The Intangible Assets–A New Dimension in The Company's Success

AbstractThis paper is based on the assumption that there is a strong influence between the intangible assets on the financial value and the performance of a business. This is more obvious especially in the case of the businesses which require a considerable creativity or are science-based. Among others, we can mention the significant difference between the market value and the net book value of the intangible assets. In the best case scenario, the intangibles like the human skills or the customers’ value are usually improperly recognized or accounted for. We talk about further implication when the auditors certify that the balance sheet shows the fair view of the financial position of business in spite of the fact that it is not showing all the values involved. There have been only few researches in this field have and there is no model available, which could be considered to be free from major limitations. The major limitation of the existing models is that there is a clear difficulty to correctly identify all types of intangible assets and their influence inside a business. These are the facts that underlie our decision to start a research in this domain. Our study aims to propose a realistic practice for the valuation and accounting of intangibles the know-how or the customers’ value, staring from the analysis of the previous efforts done in this field by other researchers