AASB 134 - Interim Financial Reporting - July 2004
Intangible AssetsIntangible Assets
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Intangible Assets
B8 An entity will apply the definition and recognition criteria for an intangible asset in the same way in an interim period as in an annual period. Costs incurred before the recognition criteria for an intangible asset are met are recognised as an expense. Costs incurred after the specific point in time at which the criteria are met are recognised as part of the cost of an intangible asset. ‘Deferring’ costs as assets in an interim statement of financial position in the hope that the recognition criteria will be met later in the annual reporting period is not justified.