The document discusses accounting for intangible assets. Once recognized, intangible assets can be carried at their cost less accumulated depreciation and amortization. When disclosing information about intangible assets, companies are not required to disclose the fair value of similar intangible assets used by competitors.
The document discusses accounting for intangible assets. Once recognized, intangible assets can be carried at their cost less accumulated depreciation and amortization. When disclosing information about intangible assets, companies are not required to disclose the fair value of similar intangible assets used by competitors.
The document discusses accounting for intangible assets. Once recognized, intangible assets can be carried at their cost less accumulated depreciation and amortization. When disclosing information about intangible assets, companies are not required to disclose the fair value of similar intangible assets used by competitors.
Once recognized, intangible assets can be carried at
a. Cost less accumulated depreciation
b. Cost less accumulated depreciation and less accumulate amortization c. Revalued amount less accumulated depreciation d. Cost plus a notional increase in fair value since the intangible asset is acquired
2. Which of the following disclosures is not required by PAS 38?
a. Useful lives of the intangible assets
b. Reconciliation carrying amount at the beginning at the end of the year c. Contractual commitments for the acquisition of intangible assets d. Fair value of similar intangible assets used by its competitors