IAS 38

International Accounting Standard 38

Intangible Assets
In April 2001 the International Accounting Standards Board (IASB) adopted IAS 38 Intangible
Assets, which had originally been issued by the International Accounting Standards
Committee in September 1998. That standard had replaced IAS 9 Research and Development
Costs, which had been issued in 1993, which itself replaced an earlier version called
Accounting for Research and Development Activities that had been issued in July 1978.
The IASB revised IAS 38 in March 2004 as part of the first phase of its business combinations project. In January 2008 the IASB amended IAS 36 again as part of the second phase of its business combinations project
Other IFRSs have made minor consequential amendments to IAS 38. They include IAS 16
Property, Plant and Equipment (issued December 2003), IAS 1 Presentation of Financial Statements
(as revised in September 2007) and Improvements to IFRSs (issued May 2008 and April 2009).

©

IFRS Foundation

A1027

IAS 38

CONTENTS from paragraph
INTRODUCTION

IN1

INTERNATIONAL ACCOUNTING STANDARD 38
INTANGIBLE ASSETS
OBJECTIVE

1

SCOPE

2

DEFINITIONS

8

Intangible assets

9

Identifiability
Control
Future economic benefits

11
13
17

RECOGNITION AND MEASUREMENT

18

Separate acquisition

25

Acquisition as part of a business combination
Intangible asset acquired in a business combination
Subsequent expenditure on an acquired in-process research and development project

33
35
42

Acquisition by way of a government grant

44

Exchanges of assets

45

Internally generated goodwill

48

Internally generated intangible assets

51

Research phase
Development phase
Cost of an internally generated intangible asset

54
57
65

RECOGNITION OF AN EXPENSE

68

Past expenses not to be recognised as an asset

71

MEASUREMENT AFTER RECOGNITION

72

Cost model

74

Revaluation model

75

USEFUL