Abstract
Today, wealth is created through a combination of intangible assets that generate value. Companies have recognized the importance of intellectual capital as a key factor for success, looking for ways to measure and control this factor. Differences arising between accounting and fiscal policy will be resolved over accounting. This chapter shows that it is imperative to review fiscal policy on intangibles so as to reach the premises of business development, reestablishing profit growth, and fiscal parameter supervision by senior staff. The transition to accounting convergence is very complex and will result in terms of significant accounting policies and principles that are currently in project of the IASB and FASB.
TopBackground
In recent decades, in Europe and the United States, each intangible accounting entity leads under national laws and regulations for each country in which that entity operates (legal personality, subsidiaries and branches). In situations where time was written in a book on the situation of an entity, the assets of a European state established after that state’s laws and regulations operate outside the legislation of other European countries or even overseas (Li, Qi, Tian & Zhang, 2017).
Key Terms in this Chapter
Estimate: Opinion regarding the value.
Valuation: The process of determining the value of an asset.
Financial Accounting Standards Board (FASB): Set up and develop generally accepted accounting principles.
Intangible: Represent immaterial assets.
Assets: As future economic benefits controlled by a particular business entity and also as economic resources which are owned by a business.
Organizational Performance: Elements affecting company performance such as financial and marketing factors, return on sales, return on investment, etc.