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intangible assets
[u][/u] My client want to amortise the expenses incurred in last two years for geeting the order / contract (service contract) over the period of contract. Wether its covered in AS 26 UNDER WHICH CLAUSE IF NOT IN WHAT GROUND WE CAN SATISFIED HIM.
Replies (1)
The One says:
Short Answer: Not Intangible Asset
Long Answer:
Intangible Assets must meet recognition criteria: Identifiable, Non-monetary, No Physical Substance and should generate future economic benefits that can be reliably measured.
The amount should be expensed immediately.
Short Answer: Not Intangible Asset
Long Answer:
Intangible Assets must meet recognition criteria: Identifiable, Non-monetary, No Physical Substance and should generate future economic benefits that can be reliably measured.
The amount should be expensed immediately.
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