The Kedah Football association, has made a decision to include its players on the clubs statement of financial position as assets. These players are signed to the club every 3 years and are paid large amounts of money by the club each year under various contracts. The club also insists on a transfer fee being paid if a player wishes to go to another club while under contract. Discuss whether the Kedah club is justified in its action of treating players as assets by reference to the IFRS/MASB/FASB definition and recognition criteria.