IAS 16/IAS 38 — Acceptable methods of depreciation and amortisation
The project manager provided a summary of the project and asked whether the members approved the revised proposed amendments to be finalised.
One board member raised a comment on whether the word “correlated” is the right word and expressed that there is a need for a more precise definition.
Another board member expressed that “correlated” is the right word because intangibles are generally used to create other assets (such as inventory) to generate revenue.
There was a decision taken to proceed with the revised amendments, including some changes based on the comment raised by the board members.