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Essay / Research Paper Abstract
This 5 page paper discusses the view that the exclusion of some intangible assets from the balance sheet is inconsistent and gives an incomplete picture, which cannot be justified by the requirement for accounts to be objective and prudent. The bibliography cites 3 sources.
Page Count:
5 pages (~225 words per page)
File: TS14_TEiassets.rtf
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Unformatted sample text from the term paper:
the owners of the company; the shareholders, of the performance of the company. The primary designated user group is the investor, who is deemed to be the defined user. This
has implications on the way in which the accounts are prepared and it may be argued that if this defined user was another stakeholder group there would be a different
perspective placed on the annual accounts and the results would be presented in a very different manner (Elliott and Elliott, 2005). However, whatever rules or guidelines are in place it
cam be argued that the balance sheet was initially designed to reflect the assets of the company. Today, as there are increasing levels of intangible assets there is controversy over
whether or not these should be included in the balance sheet as they are playing an increasing important role in the performance of a business (Bontis et al, 1999).
The investor is interested in the return they will get on a share both in terms of the dividend and the capital growth of a share. This may be seen
as a short term approach, there is the desire to assess the performance of the company and a range of often used ratios have been developed that will allow companies
with companies in similar industries or sectors. There is also the desire to use this information to project forwards, to try and determine what shareholder value is being created and
will materialise in the future. To facilitate these needs there is the requirement that accounts are not only presented, but also audited to give an assurance of accuracy, however, there
is also an expectation gap. The aim is to give the shareholders an accurate view of the company and its position. In the past it may be argued that the
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