{"id":96609,"date":"2020-12-28T17:04:30","date_gmt":"2020-12-28T11:34:30","guid":{"rendered":"https:\/\/www.vskills.in\/certification\/tutorial\/?page_id=96609"},"modified":"2024-04-12T14:25:28","modified_gmt":"2024-04-12T08:55:28","slug":"cost-of-an-internally-generated-intangible-asset","status":"publish","type":"page","link":"https:\/\/www.vskills.in\/certification\/tutorial\/cost-of-an-internally-generated-intangible-asset\/","title":{"rendered":"Cost of an Internally Generated Intangible Asset"},"content":{"rendered":"\n<p>The cost of an internally generated intangible asset comprises all expenditure that can be directly attributed, or allocated on a reasonable and consistent basis, to creating, producing and making the asset ready for its intended use from the time when the intangible asset first meets the recognition criteria. The cost includes, if applicable:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Expenditure on materials and services used or consumed in generating the intangible asset.<\/li><li>The salaries, wages and other employment related costs of personnel directly engaged in generating the asset.<\/li><li>Any expenditure that is directly attributable to generating the asset, such as fees to register a legal right and the amortisation of patents and licences that are used to generate the asset and<\/li><li>Overheads that are necessary to generate the asset and that can be allocated on a reasonable and consistent basis to the asset. Allocations of overheads are made on bases similar to those discussed in AS 2 &amp; AS 16.<\/li><\/ul>\n\n\n\n<p>The following are not components of the cost of an internally generated intangible asset:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Selling, administrative and other general overhead expenditure unless this expenditure can be directly attributed to making the asset ready for use.<\/li><li>Clearly identified inefficiencies and initial operating losses incurred before an asset achieves planned performance and<\/li><li>Expenditure on training the staff to operate the asset.<\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"<p>The cost of an internally generated intangible asset comprises all expenditure that can be directly attributed, or allocated on a reasonable and consistent basis, to creating, producing and making the asset ready for its intended use from the time when the intangible asset first meets the recognition criteria. The cost includes, if applicable: Expenditure on&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-96609","page","type-page","status-publish","hentry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Cost of an Internally Generated Intangible Asset - Tutorial<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.vskills.in\/certification\/tutorial\/cost-of-an-internally-generated-intangible-asset\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cost of an Internally Generated Intangible Asset - Tutorial\" \/>\n<meta property=\"og:description\" content=\"The cost of an internally generated intangible asset comprises all expenditure that can be directly attributed, or allocated on a reasonable and consistent basis, to creating, producing and making the asset ready for its intended use from the time when the intangible asset first meets the recognition criteria. 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