New DTT publication on applying IFRS in the publishing industry
18 Mar 2003
A new booklet from Deloitte & Touche (UK) – Publishing Industry: The Future of Intangibles under IAS – assesses the impact that changes in IFRS may have on the newspaper and magazine publishing industry over the next few years.
While intangibles occur in virtually all industries, the publishing industry is particularly affected because publishing rights and titles form an important element of most publishing companies' financial statements. In some instances they are a highly significant portion of the net asset position (often more than 100 percent). You may (PDF 280k) without charge. In recent exposure drafts, the IASB has proposed to draw an accounting distinction between intangibles with finite useful lives and those with indefinite lives, with amortisation plus impairment testing for the former and non-amortisation plus impairment testing for the latter. Revaluation would be permitted for all, but only if fair value can be determined by reference to prices in an active market. Click for a Summary of the IASB Exposure Drafts.