SIC 32 Intangible Assets – Website Costs
Published March 2002. Effective 25 March 2002.
Contents
Free to view
- Synopsis (including link to unaccompanied version of SIC 32)
- IFRSs referred to
Financial Reporting Faculty members only
Synopsis
SIC 32 concludes that an entity’s own web site that arises from development and is for internal or external access is an internally generated intangible asset that is subject to the requirements of IAS 38.
The interpretation identifies four stages of the development of a website and clarifies the accounting treatment of costs at each stage:
- Planning costs should be expensed as incurred;
- Subject to certain conditions, costs associated with the application and infrastructure development stage should be capitalised as an intangible asset
- Content development costs should be expensed as incurred
- Operating costs should be expensed as incurred
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Recent amendments
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IFRSs referred to by SIC 32
- IFRS 3 Business Combinations
- IFRS 15 Revenue from Contracts with Customers
- IFRS 16 Leases
- IAS 1 Presentation of Financial Statements
- IAS 2 Inventories
- IAS 16 Property, Plant and Equipment
- IAS 36 Impairment of Assets
- IAS 38 Intangible Assets
This page was last updated 4 February 2022
SIC 32 Intangible Assets – Website Costs
Contents
Free to view
- Synopsis (including link to unaccompanied version of SIC 32)
- IFRSs referred to