1) In the research plan all expenditure on a project must be expensed. Why?
2) In what circumstances could a process devloppment project be recognised as an intangible asset ?
3) List in details any 2 factors which an entity would consider in determining the useful life of an intangible asset?
4) When can an entity regard an intangible asset as having an indefinite useful life?
5) List 2 assets which would not meet the identifiable aspect of the definition of an intangible asset?
6) Why does IAS 68 P 63 forbid the recognition of certain internaly generated intangible asset?
7) Intangible assets acquired via a separate acquisition are always recognised why?
8) Identify 5 ways in which an entity may obtain an intangible asset?
(Use australian accounting)