Customer lists & intangible assets

culkin93
New Member

Posts: 8

Customer lists & intangible assets Oct 15, 2020 20:35:51 GMT

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Post by culkin93 on Oct 15, 2020 20:35:51 GMT

Hoping someone can help.

I'm revising theory ahead of the MCS this November. My textbook states that customer lists can't be capitalised, but one of my practice questions marked that as incorrect and said that it is an intangible asset.

I'd appreciate some advice from anyone familiar with customer lists.

palmtree79 New Member Posts: 5	Customer lists & intangible assets Oct 15, 2020 22:09:16 GMT Quote Select Post Deselect Post Link to Post Member Give Gift Back to Top Post by palmtree79 on Oct 15, 2020 22:09:16 GMT I have had same questions this year. Very confusing, following.

mjthetutor
Administrator

Posts: 47

Customer lists & intangible assets Oct 15, 2020 23:56:38 GMT culkin93 likes this

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Post by mjthetutor on Oct 15, 2020 23:56:38 GMT

Maybe some clarity....what textbook states this and in what context?

Intangible assets have to pass the critical attributes test (identifiability, control, future economic benefit) to be classified as such. Further, for recognition, there are some criteria to consider.

For more study tips, please visit my blog mjthetutor.com

culkin93 New Member Posts: 8	Customer lists & intangible assets Oct 16, 2020 7:45:33 GMT Quote Select Post Deselect Post Link to Post Member Give Gift Back to Top Post by culkin93 on Oct 16, 2020 7:45:33 GMT Thank you MJ. I'm using the Kaplan textbook and you're quite right - I'd somehow overlooked the critical attributes, and reading through that has helped clarify things.

Customer lists & intangible assets

Post by culkin93 on Oct 15, 2020 20:35:51 GMT

Post by palmtree79 on Oct 15, 2020 22:09:16 GMT

Post by mjthetutor on Oct 15, 2020 23:56:38 GMT

Post by culkin93 on Oct 16, 2020 7:45:33 GMT

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