Partner Workshop: Accounting for Intangibles
Wednesday, 16 September 2009 08:30 - 11:00
The Work Foundation, 21 Palmer Street, London
Introduction
The 'value paradox': How do you find a way of effectively accounting for intangible assets with existing accountancy conventions? Following the launch of a new report commissioned by the Knowledge Economy programme, this event explored the challenges facing intangible- rich businesses, including (SMEs).
The event in detail
In the knowledge economy, the ability to exploit intangible knowledge- based assets – R&D, design, software, and human and organisational capital – is critical for organisation success. By 2004 such investments were worth £130 billion – outstripping investment in buildings, machines, equipment and vehicles.
Yet, we have found it hard to find a way of effectively accounting for these assets with existing accountancy conventions. This creates a "value paradox" – the things we think are most important to business success are also those we find hardest to reflect in a set of accounts.
Based on the findings of a new report commissioned by The Work Foundation's Knowledge Economy programme, this event explored the challenges facing intangible- rich businesses, including some of the specific problems faced by SMEs. We looked into how to capitalise on the huge intangible asset base locked up in the public sector in ways that enhance public value and discussed ways in which policy can help intangible rich firms and organisations to develop and prosper.
This event addressed some of the following issues:
- How do we resolve the "value paradox" without abandoning sound accountancy practices?
- What are the specific challenges and opportunities facing SMEs?
- How can the intangible asset base of the public sector be unlocked to enhance public value?
- What are the practical steps policy- makers and others can take to help resolve the "value paradox?"
Speakers were:
Speakers from The Work Foundation
Further Information
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