Question (Evaluate a statement in view of AASB 138)

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

The Boards 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.

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