FRS 102 Section 18 (Intangible Assets other than Goodwill)

Definition

The section of the UK and Republic of Ireland financial reporting standard that governs the recognition, measurement, and disclosure of intangible assets other than goodwill for entities not applying IFRS. Section 18 requires intangible assets to be measured at cost less accumulated amortisation and impairment losses, with all intangible assets presumed to have a finite useful life. Unlike IAS 38, FRS 102 does not permit the revaluation model for intangibles and requires amortisation over a maximum of 10 years if the useful life cannot be reliably estimated.