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Accretive intangible assets: Bridging the GAAP with CPAs
Internally grown intangible assets have risen significantly in stature and value in recent decades. Despite the undeniable growth, accountants and the standard setters who create the accounting rules refuse to recognise intangible assets on the balance sheet. These restrictions create a huge stumbling block for managers trying to run corporations for value creation. What makes certified public accountants (CPAs) so steadfast in their resistance to recognise or even provide guidance on how companies should manage the value of intangible assets? The first step towards understanding anything is to speak to the players involved — with that in mind, this survey attempts to bridge the generally accepted accounting principles (GAAP) with CPAs.
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James R. Gregory is the Chairman of Tenet Partners, in New York City. He is also a senior fellow at The Conference Board. James is a doctoral candidate at the Muma College of Business at the University of South Florida in Tampa.