Intangible Assets

Does the below meet the definition and an intangible asset?
Cash and receivables are both examples of monetary assets

Does the below meet the definition and an intangible asset?
Property plant and equipment and inventories are examples of non-monetary assets

Does the below meet the definition and an intangible asset?
Computer software, brands, licences and patents

‘An identifiable non-monetary asset without physical substance’

‘Money held and assets to be received in fixed or determinable amounts of money’

Is the following likely to meet the recognition criteria of IAS 38 Intangible assets?
’Expenditure of £300,000 on increasing the skills of staff’

Is the following likely to meet the recognition criteria of IAS 38 Intangible assets?
£250,000 acquiring a licence to operate in a new geographical location

Is the following likely to meet the recognition criteria of IAS 38 Intangible assets?
£28,000 spend on advertising a new product which is expected to generate economic benefits for the entity

Is the following likely to meet the recognition criteria of IAS 38 Intangible assets?
£100,000 on computer software acquired from a supplier

Is the following likely to meet the recognition criteria of IAS 38 Intangible assets?
A brand valued at £500,000 acquired as part of the purchase of a new subsidiary

Is the following likely to meet the recognition criteria of IAS 38 Intangible assets?
An internally developed brand name, estimated to be worth £100,000

Should internally generated goodwill be recognised as an intangible asset?

Should goodwill arising as a result of a business combination be recognised as an intangible asset?

Should research be recognised as an intangible asset?

Should development be recognised as an intangible asset?

How should an intangible asset acquired separately be measured?

How should an intangible asset acquired as part of a business combination be measured?

How should an internally generated intangible asset be measured?

If an active market exists, which cost model should be used

True or false
revaluations should be carried out within reference to an active market

True or false
revaluations should take place every three to five years

True or false
all assets in the same class should be revalued

True or false
Active markets are very common for intangible assets

Which of the following would disallow the capitalisation of the costs?
A) Development of the product is not yet complete
B) No patent has yet been registered in respect of the product
C) No sales contracts have yet been signed in relation to the product
D) It has not been possible to reliably allocate costs to development of the product

Is the following eligible or ineligible for capitalisation as intangible assets
’A customer list built over the last ten years of trading updated for customers current preferences’
true or false

Is the following eligible or ineligible for capitalisation as intanible assets
’specialised tooling for a new product developed by the business’
true or false

Is the following eligible or ineligible for capitalisation as intangible assets
’A working version of a new machine that uses new technology used for testing of the prototype apparatus’
true or false

Is the following eligible or ineligible for capitalisation as intangible assets
’the title heading, font and design of the front page of a major broadsheet newspaper’
true or false