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INTANGIBLE ASSETS

Acquisition as part of a business combination

• The cost of an intangible asset acquired in a business

combination in accordance with IFRS 3, is its fair value at the
date of acquisition. (IAS 38.33)

• The acquirer in a business combination recognises as an asset

separately from goodwill, an inprocess research and
development project of the acquiree if the project meets the

definition of an intangible asset and its fair value can be
measured reliably. (IAS 38.34)

• An acquiree's in-process research and development project

meets the definition of an intangible asset when it:

• meets the definition of an asset; and

• is identifiable, that is, is separable or arises from contractual or other
legal rights. (IAS 38.34)

• If an intangible asset acquired in a business combination is
separable or arises from contractual or other legal rights,

sufficient information exists to measure reliably the fair value

of the asset (IAS38.35)

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