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Research by the FRC in 2018 indicated that stakeholders supported further research on intangibles. A discussion paper was issued in February2019.

The joint response by UKSA and ShareSoc to the discussion paper can be accessed here.

The definition of intangibles for the purposes of the discussion is:

‘Intangible factors that are important to an entity in its creation of value, whether or not they are secured by legal means and whether or not they meet the current definition of ‘assets’.’

The discussion paper looks at the reporting of intangibles including, licenses, customer lists, customer and supplier relationships and employee training amongst others. Clearly, many of these are not things that would normally be classed as assets. So how can they best be accounted for and reported?

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