Hi Experts.
Mahaveer company (just for Example) is game development IT company. They are developing games for their customer. Mahaveer has also develop games for own purpose and want to show it as intangible assets. Now my Question is that what account journal entry should I process to recorded these games as intangible assets of mahaveer?
Thanks,
Awdhesh
Expenditure towards developing the games viz developer salary , specific technical overheads to be capitalised under Intangible assets under development. After that , if the intangible asset meets the asset recognition criteria then capitalise it else write off to profit and loss.
CAclubindia
