TY  - JOUR
T1  - Revisiting Accounting In The Knowledge-Based Economy
TT  - Revisiting Accounting In The Knowledge-Based Economy
AU  - Velmurugan, Manivannan Senthil
PY  - 2011
DA  - June
JF  - Bilgi Ekonomisi ve Yönetimi Dergisi
JO  - JKEM
PB  - İbrahim Güran YUMUŞAK
WT  - DergiPark
SN  - 1308-3937
SP  - 1
EP  - 13
VL  - 6
IS  - 1
LA  - tr
AB  - The purpose of this paper attempts to give an explanation of why accounting bodies are hesitant to embrace new intellectual capital valuation and reporting models that have sprung up in the last decade, in spite of the fact that accounting standards are generally ill-suited to cater for intangibles. Despite some resistance, this paper highlights the commendable efforts of those pushing for change, and even offers recommendations to standard setters and accountants at large as to the way forward in approaching the complex dynamics involving the measurement of intellectual capital. The information of the research project was gathered from various secondary sources of data. The sources range from: industry trade journals; practitioner accounting journals; and academic publications, to give both practical and theoretical views on the subject matter. A comparison will first be made that looks into the limitations of existing financial models and the subsequent implications of ignoring IC in financial statements versus the significance of accounting for IC. The second part entails comparing IC valuation techniques using conventional reporting standards against proposed new reporting methodologies. From this discussion, a conclusion will be drawn which will include a proposition of a way forward in addressing IC.
KW  - Knowledge Management
KW  - Accountant
KW  - Finance
KW  - Accounting Principles
KW  - Accounting
KW  - Intellectual Capital
KW  - Knowledge-Based Economy
N2  - The purpose of this paper attempts to give an explanation of why accounting bodies are hesitant to embrace new intellectual capital valuation and reporting models that have sprung up in the last decade, in spite of the fact that accounting standards are generally ill-suited to cater for intangibles. Despite some resistance, this paper highlights the commendable efforts of those pushing for change, and even offers recommendations to standard setters and accountants at large as to the way forward in approaching the complex dynamics involving the measurement of intellectual capital. The information of the research project was gathered from various secondary sources of data. The sources range from: industry trade journals; practitioner accounting journals; and academic publications, to give both practical and theoretical views on the subject matter. A comparison will first be made that looks into the limitations of existing financial models and the subsequent implications of ignoring IC in financial statements versus the significance of accounting for IC. The second part entails comparing IC valuation techniques using conventional reporting standards against proposed new reporting methodologies. From this discussion, a conclusion will be drawn which will include a proposition of a way forward in addressing IC.
UR  - https://dergipark.org.tr/tr/pub/beyder/issue//47285
L1  - https://dergipark.org.tr/tr/download/article-file/40424
ER  -