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IAS 38 Intangible Assets
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- Amortization
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The systematic allocation of the depreciable amount of an intangible asset over its useful life
- Asset
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An asset is a resource:
a. Controlled by an entity as a result of past events; and
b. From which future economic benefits are expected to flow to the entity.
- Carrying amount
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The amount at which an asset is recognized in the statement of financial position after deducting any accumulated amortization and accumulated impairment losses thereon
- Cost
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The amount of cash or cash equivalents paid, or the fair value of other consideration given to acquire an asset at the time of its acquisition or construction, or, when applicable, the amount attributed to that asset when initially recognized in accordance with the specific requirements of another IFRS® Accounting Standard
- Depreciable amount
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The cost of an asset, or other amount substituted for cost, less its residual value
- Development
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The application of research findings or other knowledge to a plan or design for the production of new or substantially improved materials, devices, products, processes, systems, or services before the start of commercial production or use
- Fair value
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The price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date
- Intangible asset
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An intangible asset is an identifiable non-monetary asset without physical substance.
- Monetary assets
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Money held and assets to be received in fixed or determinable amounts of money
- Research
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Original and planned investigation undertaken with the prospect of gaining new scientific or technical knowledge and understanding
- Useful life
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Useful life is:
a. The period over which an asset is expected to be available for use by an entity; or
b. The number of production or similar units expected to be obtained from the asset by an entity.