The $40-billion write-off

Article Abstract:

The possible introduction of new intangible assets accounting regulations to Australia could financially impact the country's top corporations. If the international accounting standard IAS 38 becomes a rule, $40 billion of intangibles may have to be written off by 2019. Australia's top 200 corporations have $59.9 billion in intangibles and goodwill. The top corporations stand to see average profits dip by 39%. Other arguments against adopting the standard are that it will make Australian companies uncompetitive with international counterparts and that international companies might be hesitant to make secondary exchange listings in Australia.

Regulation, Licensing, and Inspection of Miscellaneous Commercial Sectors, Accounting Services Regulation, Statistical Data Included, Economic aspects, Laws, regulations and rules, Accounting services, Business enterprises, Accounting law

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Standard deviation: the value of intangible assets, the keystone of wealth for some companies, has some under threat as Australia debates a controversial new accounting standard

Article Abstract:

The implementation of international accounting standard IAS 38, which concerns the value of intangible assets, could cause a major decrease in the net asset value of several large Australian companies. This standard prevents the revaluation of intangible assets and requires intangible assets be given a 'useful life'.

Asset Accounting, Corporations, Assets (Accounting)

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Media companies' good news on intangibles: A proposed accounting change to write off the value of mastheads and brand names could have cost billions

Article Abstract:

Proposed changes to Australian accounting standards could have forced media companies to amortise, or write off, the value of mastheads and brand names, but there has been a full review of the changes, following lobbying against the proposal by media companies.

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