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Relate to Accounts
Revaluation of Assets as per market standards. Moodys or S&P ratings for company's goodwill.
Amortization
The cost less residual value of an intangible asset with a finite useful life should be amortised on a systematic basis over that life.
- The amortisation method should reflect the pattern of benefits.
- If the pattern cannot be determined reliably, amortise by the straight line method
- The amortisation charge is recognised in profit or loss unless another IFRS requires that it be included in the cost of another asset.
An intangible asset with an indefinite useful life should not be amortised.
Its useful life should be reviewed each reporting period to determine whether events and circumstances continue to support an indefinite useful life assessment for that asset. If they do not, the change in the useful life assessment from indefinite to finite should be accounted for as a change in an accounting estimate.
Demortization
Intangible assets are measured by either cost model or revaluation model. But the term used for depreciating the intangible assets are "amortization". It should be amotized in a systematic manner over the useful lives.
