|
|
EFRAG published a discussion paper prepared by the Australian Accounting Standards Board that it regards as an important contribution to the global debate about accounting for intangibles.
Intangible assets are found in a large number of entities across a range of industries and jurisdictions. Despite their significance, many intangible assets are recognised under existing accounting standards only when they are acquired from others. In other words, their accounting treatment differs depending on how the reporting entity has acquired the asset.
The AASB has prepared a discussion paper that analyses the issues involved and challenges some of the requirements for internally generated intangible assets in existing standards. The objective is to encourage international debate about, and therefore contribute to improvements in the IASB’s standards on, intangible assets.
Deadline for comments is
(Document attached below)