Accounting Treatment for Intangible Assets in Technology Enterprises Limited

Running head: FINANCIAL ACCOUNTING
Financial Accounting
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1FINANCIAL ACCOUNTING
Executive Summary:
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.

2FINANCIAL ACCOUNTING
Table of Contents
Introduction:................................................................................................................................................. 3
1. Accounting treatment for the project in accordance with AASB 138/IAS 38:...........................................3
2. Minimisation of comparability of the financial statements:.......................................................................5
3. Understanding of AASB 138/IAS 38:....................................................................................................... 5
Conclusion and recommendations:.............................................................................................................. 6
References:................................................................................................................................................. 7