ACCA P2考試： IAS 38 Intangible Assets

1. Identifiability

An intangible asset, whether generated internally or acquired in a business combination, is identifiable when it:

• is separable; or

• arises from contractual or other legal rights.

2. Initial Measurement

Intangible assets should be measured initially at cost, following the same principles as for tangible assets.

An intangible asset may be acquired:

separately;

as part of a business combination;

by way of a government grant;

internally generated; or

by an exchange of assets.

3. Subsequent Measurement

An entity can choose either a cost or revaluation model.

3.1 Cost Model

Cost less any accumulated amortisation and any accumulated impairment losses.

3.2 Revaluation Model

Revalued amount, being fair value at the date of the revaluation less any subsequent accumulated amortisation and any accumulated impairment losses.

Fair value must be measured by reference to an active market.

This is different from the treatment of revaluation under IAS 16 where depreciated replacement cost can be used when there is no evidence of market value.

The revaluation model does not allow:

the revaluation of intangible assets which have not previously been recognised as assets;

the initial recognition of intangible assets at amounts other than their cost.

The revaluation is carried out according to the same principles applied in accounting for other assets. For example:

surplus is taken through other comprehensive income and increases the revaluation surplus;

deficit is expensed unless covered by a previously recognised surplus;

all intangibles in the class must be revalued, etc.