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Essay text:
list recognition criteria
Additionally, the framework also provides a broad view of the recognition criteria items need to satisfy before they are considered to be assets. The framework states:
a) it is probable that future economic benefits associated with the time will flow to or from the entity ; and
b) the item has a cost or value that can be measured with reliability.
3. Mention e&e have low prob so management can use the following methods to capitalise as an asset
The implications involved with exploration and evaluation is that the industry is associated with low probability and any activities do not guarantee any future economic benefits nor can it be measured reliably...
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