IAS 38 Intangible Assets (summary) - applies in 2024

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This is just the short executive summary of IAS 38 and does NOT replace the full standard - you can see the full text on IFRS Foundation's website.
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[@CPDbox]

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[@FatalFerret_mtg]

thank you Silvia - very helpful!

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This comes right on time! Have in a couple of days my group accounting & ifrs exam and this helps a lot to understand IAS 38,
Thanks a lot!

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Great summary ❤️

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Very helpful for revision.

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[@hani_mani]

Superb explanation

[@markcooper5]

What counts as allocated costs in the initial measurement when generating an internal intangible asset?

[@basmabachiri7084]

Hi Please can you post a video on the standard IAS 23, I desperatly need it. Thanks for all of your work btw, it's clear and very helpful.

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[@liviucotora5673]

Professional presentation, must continuum with how will do the continuum measurement of the Intangible Value Flow every day like the tangible flow posting in Tangible Accounting, so we need the Intangible Accounting extension

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[@Md_Shemul_Mia]

thank you

[@salue3137]

Helpful

[@komalsachdeva4511]

Thnks alot ...

[@toddgilbey3979]

The recognition of an intangible asset as future economic benefits, I'm assuming, is the Net Present Value of future cashflows generated from said asset, discounted at a discount rate in line with required rate of returns.

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[@zahraamber9372]

Please also help us understand IAS 23 Borrowing Costs...that standard is missing from your videos

[@ziaulislam5319]

#Zahra Borrowing cost ( IAS 23) is too simpler as compared to IAS 38.

[@kiranudhyog9743]

what treatment of preliminary expenses as per indian accounting standard 38

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[@sayedibrahim6718]

I need an explanation on the board in the form of pdf . thanks for you

[@syafirazak4622]

how about people who sell a cow. does the cow its count as an asset or another classification ?

[@olyneannie4739]

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[@jasontsui2256]

9:29 If the asset was previously revalued, then the impairment of that asset is debited to the revaluation surplus to decrease the revaluation reserve. What if the impairment loss is larger than the revaluation surplus, should I debit the excess amount back to P&L? For example, if the impairment loss is $100 and the revaluation surplus is $80, should I debit the excess of $20 to P&L?

[@CPDbox]

Yes.

[@syedbilal2407]

Shouldn't it be debitted to Other Comprehensive Income Statement?

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@@syedbilal2407 that is what p&l is

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[@zayaanahmed909]

Internally generated Brands, customer titles , publishing titles and similar assets are not recognised as intangible assets right? But you included them under the head internally generated intangible assets.

[@CPDbox]

Because they are internally generated intangible assets which do not meet the recognition criteria.

[@professordrabhijitsayamber2299]

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[@meditatingsoul4427]

Hello Silvia, Are you sure IAS 38 is since 70' applied? I see in every book since 1998 exists. KR. Krisztina

[@CPDbox]

Hello, Krisztina, I did not say that IAS 38 applied since 70s. I said that the first rules about intangibles applied since 70s - that's true because IAS 9 (accounting for R&D activities) was issued. IAS 38 was issued in 1998 and significantly refurbished in 2004. Best, S.

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[@komalsachdeva4511]

Thnks alot ...

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Om shanti de I

[@professordrabhijitsayamber2299]

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