Accounting Treatment of Intangible Assets

Running head: FINANCIAL ACCOUNTING
Financial Accounting
Name of the Student
Name of the University
Author’s Note

1FINANCIAL ACCOUNTING
Executive Summary
The first part of the report sheds light on the accounting treatments that Technology
Enterprise Ltd needs to follow for the accounting of the project through the consideration of
AASB 138/IAS 38. The second part discusses about the limitation of the comparability
characteristic of the financial statements. The last part provides discussion on AASB 138/IAS
38 while recommending certain action for the company to address the concerns.

2FINANCIAL ACCOUNTING
Table of Contents
Introduction................................................................................................................................3
1. Accounting of the Project in the Financial Statements..........................................................3
2. Reduction of Comparability of Financial Statements............................................................5
3. Understanding of AASB 138/IAS 38.....................................................................................5
Conclusion and Recommendation..............................................................................................6
References..................................................................................................................................7