FRS 102: Intangible assets under UK GAAP
FRS 102 Section 18 sets out the requirements that apply to intangible assets, except for goodwill.
The standard
The requirements regarding intangible assets are set out as part of FRS 102. However, individual sections of the standard should not be looked at in isolation as other parts may be relevant.
FRS 102 is regularly updated and amended by the Financial Reporting Council (FRC). For the full text of FRS 102, guidance on which version of the standard to apply and notes on recent amendments, see our main FRS 102 page.
ICAEW guides and support
Helpsheets and factsheets
Premium Content: This is exclusive item - please log in or subscribe to view this item.
18-09-2018
The purpose of this technical helpsheet is to consider both the potential accounting treatments under FRS 102 and the presentation of cryptocurrencies within the financial statements. It should be noted that this is an emerging area and practice will no doubt evolve over time.
Premium Content: This is exclusive item - please log in or subscribe to view this item.
10-07-2018
Technical helpsheet to help members understand the requirements for capitalising website development costs under FRS 102.
Premium Content: This is exclusive item - please log in or subscribe to view this item.
10-07-2018
Technical helpsheet to help members understand when it may be possible to revalue intangible assets and the criteria for doing so under FRS 102.
Premium Content: This is exclusive item - please log in or subscribe to view this item.
01-03-2017
Technical helpsheet to help ICAEW members understand key aspects of accounting for intangible assets and goodwill under FRS 102.
Bloomsbury Accounting and Tax Service
Eligible firms have free access to Bloomsbury Professional's comprehensive online library, comprising around 80 titles from some of the country's leading tax and accounting subject matter experts. Find out who is eligible and how you can access the Bloomsbury Accounting and Tax Service.
Impairment of Assets
A chapter on financial reporting of impairment of assets under UK GAAP. Sections include: Impairment of inventory; Impairment of assets other than inventories; Reversal of an impairment loss; Disclosure requirements. This practical manual focuses on unlisted companies and has been comprehensively updated to reflect all changes made to UK and Ireland accounting standards up to November 2022.
Business combinations and goodwill
A chapter on financial reporting of business combinations and goodwill under FRS 102, section 19, including information on accounting for positive and negative goodwill. This key title by Steve Collings has been comprehensively updated to reflect all changes made to UK and Ireland accounting standards up to November 2022.
Property, plant and equipment
A detailed, practical chapter on financial reporting of property, plant and equipment under FRS 102, section 17 and FRS 105, section 12. Includes sections on initial recognition, subsequent measurement, depreciation, impairment of assets, derecognition and disclosure requirements, with many worked examples.
Intangible assets other than goodwill
A detailed, practical chapter on financial reporting of intangible assets other than goodwill under FRS 102 section 18, containing many examples. Includes sections on initial recognition, initial measurement, research and development costs, subsequent measurement, amortisation, software/website development costs and disclosure requirements.
Impairment of Assets
A chapter on impairment of assets within the small companies' financial reporting framework and the micro-entities legislation, written by a specialist on small company reporting issues. FRS 102 Section 27 and the impairment of inventories, impairment of assets other than inventory and impairment of goodwill are discussed, along with helpful real-life examples.
Terms of use: You are permitted to access, download, copy, or print out content from eBooks for your own research or study only, subject to the Acceptable usage terms.
eBooks
The Library provides full text access to a selection of key business and reference eBooks from leading publishers. eBooks are available to logged-in ICAEW members, ACA students and other entitled users. If you are unable to access an eBook, please see our Help and support advice or contact library@icaew.com.
Business combinations and goodwill
Fully updated guide focusing on each area of the financial statement in detail with illustrative examples. This chapter gives a comparison of FRS 102 Section 19 and IFRS, and covers the requirements for business combinations and goodwill, disclosures, and group reconstructions.
Intangible assets other than goodwill
Fully updated guide focusing on each area of the financial statement in detail with illustrative examples. This chapter gives a comparison of FRS 102 Section 18 and IFRS, and covers recognition and initial measurement, measurement after initial recognition, presentation and disclosure, and a selection of practical implementation issues (such as website costs).
Impairment of assets
Fully updated guide focusing on each area of the financial statement in detail with illustrative examples. This chapter gives a comparison of FRS 102 Section 27 and IFRS, and covers the requirements for impairment, impairment of assets other than inventories, goodwill and its allocation to CGUs, recognising and measuring impairment losses, reversal of an impairment loss, and disclosures.
Housing SORP 2018
Full text of the Housing SORP 2018 issued by the National Housing Federation, Community Housing Cymru, the Scottish Federation of Housing Associations and the Northern Ireland Federation of Housing Associations. This version was published in September 2018 and is an update of the 2014 edition.
Housing SORP 2014
Full text of the Housing SORP 2014 which is issued by the National Housing Federation, Community Housing Cymru, the Scottish Federation of Housing Associations and the Northern Ireland Federation of Housing Associations. This version was published in September 2014.
ICAEW accepts no responsibility for the content on any site to which a hypertext link from this site exists. The links are provided ‘as is’ with no warranty, express or implied, for the information provided within them. Please see the full copyright and disclaimer notice.
Example accounts
Model accounts and disclosure checklists for UK GAAP
The ICAEW Library can provide model accounts and disclosure checklists for FRS 101, FRS 102, FRS 102 Section 1A, FRS 103 and FRS 105. The examples and checklists cover a broad range of entities, including small companies, charities, groups, LLPs and micro-companies.
Further reading
Manuals and handbooks
The ICAEW Library stocks the latest UK GAAP handbooks and manuals. You can browse all our books on FRS 102 and intangible assets or request any of the following popular titles by contacting us on +44 (0)20 7920 8620, by web chat, or at library@icaew.com
GAAP 2019: UK reporting – FRS 102 (Volume B)
Deloitte, Croner-i, 2019
Comprehensive manual explaining how to apply FRS 102, with worked examples and extensive interpretation and guidance. The chapter on intangible assets other than goodwill covers recognition, past expenses not to be recognised as an asset, measurement, amortisation over useful life, impairment losses, retirements and disposals, and disclosures.
Manual of accounting: UK GAAP
PwC, Lexis Nexis, 2019
Practical guide with worked examples throughout, dealing with day-to-day issues as well as complex questions. The chapter on intangible assets other than goodwill looks at the characteristics of intangible assets, specific recognition and measurement requirements, past expenses, amortisation, impairment, derecognition, presentation and disclosure.
Find out more about how you can borrow books from the ICAEW Library or get articles and documents sent to you by email or post.
Ask ICAEW Technical Advisory Service
Get an opinion from the experts. Our experienced technical advisors can help you with your UK GAAP questions and offer practical advice. Call the advisory helpline on +44 (0)1908 248 250.
Find out more about the Technical and ethics advisory helpline, including our opening hours.
Can't find what you are looking for?
If you're having trouble finding the information you need, ask the Library & Information Service. Contact us by telephone on +44 (0)20 7920 8620, by web chat or by email at library@icaew.com
ICAEW accepts no responsibility for the content on any site to which a hypertext link from this site exists. The links are provided ‘as is’ with no warranty, express or implied, for the information provided within them. Please see the full copyright and disclaimer notice.