https://www.taxtmi.com/acts?id=14698 The Standard requires recognition of an intangible asset only when it is identifiable, controlled by the enterprise and expected to yield probable future economic benefits, and when cost can be measured reliably. Expenditure on research is expensed; development costs are capitalised only if six specific conditions are met. Intangible assets are carried at cost less accumulated amortisation and impairment; amortisation should reflect consumption with a rebuttable presumption of a maximum ten year useful life, and recoverable amounts must be tested annually for assets not yet available for use or those with amortisation periods exceeding ten years. en-us Sat, 04 Jun 2011 17:41:45 +0530 Thu, 17 Sep 2015 22:30:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=14698 The Standard requires recognition of an intangible asset only when it is identifiable, controlled by the enterprise and expected to yield probable future economic benefits, and when cost can be measured reliably. Expenditure on research is expensed; development costs are capitalised only if six specific conditions are met. Intangible assets are carried at cost less accumulated amortisation and impairment; amortisation should reflect consumption with a rebuttable presumption of a maximum ten year useful life, and recoverable amounts must be tested annually for assets not yet available for use or those with amortisation periods exceeding ten years. Act-Rules Companies Law Sat, 04 Jun 2011 17:41:45 +0530 https://www.taxtmi.com/acts?id=14698