The Board discussed the recognition and measurement of intangible assets acquired in a business combination. The Board tentatively decided that:
- intangible assets that are identifiable (ie arising from contractual-legal rights or separable) can be measured reliably and should be recognised separately from goodwill;
- identifiable intangible assets acquired in a business combination should be measured at an acquisition-date current exchange value rather than at an entity-specific value; and
- the final business combinations standard should include guidance on the initial and subsequent measurement of intangible assets that an acquirer does not intend to use or that an acquirer will use for a period significantly less than the economic useful life of those assets.