intangible asset

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2020 Updated list of International Accounting Standards (IAS)

The following are the list of updated international accounting standards (IAS) in 2020:

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Revision question on financial accounting - Delali ltd

Revision question on financial accounting – Delali ltd

Delali Ltd adopts revaluation model for subsequent measurement of its intangible assets in accordance with IAS 38: Intangible assets. The policy of Delali is to revalue its intangible asset at the end of each year. An intangible asset with an estimated useful life of 9 years was acquired on 1 January 2016 for GH¢45,000. It was revalued to GH¢54,400 … Read the rest

6 necessary conditions for recognizing development cost as intangible assets

6 necessary conditions for recognizing development cost as intangible assets.

According to IAS 38 intangible assets, development expenditure are capitalized if the entity can demonstrate the following conditions



  • The technical feasibility of completing the intangible asset so that it will be available for use or for sale
  • Its intention is to complete the intangible asset and use or sell it
  • Its ability to use
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