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Determination of the Value of Intangible Assets in the Companies of Lithuania

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  • Bužinskienė Rita

    (Siauliai State College, Lithuania)

Abstract

In accordance with generally accepted accounting standards, most intangibles are not accounted for and not reflected in the traditional financial accounting. For this reason, most companies account intangible assets (IAs) as expenses. In the research, 57 sub-elements of IAs were applied, which are grouped into eight main elements of IAs. The classification of IAs consists in two parts of assets: accounting and non-accounting. This classification can be successfully applied in different branches of enterprises, to expand and supplement the theoretical and practical concepts of the company's financial management. The article proposes to evaluate not only the value of financial information for IAs (accounted) but also the value of non-financial information for IAs (non-accounted), thus revealing the true value of IAs that is available to the companies of Lithuania. It names a value of general IAs. The results of the research confirmed the IA valuation methodology, which allows companies to calculate the fair value of an IA. The obtained extended IAs valuation information may be valuable to both the owners of the company and investors, as this value plays an important practical role in assessing the impact of IAs on the market value of companies.

Suggested Citation

  • Bužinskienė Rita, 2017. "Determination of the Value of Intangible Assets in the Companies of Lithuania," Economics and Culture, Sciendo, vol. 14(2), pages 55-68, December.
    • Handle: RePEc:vrs:ecocul:v:14:y:2017:i:2:p:55-68:n:6
    DOI: 10.1515/jec-2017-0018
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    References listed on IDEAS

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    1. Paula – Angela VIDRASCU, 2015. "Intangible Assets - Sustainable Economic Factors And New Creators Of Value," Internal Auditing and Risk Management, Athenaeum University of Bucharest, vol. 37(1), pages 65-76, March.
    2. Adriana - Sofia DUMITRESCU, 2012. "Intangible Assets: Are These Resources Sufficiently Visible and Properly Controlled?," Journal of Accounting and Management Information Systems, Faculty of Accounting and Management Information Systems, The Bucharest University of Economic Studies, vol. 11(4), pages 545-563, December.
    3. Violeta SACUI & Miclea Camelia SZATMARY, 2015. "Intangible Assets in Business Combinations," REVISTA DE MANAGEMENT COMPARAT INTERNATIONAL/REVIEW OF INTERNATIONAL COMPARATIVE MANAGEMENT, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 16(3), pages 385-397, July.
    4. Chatterjee Abhijeet & Gupta Richa, 2010. "Intellectual Capital Accounting," Advances In Management, Advances in Management, vol. 3(9), September.
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    More about this item

    Keywords

    intangible assets; financial information; non-financial information; fair value;
    All these keywords.

    JEL classification:

    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill

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