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INTANGIBLE ASSETS
Chapter Objectives
At the completion of studying this chapter, you will
be able to:
KEY DEFINITIONS
OBJECTIVE OF IAS 38
Not an
intangible
asset
No
3. Capable of generating
future economic benefits?
2.
Controlled?
Yes
Defined
No
1.
Identifiable?
Intangible
resource
Yes
No
5. Cost reliably
measured?
Yes
Yes
Recognised
No
Not
recognised
RECOGNITION
INTERNALLY GENERATED
INTANGIBLE ASSETS
Internally
generated
intangible assets
Internally
generated goodwill
NO!
Research
phase
Development
phase
NO!
Only if strict
criteria met
RESEARCH PHASE
DEVELOPMENT PHASE
PROHIBITED COST
14
MEASUREMENT
Initial
measurement:
cost
Subsequent
costs:
expense
(unless can
prove
enhanced
economic
benefits)
Benchmark treatment
continue to carry at cost*
Alternative treatment
carry at re-valued amount*
by reference to active market
* less amortisation and
impairment provisions
2,000
2,000
18
Dr
Cr
Dr
Cr
4,000
depreciation
MAJOR DISCLOSURES
Internally
generated
Useful lives
or
amortisation
rates
Gross
opening &
closing
balances
Disclose
separately
Acquired
Reconciliation
of movements
in year
Re-valued
intangibles