NZ IAS 38
Zealand Equal to Worldwide Accounting Commonplace 38
Intangible Belongings (NZ IAS
November 2004 and incorporates amendments as a lot as December 2009
This Commonplace was issued by the Financial
Reporting Necessities Board of the New Zealand Institute of Chartered Accountants*
and accredited by the Accounting Necessities Evaluation Board in November 2004 beneath
the Financial Reporting Act 1993. This Commonplace is a regulation for the goal
of the Legal guidelines (Disallowance) Act 1989.
Commonplace, on adoption, supersedes partially:
Assertion of Commonplace Accounting
Apply No. Three: Accounting for Depreciation (SSAP-Three); and
Financial Reporting Commonplace No.
13: Accounting for Evaluation and Progress Actions(FRS-13).
following New Zealand Interpretations verify with NZ IAS 38:
NZ SIC-29 Service Concession Preparations:
NZ SIC-32 Intangible AssetsâWeb Web site Costs
NZ IFRIC 4 Determining whether or not or not an Affiliation
contains a Lease
NZ IFRIC 12 Service Concession Preparations
* The New
Zealand Institute of Chartered Accountants is the working determine of the
Institute of Chartered Accountants of New Zealand, a physique established beneath the
Institute of Chartered Accountants of New Zealand Act 1996. All references to
the New Zealand Institute of Chartered Accountants, or to the Institute, in
this doc suggest the Institute of Chartered Accountants of New Zealand.
1 Â© Copyright
Crown copyright 2006
ASRB customary contains Worldwide Accounting Necessities Committee Foundation
copyright supplies. Duplicate inside New Zealand in unaltered type
(retaining this uncover) is permitted for personal and non-commercial use
subject to the inclusion of an acknowledgement of the provision. Requests and
inquiries concerning duplicate and rights for enterprise capabilities inside New
Zealand must be addressed to the Chairman, Accounting Necessities Evaluation Board,
PO Area 12197, Wellington 6144.
rights on this supplies outdoor of New Zealand are reserved by IASCF.
Duplicate of ASRB necessities outdoor of New Zealand in unaltered type
(retaining this uncover) is permitted for personal and non-commercial use solely.
Extra knowledge and requests for authorisation to breed for enterprise
capabilities outdoor New Zealand must be addressed to the IASCF.
NZ IAS 38
NEW ZEALAND EQUIVALENT
TO INTERNATIONAL ACCOUNTING STANDARD 38
INTANGIBLE ASSETS(NZ IAS 38)
TO NZ IAS 38
as part of a enterprise combination
truthful price of an intangible asset acquired in a
expenditure on an acquired in-process evaluation
by the use of a authorities grant
generated intangible property
Value of an
internally generated intangible asset
OF AN EXPENSE
payments to not be recognised as an asset
Three Â© Copyright
ASSETS WITH FINITE USEFUL LIVES
interval and amortisation methodology
of amortisation interval and amortisation methodology
ASSETS WITH INDEFINITE USEFUL LIVES
of useful life analysis
OF THE CARRYING AMOUNTâIMPAIRMENT
property measured after recognition using the
and enchancment expenditure
PROVISIONS AND EFFECTIVE DATE
OF IAS 38 (ISSUED 1998)
OF IAS 38 BY THE IASB
BASIS FOR CONCLUSIONS
the useful lives of intangible property
NZ IAS 38
Zealand Equal to Worldwide Accounting Commonplace 38 Intangible Belongings
(NZ IAS 38) is prepared out in paragraphs 1â133. NZ IAS 38 depends on Worldwide
Accounting Commonplace 38 Intangible Belongings (IAS 38) (2004) initially
issued by the Worldwide Accounting Necessities Committee (IASC) and
subsequently revised by the Worldwide Accounting Necessities Board (IASB).
The entire paragraphs have equal authority nonetheless retain the IASC format of the
Commonplace when it was adopted by the IASB. NZ IAS 38 must be be taught throughout the
context of its aim and the IASBâs Basis for Conclusions on IAS 38, the
New Zealand Preface and the New Zealand Equal to the IASB Framework
for the Preparation and Presentation of Financial Statements (NZ Framework).
NZ IAS eight Accounting Insurance coverage insurance policies, Changes in Accounting Estimates and
Errorsprovides a basis for selecting and making use of accounting insurance coverage insurance policies in
theabsence of specific steering.
additional supplies is confirmed with grey shading. The paragraphs are denoted with
âNZâ and decide the types of entities to which th e paragraphs apply.
Commonplace makes use of the terminology adopted in Worldwide Financial Reporting
Necessities (IFRSs) to clarify the financial statements and totally different elements. NZ
IAS 1 Presentation of Financial Statements(as revised in 2007)
paragraph 5 explains thatentities other than profit-oriented entities
seeking to make use of the Commonplace may should amend the descriptions used for
particular line devices throughout the financial statements and for the financial
statements themselves. As an illustration, income/loss is also generally known as
surplus/deficit and capital or share capital is also generally known as equity.