Recently I had an argument with auditors of one company related to the customer list they bought. IAS 38 has illustrative examples. SIC 32 applies IAS 38 to website costs. 34-38) Disclosure (paras. This Standard requires an entity to recognise an intangible asset if, and only if, specified criteria are met. 1-4) Definitions (paras. Intangible assets (IAS 38) Regulatory deferral accounts (IFRS 14) Interim financial reporting (IAS 34) Related party disclosures (IAS 24) ... this publication is not providing any illustrative examples or guidance; Read More. IAS 38: Intangible Asset or Expense? Illustrative IFRS consolidated financial statements - Investment property 2020. Accordingly, this guide should not be used as a substitute for referring to the standards and other relevant interpretative guidance. The implementation guidance to IAS 1 contains illustrative examples of acceptable formats. IAS 38 Intangible Assets – Summary with Examples – PDF October 1, 2019 IAS 10 Events after the Reporting Period (VIDEO) October 1, 2019 IAS 7 Statement of Cash Flows – … The Illustrative Examples accompanying this Standard illustrate the determination of useful life for different intangible assets, and the subsequent accounting for those assets based on the useful life determinations. Taxi medallions. Acquiree’s in-process research & development project: Disclaimer: To the extent permitted by applicable law, the Board and the IFRS Foundation (Foundation) expressly disclaim all liability howsoever arising from this publication or any translation thereof IAS 38 Intangible Assets The objective of this Standard is to prescribe the accounting treatment for intangible assets that are not dealt with specifically in another Standard. approval by the board of ias 38 issued in march 2004 approval by the board of clarification of acceptable methods of depreciation and amortisation (amendments to ias 16 and ias 38) issued in may 2014 for the accompanying guidance listed below, see part b of this edition illustrative examples assessing the useful lives of intangible assets IFRS Manual of Accounting . Financial Instruments (2010) 233 VI Example disclosures for entities that early adopt IAS 19 . Scope See IAS 38 for retirements and disposals (similar to IAS 16 derecognition for PPE). Historical Financial Statements A.IV Historical Statement of Charges in Equity 38 PricewaterhouseCoopers Additional (all amounts expressed in HCU) historical Share Revaluation Translation Retained Total information Capital Reserve Reserve Earnings For-profit Prescribes the accounting treatment for intangible assets that are not dealt with specifically in another standard. Financial statements disclose corresponding information for the preceding period (comparatives), unless a IFRIC 32 applies IAS 38 to website costs. 1.Transitional provisions and effective dates have not been included. Intangible assets Topic summary provided by PwC, giving latest developments and overview, a summary of the standard and links to relevant resources. IAS 38 has always required entities to recognise costs arising from advertising and promotional activities as an expense when the expenditure is incurred in the application of the standard. (b) Deferred tax assets (see IAS 12 Income Taxes). Cost = FV @acquisition date. Chapter 7 – Illustrative example of IAS 29 A. Under the revaluation model, revaluation increases are credited directly to "revaluation surplus" IAS 38 Intangible Assets IAS 38 Intangible Assets 2017 - 05 1 Objective The objective of this Standard is to prescribe the accounting treatment for intangible assets that are not dealt with specifically in another Standard. Scope (paras. Illustrative Example—Long-term Interests in Associates and Joint Ventures This example portrays a hypothetical situation illustrating how an entity (investor) accounts for long-term interests that, in substance, form part of the entity’s net investment in an associate (long-term interests) applying IFRS 9 and IAS 28 based on the assumptions ... 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