Stauffer is a public listed company reporting under IFRS Standards. It has asked for your opinion on the accounting treatment of the following items.

(a) The Stauffer 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. Stauffer's directors are delighted and plan to recognise 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.

(b) On 1 October 20X5 the company was awarded one of six licences issued by the government to operate a production facility for five years. A 'nominal' sum of $1m was paid for the licence, but its fair value is actually $3m.

(c) The company undertook an expensive, but successful advertising campaign during the year to promote a new product. The campaign cost $1m, but the directors believe that the extra sales generated by the campaign will be well in excess of that over its four-year expected useful life.

(d) Stauffer owns a 30-year patent which it acquired two years ago for $8m and which is being amortised over its remaining useful life of sixteen years from acquisition. The product sold is performing much better than expected. Stauffer's valuation consultants have valued its current market price at $14m.