上述讨论提供完整详细的对资产可作为无形资产按AASB 138。在给定的情况下，所发生的各种费用的图片有限公司。这些费用将测试被限定这些资产为无形资产，从而利用成本。与直接邮寄给潜在客户，这是420万美元的成本。这是摊销单线的基础上，在三年的时间。另一方面，AASB 138提到，应该有权在客户为了确认有在客户控制。公司有这样的法律权利，在案件中没有提及。鉴于此，可以说，费用的摊销不能做，因为这些费用不能被列为无形资产。
Future Economic Benefit: for assets to be classified as intangible asset there should be future economic benefits that can be generated by the assets. These future benefits can be in the form of revenue increase or the cost savings that it results in. There can be other benefits that can be generated by the assets such as efficiency. These benefits can also be considered for the assets to be qualifying as the intangible asset.
The above discussion provides the complete detail on how the asset can be identified as intangible assets as per AASB 138. The various expenses incurred by Pics Ltd have been mentioned in the given case. These expenses will be tested for being qualifying of these assets as intangible assets and thus capitalizing the cost. The cost associated with the direct mailing to prospective customers which is $4.2 million. This is amortized on single line basis over the three year period. On the other hand AASB 138 mentions that there should be legal right over customers in order to confirm that there is control over the customers. The company is having such legal rights is not mentioned in the case. In view of this it can be said that the amortization of the expenses cannot be done as these expenses cannot be classified as intangible assets.
The second instance that has been discussed in the case is that Pics Ltd has purchased a list of customers from one of its competitors. The payment of $800,000 was recognised as non-current intangible asset arguing that the list will generate sales for two more years. However the purchase of the customer list does provide the company a database and the probability that the customer will remain associated for two years but the company is not having any legal right or control over the customers. Hence it cannot be said that the customers will be retained. In such a condition the AASB requirements are not fulfilled.
Considering the two scenarios, it can be said that the Pics Ltd has not correctly considered the expenses that have been incurred and putting these expenses as intangible assets. These expenses should be considered in the profit and loss account.