Can development costs initially expensed be subsequently recognised as an intangible asset? Explain your answer.

Question:

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Financial Reporting

ISBN: 9780730396413

4th Edition

Authors: Janice Loftus, Ken Leo, Sorin Daniliuc, Belinda Luke, Hong Nee Ang, Mike Bradbury, Dean Hanlon, Noel Boys, Karyn Byrnes

See More Books

Question Posted: Apr 05, 2024 03:00 AM

See More Questions

The growth of international activities has been rapid over time. These activities include areas of international trade, international investment, international bond and equity offerings, capital...
The mat foundation shown below will support four grain silos. These are cylindrical structures used to store grain. Each of the silos has an empty weight of 29 MN, and can hold up to 110 MN of grain....
Required: (a) Using basic accounting principles as a guide, provide arguments to support (i) THE IASB approach for reporting R&D costs, and (ii) the FASB approach for reporting R&D costs . (b) In...
Let y vary directly with x. Complete the following. Find y when x = 1.3, if y = 7.2 when x = 5.2.
Hite Company specializes in manufacturing motorcycle helmets. The company has enough orders to keep the factory production at 1,000 motorcycle helmets per month. Hite's monthly manufacturing cost and...
What is the purpose of using the high-low method?
Refer to the table developed in problem 15.5 for University Health Center. Assume the Managed Care Division is evaluating a project with the net cash flows and probabilities shown in the table below....
At the beginning of October, Bowser Co.s inventory consists of 50 units with a cost per unit of $50. The following transactions occur during the month of October. October 4 Purchase 130 units of...
Assume a hypothetical age that has not been assumed by other students. Assume you would like to invest in a zero-coupon bond in order to have $1000,000 in your retirement account when you get to the...
Explain the accounting treatment of subsequent expenditure on intangible assets.
Applying accounting theory to property, plant and equipment Beatrix was recently appointed as the accountant for Lorikeet Ltd. She was surprised to learn that the company uses the cost model for its...
Estimate the entropy change of 850 g of water when it is heated from 20.0C to 50.0C.
3)The mathematical model of a dynamic system is defined by x" +4x' + 4x = 2e-t. a) Find the general solution of the homogeneous equation with initial conditions x(0) = = 1 and x'(0) = 0 b) Find a...
For the mechanism below, at the instant shown, the crank, AB, is rotating clockwise at 1.800 rpm and accelerating at 12.000 rad/s2. Use the relative acceleration method to determine the linear...
Vectors D and E are defined as: D= (10.2 i + 24.2 + -3.7 k) m E = (14.2 + -10.5 + 8.0 k) m Note that both of these are dislacement vectors and have units of meters (m). Find D. E. Value: 246.78 X...
Use the general term a = n- 3n to identify the correct sequence. =n n A -2,1,6,13,22,... B -2,2,0,4,10,... (c) -3, 6, 9, 12, 15, ... 1,4,9,16,25,...
A stoplight weighing 200 Newtons is hung between two poles that are 10 meters apart. One pole is 8 meters tall, and the other is 11 meters tall. The stoplight is hung by attaching one rope from the...
A two dimensional velocity field is given by u = - Ky/ x2 + y2 v = Kx/x2 + y2 Where K is constant does this field satisfy incompressible continuity? Transform these velocities to polar components r...
Solve the relation Exz:Solve therelation ne %3D
Calculate the energy in Joules of the first 3 energy levels for the following conditions: a. for a proton in a 1D box with length a = 0.5 nm b. Compare your answer in part a with answers from part a...
A nanowire with a length of 100 nm and width and height of 1 nm each acts like a 3D box for electrons. Assume there is one electron in the wire. Neglecting collisions, what is the electric field...
TA voltmeter indicates that the potential at a location between two parallel conducting plates is 7 . 8 V , where the negatively charged plate is at 0 V . If the plates are 2 2 m m apart and are...

Can development costs initially expensed be subsequently recognised as an intangible asset? Explain your answer.

Question:

Step by Step Answer:

Paragraph 71 of AASB 138IAS 38 states expenditure on an intangible item that ...View the full answer

Financial Reporting

Students also viewed these Business questions