Global Rulemaker to Launch Major Intangibles Accounting Changes

A global accounting standard-setter will begin this week the lengthy process of overhauling decades-old rules for reporting on intangible assets such as intellectual property.

On May 22 the International Accounting Standards Board is to vote on proposals that focus on the information investors want to see included in intangibles reporting, and the best way to give it to them. The latest figures from the UK’s Office for National Statistics show that in 2022 UK companies invested £200 billion ($265.4 billion) into intangibles, £32 billion more than they spent on physical assets like buildings.

A staff paper for IASB’s meeting recommended ...