Consider yourself the financial controller of Alpha. The managing director, who is not an accountant, has recently attended a seminar and has raised the following questions for you concerning issues discussed at the seminar: “When I looked at the note detailing the intangible assets we include in our consolidated statement of financial position, I noticed that several brand names associated with subsidiaries we acquired recently were included in this figure. Therefore, I also expected to see a figure for the Alpha brand name included within intangible assets. There doesn’t appear to be any amount for the Alpha brand name included within intangible assets and I don’t understand why. The Alpha brand name has been developed within Alpha for a number of years and is well regarded by our customers. Surely, it’s a mistake not to include it as well? In other word, I wonder whether the non-inclusion of the Alpha brand would affect the usefulness of the financial information?”.
Consider yourself the financial controller of Alpha. The managing director, who is not an accountant, has recently attended a seminar and has raised the following questions for you concerning issues discussed at the seminar:
“When I looked at the note detailing the intangible assets we include in our consolidated
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