Data bought for call centre purposes is extremely expensive and valuable, are there rules about being able to capitalise this as a fixed asset in the balance sheet? I have seen it done recently and wondered what the rules were exactly?
Thanks
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IAS38
The data would be classed as an intangible asset and can be capitalised in accordance with IAS38.
The cost should be amortised over its estimated useful life, and should be subjected to impairment reviews.