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Intangible Assets recognition criteria
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[QUOTE="Yakub02, post: 309252, member: 94426"] Restructuring A provision is recognised for the future restructuring costs only if a present obligation exists. A constructive obligation to restructure arises only when a company: has a detailed formal plan for the restructuring (IAS 37 specifies certain minimum content); and has raised a valid expectation in those affected that it will carry out the restructuring by starting to implement that plan or announcing its main features to those affected by it. Future repairs and major overhauls A provision cannot be recognised for the cost of future repairs or replacement parts unless the company has an obligation to incur the expenditure. A company should capitalise expenditure incurred on replacement of an asset and depreciate this cost over its useful life. Normal repair costs are expenses that should be included in profit or loss as incurred. [/QUOTE]
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