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  • FR - Ias 38

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    Zubair Jalloh
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    The document discusses accounting standards for intangible assets under IAS 38 and IFRS 15. It notes that IAS 38 prohibits revaluing brands, patents, publishing rights, and trademarks but allows revaluation of other intangibles using the revaluation model under IAS 16. For intangible assets to be recognized separately from goodwill during a business combination, their cost must equal their fair value at the date of acquisition.

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    IAS 38

    Original Title

    FR - IAS 38 (2)

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    The document discusses accounting standards for intangible assets under IAS 38 and IFRS 15. It notes that IAS 38 prohibits revaluing brands, patents, publishing rights, and trademarks but allows revaluation of other intangibles using the revaluation model under IAS 16. For intangible assets to be recognized separately from goodwill during a business combination, their cost must equal their fair value at the date of acquisition.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    7 views1 page

    FR - Ias 38

    Uploaded by

    Zubair Jalloh
    The document discusses accounting standards for intangible assets under IAS 38 and IFRS 15. It notes that IAS 38 prohibits revaluing brands, patents, publishing rights, and trademarks but allows revaluation of other intangibles using the revaluation model under IAS 16. For intangible assets to be recognized separately from goodwill during a business combination, their cost must equal their fair value at the date of acquisition.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    of 1

    Revalue entire class of intangibles @ same time

    If done for 3rd party = IFRS 15


    Use active market for FV
    Activities to obtain new knowledge
    Active market rare use Cost Model
    The search for
    applications of research findings or other knowledge REVALUATION MODEL BPP-T
    Evaluation & final selection of RESEARCH IAS 38: Prohibites the revaluation of; brands, patents, publishing rights & trademarks

    The search for alternatives IAS 16 Revaluation rules applied

    The formulation, design evaluation & final selection of possible alternatives IAS 38 EGs
    pre-prod'n/pre-use prototypes & models

    tools, moulds, & dies involving new tech Probable flow of economic benefit
    The design, construction & testing of: DEVELOPMENT
    pilot plant PIRATE Intention to complete

    chosen alternatives Reliable measure


    INTANGIBLES CRITERIA
    Adequate resources to complete
    NO RELIABLE MEASURE IAS 38
    ie, NOT IDENTIFIABLE Incapable of being separately realised from the bus DEVELOPMENT COSTS Technically feasible
    2
    Value not related to costs that have been incurred Expected to be profitable
    A/c for differently Includes dep'n of assets used on the project
    Value arise from: skilled employees, effective advert or strategic location
    No capitalisation & amortisation due to these XTICS (& difference to other intangibles) GOODWILL
    It value creators cannot be valued

    Value fluctuate based on internal & external factors in short time Cost = FV @ date of acquisition

    It value assessment highly subjective INTANGIBLE ASSET Acquired as part of bus combination Recognised separately from GOODWILL

    EG. brand

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