Ias 38 – 2021 Issued ifrs standards (Part A)

The following terms are used in this Standard with the meanings specified:
Amortisation is the systematic allocation of the depreciable amount of an
intangible asset over its useful life.
An asset is a resource:
(a)
controlled by an entity as a result of past events; and
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IAS 38
A1492
© IFRS Foundation

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(b)
from which future economic benefits are expected to flow to the
entity.
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Carrying amount is the amount at which an asset is recognised in the
statement of financial position after deducting any accumulated
amortisation and accumulated impairment losses thereon.
Cost is the amount of cash or cash equivalents paid or the fair value of