National accounting for intangible assets in the knowledge economy

Iain Clacher

Journal of Financial Regulation and Compliance, 2010, vol. 18, issue 2, 106-119

Abstract: Purpose - The purpose of this paper is to review the issues, difficulties, importance for public policy and current initiatives associated with developing a more comprehensive national accounting framework in relation to public and private sector investments in intangible assets. Design/methodology/approach - The paper analyses and evaluates the most salient statistics on intangible asset investments and the implications for public and private sector policy makers. Findings - The UK economy has a high representation of firms and activities that invest in intangible assets that are not traditionally included in national accounts and that their exclusion has a significant impact on the UK's apparent growth and productivity performance. Originality/value - The paper discusses a range of measurement and other difficulties in significantly developing a comprehensive national accounting framework that fully incorporates the impact of intangible asset investments upon national growth and productivity metrics.

Keywords: Accounting; Public sector accounting; Intangible assets; Knowledge economy; United Kingdom (search for similar items in EconPapers)
Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:eme:jfrcpp:v:18:y:2010:i:2:p:106-119

DOI: 10.1108/13581981011033970

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