Διεθνές λογιστικό πρότυπο 38 : άυλα περιουσιακά στοιχεία

Abstract

This paper examines the consequences and effects on the financial statements under the International Accounting Standard (IAS) 38, Intangible Assets. The paper also investigates more intangibles-related issues, such as goodwill, R&D, plus the profitability of companies which have intangible assets. The sample consists of 241 UK industrial firms that are listed on the London Stock Exchange, while the period under analysis is 1 January to 31 December 2005, with some exceptions to spring or summer of 2006 with relative starting date. The study shows that the firms that have intangible assets have improved key financial measures such as leverage, profitability and growth rather that the firms that haven t. Firms with intangible assets would tend to borrow more often and try to expand more. For example, the study indicates that large firms with intangible assets would pay a larger dividend per share in order to attract investors whilst they are having liquidity problems and their debt ratios are larger than those that haven t. However, the results show that firms that present intangible assets at their balance sheet tend to exhibit more favourable financial results compared to firms that don t. Similar findings are obtained for firms that have goodwill and R&D expenses. The more profitable firms are usual to have intangible assets rather than the firms that are less profitable. The IAS 38 is being implemented thoroughly, by the firms at the London Stock Exchange at least, and it shows the strength behind the intellectual capital, brand names, goodwill, investments on projects and the means to more profitable results.