138年AASB无形资产已规定同样规定IAS 38。这个标准已被AASB介绍,1月1日2005年。这意味着,在2005年或之后的治疗无形资产完成符合ASSB 138。本标准的主要目的是处理有关无形资产的会计处理。通过本标准的帮助下,无形资产的账面价值,可以发现。在138年引入AASB强制披露无形资产在财务报表(Comlaw澳大利亚,2014)。
In general term the “intangible assets” are those assets which are non-physical assets and their useful life is more than one year.
In AASB 138 the intangible assets has been prescribed which is similarly prescribed in IAS 38. This standard had been introduced by AASB on 1 January, 2005. It means, on or after 2005 the treatment of intangible assets are done in compliance with ASSB 138. The main objective of this standard is to deal with the accounting treatment regarding the intangible assets. Through the help of this standard the carrying amount of intangible assets can be found out. After introduction of AASB 138 it is compulsory to disclose the intangible assets in the financial statement (Comlaw Australia, 2014).
A recognizable non- cash asset without physical existence which is used in the manufacturing or supply of goods or provision of services, payment to other and for administrative purpose is called intangible assets. Therefore, the main features of intangible assets as per the standard are
- Recognizable ( identifiable)
- Non- cash asset
- Without physical existence
Identifiable- Generally an asset is said to be identifiable if it is separable from other assets and if the enterprise incurs the amount on particular asset for generating the specific future benefits and uses in income earning activity. The enterprise may be able to identify an asset through another technique. It means for identifying the intangible asset separability is not a necessary requirement. If an intangible asset is acquired with a group of assets which come with some legal rights which make the recognition of the intangible asset a necessity, the organization has to recognize the same as an intangible asset(Sharma, 2014).