CERTYNEX IFRS ACADEMY

Anselm is developing a machine translation tool for which the recognition criteria are first met on 1 May 20X3. At 31 December 20X3, the accountant prepares the entries below. Which one is wrong?

Keeping in expense the expenditure from January to April 20X3.

Recognising as an asset the directly attributable costs incurred since 1 May.

Reclassifying to the asset the January to April expenditure already expensed.

Leaving in expense the training of the tool's future users.