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Provide advice on correct presentation of intangible assets

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Reference no: EM132518199

Question 1: At our recent board meeting several directors raised concerns about an intangible asset relating to the brand name 'Ezi Kleen' which has been successfully developed by the business over the past years. The directors want to recognize $900,000 for this asset as at 30 June 2020, being a 'directors' valuation'. We also spent about $100,000 for branding research. Could you please provide advice on the correct presentation of such intangible assets?

Reference no: EM132518199

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