Accounting and Taxation of Intangibles with particular reference to IP

The aim of this Chapter is to provide an overview of the complex issues and various rules and approaches regarding accounting for, and reporting on, IP and intangibles. In particular, the analysis will delineate the issues linked to the recognition, measure, and disclosure both within and outside the traditional financial statements, which are posed by the intangible economy to private sector organizations. In this respect, there will be a section devoted to traditional accounting for intangibles and IP followed by a section illustrating some of the alternative methods to represent these critical resources.