Discuss the criteria for development costs to be recognised

Assignment Help Financial Accounting
Reference no: EM133011583

IAS 38/MFRS 138 Intangible asset prescribes the recognition criteria and accounting treatment for intangible assets.

Required:

Problem (a) Discuss the criteria for development costs to be recognised as an intangible asset.

Problem (b) A team of scientists is working on the usefulness of garbage enzyme in our daily life. To datea total of RM10,000 has been spent. Discuss the accounting treatment for the RM10,000 spent.

Reference no: EM133011583

Questions Cloud

How transactions should be accounted for in avery enterprise : Prepare the relevant journal entries to show how the transactions should be accounted for in Avery Enterprise's financial statements for the year
Give the reason for selecting this audit opinion : You are auditing Aveland Pty Ltd (Aveland). This is the first time your firm has performed the audit. Give the reason for selecting this audit opinion
Disadvantages of traditional performance appraisal : What are the advantages and disadvantages of traditional performance appraisal? How do these advantages and disadvantages apply to iQmetrics? 500 words
Governance models impacted on organisation csr practice : How the difference in governance models impacted on the organisation's CSR practice? Why? (governance models such as two-tier, one-tier board model)
Discuss the criteria for development costs to be recognised : Discuss the criteria for development costs to be recognised as an intangible asset. IAS 38/MFRS 138 Intangible asset prescribes the recognition criteria
Case study of google recruiting : From A Case Study of Google Recruiting by Dr. John Sullivan December 5, 2005
What is the minimum level of current assets : Question - A firm has current liabilities of $500,000. What is the minimum level of current assets required for the firm to maintain a current ratio of 2.0
Calculate candice canada pension plan contribution : Paul is due to receive a work-related bonus of $1,250.00. This bonus will be paid separately from her regular semi-monthly salary of $1,400.00. Calculate Candic
Impact ethical behavior and moral decision-making : -Consider how the Christian worldview could impact ethical behavior and moral decision-making when resolving ethical dilemmas within the issue or barrier you id

Reviews

Write a Review

Financial Accounting Questions & Answers

  What is the present worth at eom zero of the gradient

An investment will generate $1,000 at EOM 2, $2,000, If the interest rate is 0.25% per month, what is the Present Worth at EOM 0 of these gradient amounts?

  Explain the technique of computing trend ratio

What are the trend ratios? Explain the technique of computing trend ratio.

  Financial accounting module

Financial Accounting module, The IASB’s Conceptual Framework for the Preparation and Presentation of Finan­cial Statements requires financial statements to be prepared on the basis that they comply with certain accounting concepts.

  What is the direct labor rate variance for flapjack corp

What The direct labor rate variance is? Flapjack Corporation had 8,042 actual direct labor hours at an actual rate of $12.20 per hour.

  Evaluate the economic order quantity

Evaluate the economic order quantity for the spice in terms of 10 pound bags - Find the reorder point

  Estimate what is the? bonds yield to? maturity

9 percent annual? interest, but makes interest payments on a semiannual basis ?(4.5 percent? semiannually). What is the? bond's yield to? maturity?

  Create a list concerning vendors and purchases

Create a list of three best practices concerning vendors and purchases. Explain how these practices would improve the quality of information provided to management, using specific examples to support your response.

  Determining the inventory balance for badger to report

Determining the inventory balance for Badger to report in its 12/31/2022 balance sheet. On January 1, 2021, Badger Inc. adopted the dollar-value LIFO method

  Compute the inventory for the company as of january

Compute the inventory for this company as of January 31, at retail prices. Purchases in January: at retail $1,096,000; at cost $660,000

  What was the primary causes of the loss in net income

What was the primary cause(s) of the loss in net income? Did management do a good, average, or poor job of controlling expenses? Were management's decisions to stay competitive sound?

  What amount today is equivalent four years

Find What amount today is equivalent to $10,000 4 years ago, if money earned 5.5% compounded monthly over the last 4 years?

  What is the required return on the company shares

Credit Agricole SA is expected to maintain, If the company has a dividend yield of 4.22 per cent, what is the required return on the company's shares?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd