Trademark XYZ was acquired from a third party on 1 January 2035 at a cost of $375,000. An additional $13,500 was incurred registering the trademark. Costs incurred to train staff in relation to the new trademark amounted to $125,000. The useful life of the trademark is indefinite. Prepare a business letter for your client to outline the accounting treatment and disclosure requirements in relation to intangible assets. Provide support for your accounting advice with reference to the relevant paragraphs of the accounting standards. Outline for your client if you are aware of any changes to the accounting treatment of goodwill amortisation. A major purpose of the business letter is to 'educate' the client to have a better understanding of intangibles assets, business combinations and the meaning and purpose of the balance sheet