IAS 38 - Intangible Assets - was primarily issued in order to identify the criteria that \ need to be present before expenditure on intangible items can be recognized as an \ asset. The standard also prescribes the subsequent accounting treatment of intangible \ assets that satisfy the recognition criteria and are recognized in the statement of \ financial position. \ REQUIRED\ (a) Explain the criteria that need to be satisfied before expenditure on intangible \ items can be recognized in the statement of financial position as intangible \ assets.\ [3 Marks]\ (b) Explain how the criteria outlined in (a) are applied to the recognition of separately \ purchased intangible assets, intangible assets acquired in a business combination, \ and internally generated intangible assets. \ [9 Marks]\ (c) Explain the subsequent accounting treatment of intangible assets that satisfy the \ recognition criteria of IAS 38. \ [3 Marks]