Ias 38 Intangible Assets (1)

6,769 views

Published on

Published in: Business, Technology
1 Comment
2 Likes
Statistics
Notes
No Downloads
Views
Total views
6,769
On SlideShare
0
From Embeds
0
Number of Embeds
10
Actions
Shares
0
Downloads
129
Comments
1
Likes
2
Embeds 0
No embeds

No notes for slide

Ias 38 Intangible Assets (1)

  1. 1. IAS 38<br />INTANGIBLE ASSETS (Part one)<br />Definition & Recognition<br />1/17/2010<br />1<br />IAS 38 Intangible Assets Part One<br />
  2. 2. Objective<br />Specific criteria for recognition of intangible assets<br />Measure carrying amount of intangible assets<br />Specific disclosures about intangible assets<br />1/17/2010<br />2<br />IAS 38 Intangible Assets Part One<br />
  3. 3. Scope <br />Intangible assets except<br />Within the scope of another standard<br />Financial assets IAS 39<br />Exploration and evaluation assets of mineral resources IFRS 6<br />Expenditure on the development and extraction of minerals, oil, natural gas and similar non-regenerative resources<br />1/17/2010<br />3<br />IAS 38 Intangible Assets Part One<br />
  4. 4. Examples of intangible assets excluded from IAS 38<br />Intangibles held for sale in the ordinary course of business <br />Inventories IAS 2 <br />Construction contracts IAS 11<br />Deferred tax assets IAS12<br />Leases IAS 17<br />Employee benefits IAS19<br />Financial assets IAS 39, IAS 27, IAS 28, IAS 31<br />Goodwill IFRS 3<br />Insurance contracts IFRS 4<br />Intangible assets in discontinued operations IFRS 5<br />Activities or transactions are so specialised that another accounting treatment is appropriate (para 6)<br />1/17/2010<br />4<br />IAS 38 Intangible Assets Part One<br />
  5. 5. Software<br />Can be IAS 16 property plant and equipment or intangible asset<br />Elements of tangible (disc) and intangible (software) assets<br />When software is not an integral part of the related hardware, treat as intangible asset.<br />Computer controlled machine<br />Operating system of PC<br />1/17/2010<br />5<br />IAS 38 Intangible Assets Part One<br />
  6. 6. Examples of intangibles included in IAS 38<br />Advertising expenditure<br />Start-up costs<br />Research and development<br />Intangible assets under finance lease<br />Rights under licensing agreements (films, plays, manuscripts, patents, copyrights)<br />1/17/2010<br />6<br />IAS 38 Intangible Assets Part One<br />
  7. 7. Definitions<br />1/17/2010<br />7<br />IAS 38 Intangible Assets Part One<br />
  8. 8. Definitions<br />1/17/2010<br />8<br />IAS 38 Intangible Assets Part One<br />
  9. 9. Definitions<br />1/17/2010<br />9<br />IAS 38 Intangible Assets Part One<br />
  10. 10. Definitions<br />1/17/2010<br />10<br />IAS 38 Intangible Assets Part One<br />
  11. 11. Definitions<br />1/17/2010<br />11<br />IAS 38 Intangible Assets Part One<br />
  12. 12. Definitions<br />1/17/2010<br />12<br />IAS 38 Intangible Assets Part One<br />
  13. 13. Intangible assets<br />1/17/2010<br />13<br />IAS 38 Intangible Assets Part One<br />
  14. 14. Recognition of intangible asset<br />Must meet definition<br />Identifiable<br />Control over a resource<br />Future economic benefits<br />If it does not meet definition<br />Recognise expenditure as incurred<br />If acquired in a business combination<br />Forms part of goodwill at acquisition date<br />1/17/2010<br />14<br />IAS 38 Intangible Assets Part One<br />
  15. 15. Identifiable Intangible Asset<br />Separable<br />From entity<br />Can be sold, transferred, licensed, exchanged, rented<br />Individually or related contract, asset & liability<br />Arises from contractual or legal rights<br />The rights do not have to be separable<br />CONTINUED IN PART 2…<br />1/17/2010<br />15<br />IAS 38 Intangible Assets Part One<br />

×