Intangible Assets (IAS 38/AASB 138)

Corporate Reporting Insights

BDO's monthly newsletter, Corporate Reporting Insights, keeps you up to date with the latest Australian and global developments in corporate financial and sustainability reporting.

• What to disclose about carbon credits in your financial statements (November 2024)
• Accounting for the sale of carbon credits generated by carbon abatement activities (September 2024)
• Accounting for carbon credits generated by carbon abatement activities (August 2024)
• Accounting for voluntary purchases of carbon credits (July 2024)
• Accounting for cryptocurrencies (IFRS® Accounting Standards vs US GAAP) (March 2024)
• ​Bed licences - Have you reviewed carr​ying amounts and estimated useful lives in 30 June 2021 financial statements?​ (October 2021)
• SAAS implementation costs – Do you need to write these off at 30 June 2021? (May 2021)
• When goodwill is not goodwill – Primary Healthcare restate their financial statements (March 2015)
• IASB clarifies acceptable methods of depreciation and amortisation (May 2014)
• Ten ways to materially misstate your financial statements…The ‘Blind Freddy’ proposition continued - Part 7 - Capitalising items that fail the definition of an asset (May 2012)
• Financial reporting panel makes four determinations (November 2010).

BDO Global IFRS Resources

The following publications have been produced by the BDO Global IFRS group:

► IFRS at a Glance

A high level overview of International Financial Reporting Standards (IFRSs), including International Accounting Standards and Interpretations.

• IAS 38 Intangible Assets
• IFRIC 12 Service Concession Arrangements
• IFRIC 20 Stripping Costs in the Production Phase of a Surface Mine
• SIC 29 Service Concession Arrangements: Disclosures​
• SIC 32 Intangible Assets – Web Site Costs.

► IFR Bulletins

Focus on latest developments in international financial reporting.

• Effects of climate-related matters on financial statements ​(IFRB 2020 14)​.

Webinars

BDO Australia conducts monthly complimentary webinars as an easy way to stay up to date with changes to accounting standards and other financial reporting developments. Recent webinars on this topic include:

• Accounting for R&D costs and intangible assets (September 2022).

IFRIC agenda decisions

IFRS Interpretations Committee (the Committee) agenda decisions are those issues that the Committee decided not to take onto its agenda. Although not authoritative guidance, in practice they are regarded as being highly persuasive, and all entities reporting under IFRS should be aware of these decisions because they could impact the way particular transactions and balances are accounted for. Agenda decisions on this topic include:

• Configuration or customisation costs  in a cloud computing arrangement​ (April 2021) and eLearning and FAQ
• ​Player transfer payments (June 2020) and eLearning​ and FAQ
• Training costs to fulfil a contract – IFRS 15 (March 2020) and eLearning​ and  FAQ
• Cryptocurrencies​ (June 2019) and eLearning​​​ and FAQ
• Customer’s rights to receive access to the supplier’s software hosted on the cloud (March 2019) and FAQ
• Goods acquired for promotional activities (Sep 2017) and FAQ
• Variable payments f​or asset purchases – IAS 16 and IAS 38​ (March 2016) and FAQ
• Amortisation method – intangible assets with a finite useful life (June 2010) and FAQ
• Compliance costs for the registration, evaluation, authorisation and restriction of chemicals ​(July 2009) and FAQ.

Online training resources

Improve your knowledge of accounting standards by purchasing our online training resources on a variety of financial reporting topics. Resources available on this topic include:

• A seminar – a pre-recorded two-hour webinar that provides a high-level overview of the accounting standard, as well as a question and answer case study booklet