AASBB Mission: To promote high quality financial reporting and auditing standards that are consistent with international best practices through the development and implementation of Bhutanese Accounting Standards (BAS) and Bhutanese Standards on Auditing (BSA).

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Reader Comments on ::   Intangible Assets
You are correct that BAS 38 covers software. However the standards says cost is amortised over its useful life, the same treatment as BAS 16 requires for PPE.
There are different rules for other categories of intangible assets
Posted By: Roy Whittington      Posted on: 2018-05-15 11:57:13
I dont think BAS 38 only talks about goodwill , brand name etc. I think BAS 38 refers to all the intangible assets including software etc, because BAS 16 PPE clearly states as tangible assets.
Posted By: Sonam Choeden      Posted on: 2018-05-15 11:57:13
You need to be clear which intangible assets you are talking about.
Purchases of software are called intangible assets. These need to be depreciated over their useful life in the same way as PPE
BAS 38 Intangible Assets (in the second phase) is concerned with brand names, goodwill and the like. If you have these types of assets then look at BAS 38
Posted By: Roy Whittington      Posted on: 2018-05-15 11:57:13
For intangible assets are we required to maintain and disclose depreciation estimates for intangible assets separately from tangible assets or can we apply same estimates as is applicable to tangible assets.

Posted By: Sonam Choeden      Posted on: 2018-05-15 11:57:13

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