ANNEXU.K.INTERNATIONAL ACCOUNTING STANDARDS
INTERNATIONAL ACCOUNTING STANDARD 38Intangible assets
RECOGNITION AND MEASUREMENTU.K.
Internally generated intangible assetsU.K.
Development phaseU.K.
58In the development phase of an internal project, an entity can, in some instances, identify an intangible asset and demonstrate that the asset will generate probable future economic benefits. This is because the development phase of a project is further advanced than the research phase.U.K.