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ACCA FR知识点：无形资产的后续计量
文章来源：ACCA全球官网
发布时间：2021-09-08 10:28
阅读：1085次
Subsequent measurement of intangible assets
Similar to the principles of IAS 16 Property,Plant and Equipment there are two major models for accounting for intangible assets.These are the cost model and the revaluation model,and the methods used in the application are very much in line with the IAS 16 methodology.
(a)Cost model
Under the cost model,the intangible asset must be amortised over its useful life.Amortisation is the same as depreciation,but is simply the term used for intangible assets.The major difference between accounting for intangible assets under the cost model compared to tangible assets relate to intangible assets with an indefinite life.For intangibles with an indefinite life(such as goodwill or possibly brand names),there is no amortisation but the company is required to perform an annual impairment review to assess whether the asset is impaired or not.【点击免费下载>>>更多ACCA学习相关资料】
(b)Revaluation model
In theory,IAS 38 allows for the revaluation of intangible assets and this would be accounted for in the same way as accounting for a revaluation of property,plant or equipment.Any increase in fair value would be added to the asset and recorded within other comprehensive income.
The main problem with revaluations under IAS 38 is that an item can only be revalued if there is an active market in place.This means that transactions would be taking place with sufficient regularity and volume to provide pricing information on an ongoing basis.This is unrealistic in practice as intangibles tend to be unique by their very nature.The examples quoted by the standard involve items such as fishing quotas and taxi licences,which goes some way to show that the standard itself is a little dated.
Financial Reporting exam focus:
In terms of calculations,the most commonly examined items are likely to be around the areas of amortisation or impairment.These could be in any area of the exam,but are unlikely to be particularly complex.In addition to this,candidates are expected to know the specific accounting rules for an intangible asset with an indefinite life and when intangibles can or cannot be revalued.
EXAMPLES:
From the earlier examples of Entertain Co and Res Co,both of these would be held under the cost model.The useful life of the Gadgetworks brand would need to be established.If there is a finite life,it would be amortised over this.If not,it would have to have an annual impairment review.The development costs of the pharmaceuticals would be amortised over the useful life of five years.
Neither asset would qualify for being held under the revaluation model.Both are specific to the companies so would not have identical items regularly traded in order to assess a true market price.
Conclusion
The principles of intangible assets are key to both the FR and Strategic Business Reporting(SBR)exams.You should be aware of the general principles of how to account for them in addition to the necessary calculations.While IAS 38 is a key standard,there is an argument to be made that IAS 38 was not written with modern technological companies in mind.The standard was written in 1998,the same year as the first MP3 player which cost$200 and could hold a total of 1 hour’s music.
It is fair to say that the rules of the standard may fail to capture some of the key value in modern entities.This means that many modern technology firms have brands that are unrecognised on the statement of financial position,causing large discrepancies between a company’s market value and the value of the assets recorded in its financial statements.The International Accounting Standards Board(IASB)have acknowledged this problem,and it may well be that it is added to its standard-setting agenda in future periods.
Written by a member of the FR examining team
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