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You work for a consulting firm. Smith Marc holds a large proportion of shares in Newera Ltd, an Australia pharmaceutical company. Smith Marc asks you

You work for a consulting firm. Smith Marc holds a large proportion of shares in Newera Ltd, an Australia pharmaceutical company. Smith Marc asks you to provide opinions on the following two issues:

(a) Newera Ltd adopts Australian Accounting Standards. Does the accounting treatments of internal and external intangible assets provide useful information to the users of financial statements? re accounted for in the financial statements provide useful information? Explain your opinion

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