Dear Amit,
The life of intangible asset may be indefinite but not infinite. There is a very thin line of demarkation between the word indefinite and infinite. Here it will be better to use word indefinite.
Amortization of intangible is allowable in IFRS?
Page no : 2
CA. Amit Daga
(Finance Controller CA. CS. CFA. CIFRS. M.COM. )
(9017 Points)
Replied 12 August 2009
Thank you sirjee..
C.A Rohit Gambhir
(C.A)
(275 Points)
Replied 18 August 2009
And also there is no concept of indefinte life in Indian Accounting Standards, this is a difference between AS and IAS.
CA. Amit Daga
(Finance Controller CA. CS. CFA. CIFRS. M.COM. )
(9017 Points)
Replied 19 August 2009
in as it should be amortised with in 10 yrs
CA. Amit Daga
(Finance Controller CA. CS. CFA. CIFRS. M.COM. )
(9017 Points)
Replied 24 August 2009
thanks
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