Question

Check your underlying knowledge for SBR

These self-check quizzes will asses your underlying knowledge and help you prepare efficiently for the SBR exam.

Go to the Student Virtual Learning Centre.

Answer 1

As we know we are living in the era of technology, there are softwares and technological developments everywhere. I want to ask for your kind advice regarding the gaming industry in Pakistan.

The companies who are developing games for Play store and App store and earning revenue from the advertisement on these apps and don't have any other platform on which they sell their games, will recognize intangibles?

As per IAS-38  or definition of asset, asset is recognized by the entity who has control over the future economic cash flows as the app is on Play store and the control is exercised by Google as we follow the terms and conditions of Google.

Kindly guide me in this regard, whether they will be recognized or not?