CERTYNEX IFRS ACADEMY

An analyst claims that a recipe database acquired by Gustavia is not identifiable, because Gustavia has no intention of reselling or licensing it. Where is the flaw in the reasoning?

Separability is assessed on whether the asset could be sold, even without any intention to do so.

There is no flaw: without an intention to sell, the asset is not separable.

The flaw is believing that an acquired database must be identifiable to meet the definition.

The flaw is considering that a database has no physical substance.