Wiley Interpretation and Application of IFRS Standards

11Intangible Assets

1. Introduction
2. Scope
3. Definitions of Terms
4. Recognition and Measurement
   1. Background
   2. Nature of Intangible Assets
   3. Recognition Criteria
      1. Identifiability
      2. Control
      3. Future Economic Benefits
   4. Measurement of the Cost of Intangibles
      1. Intangibles Acquired Through an Exchange of Assets
      2. Intangibles Acquired at Little or No Cost by Means of Government Grants
   5. Internally Generated Intangibles other than Goodwill
      1. Recognition of Internally Generated Computer Software Costs
   6. Costs Not Satisfying the IAS 38 Recognition Criteria
   7. Subsequently Incurred Costs
   8. Measurement Subsequent to Initial Recognition
      1. Cost Model
      2. Revaluation Model
      3. Development Costs as a Special Case
   9. Amortisation Period
      1. Customer Lists
      2. Patents
      3. Copyrights
      4. Renewable Licence Rights
   10. Residual Value
       1. Periodic Review of Useful Life Assumptions and Amortisation Methods Employed
   11. Impairment Losses
   12. Derecognition of Intangible Assets
   13. Website Development and Operating Costs
5. Disclosures
6. Example of Financial Statement Disclosure
7. US GAAP Comparison

Introduction

Non-current assets are those that will provide economic benefits to an entity for a number of future periods. Accounting standards regarding long-lived assets involve determination of the appropriate cost at which to record the assets initially, the amount at which to measure the assets at subsequent reporting dates, and the appropriate method(s) to be used to allocate the cost over the periods being benefited, if that is appropriate.

Non-current non-financial ...