Ias 38 – 2021 Issued ifrs standards (Part A)

After initial recognition, an intangible asset shall be carried at its cost less
any accumulated amortisation and any accumulated impairment losses.
Revaluation model
After initial recognition, an intangible asset shall be carried at a revalued
amount, being its fair value at the date of the revaluation less any
subsequent accumulated amortisation and any subsequent
accumulated impairment losses. For the purpose of revaluations under this
Standard, fair value shall be measured by reference to an active market.
Revaluations shall be made with such regularity that at the end of the
reporting period the carrying amount of the asset does not differ
materially from its fair value.
The revaluation model does not allow:
(a)
the revaluation of intangible assets that have not previously been
recognised as assets; or
(b)
the initial recognition of intangible assets at amounts other than cost.
The revaluation model is applied after an asset has been initially recognised at
cost. However, if only part of the cost of an intangible asset is recognised as an
asset because the asset did not meet the criteria for recognition until part of
the way through the process (see paragraph 65), the revaluation model may be
applied to the whole of that asset. Also, the revaluation model may be applied
to an intangible asset that was received by way of a government grant and
recognised at a nominal amount (see paragraph 44).