Accounting Standards for Intangibles Reporting

CORPORATE FINANCIAL REPORTING - CHANGING SCENARIO, D. Alagiri, K. Mallela, eds., pp. 141-147, ICFAI University Press, 2008

8 Pages Posted: 14 Apr 2010 Last revised: 31 Mar 2014

See all articles by Pankaj M. Madhani

Pankaj M. Madhani

Former Dean (Academics) & Professor

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Abstract

Intangible assets are a major tool for organizations to build competitive advantages as the value attached to intangible assets has increased manifold in the current era of knowledge or information economy. As firms now become more knowledge and information-based, intangible assets will comprise a significant percentage of the overall value of businesses. Firm’s future growth potential will be decided by intangible assets.

Although all intangible assets are very valuable and critical to organizations, its measurement and accounting practices are complex and involves many accounting issues. According to current accounting practices all of the intangible assets can’t be recognized as assets in the balance sheet of a firm. This article discusses many issues and accounting practices of IAS 38 for intangible assets.

Keywords: Intangible Assets, Accounting Standard, Accounting Practices

Suggested Citation

Madhani, Pankaj M., Accounting Standards for Intangibles Reporting. CORPORATE FINANCIAL REPORTING - CHANGING SCENARIO, D. Alagiri, K. Mallela, eds., pp. 141-147, ICFAI University Press, 2008 , Available at SSRN: https://ssrn.com/abstract=1587925

Pankaj M. Madhani (Contact Author)

Former Dean (Academics) & Professor ( email )

India

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