hkas38 intangible assets

Hkas38 intangible - Intangible Assets Hong Kong Accounting Standard 38 HKAS 38 Revised May 2009 March 2010 Effective for annual periods beginning

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Unformatted text preview: Intangible Assets Hong Kong Accounting Standard 38 HKAS 38 Revised May 2009 March 2010 Effective for annual periods beginning on or after 1 January 2005 HKAS 38 © Copyright 2 COPYRIGHT © Copyright 2010 Hong Kong Institute of Certified Public Accountants This Hong Kong Financial Reporting Standard contains International Accounting Standards Committee Foundation copyright material. Reproduction within Hong Kong in unaltered form (retaining this notice) is permitted for personal and non-commercial use subject to the inclusion of an acknowledgment of the source. Requests and inquiries concerning reproduction and rights for commercial purposes within Hong Kong should be addressed to the Director, Operation and Finance, Hong Kong Institute of Certified Public Accountants, 37/F., Wu Chung House, 213 Queen's Road East, Wanchai, Hong Kong. All rights in this material outside of Hong Kong are reserved by International Accounting Standards Committee Foundation. Reproduction of Hong Kong Financial Reporting Standards outside of Hong Kong in unaltered form (retaining this notice) is permitted for personal and non-commercial use only. Further information and requests for authorisation to reproduce for commercial purposes outside Hong Kong should be addressed to the International Accounting Standards Committee Foundation at www.iasb.org . HKAS 38 (August 2004) © Copyright 3 CONTENTS paragraphs INTRODUCTION IN1-IN13 HONG KONG ACCOUNTING STANDARD 38 INTANGIBLE ASSETS OBJECTIVE 1 SCOPE 2-7 DEFINITIONS 8-17 Intangible assets 9-17 Identifiability 11-12 Control 13-16 Future economic benefits 17 RECOGNITION AND MEASUREMENT 18-67 Separate acquisition 25-32 Acquisition as part of a business combination 33-43 Measuring the fair value of an intangible asset acquired in a business combination 35-41 Subsequent expenditure on an acquired in-process research and development project 42-43 Acquisition by way of a government grant 44 Exchanges of assets 45-47 Internally generated goodwill 48-50 Internally generated intangible assets 51-67 Research phase 54-56 Development phase 57-64 Cost of an internally generated intangible asset 65-67 RECOGNITION OF AN EXPENSE 68-71 Past expenses not to be recognised as an asset 71 HKAS 38 (December 2007 March 2010 ) © Copyright 4 MEASUREMENT AFTER RECOGNITION 72-87 Cost model 74 Revaluation model 75-87 USEFUL LIFE 88-96 INTANGIBLE ASSETS WITH FINITE USEFUL LIVES 97-106 Amortisation period and amortisation method 97-99 Residual value 100-103 Review of amortisation period and amortisation method 104-106 INTANGIBLE ASSETS WITH INDEFINITE USEFUL LIVES 107-110 Review of useful life assessment 109-110 RECOVERABILITY OF THE CARRYING AMOUNT—IMPAIRMENT LOSSES 111 RETIREMENTS AND DISPOSALS 112-117 DISCLOSURE 118-128 General 118-123 Intangible assets measured after recognition using the revaluation model 124-125 Research and development expenditure 126-127 Other information 128 TRANSITIONAL PROVISIONS AND EFFECTIVE DATE...
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This note was uploaded on 10/20/2010 for the course AD abc123 taught by Professor Cat during the Summer '09 term at City University of Hong Kong.

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Hkas38 intangible - Intangible Assets Hong Kong Accounting Standard 38 HKAS 38 Revised May 2009 March 2010 Effective for annual periods beginning

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