Value Creation Principles by Bartley J. Madden

Author:Bartley J. Madden [Madden, Bartley J.]
Language: eng
Format: epub
ISBN: 9781119706649
Publisher: Wiley
Published: 2020-06-10T00:00:00+00:00

5

INTANGIBLE ASSETS, BRANDS, AND SHAREHOLDER RETURNS

The failure of the accounting system to reflect the value of these [intangible] assets in financial reports, to properly account for their impact on firms' operations, and to provide investors with information about the exposure of these assets to threats of infringement and disruption, is a major cause of accounting's relevance lost. How ironic (or sad) that largely irrelevant assets to companies' growth and competitive edge—like inventory, accounts receivable, or plant and machinery—remain prominently displayed on corporate balance sheets, whereas patents, brands, IT, or unique business processes are accounting MIAs.

—Baruch Lev and Feng Gu1

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