Paragraph 23 of an earlier version of IAS 38 Intangible Assets states that:

The Board's view, consistently reflected in previous proposals for intangible assets, is that there should be no difference between the requirements for: a) intangible assets that are acquired externally; and (b) internally generated intangible assets, whether they arise from development activities or other types of activities.

Question: Evaluate the above view, identify and explain inconsistencies between this view and current requirements of AASB 138.