IAS 38Chapter 13Lesson 1
Disclosures about intangible assets
Step 1 of 6Learning objectives
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What the note on intangible assets must contain: information by class (useful lives, methods, gross amounts and accumulated amounts, profit or loss line items), a complete reconciliation from opening to closing, targeted information (indefinite-life assets and reasons, material assets, pledged assets, commitments), the amount of R&D expensed and, where relevant, information on revaluation.
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Learning objectives
- Identify the information to be disclosed for each class of intangible assets.
- Build the reconciliation table of opening and closing carrying amounts, and check its totals.
- Draft the disclosure for an indefinite-life asset and identify the other targeted disclosures.
- Calculate the amount of R&D expenditure recognised as an expense to be disclosed.
- Exercise judgment on grouping into classes and on the materiality of the information.