Economics and Business Management

The article discusses the accounting treatment for intangible assets. The authors note that intangible assets are the result of economic and technological development. On this basis, the classification of economic eras according to the relationship between the use of tangible and intangible assets has been considered. The article also highlights the main criteria for intangible assets, namely legal and economic. The authors note that intangible assets are a group of balance sheets in which the intellectual resources of the new economy could be reflected. It is noted that UNAS 8 “Intangible Assets” does not contain certain parts of the sections that are reflected in IAS 38 “Intangible Assets,” in particular, separate acquisitions of an asset and acquisitions as part of the business association, acquisitions through government grants, etc. Accounting systems and items relating to intangible assets are considered. Intangible assets, and especially intellectual capital, are considered to be an important source of capital deepening in European countries, albeit with significant differences among countries. It is noted that one of the biggest challenges in accounting for intangible assets is their valuation, and, according to certain requirements of the legislation, the entity may revalue at fair value at the balance sheet date, but if there is no active market, the revaluation may be carried out on the basis of an expert assessment of the subject of the evaluation activity. The authors maintain that the pres ge or importance of intangible objects can be assessed by expert judgment, as many factors constrain the implementation of the exceptional features or properties specific to these objects. The authors discussed various methods for intangible asset valuation and the priorities for applying expert valuation approaches to intangible assets and intellectual property objects in foreign practice. The article also deals with statistical data on the value of intangible assets in the balance sheets of Ukrainian enterprises.

intangible assets; intellectual capital; accounting; valuation methods; accounting standards