Over the last few years there has been a major shift in accounting rules that requires companies to identify and value any intangible assets they can. The aggregate value of all identified intangibles must be reported on the balance sheet along with the depreciation and the net value. The U.S. rules, Financial Accounting Standards Board (FASB) Statement 141/142, currently only apply to those intangibles acquired by acquisition but logically there is no distinction between intangibles acquired by acquisition and those developed internally. International rules, International Accounting Standards (IAS) 36/38 do not make that distinction and neither do the Securities and Exchange rule (SX) that requires all public companies to identify and value all intangibles that account for at least 5 percent of their company's total intangible value.
December 20, 2011
LES Member Price:$0.00