Fair value and intangible assets

Maurice Nussenbaum

Revue d'Économie Financière, 2003, vol. 71, issue 2, 57-71

Abstract: [eng] The valuation of intangible assets is problematic given their conditional, and therefore volatile, nature. The challenge for accountants is even greater since there is no easily available reference for this value on an active market. This value is often calculated solely on the basis of estimates of their future potential. Unlike tangible assets, the subjective nature of their valuation is exacerbated by the fact that it cannot be corroborated by any easily identifiable acquisition or creation costs that could be compared with the estimates of future earnings. The standard accounting treatment is to book transactions at (historical) cost, however this becomes problematic in the case of intangible assets since their acquisition cost is hard to isolate, unless the asset has actually been purchased separately. Nonetheless, accounting cannot afford to ignore these assets, as their impact on the value of a company has become vital. This article deals with different problems implied by the accounting of intangible assets. . JEL classifications : M41

Date: 2003
Note: DOI:10.3406/ecofi.2003.4746
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