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Q1 OUHK is a public listed company reporting under HKFRSS. It has asked for your opinion on the treatment of the following items: (a) The

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Q1 OUHK is a public listed company reporting under HKFRSS. It has asked for your opinion on the treatment of the following items: (a) The OUHK brand has become well known and has developed a lot of customer loyalty since the company was set up eight years ago. Recently, valuation consultants valued the brand for sale purposes at $14.6m. OUHK's directors are delighted and plan to recognize the brand as an intangible asset in the financial statements. They plan to report the gain in the revaluation surplus as they feel that crediting it to profit or loss would be imprudent

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