ABC has spend 1.8 million in developing a new software for its payment system for the period of 1 Jan 2015-31 Dec 2016. The company is able to demonstrate that from 1 July 2016 the production process met the criteria for recognition as an intangible asset. The financial year end is 31 Dec. During 2016, the total training cost to improve the employees skill were 300,000. A focus group of other retail banking providers was invied to a conference of the introduction of the new software in 2016. Cost of the conference was 100,000. In 2016, ABC acquired another rival company XYZ for a total sum of 200 million. At this date a brand valuation expert valued XYZ brand at 40 million on the basis of useful life of 20 years. Other net assets were deemed to have a fairu value of 125 million. Explain, how the costs given above should be treated in the financial statement of ABC for the year ending 31 Dec 2016 in relation to intangible assets per IAS38.