Accounting Standards

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anish

anish (Querist)
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17 March 2008 hi,
Is logo design expenses is covered under AS 26. Can it be capitalised.

Amit

Amit (Expert)
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17 March 2008 Yes design expenses are covered under AS26. It can be capitalised only if it satisfied the crieterions of intangible assets as defined under AS 26 i.e. it should be controllable by firm, it should be identifiable and there is expectation of future economic benefits flowing from m it

CA. Amit Daga

CA. Amit Daga (Expert)
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17 March 2008 Logo should be utilised for your bussiness purpose or a specified purpose

CA Saurabh Maheshwari

CA Saurabh Maheshwari (Expert)
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17 March 2008 YES COVERED UNDER AS 26

CA Shailesh +91 9393926464

CA Shailesh +91 9393926464 (Expert)
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17 March 2008 The three conditions for capitalisation of design expenses as Intangible assets as given under AS 26 are:
1) Identifiable -- Seems to be satisfied

2) Future Economic Benefits -- satisfied

3) Controllable -- I am confused with this condition. I believe, this condition will not be satisfied until u have the ownership of the asset. And until u registered ur logo, u may not stop others to use it.

So, i would like to ask our friends to throw some light on this issue..

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