Scenario $3$

In April $2001$ the International Accounting Standards Board $($Board$)$ adopted IAS $38$ Intangible Assets, which had originally been issued by the International Accounting Standards Committee in September $1998.$ IAS $38$ was revised in March $2004$ and applies to intangible assets acquired in business combinations occurring on or after $31$ March $2004,$ or otherwise to other intangible assets for annual periods beginning on or after $31$ March $2004.$

For an intangible asset to be identifiable, this means that it must be separable or arise from legal$/$contractual rights.

IAS $38$ sets out the criteria for recognizing and measuring intangible assets and requires disclosures about them.

Scenario $3-$Question

Discuss the Disclosure requirements set out in IAS $38$ with suitable examples from an annual report of any public listed company in Oman. Support your points by referring to academically accepted research sources $($research articles, and conference papers$).$

$($Disclosure$,$ Examples & research sources $7$ marks $+1$ Mark for appropriate presentation$)$

$($Total Marks Scenario $3=8$ Marks$)$