Crossing Pty Ltd has recently spent heavily on a new logo design and promotion of it, in order to increase the company's market share. Management believes that the spending is significant and therefore would like to report the above costs as an asset in the Statement of Financial Position for the current financial period ending 30 June 2020.- Required: With reference to the Conceptual Framework definition and recognition criteria of an asset, discuss whether the costs on the new logo design and promotion of it should be treated and reported as an asset in the Statement of Financial Position of Crossing Pty Ltd for the financial period ending 30 June 2020