SIC 32 – Intangible Assets – Web Site Costs

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Date issued: 25 May 2002

No amendments made to this IFRIC till date due since issuance.

Why this interpretation was issued?

The entity incurs internal expenditure on developing it’s website through internal or external sources. The SIC addresses the appropriate treatment of such expenses which can or cannot be recognized as intangible assets.

Conclusion:

SIC concludes that website developed using internal or external access meets the criteria under IAS 38 and provides appropriate treatment for such expenditures.

Effective date:

Periods beginning on or after 25 March 2002.

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