IAS 38 ‘Intangible Assets’ and GAPSME define such assets as identifiable non-monetary assets without physical substance.
The intangible asset’s lack of physical substance doesn’t mean that it is not identifiable. For instance, an intangible asset may be identifiable because despite it lacking physical substance, it can still be sold to another party separately. Another example is an intangible asset arising from contractual or other legal rights.
There are various types of intangible assets, and the accounting treatment tends to differ between one type and another. Moreover, it is not always straightforward to decide whether the intangible expenditure is to be capitalised or not.
The seminar will provide an overview of the various types of intangible assets, as well as the way that they’re treated. A selected number of special situations shall be tackled:
- When are cryptographic assets classified as intangibles?
- How do we treat set-up costs?
- How are web sites costs treated?
- Are customer lists capitalised?
The seminar will also delve into the fair value measurement of intangible assets and the situations where this is allowed or not.
The training course is specifically targeted to accounting professionals and students, especially those who are pursuing or intend to pursue a career in audit, accountancy or IFRS expertise.
Participants are expected to have a solid understanding of basic accounting concepts, including double entry and basic financial reporting.
Wednesday 24th June 2020
08:45 – 09:00 – Registration
09:00 – 10:30 – Part 1
10:30 – 10:45 – Coffee Break
10:45 – 12:00 – Part 2
12:00 – 12:15 – Question Time
3 core hours
- Introduction and Recognition of Intangible Assets.
- Measurement of Intangible Assets.
- Complex Aspects Relating to Intangible Assets.
- Disclosures of Intangible Assets.