Question: ABD ltd is developing a new software program. Total expenditure on the software program was E300,000 for the year ended 31st December 2006. Expenditure on

ABD ltd is developing a new software program. Total expenditure on the software program was E300,000 for the year ended 31st December 2006. Expenditure on the software program was E200,000 from January to July of that year. On 1st of August 2006 the company reviewed the project and decided that from that date the software program met all the criteria for an intangible asset. According to IAS 38 how should the expenditure be treated in the accounts

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