Perfect for accounting professionals, students, and anyone keen on mastering International Accounting Standard 38, these notes provide a personal touch to understanding the intricacies of intangible asset accounting. Delve into detailed explanations, practical examples, and insightful interpretatio...
⑦ C2 O
3
Identifiable non-monetary asset without
physical substance
&
lase.
IAS 38 .
IAS
12 38 8
.
①- Identifiable asset is either
separable arises from contractual
or
or
legal rights ↓
Canb dividedorseparate from the entity
oa an
Fixed deposit
↑
⑳ > Nour monetary ; Monetary assets money
held and assets
are
to be received in fixed or determinable amounts of money g Recipe e .
Trade Marks
Licenses
Copy rights
Patents
③
Without physicasubstance: HottangibleSome
a
as
.
to determine significant which is .
>
-
Housing of the asset is not the asset
, Initial
recognition
Recognition criteria
Probable future
>
-
economic benefits will flow to the entity
Cost of the
>
-
asset is measured reliably ·
Initial measurement
·
Measured at cost
>
- Purchase
price
Import duties
>
-
>
-
Non-refundable purchase taxes
for
Any directly attributable cost of
>
-
preparing the asset
its intended use.
Recognition of costs ceases when asset is in condition necessary
for its intended use
If deferred
.
payment
is
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