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Intangible asset (IAS 38 not applied (Goodwill (IAS 39), intangible asset…
Intangible asset
IAS 38 not applied
intangible asset use for sale
deferred tax
Leases
Financial asset
Goodwill
IAS 39
example
Employee training
not intangible asset
no control
self-made patented
yes
internally generated brands
not identifiable
internally generated goodwill
not identifiable
measurement
at recognition
at cost
separate acquisition
purchase price
import duties
non refundable taxes
w/o discounts
directly attributed cost
acquisition as part of business combination
fair value
transaction
measurement model
DCF
internally generated intangible assets
meets 3 criteria
directly attribuable cost
after recognition
cost model
revaluation model
every intangible asset
same measurement
unless
no active market
items traded in the
market are homogenous
uncommon for active market to exist
exist for
3 more items...
buyers and sellers normally be found at any time
prices are available for public
useful life
finite
allocate over its useful life
pattern not identifiable
straight-line method
indefinite
no be amortized
test annually impairment
R&D
IFRS
research-phase
expense
3rd criteria non atteint
acquired in-process
capitalized
development-phase
may be capitalized
after technical and commercial feasibility
US GAAP
development-phase
expense
except for software
external use
technological feasibility
internal use
capitalized
research-phase
expense
identifiable non-monetary asset
without physical substance
3 conditions all met
indentifiablity
separable from the firm as a whole
control
entity has power
future economic benefits
revenu, cost saving
using it