The IASB’s former standing interpretations committee—now
the international financial reporting interpretations committee—issues
guidance ( www.iasb.org.uk/cmt/0001.asp ) on accounting for Web site
costs under international accounting standards (IASs). The
interpretation clarifies existing requirements of IAS 38,
Intangible Assets, that apply to expenses associated with
an entity’s development and operation of an Internet site. If the
enterprise applies the new interpretation and recognizes the site as
an intangible asset, it must amortize the operating expenses over a
brief period unless that site actively serves a market and its
operating costs are regularly evaluated.
International
