New rules for accounting for intangible assets

The article discusses new rules and features of organizing the accounting of intangible assets in accordance with the new federal standard. From January 1, 2024, all companies must switch to the use of the new FAS 14/2022 “Intangible assets”. The regulatory document was approved by Order of the Ministry of Finance of Russia dated May 30, 2022 No. 86n “On approval of the Federal Accounting Standard FSBU 14/2022 “Intangible Assets” and registered with the Ministry of Justice of Russia on June 28, 2022 No. 69031. FSBU 14/2022 will replace the previously existing regulatory document PBU 14 /2007, which, in the context of the rapid development of information technology, can no longer regulate approaches to accounting for new types of intangible assets. The new regulatory document was developed taking into account new types of intangible assets and is as close as possible to IFRS in terms of accounting for intangible assets. The new standard defines more precise characteristics of objects called intangible assets and provides their classification. It should be noted that permits (licenses) for the right to conduct activities will be taken into account as part of intangible assets. According to the new FSBU, the concept of “business reputation” has been abolished. Instead, “goodwill” is an asset, the characteristics of which are given in IFRS 3 “Business Combinations” (clause 10 of FSBU 14/2022). Note that non-exclusive rights to software can also be recognized as an object of intangible assets, the main thing is that there are documents confirming the innovation and uniqueness of the object.