The adoption of IFRS changed financial reporting requirements for Australian businesses. New standards were proclaimed to cover previously loosely regulated areas of financial reporting. AASB138/IAS38 Intangible Assets was proclaimed with the adoption of IFRS. Prior to 2005 Intangible Assets were not covered by an overarching standard, but aspects were covered by a number of related accounting standards. AASB 138 caused much consternation for Australian businesses in meeting new criteria. This paper examines the standard for Intangible Assets and explores consequences for research and development (R&D) expenditure.
Qualitative features of financial information are imperative in making decisions for the firms and corporate. Financial information reveals a firm’s ava...
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Schipper, K 1989, ‘Commentary on Earnings Management’, Accounting Horizons, Vol September, pp. 91-103, retrieved 2nd January 2014, EBSCOHost database.
Treasury Department 2002, ‘CLERP No 9 ‘Proposal for Reform – Corporate Disclosure Part 6 Accounting Standards’, http://archive.treasury.gov.au/documents/403/html/docshell.asp
Watts, R & Zimmerman, J 1978, ‘Towards a Positive Theory of the Determination of Accounting Standards’, The Accounting Review, Vol LIII, No 1, pp 112-134.
Zare, I, Nekounam, J and Gerami, A 2012 , ‘Review Reliability for Value of Intangible Assets in Financial Statements’, Vol. 2, no. 3, pp. 7115 - 7119 , Journal of Basic and Applied Scientific Research < http://www.textroad.com/pdf/JBASR/J.%20Basic.%20Appl.%20Sci.%20Res.,%202%287%297115-7120,%202012.pdf>
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