Intangible asset accounting outlook: Valuation and reporting

Abstract

Subject. This article discusses the issues related to the regulation of the valuation of intangible assets and reflection of information about them in reporting. Objectives. The article aims to identify the prospects for solving the problematic aspects of the intangible assets valuation and reflection in reporting. Methods. For the study, I used a critical analysis, synthesis, comparison, observation, and the analogy approach. Results. The article identifies problematic aspects of intangible assets valuation and information disclosure in reporting. It presents the results of a study of new approaches to the intangible assets valuation and reporting information reflection in FSBU 14/2022 – Intangible Assets Standard, and in the FSBU Projects – Intangible Assets, developed by the Ministry of Finance of the Russian Federation and the National Non-Governmental Accounting Regulator "Accounting Methodological Center" (NRBU BMTs Fund). Conclusions and Relevance. FSBU 14/2022 – Intangible Assets Standard and the Ministry of Finance of the Russian Federation and the NRBU BMTs Fund's Projects contain regulations on the initial and subsequent measurements of intangible assets, their useful life, amortization methods, reflection of information in reporting, which differ from the rules of PBU 14/2007 – Accounting for Intangible Assets. Each of the Projects under consideration has both advantages and disadvantages with regard to the intangible assets valuation and reflection in reporting. The FSBU 14/2022 regulations are similar to those ones presented in the FSBU Project, developed by the Ministry of Finance of Russia. The adoption of FSBU 14/2022 is a step forward with regard to the regulation of intangible assets valuation and reporting compared to PBU 14/2007. The results obtained have both practical and theoretical areas of application in the field of financial accounting.