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Accounting Standards for Intangibles Reporting

The Accounting World, Vol. 7, No. 10, pp. 21-28, 2007

8 Pages Posted: 18 Nov 2009 Last revised: 11 Nov 2011

Pankaj M. Madhani

ICFAI Business School (IBS)

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The value attached to intangible assets has increased manifold in the current era of knowledge economy. Intangible assets are a major tool for firms to build competitive advantages. As firms now become more knowledge and information-based, intangible assets will comprise a significant percentage of the overall value of businesses. It’s the intangible assets that create value and decide a firm’s future growth potential. Although all intangible assets are very valuable and critical to a firm, according to current accounting practices all of them can’t be recognized as assets in the balance sheet of a firm. This article discusses many issues of IAS 38 for intangible assets.

Keywords: Intangible Assets, Accounting Standard

Suggested Citation

Madhani, Pankaj M., Accounting Standards for Intangibles Reporting. The Accounting World, Vol. 7, No. 10, pp. 21-28, 2007. Available at SSRN:

Pankaj M. Madhani (Contact Author)

ICFAI Business School (IBS) ( email )

Editor, The IUP Journal of Corporate Governance


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