• Register
Search Questions / Answers

Welcome to AccountantAnswer Forum, where you can ask questions and receive answers. Although you need not be a member to ask questions or provide answers, we invite you to register an account and be a member of our community for mutual help. You can register with your email or with facebook login in few seconds

Get AccountantAnswer App

What information is disclosed in the financial statements regarding intangible assets?

Recording of intangible assets

asked Dec 13, 2017 in General IFRS Discussion by anonymous

1 Answer

0 votes
Check out disclosure requirements in IAS 38 for details.

Some of the general requirements are as follows:

An entity shall disclose the following for each class of intangible assets,
distinguishing between internally generated intangible assets and other
intangible assets:
(a) whether the useful lives are indefinite or finite and, if finite, the
useful lives or the amortisation rates used;
(b) the amortisation methods used for intangible assets with finite
useful lives;
(c) the gross carrying amount and any accumulated amortisation
(aggregated with accumulated impairment losses) at the
beginning and end of the period;
(d) the line item(s) of the statement of comprehensive income in
which any amortisation of intangible assets is included;
(e) a reconciliation of the carrying amount at the beginning and end
of the period
answered Dec 17, 2017 by anonymous