The report focuses on the accounting treatments need to be followed by Technology Enterprises Limited for the recognition of the project by adhering to the guidelines mentioned in AASB 138/IAS 38. The next section emphasises on the demerit of the comparability feature related to the financial statements, Finally, the report has provided explanation of AASB 138/IAS 38 along with suggestion of certain actions for the organisation so that the concerns could be addressed effectively.