CERTYNEX IFRS ACADEMY

In the Vérandel group's note, the Technologies class combines in a single column capitalised development costs from internal projects and patents bought from third parties. Lives, methods, gross carrying amounts and the reconciliation are given for this single column. What is the main shortcoming under IAS 38?

Development costs should have been excluded from the note, because they are not intangible assets.

Internally generated assets are not distinguished from the other intangible assets of the class.

The purchased patents should appear in the property, plant and equipment note.

The reconciliation should have been presented for the group as a whole only, with no breakdown by class.