Accounting for Intangibles: Financial Reporting and Value Creation in the Knowledge Economy

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accountingforintangiblesPrepared as part of The Work Foundation's Knowledge Economy programme, this report takes into account the growing importance of intangible, knowledge-based assets in industrialised economies, and the difficulties now encountered in accounting for these assets, especially for small- and medium-sized enterprises and the public sector. It argues for improved accounting practices and government provision of advice services, auditing and indexing for intangible assets, and the creation of new financial institutions including a national knowledge bank for their exploitation.