Intangible assets in corporate accounting and reporting

Abstract

Purpose: to investigate the procedure for the formation and disclosure of systematized information on intangible assets in the public financial statements of corporation.
Discussion: The innovative activity of corporations is connected with the inclusion of intellectual property items with the number of assets.
These facilities have a reliable estimate, are used for a period exceeding 12 months, do not have a material form, provide real or patent revenues.
Reliable information on this group of assets allows to make sound economic decisions.
Results: Authors proposed an approach to valuation of intangible assets taking into account signs of impairment. The article substantiates the need to amend domestic accounting regulations in the area of recognition and recognition of goodwill in public financial statements.