Intangible Finance Standards – Advances in Fundamental Analysis and Technical Analysis : [PDF Download]

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“Accounting measures changes in legal property rights as evidenced by financial transactions (end-state contractual performance). The results of contractual performance are typically classified as assets, expenses, liabilities, capital, revenue, and profit or loss.

According to intangible management operating standards, these are defined as level 1 resources. In practicality, financial allocations occur because of the use of knowledge assets, relationship assets, motivation assets, and responsiveness assets (a fact accounting ignores). That is, decisions (soft) create financial performance (hard).

Competitive intangibles are therefore the source of all value creation. Competitive intangibles cannot be owned by organizations, but can only be influenced; it is this fundamental lack of ownership that causes accounting to be blind to intangibles.

The only intangibles that accounting recognizes are conventional intangible assets such as goodwill and intellectual property, but only to the degree that they have been substantiated by financial transactions (in accordance with accounting conventions such as the historical cost assumption, realization assumption, objectivity assumption, and the conservatism assumption).

As accounting cannot account for intangibles (it would be a violation of accounting principles to do so), it should not be surprising that accounting statements are becoming increasingly obsolete in the Intangible Management Economy.”

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