1. IAS 38 Intangible assets PwC

2. PricewaterhouseCoopers Objective and Scope Initial recognition Measurement of carrying amount Specific disclosures

3. PricewaterhouseCoopers Recognition and measurement Definition of intangible Recognition criteria – probable future economic benefits – cost reliably measured Intangibles acquired in a business combination

4. PricewaterhouseCoopers Internally generated intangibles Don’t recognise goodwill Other intangibles – research – no – development – yes - if meets criteria

5. PricewaterhouseCoopers Measurement after recognition Cost v revaluation Fair values Active markets – homogenous items – willing market participants – prices available to public Frequency of revaluations

6. PricewaterhouseCoopers Useful life Finite v indefinite Systematic basis for allocation over finite life At least annual impairment test for indefinite life Review basis annually

7. PricewaterhouseCoopers UK GAAP differences FRS 10 requirement for ‘readily ascertainable market value’ FRS 10 rebuttable presumption re < 20 year life SSAP 13 choice re development costs