Philippine Accounting Standards 38: Intangible Assets
- nonmonetary asset
WITHOUT PHYSICAL
SUBSTANCE
- Identifiability
- Control
- Future economic benefits
- Identifiability
- INITIAL MEASUREMENT
- Cost
- SEPARATE ACQUISITION:
Cash or Cash Price
Equivalent
- ACQUISITION BY BUSINESS COMBINATION:
Fair value on acquisition
- Subsequent Expenditures:
Expense
- ACQUISITION BY GOVERNMENT GRANT:
(a) Fair value; (b) Nominal amount or
zero + directly attributable expenses
- ACQUISITION BY EXCHANGE:
(a) Fair value: with
commercial substance; (b)
Carrying Amount: lacks
commercial substance
- INTERNALLY GENERATED INTANGIBLE:
Not recognized as an asset
- SEPARATE ACQUISITION:
Cash or Cash Price
Equivalent
- Cost
- SUBSEQUENT MEASUREMENT
- COST MODEL:
Cost less
Accumulated
Amortization less
Accumulated
Impairment Loss
- REVALUATION MODEL:
Revalued Amount less
Subsequent
Amortization less
Accumulated
Impairment Loss
- COST MODEL:
Cost less
Accumulated
Amortization less
Accumulated
Impairment Loss
- AMORTIZATION OF INTANGIBLE ASSETS
- Finite Life
- pattern used by the
entity, otherwise,
straight line method
- change in amortization
method or useful life
shall be treated currently
and prospectively
- change in amortization
method or useful life
shall be treated currently
and prospectively
- pattern used by the
entity, otherwise,
straight line method
- Indefinite Life
- not amortized, only
tested for
impairment
- not amortized, only
tested for
impairment
- Finite Life
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