Non-exclusive software licenses (15 marks) Fides acquired in January 203 a non-exclusive license for specialized software for a period of two years for UZS 70,000,000. The company prepares financial statements for 203 in accordance with IFRS. The company expects to receive the economic benefits of using the license in the form of savings in customer service costs over two years. Required: - List the main criteria to classify the license as an intangible asset in accordance with IFRS/IAS; - Calculate the amount of amortization charge for 203 and accumulated amortization as well as carrying amount of the license as of December 31, 203. Discuss how the amortization charge will be presented in the financial statements; - Provide journal entries for the above calculations. Non-exclusive software licenses (15 marks) Fides acquired in January 203 a non-exclusive license for specialized software for a period of two years for UZS 70,000,000. The company prepares financial statements for 203 in accordance with IFRS. The company expects to receive the economic benefits of using the license in the form of savings in customer service costs over two years. Required: - List the main criteria to classify the license as an intangible asset in accordance with IFRS/IAS; - Calculate the amount of amortization charge for 203 and accumulated amortization as well as carrying amount of the license as of December 31, 203. Discuss how the amortization charge will be presented in the financial statements; - Provide journal entries for the above calculations