The Potential Role of Intellectual Capital in the Process of Accounting Convergence

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Author(s): Ionica Oncioiu (Titu Maiorescu University, Romania)
Copyright: 2021
Pages: 12
Source title: Encyclopedia of Organizational Knowledge, Administration, and Technology
Source Author(s)/Editor(s): Mehdi Khosrow-Pour D.B.A. (Information Resources Management Association, USA)
DOI: 10.4018/978-1-7998-3473-1.ch002

Keywords: Administration & Leadership / Business & Management / Business and Organizational Research / Business Science Reference

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Abstract

Today, wealth is created through a combination of intangible assets that generate value. Companies have recognized the importance of intellectual capital as a key factor for success, looking for ways to measure and control this factor. Differences arising between accounting and fiscal policy will be resolved over accounting. This chapter shows that it is imperative to review fiscal policy on intangibles so as to reach the premises of business development, reestablishing profit growth, and fiscal parameter supervision by senior staff. The transition to accounting convergence is very complex and will result in terms of significant accounting policies and principles that are currently in project of the IASB and FASB.

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The Potential Role of Intellectual Capital in the Process of Accounting Convergence

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