Essay About Intangible Assets And Intangible Assetscontentpart

Acct 5531 – Individual Research Assignment on Intangible Assets
ACCT5531 Financial Accounting Theory and PracticeIndividual Research Assignment on Intangible AssetsContentPart 1 Information about Intangible assets……………………………………………….3Introduction…………………………………………………………………………………..3Current reporting requirements for recognition and measurement of intangible assets……………………………………..3Definitions……………………………………………………………………………………3Characteristic………………………………………………………………………………..4Recognition…………………………………………………………………………………..5Review the arguments for and againstthe current reporting requirements about intangible assets…………………………….6Support………………………………………………………………………………………..6Against………………………………………………………………………………………7Perspective and suggestion on the current accounting treatment of intangible assets…………………………………………………9Part 2…………………………………………………………………………………………11Reference……………………………………………………………………………………13Part 1 Information about Intangible AssetsIntroductionIn the era of knowledge economy, the most important economic resource of an enterprise is gradually moving from tangible assets to intangible assets closely related to enterprise innovation activities, organizational design and human resource practice. Intangible assets not only play an increasingly important role in the enterprise competition, but also become an important source of value for the survival and development of enterprises, providing a strong driving force for the diversification of value creation (Maria & Anna 2014). Also Intangible assets to a large extent reflect the contemporary economic development, technological level and organizational management requirements and have gradually become an important force in enterprise development and market competition. Therefore, this report will discuss the current reporting requirement for intangible assets and also review the arguments for and against the current reporting requirements about intangible assets. Finally, perspective and suggestion on the current accounting treatment of intangible assets will be provided to help decision maker to making purposes.