Biomed International Ltd. is developing a new production process. During the financial year ending 31st March, 2017, the total expenditure incurred was Rs. 50 lakhs. This process met the criteria for recognition as an intangible asset on 1st December, 2016. Expenditure incurred till this date was Rs. 22 lakhs. Further expenditure incurred on the process for the financial year ending 31st March, 2018 was Rs. 80 lakhs. As at 31st March, 2018, the recoverable amount of knowhow embodied in the process is estimated to be Rs. 72 lakhs. This includes estimates of future cash outflows as well as inflows. The amount of impairment loss for the year ended 31st March, 2018 is
View solution