assets intangible
What are the conditions to check whether Going concern assumption is affected in case of a particular entity while conducting audit?
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AS-26 adopts a presumption that the useful life of intangible assets does not exceed 10 Years and generally, the Asset should be depreciated within 5 Years.
In some cases, it may be longer than ten years but Disclosure is required about the basis of Management Judgement and it is probable that the future economic benefits will flow to the enterprise for a period longer than 10 Years.