Definition, composition and recognition of intangible assets according to FAS 14/2022

Abstract

The new Federal Accounting Standard (FAS) 14/2022 “Intangible Assets” makes significant changes to the Russian accounting of these assets of organizations in the non-state sector (including healthcare organizations in this sector). In one of the previous articles, we explored the main innovations of the above standard. In this article, we will analyze in more detail the issues related to the definition, composition and recognition of intangible assets, in accordance with FAS 14/2022. The following methods were used in the research: analysis and synthesis, comparison, grouping method, analogy method, logical approach, systematic approach. As a result of the research, the FAS 14/2022 regulations regarding the definition, composition and recognition of intangible assets (including issues related to the value limit for such recognition) of organizations in the non-state sector (in particular, healthcare organizations in this sector) were analyzed in detail, the main problematic aspects in this area are identified and proposals for their solution are substantiated. In addition, this article provides numerous examples to clarify the requirements of the above standard. The results reflected in this paper will be useful to a wide range of readers interested in the problems of Russian accounting, including accounting for intangible assets. In addition, the results obtained can be applied in the educational process of higher educational institutions, in the practical work of the accounting departments of organizations in the non-state sector (including healthcare organizations in this sector), as well as in the development and improvement of relevant regulatory documents on accounting.