This preview shows page 1. Sign up to view the full content.
Unformatted text preview: hat an implicit classification system is
emerging from the recognition criteria for purchased or internally generated intangibles
(reference to the market, socio-legal recognition, risk level and value measurement).
Although the classification system proposed may appear fairly basic, it must be borne in mind
that they are for practical application in accounting, and accounting is an economic language,
in other words an instrument for communicating economic information.
With the publication of IASC standards, particularly IAS 38 on intangible assets, international
accounting finds itself in a context of harmonization. The new standard will encourage a
move towards globalization in considering the problem of intangibles, as it approaches and
treats goodwill, research and development costs and other intangible assets all in the same 16 way. The harmonization effort started by the IASC will apparently therefore involve seeing
intangibles as a homogeneous whole entity, rather than a list of assets.
This leads us to the following question: do the IASC’ efforts towards harmonization
contradict the desire to draw up categories of intangible assets? The aim of harmonization is
to reach a point whe...
View Full Document
- Fall '13
- The Land