INTELLECTUAL CAPITAL ACCOUNTING – A CHALLENGE OF MODERN ACCOUNTING
Valahia University of Târgoviște, Doctoral School, Târgoviște, Romania
Abstract: In the context of the new global knowledge economy, hidden intangible assets (intellectual capital) have become the main generator of added economic value and the one that creates significant competitive advantages in the business world, but traditional valuation and accounting methods, in addition to referring only to past issues, they fail to provide concrete solutions regarding the valuation and accounting of all intangible assets generating value and competitive advantages of contemporary enterprises. This study aims to show the importance of hidden intangible assets (intellectual capital) in the knowledge economy, what are the modern methods of valuing and accounting for them and to what extent these methods manage to provide solutions to the reported valuation and accounting difficulties.
Keywords: hidden intangible assets, intellectual capital, accounting, valuation, market value
