33. Goodwill created from within the enterprises shall not be recognized as assets.

34. Costs incurred to generate future economic benefits but not form intangible fixed assets because they fail to satisfy the definition and recognition criteria in this standard but to create goodwill within the enterprises.

The goodwill created within the enterprises shall not be recognized as assets since they are not identifiable resources, nor appraisable in a reliable way nor controllable by the enterprises.

35. The difference between the market value of an enterprise and the value of its net asset value recorded on the financial statement, which is determined at a certain point of time, shall not be recognized as an intangible fixed asset controlled by the enterprise.

INTANGIBLE FIXED ASSETS CREATED FROM WITHIN THE ENTERPRISES

36. In order to assess whether or not an intangible asset created from within an enterprise on the date of arising of the operation meets the intangible fixed asset definition and recognition criteria, the enterprise must divide the asset-forming process into:

a/ The research stage; and

b/ The development stage.

37. If the enterprise cannot distinguish the research stage from the development stage of an internal intangible asset-creating project, it must account all incurred costs related to such project as expenses so as to determine the business results in the period.