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Compiled AASB Standard  AASB 138

Intangible Assets

This compiled Standard applies to annual periods beginning on or after 1 January 2023 but before 1 July 2026.  Earlier application is permitted for annual periods beginning on or after 1 January 2014 but before 1 January 2023.  It incorporates relevant amendments made up to and including 15 December 2022.

Prepared on 6 April 2023 by the staff of the Australian Accounting Standards Board.

Compilation no. 5

Compilation date:  31 December 2022

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COPYRIGHT
© Commonwealth of Australia 2023
This compiled AASB Standard contains IFRS Foundation copyright material.  Reproduction within Australia in unaltered form (retaining this notice) is permitted for personal and non-commercial use subject to the inclusion of an acknowledgment of the source.  Requests and enquiries concerning reproduction and rights for commercial purposes within Australia should be addressed to The Managing Director, Australian Accounting Standards Board, PO Box 204, Collins Street West, Victoria 8007.
All existing rights in this material are reserved outside Australia.  Reproduction outside Australia in unaltered form (retaining this notice) is permitted for personal and non-commercial use only.  Further information and requests for authorisation to reproduce IFRS Foundation copyright material for commercial purposes outside Australia should be addressed to the IFRS Foundation at www.ifrs.org.

Contents

COMPARISON WITH IAS 38
ACCOUNTING STANDARD
AASB 138 INTANGIBLE ASSETS

from paragraph
Objective 1
Scope 2
Definitions 8
Intangible assets 9
Identifiability 11
Control 13
Future economic benefits 17
Recognition and measurement 18
Separate acquisition 25
Acquisition as part of a business combination 33
Intangible asset acquired in a business combination 35
Subsequent expenditure on an acquired in-process research and development project 42
Acquisition by way of a government grant 44
Exchanges of assets 45
Internally generated goodwill 48
Internally generated intangible assets 51
Research phase 54
Development phase 57
Cost of an internally generated intangible asset 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 life 88
Intangible assets with finite useful lives
Amortisation period and amortisation method 97
Residual value 100
Review of amortisation period and amortisation method 104
Intangible assets with indefinite useful lives 107
Review of useful life assessment 109
Recoverability of the carrying amount—impairment losses 111
Retirements and disposals 112
Disclosure
General 118
Intangible assets measured after recognition using the revaluation model 124
Research and development expenditure 126
Other