Definition

In this lesson

1. 0:00 Intangible non-current assets overview
2. 0:24 What is an intangible asset
3. 0:41 Identifiable and separable assets
4. 0:52 Common examples of intangibles
5. 1:10 Tangible versus intangible comparison
6. 1:37 Amortisation and depreciation explained
7. 2:00 Cost and revaluation models

About this lesson

This foundational knowledge is essential for Financial Reporting and Strategic Business Reporting papers, where you need to correctly identify and classify assets on financial statements. The video walks you through the core distinction between tangible and intangible assets, showing how the accounting treatment parallels across both categories. While tangible assets are governed by IAS 16, intangibles follow IAS 38—but the principles are the same: costs are capitalised if they meet specific criteria, and the wearing out is recognised through charges (depreciation for tangibles, amortisation for intangibles). You'll also see that both asset types can be measured using a cost model or revaluation model after initial recognition, though revaluation of intangibles is rare in practice. Understanding this framework gives you the confidence to handle intangible asset questions accurately in your exams.

Duration: 2m