In the ‘Information Age’ merely accounting for ‘hard’ assets such as machinery no longer seems appropriate. Intellectual capital or ‘soft’ assets such as knowledge and skills are playing an increasingly important role in the current global economy. However, this paper argues that the recording of these ‘soft’ assets on balance sheets will only be possible if a universally accepted method of measuring them can be created. Some suggestions for such measurement are explored and arguments both in favour and against accounting for intellectual capital are investigated. The paper concludes by arguing in favour of more research to be undertaken.
|Journal||The Irish Accounting Review|
|Publication status||Published - 2002|