IAS 24 relates to related party disclosure

1. Name two scope of this standards
2. What is the purpose of related party disclosure?
3. Define and explain what could be consider as related parties' transaction in a business

Name two disclosure for this standard (IAS 24).

a. How does IAS 38 define intangible assets

b. What are the recognition criteria for intangible assets?

c. Name and explain five intangible assets

The following extract has been taken from the balance sheet of James Ltd. as of 30 September 2009

$

Non-Current Assets

Intangible Assets-Brand 9,268

Tangible Assets 15,024

Investment 856

25,148

Explained why an enterprise such as James Ltd. may have included purchases brands as non-current assets in their balance sheet.