IAS 38 - Intangible Assets
Financial Dictionary — IFRS & IAS Standards
Definition
IAS 38 covers the recognition, measurement, and amortization of intangible assets such as software, patents, and trademarks. An intangible asset must provide future economic benefits and be identifiable.
Use cases, Example & Why it matters
Use cases
- Used when applying IFRS/IAS requirements for recognition, measurement, presentation, or disclosure.
- Used to justify accounting treatments in working papers and financial statement notes.
- Used to justify accounting treatments in working papers and financial statement notes.
Example
- Example: When preparing year-end reporting, management applies **IAS 38 - Intangible Assets** to determine the correct IFRS treatment and disclosures.
Why it matters
- Why it matters: Ensures compliance with IFRS, improves comparability across periods and entities, and reduces financial reporting risk.