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IFRS IAS 38: Intangible Assets Guide

The document discusses accounting standards for intangible assets according to IAS 38. It defines intangible assets as non-monetary assets that are identifiable, lack physical substance, and arise from contractual or legal rights or are internally generated. An intangible asset must be controlled by the entity through custody or legal rights and provide future economic benefits to be recognized. The document outlines criteria for initial measurement, subsequent measurement using cost and revaluation models, and amortization of intangible assets over their useful lives.

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146 views15 pages

IFRS IAS 38: Intangible Assets Guide

The document discusses accounting standards for intangible assets according to IAS 38. It defines intangible assets as non-monetary assets that are identifiable, lack physical substance, and arise from contractual or legal rights or are internally generated. An intangible asset must be controlled by the entity through custody or legal rights and provide future economic benefits to be recognized. The document outlines criteria for initial measurement, subsequent measurement using cost and revaluation models, and amortization of intangible assets over their useful lives.

Uploaded by

adnanefarrhani077
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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‫شهادة معايير المحاسبة الدولية‬

IFRS Certificate
www.lionzcafe.com IAS 38
Intangible Assets
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IAS 38
Intangible Assets
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1- Resources controlled by entity

2- and have future economic benefits

3- result from past event


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Intangible assets :

Identifiable : Capable of being separated and sold, arises from


contractual or other legal rights

Non monetary : Cannot be readily converted into cash

Without physical substance


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Intangible assets :

Identifiable : Capable of being separated and sold, arises from


contractual or other legal rights

Non monetary : Cannot be readily converted into cash

Without physical substance


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Control
For an intangible asset is normally provided by law
www.lionzcafe.com Examples
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🠶The recognition depends on two criteria

1-Future economic benefit

2-Cost of asset can be measured reliably


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Initial Measurement

🠶 Components of cost

1- Purchase price

2- Any direct cost and necessary to make the asset


working for its intended use.
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Measurement subsequent to
initial recognition
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Cost Model VS Revaluation Model

Cost Model Revaluation Model


Cost of asset Asset at revalued amount (Fair value)
at the date of revaluation

Less (-) less (-)

Accumulated Amortization Subsequent accumulated Amortization

and and

accumulated impairment loss Subsequent accumulated impairment


losses.
www.lionzcafe.com Exchange of assets

If one intangible asset is exchanged for another, the


cost of the intangible is measured at fair value

If the fair value cannot be reliably measured, the cost


will be the carrying amount of the asset exchanged.
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Internally Generated
Research phase Development phase

Capitalize if all criteria met


1- Technical feasibility to complete
• Expenses costs 2- Intention to complete
as incurred 3- Ability to use or sell
4- Adequate all resourced to
complete
5- Future economic benefits
6- Expenditure measured reliably
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Amortization

Amortisation should start when the asset is available for use

Should be amortised over Its expected useful life

Intangible assets with an indefinite useful life should not


be amortised.

Should be tested at least annually for impairment.


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‫لو عجبك الفيديو برجاء اإلشترك في القناة عن‬


... ‫طريق الضغط علي‬

Created by : Hany Sayed


Mail : hanysayedmohamed40@gmail.com

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