Accounting harmonization, from an international perspective, represents one of the aspects of this process: it proposes to overcome, or at least to limit, the existing differences in the drafting principles and in the criteria for evaluating the financial statements. In order for financial information to be one of the elements supporting users for making economic decisions from an international perspective, it is necessary that they be intelligible to potential recipients, regardless of the country they belong to.
The international financial report model is based on the systematic framework for the preparation and presentation of the financial statements (framework). The framework, approved in 1989 by the then International Accounting Standards Committee (IASC) and implemented in 2001 by the International Accounting Standard Board (IASB), represents the key element of the financial statements prepared according to the IAS / IFRS accounting principles. It defines the objectives of the financial statement disclosures, illustrates the fundamental characteristics of the financial report, provides the definitions of assets, liabilities and equity, cost and revenue, also specifying the general principles that must govern their recognition.
CEB has developed the process of certification of the economic and financial value of intangible assets (Fair Value), so that intangible assets, which according to IAS 38 respond to non-monetary assets, identifiable and without physical substance (unlike the national accounting principle 24, which includes intangible fixed assets including long-term charges, such as installation and expansion costs, advertising costs, etc.), can become an item of shareholders’ equity and, therefore, company-owned cash; this, in compliance with the principle of equality of all economic operators operating on the market.
The importance of this principle was also reaffirmed in the recent final document of the last G-20 (concluded on the first of December in Buenos Aires, Argentina, attended by the Heads of State or Government, Finance ministers and governors of the central banks of the G20 Member States, the group that brings together the 19 most industrialized countries in the world plus the European Union).
The idea that certificates ideas. The real energy source for a new and winning industrial operational scheme.
The reasons and the added value of the economic and financial certification of intangible assets.