Acca financial Accounting (FA) Study Text ac ca (FA)


What amount is charged to the statement of profit or loss in the year



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What amount is charged to the statement of profit or loss in the year 

ended 31 December 20X6? 

A Nil 


B $250,000 

C $100,000 

D $50,000 



Measurement of intangible assets 

Initial recognition and measurement 

IAS 38 Intangible Assets says that 



'an intangible asset shall be measured 

initially at cost' 

(IAS 38, para 24). 



Subsequent measurement 

IAS 38 permits either the cost model or the valuation model to be used for 

subsequent measurement. If the cost model is applied, an intangible asset 

'shall be carried at its cost, less any accumulated amortisation and any 

accumulated impairment losses'

 (IAS 38, para 74). 

 

 



 

Chapter 9 

KAPLAN PUBLISHING



 

169 

For the valuation model to be applied



'fair value should be measured by 

reference to an active market' 

(IAS 38, para 75). In effect, this requires the 

intangible assets to be homogeneous (i.e. identical) in nature. This is very rarely 

the case and therefore, to all intents and purposes, intangible assets are 

accounted for using the cost model. In practical terms, capitalised development 

costs would not meet the criteria for the valuation model to apply and the cost 

model should always be applied. 

In rare situations where the valuation model can be applied, in a similar way to 

IAS 16 dealing with revaluation of property, plant and equipment, any upward 

revaluation is recorded as an item of other comprehensive income for the year 

and taken to a separate revaluation surplus for intangible assets within equity 

on the statement of financial position. 




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