International Accounting Standard 38 (IAS38)
Intangible Assets
Please note this is a summary of IAS 38, for more detailed information please contact Brand Finance, or visit www.iasb.org
The objective of IAS 38 is to prescribe the accounting treatment for intangible assets that are not dealt with specifically in another IAS. The Standard requires an enterprise 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 requires certain disclosures regarding intangible assets.
IAS 38 applies to all intangible assets other than:
Key Areas of IAS 38
- Recognition
- Recognition criteria
- If recognition is not met
- Business Combinations
- Reinstatement
- Initial Recognition
- Research and Development Costs
- In-process Research and Development Acquired in a Business Combination
- Internally Generated Brands, Mastheads, Titles, Lists
- Computer Software
- Certain Other Defined Types of Costs
- Initial Measurement
- Measurement Subsequent to Acquisition: Cost Model and Revaluation Models Allowed
- Cost Model
- Revaluation Model
- Classification of Intangible Assets Based on Useful Life
- Indefinite Life
- Measurement Subsequent to Acquisition: Intangible Assets with Indefinite Lives
- Finite Life
- Measurement Subsequent to Acquisition: Intangible Assets with Finite Lives
- Subsequent Expenditure
- Disclosure
More Relevant Accounting Standards