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Advanced Financial Accounting : Assignment

   

Added on  2020-03-28

9 Pages1762 Words73 Views
Running head: ADVANCED FINANCIAL ACCOUNTINGAdvanced financial accountingName of the studentName of the universityAuthor note

2ADVANCED FINANCIAL ACCOUNTINGTable of ContentsAbstract......................................................................................................................................3Introduction................................................................................................................................4Measurement and recognition....................................................................................................4Goodwill generated internally....................................................................................................6Telstra Corporation Ltd..............................................................................................................6Treatment of intangible asset by Telstra Corporation................................................................6Impairment of intangible assets.................................................................................................7Conclusion..................................................................................................................................7References..................................................................................................................................8

3ADVANCED FINANCIAL ACCOUNTINGAbstract AASB 138 on intangible assets focuses on the treatment of intangible assets. The report willfocus on the treatment of intangible assets and its measurement and recognition criteria as perAASB 138. It will further focus on the treatment of intangible asset by Telstra CorporationLtd. as per AASB 138, all the companies frequently incur the liabilities and spend theirresources for the development, acquisition, enhancement or maintenance of the intangibleresources like technical or scientific knowledge, implementation and design of new systemsor process, market knowledge, trademarks and intellectual property. The assets that will berecognised as intangible asset shall be treated as per AASB 138.

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