IS THE FUTURE OF ACCOUNTING COMPATIBLE WITH THE ACCOUNTING OF THE FUTURE?

• Main Authors: Cristina-Ionela Fădur, Daniela Ciotină
• Format: Article
• Language: English
• Published: Alexandru Ioan Cuza University of Iasi 2011-03-01
• Series: CES Working Papers
• Subjects: accounting; intangible assets; market value; accounting value; e-commerce
• Online Access: http://www.cse.uaic.ro/WorkingPapers/articles/CESWP2011_III1_FAD.pdf

Purpose – There is currently a tendency to reverse the relation between physical and intangible assets, in favor of the latter, which triggers the need to pay an ever higher attention to intangible assets. This article aims at presenting the relativity and inconsistence of the current accounting systems and does not claim to suggest an alternative. Conclusions – Intangible assets are the most important resource that companies have in the process of value creation, but accounting balance in what concerns acknowledging, evaluating, and presenting intangible assets is only in an initial stage, in spite of the efforts made by national and international accounting bodies.