| Abstract [eng] |
Research relevance and problem. Lack of information on the framework of intangible assets allows companies to manipulate accounting of their financial results. In accordance with international accounting standards, intangible assets are defined as non-monetary assets, consequently, because of uncertainty and intangibility, only a small part of investment into them is recognized, accounted and disclosed in financial reports. Research shows that companies prefer accounting investment into intangible assets as expenses, what reduces earnings showed in financial reports. Because assets are resources, play the primary role in the company and involve many indicators (solvency, profitability, turnover, etc.) it is relevant to investigate the framework of intangible assets in company financial reports. Accounting of expenditure for intangible assets as general expenditure directly affects financial results of the company, its profit and taxes payable. The task is to set criteria for recognising assets as intangible by their specificity, needs and opportunities. Owing to different international accounting standards the framework of intangible assets used by companies in USA, UK, Germany, Malaysia, India and other countries is more complete and detailed than the one used by Lithuanian companies. Practical assessment of the framework of intangible assets and the scope of such information disclosure have been studied insufficiently. The research problem is as follows: What should be accounted as intangible assets in the framework of intangible assets of Lithuanian companies? Research object: the framework of intangible assets. Research aim: to study the framework of intangible assets in financial reports of different foreign companies and to compare with the one of Lithuanian companies? [...]. |
