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A Call for Accounting Transparency: The Value of Customers and Brands
New Rules for Disclosing Intangible Assets Will Require Reporting on Customer and Brand Assets
June 2, 2005
By:
Patricia Seybold
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Executive Summary:
The US Financial Accounting Standards Board (FASB) is readying rules that will require US companies to report the value of intangible assets, such as customer lists and brands. This is part of an inexorable trend towards more accounting transparency. The good news is that the value of your customer list will now be considered an asset on your balance sheet. The bad news is that you may not be ready to report this crucial information with the accuracy that we believe will be required. Here are five steps you should be taking today to get ready.
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