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Research and development (known also as R&D [2]) is considered to be an intangible asset (about 16 percent of all intangible assets in the US), [11] even though most countries treat R&D as current expenses for both legal and tax purposes. [2] Most countries report some intangibles in their National Income and Product Accounts (NIPA).
Today, these intangibles drive cash flow and are the primary sources of risk. Intangible asset information, management, risk forecasting and risk transfer are growing services as the economic base divests itself of physical assets. Rights to tangible and intangible assets are intangible, and can be traded globally. [4]
Uniform Standards of Professional Appraisal Practice (USPAP) can be considered the quality control standards applicable for real property, personal property, intangible assets, and business valuation appraisal analysis and reports in the United States and its territories. USPAP, as it is commonly known, was first developed in the 1980s by a ...
In the UK, IP has become a recognised asset class for use in pension-led funding and other types of business finance. However, in 2013, the UK Intellectual Property Office stated: "There are millions of intangible business assets whose value is either not being leveraged at all, or only being leveraged inadvertently". [46]
Definitions around "knowledge" are considered to be vague in terms of the formalization and modeling of a knowledge economy, as it is rather a relative concept. For example, there is no sufficient evidence and consideration for whether the " information society " could serve or act as the " knowledge society " interchangeably.
An asset's initial book value is its actual cash value or its acquisition cost. Cash assets are recorded or "booked" at actual cash value. Assets such as buildings, land and equipment are valued based on their acquisition cost, which includes the actual cash cost of the asset plus certain costs tied to the purchase of the asset, such as broker fees.
Goodwill and intangible assets are usually listed as separate items on a company's balance sheet. [ 4 ] [ 5 ] In the b2b sense, goodwill may account for the criticality that exists between partners engaged in a supply chain relationship, or other forms of business relationships, where unpredictable events may cause volatilities across entire ...
Intellectual capital is the result of mental processes that form a set of intangible objects that can be used in economic activity and bring income to its owner (organization), covering the competencies of its people (human capital), the value relating to its relationships (relational capital), and everything that is left when the employees go home (structural capital), [1] of which ...