IAS 38

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IAS 38 prescribes the treatment of intangible assets that are not dealt with specifically by other standards. Intangibles can only be recognised where a certain criteria is met.

*Intangible - an asset which is an identifiable non-monetary asset without physical substance. Assets are identifiable because they are seperable or because they are identifiable through legal or contractual rights. 

Intangibles should be recognised if…

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