IAS_38.ppt

School
University of Management & Technology, Sialkot*
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Course
ACCOUNT FINANCIAL
Pages
19
Upload Date
Feb 10, 2024
Uploaded by SargentSummerScorpion125 on coursehero.com
Financial accounting Resourse person Mrs.Saiqa Irfan IAS-38
Definition of Intangible Assets An intangible asset is • an identifiable non-monetary asset without physical substance. An asset is a resource: a) controlled by an entity as a result of past events; and b) from which future economic benefits are expected to flow to the entity. Monetary assets are • money held and assets to be received in fixed or determined amounts of money
Definition of Intangible Assets More clarification on its meaning • An asset meets the Identifiability Criterion in the definition of an intangible asset when it: a) is separable b) arises from contractual or other legal rights
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