a) Discuss (providing reasons) if the following items can be recorded as an intangible asset according to AASB138 Intangible Assets:

The cost of purchasing a trademark

The excess of a payment made to purchase of a competitor business

Costs of developing a patent

Employee training costs associated with the new product packaging

b) For any of the items above that should be recognised as an intangible asset, describe how each should be subsequently measured and accounted for (further expenditure, amortisation, option to adopt revaluation model).