Podcast
Questions and Answers
Which of the following is an example of an intangible asset?
Which of the following is an example of an intangible asset?
- Patent rights (correct)
- Inventory
- Buildings
- Machinery
According to IAS 38, which of the following is not considered an intangible asset?
According to IAS 38, which of the following is not considered an intangible asset?
- Financial assets
- Goodwill
- Deferred tax assets
- Inventory (correct)
When is an intangible asset considered identifiable?
When is an intangible asset considered identifiable?
- When it has physical substance
- When it is separable (correct)
- When it arises from contractual or other legal rights
- When it is recorded as a single tangible asset
Which one of the following is a requirement for recognizing an intangible asset?
Which one of the following is a requirement for recognizing an intangible asset?
Which accounting model is commonly used to evaluate intangible assets?
Which accounting model is commonly used to evaluate intangible assets?
Under the revaluation model, what is not allowed?
Under the revaluation model, what is not allowed?
When can research and development costs be recorded as intangible assets?
When can research and development costs be recorded as intangible assets?
Which type of investment is represented through fixed assets in a company's balance sheet?
Which type of investment is represented through fixed assets in a company's balance sheet?
According to IFRS 10, control over a company is obtained when the investor is able to influence its business through what means?
According to IFRS 10, control over a company is obtained when the investor is able to influence its business through what means?
How is an investment in a subsidiary evaluated under IFRS 9?
How is an investment in a subsidiary evaluated under IFRS 9?
What is the criteria for an investment to be considered an associate?
What is the criteria for an investment to be considered an associate?
According to IAS 38, when can an intangible asset be recognized in the balance sheet?
According to IAS 38, when can an intangible asset be recognized in the balance sheet?
What are the future economic benefits that an intangible asset can provide according to IAS 38?
What are the future economic benefits that an intangible asset can provide according to IAS 38?
According to IAS 38, where should the costs related to research be recorded?
According to IAS 38, where should the costs related to research be recorded?
According to IAS 38, what conditions must be demonstrated for an intangible asset arising from the development phase of an internal project to be recognized?
According to IAS 38, what conditions must be demonstrated for an intangible asset arising from the development phase of an internal project to be recognized?
According to IAS 38, how should intangible assets be reported in the balance sheet?
According to IAS 38, how should intangible assets be reported in the balance sheet?
What is the value in use of an asset?
What is the value in use of an asset?
How is impairment of intangible assets determined?
How is impairment of intangible assets determined?
When should the carrying amount of an intangible asset be derecognized?
When should the carrying amount of an intangible asset be derecognized?
Which one of these is true about goodwill?
Which one of these is true about goodwill?
What is the purpose of impairment testing for goodwill?
What is the purpose of impairment testing for goodwill?
How is goodwill initially measured?
How is goodwill initially measured?
What is a cash-generating unit (CGU)?
What is a cash-generating unit (CGU)?
According to IAS 36, how should a company determine if an intangible asset with indefinite useful life has maintained its value?
According to IAS 36, how should a company determine if an intangible asset with indefinite useful life has maintained its value?
When should the loss of fair value be booked in the profit and loss?
When should the loss of fair value be booked in the profit and loss?
How should the depreciation of intangible assets with defined useful life be recorded?
How should the depreciation of intangible assets with defined useful life be recorded?
When does the depreciation of an asset begin?
When does the depreciation of an asset begin?
What is the recommended approach for estimating the free cash flow of an asset beyond a certain period?
What is the recommended approach for estimating the free cash flow of an asset beyond a certain period?
What is the difference between IFRS and OIC with reference to investments, according to the text?
What is the difference between IFRS and OIC with reference to investments, according to the text?
What loss amount is reported by the company in the impairment test, according to the text?
What loss amount is reported by the company in the impairment test, according to the text?
Which type of joint arrangement requires unanimous consent for decisions about relevant activities?
Which type of joint arrangement requires unanimous consent for decisions about relevant activities?
Under IFRS 9, how are investments recognized?
Under IFRS 9, how are investments recognized?
When can changes in value of investments be classified within the OCI under IFRS 9?
When can changes in value of investments be classified within the OCI under IFRS 9?
What is the purpose of the terminal value in cash flow calculations?
What is the purpose of the terminal value in cash flow calculations?
