Ias 38 – 2021 Issued ifrs standards (Part A)

RETIREMENTS AND DISPOSALS
112
DISCLOSURE
118
General
118
Intangible assets measured after recognition using the revaluation model
124
Research and development expenditure
126
Other information
128
TRANSITIONAL PROVISIONS AND EFFECTIVE DATE
130
Exchanges of similar assets
131
Early application
132
WITHDRAWAL OF IAS 38 (ISSUED 1998)
133
continued...
IAS 38
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© IFRS Foundation

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...continued
APPROVAL BY THE BOARD OF IAS 38 ISSUED IN MARCH 2004
APPROVAL BY THE BOARD OF CLARIFICATION OF ACCEPTABLE
METHODS OF DEPRECIATION AND AMORTISATION (AMENDMENTS TO
IAS 16 AND IAS 38) ISSUED IN MAY 2014
FOR THE ACCOMPANYING GUIDANCE LISTED BELOW, SEE PART B OF THIS EDITION
ILLUSTRATIVE EXAMPLES
Assessing the useful lives of intangible assets
FOR THE BASIS FOR CONCLUSIONS, SEE PART C OF THIS EDITION
BASIS FOR CONCLUSIONS
DISSENTING OPINIONS
IAS 38
© IFRS Foundation
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International Accounting Standard 38 Intangible Assets (IAS 38) is set out
in paragraphs 1–133. All the paragraphs have equal authority but retain the IASC
format of the Standard when it was adopted by the IASB. IAS 38 should be read in the
context of its objective and the Basis for Conclusions, the Preface to IFRS Standards and
the Conceptual Framework for Financial Reporting. IAS 8 Accounting Policies, Changes in
Accounting Estimates and Errors provides a basis for selecting and applying accounting
policies in the absence of explicit guidance.
IAS 38
A1490
© IFRS Foundation

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International Accounting Standard 38
Intangible Assets
Objective
The objective of this Standard is to prescribe the accounting treatment for
intangible assets that are not dealt with specifically in another Standard. This
Standard requires an entity to recognise an intangible asset if, and only if,
specified criteria are met. The Standard also specifies how to measure the
carrying amount of intangible assets and requires specified disclosures about
intangible assets.
Scope
This Standard shall be applied in accounting for intangible assets, except: 
(a)
intangible assets that are within the scope of another Standard;
(b)
financial assets, as defined in IAS 32 Financial Instruments:
Presentation;
(c)
the recognition and measurement of exploration and evaluation
assets (see IFRS 6 Exploration for and Evaluation of Mineral Resources);
and
(d)
expenditure on the development and extraction of minerals, oil,
natural gas and similar non-regenerative resources.
If another Standard prescribes the accounting for a specific type of intangible
asset, an entity applies that Standard instead of this Standard. For example,
this Standard does not apply to: 
(a)
intangible assets held by an entity for sale in the ordinary course of
business (see  IAS 2 Inventories).
(b)
deferred tax assets (see IAS 12 Income Taxes).
(c)
leases of intangible assets accounted for in accordance with IFRS 16
Leases.
(d)
assets arising from employee benefits (see IAS 19 Employee Benefits).
(e)
financial assets as defined in IAS 32. The recognition and measurement
of some financial assets are covered by IFRS 10 Consolidated Financial
Statements, IAS 27 Separate Financial Statements and IAS 28 Investments in
Associates and Joint Ventures.
(f)
goodwill acquired in a business combination (see IFRS 3 Business
Combinations).
(g)
contracts within the scope of IFRS 17 Insurance Contracts and any assets
for insurance acquisition cash flows as defined in IFRS 17.
1
2
3
IAS 38
© IFRS Foundation
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(h)
non-current intangible assets classified as held for sale (or included in
a disposal group that is classified as held for sale) in accordance
with IFRS 5 Non-current Assets Held for Sale and Discontinued Operations.
(i)
assets arising from contracts with customers that are recognised in
accordance with IFRS 15 Revenue from Contracts with Customers.
Some intangible assets may be contained in or on a physical substance such as
a compact disc (in the case of computer software), legal documentation (in the
case of a licence or patent) or film. In determining whether an asset that
incorporates both intangible and tangible elements should be treated under
IAS 16 Property, Plant and Equipment or as an intangible asset under this
Standard, an entity uses judgement to assess which element is more
significant. For example, computer software for a computer-controlled
machine tool that cannot operate without that specific software is an integral