The following information relates to Alpha plc for the year ended 31 December 2001: 1. Purchased a brand in 1998 for 5m. It is expected to have an indefinite life. The directors believe that the brand is now worth 10m as at 31 December 2001. 2. Incurred 2,500,000 on a major advertising campaign in 2001. The directors believe that it will raise the profile of the company and improve sales for the next four years. 3. Acquired a license to operate a factory distributor in 2001 for 1.8m. The license entitles the company to operate this factory distributor exclusively in a special zone for 4 years. Required: a. What is the accounting treatment of points i., ii. and iii. under IAS 38? b. Critically evaluate the way in which IAS 38 accounts for goodwill