| 18.1 | This section applies to intangible assets except for goodwill (see Section 19 Business Combinations and Goodwill) and intangible assets held by an entity for sale in the ordinary course of business (see Section 13 Inventories and Section 23 Revenue). [AMD 408] |
| 18.1A | [Moved to paragraph 18.3(d)] [AMD 409] |
| 18.2 | [Deleted] [AMD 410] |
| 18.3 | This section does not apply to: |
| (a) | financial assets (see Section 11 Basic Financial Instruments and Section 12 Other Financial Instruments Issues); |
| (b) | heritage assets (see Section 34 Specialised Activities); |
| (c) | exploration for and evaluation of mineral resources, such as oil, natural gas and similar non-regenerative resources (see Section 34) and expenditure on the development and extraction of such resources; or |
| (d) | deferred acquisition costs and intangible assets arising from contracts in the scope of FRS 103, except for the disclosure requirements in this section which apply to intangible assets arising from contracts within the scope of FRS 103. [AMD 411] |
| AMD 408 Amendment Paragraph 18.1 amended by Amendments to FRS 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland – Triennial review 2017 – Incremental improvements and clarifications (issued December 2017) Effective date 01/01/2019 Previous text 18.1 This section applies to accounting for all intangible assets other than goodwill (see Section 19 Business Combinations and Goodwill) and intangible assets held by an entity for sale in the ordinary course of business (see Section 13 Inventories and Section 23 Revenue). |
| AMD 409 Amendment Paragraph 18.1A amended by Amendments to FRS 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland – Triennial review 2017 – Incremental improvements and clarifications (issued December 2017) Effective date 01/01/2019 Previous text 18.1A This section does not apply to the accounting for deferred acquisition costs and intangible assets arising from contracts in the scope of FRS 103 Insurance Contracts, except for the disclosure requirements in this section which apply to intangible assets arising from contracts in the scope of FRS 103. |
| AMD 410 Amendment Paragraph 18.2 deleted by Amendments to FRS 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland – Triennial review 2017 – Incremental improvements and clarifications (issued December 2017) Effective date 01/01/2019 Previous text 18.2 An intangible asset is an identifiable non-monetary asset without physical substance. Such an asset is identifiable when: (a) it is separable, ie capable of being separated or divided from the entity and sold, transferred, licensed, rented or exchanged, either individually or together with a related contract, asset or liability; or (b) it arises from contractual or other legal rights, regardless of whether those rights are transferable or separable from the entity or from other rights and obligations. |
| AMD 411 Amendment Paragraph 18.3 amended by Amendments to FRS 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland – Triennial review 2017 – Incremental improvements and clarifications (issued December 2017) Effective date 01/01/2019 Previous text 18.3 This section does not apply to the following: (a) financial assets (see Section 11 Basic Financial Instruments and Section 12 Other Financial Instruments Issues); (b) heritage assets (see Section 34 Specialised Activities); or (c) mineral rights and mineral reserves, such as oil, natural gas and similar non-regenerative resources (see Section 34). |
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