IAS 38

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IAS 38

A company have a computer software (internally generated) which results in buying the programmes to users The main customer of this programmes has bankrupt so the software will not be sold ,Is Impairment should be ? and also  a few programmes may be sold So what's the right Treatment For this according to IFRS?

By |February 14th, 2010|IAS 38|4 Comments

Software Capitalization / Expensed out

Dear IFRS Experts, Could you please give your opinion on the following: 1. Computer softare is to be considered as Intangible Assets or PPE 2. Which type of computer software can be capitalized / expensed out Whether following type can be capitalized or expensed out Photoshop Illustrator Adobe Writer AutoCAD AutoCAD 3D Max AutoCAd lite [...]

By |November 11th, 2009|IAS 38|3 Comments

Intangible Assets – IAS 38

Dear Group member Please advice, the rent which is paid for the advertiment, like display of bill boards etc., can we take it into intangible assets. Is advertisment cost of our product an intangible assets Best Regards Suraj

By |April 21st, 2009|IAS 38|5 Comments

Capitalization expenses IFRS

Leo wants to capitalize all costs of NSL on NSL’s books until it has completed its first year of operations.  In addition to the franchise fee, $20 million will have to be spent on the following:  Acquisition of player contracts                                                               $ 12,000,000 Advertising and promotion                                                                         1,500,000 Equipment                                                                                                 3,200,000 Wages, benefits, and bonuses                                                                 6,800,000 Other [...]

By |April 9th, 2009|IAS 38|1 Comment

Unallocated revenue expenses

Dear expert After my joining i obseved that substetial amount remin unadjusted as unallocated revenue expenditure. how could i adjust the unallocated expenses with my accounts . if there is any relation with IAS 38 intangible assets. please give the suggetion with example and related IFRS Thanks

By |February 23rd, 2009|IAS 38|3 Comments

Preliminery expenses

Dear All, The Company was incorporated in Oct 2007.Could you please give your expert opinion on the treatment of preliminary expenses (Revenue generation is not yet started) e.g. rent, salary, traveling etc. incurred during Oct 2007- Aug 2008. Please reply in reference to IFRS. Revenue is expected in Sept 2008. In my view, preliminary expenses [...]

By |December 15th, 2008|IFRS|0 Comments

Microsoft licence ….

Dear All , can anyone help me with an urgent answer on the below question : - If we purchase software licences for office programs like ( Microsoft , power point etc ). and we renew the same every year do we need to capitalize this cost or expense it ( Please note that i'm [...]

By |December 15th, 2008|IAS 38|0 Comments

Just one question

Please let me know about cost of create new web sit will it be general expenses or intangible assets  So, which treatment prefered to be confirmed to international accounting standard   thank you   Mahmoud Gbr Auditor General expense: if there is no link to future cash inflow through this   Intangible asset: if satisfy the conditions [...]

By |December 14th, 2008|IAS 38|0 Comments

IAS 16/40 on date of transition

On the date of transition, a company could choose, as it´s deemed cost, historical cost if the previous gaap is not significantly different than IFRS or fair value for PPE, Intangibles and Investment property. I am not sure if I have it clear but under IAS 16, one can choose the deemed cost on a per-item [...]

By |August 28th, 2008|IFRS|0 Comments

Software capitalization

Hello, Does anyone know where the best place to find information on capitalizing internal software development under IFRS?  Any links?  Which IAS/IFRS standard is this covered under? Thanks in advance for the help! You raise an interest topic David,  I would like to see the view of others In the meantime page 56 of the [...]

By |August 28th, 2008|IFRS|0 Comments