ISO 9000 certification cost, can we capitalize under IFRS?
Thanks,
ISO 9000 certification, can we capitalize under IFRS?
Mohd Pervez (Manager Accounts) (32 Points)
24 June 2021
3 Replies
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 24 June 2021
Those fall under research costs during initial recognition and expensed to SPLOCI when they are building an asset. This is initial recognition.
Now if this certification is directly bringing economic benefits and directly attributable to the asset which will bring in more economic benefits than its current Cashflows, it can be capitalised. This is the subsequent treatment.
Mohd Pervez
(Manager Accounts)
(32 Points)
Replied 24 June 2021
Thank you..is there any specific guidelines under IFRS?
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 25 June 2021
IAS38 research costs and subsequent treatment
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