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Discuss the current accounting treatment of internally generated intangible assets under AASB 138. Provide arguments...

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Accounting

Discuss the current accounting treatment of internally generated intangible assets under AASB 138. Provide arguments both FOR and AGAINST this accounting treatment. If you were an Accounting Standard Setter, what would your proposal be for the accounting treatment of internally generated intangibles? (Refer to the Accounting Standards and/or Conceptual Framework as appropriate. Maximum 350 words)

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