I need the answer in 500 words

CASE STUDY 1. Canto has acquired a UK company, Bento, which owns and operates a social media site on which the public can post material relating to any particular topic. The cost of setting up the site was $3 million. The company generates revenue by selling advertising space on the site. The domain name is protected legally through registration with the national authority. Bento has attempted to build up customer relationships with the advertisers on the site and expects the customers to continue to trade with the entity. There are no contracts with those customers. Bento also uses the site to trade in transferable domain names. Bento owns the names and allows purchasers of the names to use the name for a period of five years before it reverts back to Bento. Bento has itself purchased the names from the national regulator. Bento expects to achieve an 80% margin on the sale of the domain names Required: Advise Canto on whether the above items should be accounted for as intangible assets under IFRS for SMEs and discuss the key differences between accounting for the recognition of intangible assets other than goodwill under IFRS for SMEs