SLAS 37: Intangible assets

We frequently come across resources which have no physical substance but seemingly create value to entities. 

Companies often use significant funds to acquire, develop, maintain or enhance resources such as technical know-how, the design of new processes or systems, licences, intellectual property, market knowledge and trademarks which create value in terms of customer loyalty, market share, marketing rights, etc.  

But do all of the above, that we consider intangible and create value, constitute an intangible asset? Well, in a layman’s term ‘Yes’, but all of the items above are not recog\anised as intangible assets according to accounting standards. 

Read this CIMA study to find out more.

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