Discuss whether an organisations creativity would meet the

Assignment Detail:- Question 1Chambers, P -2022-, "Beefing up creativity in ready meals market", The Australian - Online, 27 March 2022- "Trying to create tangibility from something intangible like creativity could be a challenge - but a worthy one- However, it's the thing that keeps me up at night because unfortunately, the easiest things to measure are not sometimes the things that are the most important to measure: and creativity is notoriously hard to quantify-"-My Muscle Chef, Head of Marketing, Liam Loan-Lack- Required:Discuss whether an organisation's creativity would meet the AASB138 Intangible Assets definition of and intangible asset- Discuss whether AASB138 Intangible Assets resolves the issue of measurement implied in Mr Loan-Lack's statement that "creativity is notoriously hard to quantify"- Question 2 MadSurf Magazine is an Australian based business who distribute their magazine across the nation- The profits of the company are growing steadily and management and investors are seeing great results overall- The belief is that the company's success is due to its marketing flair and expertise- The company offer free delivery, although their magazine subscriptions are a little higher in price compared to other surf related magazines-The company is growing its customer list by advertising on social media platforms, and has even started to target prospective customers directly via emails and phone calls- The 30 June 2022 costs of delivery, advertising, mailings and phone calls is significant at $65,000 and MadSurf would like to capitalise these costs as an intangible asset, specifically as a customer list- For the year-end 30 June 2022, MadSurf also obtained an independent value of $80,000 for this customer list- Additionally, on 1 October 2021, MadSurf purchased a customer list from a competitor for $100,000, estimating that it would generate sales for another 3 years- After the purchase, MadSurf started conducting the phone calls -as noted above- and believes that alternatively the costs of these phone calls could be added to the purchased customer list- The extra names of customers obtained in the phone calls are expected to increase the useful life of this customer list by another year- Required1- Using AASB138 Intangible Assets, explain how MadSurf should account for the costs of: Delivery, advertising, mailings and phone calls totalling $65,000 The 1 October 2021 purchased customer list2- According to AASB138 Intangible Assets, explain whether MadSurf can: Use a fair value to initially measure a customer listCapitalise the costs of phone calls to the purchased customer list Question 3 Discuss -providing reasons- if the following items can be recorded as an intangible asset according to AASB138 Intangible Assets: Costs of searching for new ideas for product packaging Costs for the design of an improved product packaging Employee training costs associated with the new product packaging Payments for advertisements to increase the goodwill of the company The excess of a payment made to purchase of a competitor business Question 4 The latest annual report of Nine Entertainment states that the principal activities of the group are:"Broadcasting and program production across Free to Air television, Broadcast video on demand and metropolitan radio networks in Australia; Publishing across digital platforms and newspapers; Real estate media and technology services; and Subscription video on demand-" -Annual Report, 2021, p- 47- In the statement of financial position, Nine Entertainment discloses Total Assets of $3,911,184,000 and Intangibles of $2,266,441,000 -which is 58% of total assets-- Required:List and briefly define -eg, what are mastheads- the categories of intangible assets that Nine Entertainment Ltd own-For each category state whether the asset class:Is measured at cost or fair valueIs amortised or not amortised, and if amortised, what is the useful life Has been impairedIdentify if the company has capitalised any development costs and if so, where did you find this information????Discuss whether you agree or disagree:‘It is possible that Nine Enetratinment has spent more on intangible assets but has not been permitted to record these transactions as intangible assets -instead expensed them- due to the limitations of AASB 138 Intangible Assets-' Attachment:- Intangible asset-rar

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