Separately acquired intangible asset

A separately acquired intangible asset is initially recognised at cost if the relevant recognition criteria are met. Cost includes the purchase price and directly attributable costs of preparing the asset for its intended use, rather than automatically using acquisition-date fair value as if every purchase were a business combination. After recognition, a finite useful life leads to amortisation over that life; an indefinite-life intangible is not amortised and is tested for impairment under the applicable rules. Intangibles acquired in a business combination have different initial measurement requirements.