ias 38 pdf

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IAS 38 Intangible Assets 2017

IAS 38 Intangible Assets Objective The objective of this Standard is to prescribe the accounting treatment for intangible assets that are not dealt with specifically in another Standard This Standard requires an entity to recognise an intangible asset if and only if specified criteria are met Scope

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IAS 38 – 2021 Issued IFRS Standards (Part A)

International Accounting Standard 38 Intangible Assets (IAS 38) is set out in paragraphs 1–133 All the paragraphs have equal authority but retain the IASC format of the Standard when it was adopted by the IASB IAS 38 should be read in the context of its objective and the Basis for Conclusions the Preface to IFRS Standards and the

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IAS 38

IAS 38 Intangible Assets The objective of this Standard is to prescribe the accounting treatment for intangible assets that are not dealt with specifically in another Standard This Standard requires an entity to recognise an intangible asset if and only if specified criteria are met The Standard also specifies how to measure the carrying

What are ISSB and IAS 38 standards?
Our Standards are developed by our two standard-setting boards, the International Accounting Standards Board (IASB) and International Sustainability Standards Board (ISSB). IAS 38 sets out the criteria for recognising and measuring intangible assets and requires disclosures about them.
What is IAS 23?
IAS 23 specifies criteria for the recognition of interest as an element of the cost of an internally generated intangible asset. expenditure on training staff to operate the asset. An entity is developing a new production process.
What is IAS 38 intangible assets?
IAS 38 Intangible Assets outlines the accounting requirements for intangible assets, which are non-monetary assets which are without physical substance and identifiable (either being separable or arising from contractual or other legal rights).
What is IAS 38 recognition criteria?
Recognition criteria. IAS 38 requires an entity to recognise an intangible asset, whether purchased or self-created (at cost) if, and only if: [IAS 38.21] the cost of the asset can be measured reliably. This requirement applies whether an intangible asset is acquired externally or generated internally.

Objective

The objective of IAS 38 is to prescribe the accounting treatment for intangible assets that are not dealt with specifically in another IFRS. The Standard requires an entity to recognise an intangible asset if, and only if, certain criteria are met. The Standard also specifies how to measure the carrying amount of intangible assets and re

Scope

IAS 38 applies to all intangible assets other than: [IAS 38.2-3] 1. financial assets (see IAS 32 Financial Instruments: Presentation) 2. exploration and evaluation assets (see IFRS 6 Exploration for and Evaluation of Mineral Resources) 3. expenditure on the development and extraction of minerals, oil, natural gas, and simi

Key DeFINITions

Intangible asset:an identifiable non-monetary asset without physical substance. An asset is a resource that is controlled by the entity as a result of past events (for example, purchase or self-creation) and from which future economic benefits (inflows of cash or other assets) are expected. [IAS 38.8] Thus, the three critical attributes

recognition

Recognition criteria.IAS 38 requires an entity to recognise an intangible asset, whether purchased or self-created (at cost) if, and only if: [IAS 38.21] 1. it is probable that the future economic benefits that are attributable to the asset will flow to the entity; and 2. the cost of the asset can be measured reliably. This requirement a

Initial RecogNiTion: Research and DeVelOpMent Costs

Charge all research cost to expense. [IAS 38.54]Development costs are capitalised only after technical and commercial feasibility of the asset for sale or use have been established. This means that the entity must intend and be able

Initial RecogNiTion: InTerNally Generated Brands, Mastheads, Titles, Lists

Brands, mastheads, publishing titles, customer lists and items similar in substance that are internally generated should not be recognised as assets. [IAS 38.63] iasplus.com

Initial RecogNiTion: Computer Software

Purchased: capitaliseOperating system for hardware: include in hardware costInternally developed (whether for use or sale): charge to expense until technological feasibility, probable future benefits, intent and ability to use or sell the software, resources to co

Initial RecogNiTion: Certain Other Defined Types of Costs

The following items must be charged to expense when incurred: 1. internally generated goodwill [IAS 38.48] 2. start-up, pre-opening, and pre-operating costs [IAS 38.69] 3. training cost [IAS 38.69] 4. advertising and promotional cost, including mail order catalogues [IAS 38.69] 5. relocation costs [IAS 38.69] For this purpose, 'when

ClasSiFiCaTion of InTanGiBle Assets Based on Useful Life

Intangible assets are classified as: [IAS 38.88] 1. Indefinite life:no foreseeable limit to the period over which the asset is expected to generate net cash inflows for the entity. 2. Finite life:a limited period of benefit to the entity. iasplus.com

SubSeQuent expenditure

Due to the nature of intangible assets, subsequent expenditure will only rarely meet the criteria for being recognised in the carrying amount of an asset. [IAS 38.20] Subsequent expenditure on brands, mastheads, publishing titles, customer lists and similar items must always be recognised in profit or loss as incurred. [IAS 38.63] iasplus.com

PDF	IAS 38 – 2021 Issued IFRS Standards (Part A) Intangible Assets. In April 2001 the International Accounting Standards Board (Board) adopted IAS 38. Intangible Assets which had originally been issued by

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PDF	AP19A: Applying IAS 16 and IAS 38 to exploration and evaluation IAS 16 Property Plant and Equipment and IAS 38 Intangible Assets. 2. This paper does not contain any questions for the Board. Overview.

PDF	Uusi kansainvälinen tilinpäätösstandardi koskien yritysten Samaan aikaan julkaistiin muutokset standardeihin IAS 36 –. Impairment of Assets (omaisuuserien arvonalentuminen) sekä IAS 38 – Intangible Assets (aineettomat

PDF	Intangible Assets SB-FRS 38 1.1.2019 SB-FRS 38 should be read in the context of its objective the Preface to Statutory Board Financial Reporting Standards and the Conceptual.

PDF	Intangible Assets - UK-adopted international accounting standards International Accounting Standard 38 – Intangible Assets. UK-adopted international accounting standards contain copyright material of the IFRS® Foundation.

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