UK GAAP - Intangible Assets

The fundamental objective of Section 18 is to prescribe the accounting treatment for intangible assets other than goodwill. Goodwill is dealt with in Section 19 – Business Combinations and Goodwill.

Section 18 also specifies how to measure the carrying amount of intangible assets and requires specified disclosures about intangible assets.

After completing this module, you will be able to:

• define which assets are under the scope of Section 18.
• distinguish between different types of intangible assets.
• explain the recognition requirements of Section 18.
• apply the recognition requirements to different types of intangible assets.
• determine the subsequent measurement of previously recognised intangible assets.
• recognise the interrelated nature of Section 18 with other sections in FRS 102, particularly Section 27 – Impairment of Assets.
• determine the appropriate required disclosures.

This module is part of the UK GAAP Library or can be booked as an individual course. To book the full library click here.