3 it is reasonably expected that the future revenue

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Unformatted text preview: ent expenditures cannot be capitalized. asset purchased separately from a business should be capitalized at its cost. An intangible asset acquired as part of the acquisition of a business should be capitalized separately from goodwill if its value can be measured reliably on initial recognition. Other countries Australia Recorded at acquisition cost. Canada Japan Norway Internally developed intangibles, except goodwill, may be included as assets if: (1) They are material. (2) They can be clearly identified as contributing to the revenue earnings capability of the business in the future. (3) It is reasonably expected that the future revenue will be sufficient to carry the expense forward, or the expenditure has given rise to an asset that may be reasonably expected to realize at least its book value. AASB 1011, Accounting for Research and Development Costs (AAS 13), states that R&D costs should be expensed as they are incurred. Goodwill in a business Research costs are required to be expensed as they are combination is represented by incurred. The same is generally true of development costs, the difference between cost but deferral is required if all the following criteria are met: and the acquiring company's (1) The product or process is clearly identified and the costs attributable...
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