NDLI: Revisiting Accounting in the Knowledge-Based Economy

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Revisiting Accounting in the Knowledge-Based Economy

Content Provider	Springer Nature Link
Author	Velmurugan, Manivannan Senthil
Copyright Year	2010
Abstract	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.
Starting Page	318
Ending Page	332
Page Count	15
File Format	PDF
ISSN	18687865
Journal	Journal of the Knowledge Economy
Volume Number	1
Issue Number	4
e-ISSN	18687873
Language	English
Publisher	Springer US
Publisher Date	2010-10-02
Publisher Place	Boston
Access Restriction	One Nation One Subscription (ONOS)
Subject Keyword	Knowledge management Intellectual capital Knowledge-based economy Accounting Accountant Finance Accounting principles Entrepreneurship R & D/Technology Policy Economic Policy
Content Type	Text
Resource Type	Article
Subject	Economics and Econometrics

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1	Ministry of Education (GoI), Department of Higher Education	Sanctioning Authority	https://www.education.gov.in/ict-initiatives
2	Indian Institute of Technology Kharagpur	Host Institute of the Project: The host institute of the project is responsible for providing infrastructure support and hosting the project	https://www.iitkgp.ac.in
3	National Digital Library of India Office, Indian Institute of Technology Kharagpur	The administrative and infrastructural headquarters of the project	Dr. B. Sutradhar bsutra@ndl.gov.in
4	Project PI / Joint PI	Principal Investigator and Joint Principal Investigators of the project	Dr. B. Sutradhar bsutra@ndl.gov.in Prof. Saswat Chakrabarti will be added soon
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9	IDR Setup or Support	Queries related to establishment and support of Institutional Digital Repository (IDR) and IDR workshops	idr@ndl.gov.in

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