IFRS - IAS 38 Intangible Assets

Tags

Top Highlights

• money held and assets to be received in fixed or determinable amounts of money

• another Standard

• financial assets

• exploration and evaluation assets

• non‑regenerative resources

• systematic allocation of the depreciable amount of an intangible asset over its useful life

• controlled

• future economic benefits

• amount at which an asset is recognised in the statement of financial position after deducting any accumulated amortisation and accumulated impairment losses

• cash or cash equivalents paid or the fair value of other consideration given to acquire an asset

• cost of an asset, or other amount substituted for cost, less its residual value

• application of research findings or other knowledge to a plan or design for the production of new or substantially improved

• present value of the cash flows an entity expects to arise from the continuing use of an asset

• price that would be received to sell an asset or paid to transfer a liability in an orderly transaction

• amount by which the carrying amount of an asset exceeds its recoverable amount.

• identifiable non‑monetary asset without physical substance

• original and planned investigation undertaken with the prospect of gaining new scientific or technical knowledge

• estimated amount that an entity would currently obtain from disposal of the asset, after deducting the estimated costs of disposal,

• capable of being separated or divided from the entity and sold, transferred, licensed, rented or exchanged

• arises from contractual or other legal rights