SIC 32 Intangible Assets – Website Costs
Published March 2002. Effective 25 March 2002.
Free to view
Financial Reporting Faculty members only
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
The International Accounting Standards Board (IASB) provides free access to the consolidated unaccompanied international accounting standards for the current year through its website. Free registration is required.
Which version of the interpretation?
Financial Reporting Faculty members who joined the faculty prior to 1 November 2022 have premium access to the consolidated edition of IFRS and amendments through the IASB's IFRS Standards Navigator service. Please log into IFRS Standards Navigator to access electronic versions of the standards through these links.
Please be aware that as part of the changes to ICAEW faculty membership, this service will be withdrawn after 31 December 2022.
Full access to details of all the amendments is only available to Financial Reporting Faculty members. Find out how to join the faculty.
IFRSs referred to by SIC 32
This page was last updated 4 February 2022
Looking for real life examples?
Financial Reporting Faculty members get free access to Company Reporting’s CR service. Company Reporting are a leading research and benchmarking service on IFRS reporting practices.
Faculty membership gives you access to a range of other resources, including the hidden premium content on this page.