Accounting of Intangible Assets and Treatment of Obsolete Factory Machines
VerifiedAdded on 2022/11/24
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AI Summary
This document discusses the provisions of AASB 138 for intangible assets and appropriate accounting procedures for accounting issues related to patents. It also addresses the concern of factory machines becoming obsolete and the implications of depreciation charges. The recommendations provided are in line with accounting standards and the Corporations Act 2001.
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