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Accounting for intellectual capital: On the elusive path from theory to practice
Author(s) -
Andrikopoulos Andreas
Publication year - 2010
Publication title -
knowledge and process management
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.341
H-Index - 44
eISSN - 1099-1441
pISSN - 1092-4604
DOI - 10.1002/kpm.355
Subject(s) - intellectual capital , book value , capital (architecture) , business , value (mathematics) , accounting , path (computing) , knowledge economy , individual capital , economics , financial capital , human capital , finance , computer science , economy , market economy , earnings , archaeology , machine learning , history , programming language
Intellectual capital emerged approximately twenty years ago as an alternative paradigm with the ambition to identify, measure, report and manage knowledge assets. While the need for regulatory frameworks to account for knowledge assets and intangible drivers of value was pressing in the setting of the “new economy”, intellectual capital has yet to establish itself as a dominant solution for accounting theorists, corporate professionals and regulators. This paper analyzes intellectual capital as a tool to meet practical needs with respect to accounting for and managing knowledge‐based, intangible wealth. Several explanations are provided on the extent of acceptance of intellectual capital as a management accounting alternative. Copyright © 2010 John Wiley & Sons, Ltd.