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ACCA FR知识点：无形资产的定义

文章来源：ACCA全球官网

发布时间：2021-09-08 10:23

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IAS®38 Intangible Assets is one of the key standards in the Financial Reporting(FR)exam,covering how companies should account for intangible assets.This standard can be examined in all sections of the exam.A well-prepared candidate needs to be able to understand and explain the key principles of the standard,in addition to preparing calculations.These calculations mainly relate to the initial recognition or subsequent measurement of the asset.

Definition of an intangible asset

An intangible asset is defined under International Financial Reporting Standards(IFRS®)as‘an identifiable,non-monetary asset without physical substance’.This definition is already a little unhelpful for students,and this article will break it down more.

(a)Identifiable

For an intangible asset to be identifiable,this means that it must be separable or arise from legal/contractual rights.

Separable intangible assets will be items that can be separated from the entity as a whole,meaning that they could be acquired from the entity without having to acquire the entire company.Items which may be categorised as separable intangible assets are commonly items such as licences or patents,where one entity can acquire the rights from another.

In addition to this,brand names are also likely to be separable.A company may operate many different product lines and may be willing to sell one of those brands,which could be done without selling the entire company.It is important to note that internally generated brands cannot be capitalised(ie recognised on the statement of financial position),which will be covered later in the article.

Legal/contractual rights often arise in consolidated accounts.For example,if an entity wanted to buy a controlling share in a company with many long-term contracts with major customers,these contracts would be recognised at fair value in the consolidated financial statements as key assets acquired with the subsidiary.In an entity’s individual accounts,legal/contractual rights might relate to something like a franchise agreement which the entity is not permitted to sell on to a third party.A franchise agreement such as this would still be identifiable for the purposes of the entity’s individual financial statements because it arose from legal/contractual rights,even though it cannot be sold separately.

(b)Non-monetary asset

Bank accounts or long-term investments where a fixed amount will be received will not qualify as intangible assets because these are monetary assets.This means that items such as trade receivables or loan receivables are not accounted for under IAS 38,even though they do not have physical substance.Another major asset you cannot physically touch could be an investment in shares in a company.All of these are examples of assets but would be accounted for in accordance with IFRS 9 Financial Instruments as financial assets and not intangible assets under IAS 38.

(c)Without physical substance

To keep it simple,the items covered under IAS 38 are items you cannot touch and are often technology-based.Therefore,this can include brand names,development costs related to research and development,patents,goodwill and similar items where all the company may physically hold is a legal document rather than a physical item.

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In 20X3,Entertain Co entered into negotiations to acquire the Gadgetworks brand from Gadget Co for$1.2 million.This would give Entertain Co the ability to sell products under the Gadgetworks brand and give access to the Gadgetworks web domain name.Entertain Co did not wish to acquire any other assets of the Gadget Co business,such as the other brands or properties so therefore had no interest in acquiring the Gadget Co business as a whole.

In this example,the Gadgetworks brand is clearly separable as negotiations are underway to acquire it separately from the rest of the Gadget Co business.It is a non-monetary asset and it has no physical substance.Therefore,assuming the recognition criteria discussed later in this article are met,it would be recognised as an intangible asset in the individual statement of financial position of Entertain Co at the cost of$1.2m(Dr Intangible Asset,Cr Cash).

Financial Reporting exam focus:

These definitions are important in the FR exam.They could be examined within sections A or B where you might need to identify correct statements,but could also be examined in section C where you apply the key principles to a scenario and explain the correct treatment of an item.

【ACCA FR知识点：无形资产的初始确认】

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