The writer is very fast, professional and responded to the review request fast also. Thank you.
Juilette Ltd is a digital marketing company that undertakes online marketing functions for its customers. In May 2018, Juilette Ltd hired an external consulting firm to review its operations. One of the recommendations made by the external consultants was that the computer software used by Juilette Ltd to produce online advertisements was outdated and should be replaced. Management of Juilette Ltd prepared a report that outlined the following options for the replacement of the computer software:
· Option 1: acquire a licence from Media Solutions Ltd to use their computer software package. The licence could be acquired immediately for $80,000 and would last five years. A condition of the licence is that Juilette Ltd is prohibited from selling, transferring, licensing, renting or exchanging the computer software even after the licence has expired.
· Option 2: internally develop a computer software package. It would take between 8 and 12 months to develop the computer software at an estimated cost of $50,000. The computer software would be patented at an additional cost of $15,000.
· Option 3: internally develop a computer software package. It would take between 8 and 12 months to develop the computer software at an estimated cost of $50,000. The computer software would not be patented.
Required
(a) For each of the three options, explain whether the computer software satisfies the definition of an intangible asset in accordance with AASB 138 Intangible Assets. In particular, explain whether the computer software satisfies the criterion of identifiability in the definition of an intangible asset.
(4 marks)
(b) For each option that satisfies the definition of an intangible asset, explain the recognition criteria that would be applied by Juilette Ltd. (2 marks)
Show more
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.
Read moreEach paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.
Read moreThanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.
Read moreYour email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.
Read moreBy sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.
Read more