what is the base for a professional judgement to determine as to whether an asset that contain tangible and intangible element is to be treated as intangible or PPE ?
As per Ind As 38 an Intangible Assets means , it has not any physical substance means can not seen or tuch , example Trademarks , Goodwill etc Tangible assets ( PPE) can be seen , tuch for example Building , Plant and Machinery , Furniture etc . So element is an Intangible Assets you can not see or tuch no physical existence .
Intangible assets are those assets which are not physical existence means which have no physical appearance but appear in the balance sheet that should be Goodwill or patent etc.
CAclubindia
