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Winter Event
2021-08-12
PRESENTATION

Internally generated GDPR module: to capitalize or not to capitalize?

Did you know that IAS 38 Intangible Assets is almost half a century old? In fact, the first exposure draft dates all the way back to 1977. So, if you think that the first portable computer was only produced in 1981, you can get an idea of just how old it is and how different technology was at that time.

In the Digital Era where intangible assets are a company’s lifeblood, the standard can end up being less suited to deal with modern technologies and its application can sometimes present a challenge for companies.

Future economic benefits – what’s the deal?

Imagine an entity internally develops an additional module within its ERP to comply with GDPR requirements. Does the module meet the general recognition criteria of IAS 38.21 (i.e. the ability to generate future economic benefits to the entity)? And, if

Internally generated GDPR module: to capitalize or not to capitalize?

Did you know that IAS 38 Intangible Assets is almost half a century old? In fact, the first exposure draft dates all the way back to 1977. So, if you think that the first portable computer was only produced in 1981, you can get an idea of just how old it is and how different technology was at that time.

In the Digital Era where intangible assets are a company’s lifeblood, the standard can end up being less suited to deal with modern technologies and its application can sometimes present a challenge for companies.

Future economic benefits – what’s the deal?

Imagine an entity internally develops an additional module within its ERP to comply with GDPR requirements. Does the module meet the general recognition criteria of IAS 38.21 (i.e. the ability to generate future economic benefits to the entity)?

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