The mandatory adoption of IFRS for the group accounts of listed companies in the EU 2005 provides a unique dataset for analysis of reporting practices. This paper capitalizes on this data to explore the reporting for intangible assets in accordance with IAS 38. Our sample consists of the 2005 group accounts for 164 firms from the DOW JONES STOXX 200 index and thus represents the largest listed European companies. We analyze the quantitative significance of intangible assets, the amounts and distribution of R&D intensity and development cost capitalization, with an eye on industryspecific differences. The evidence, in line with expectations, shows considerable variation. For example, automotive companies account for 75 % of all capitalized development cost, pharmaceutical companies for less than 1 %. The results of this paper provide an input to the discussion on the application and quality of the IAS 38 requirements. In addition, the observation of numerous violations of IAS 38's disclosure rules, e.g. with respect to total R&D expenses or the amounts of capitalized development expenses, points at application and enforcement issues for IFRS in European countries.