Date: 27 September 2023
The UKEB has published its user survey on Accounting for Intangibles.
We are seeking your views on how the accounting for, and reporting of, intangible assets could be improved to provide users of financial statements, such as investors, with more useful information to help them make better informed decisions.
In the UK annual investment in intangible assets is estimated to be roughly equal to investment in tangible assets, amounting to roughly 7.5% of UK GDP or nearly £170 billion per annum. Over the period 2008-2021, the carrying amount of intangible assets recognised by FTSE 350 companies significantly increased, from £115 to £330 billion (a 185% increase over the period).
Intangible assets are expected to form a key part of the IASB’s future standard setting agenda, and this is a chance for investors and other users of financial statements to contribute to the evidence that the UKEB is collecting on the topic.
The survey takes around 20 minutes to complete. Stakeholder comments are welcome until 15 October 2023.
Click to access the survey.
If you would like more information on this project, take a look at our report ‘Accounting for Intangibles: UK Stakeholders’ Views’. It sets out stakeholder views on the accounting for intangibles under International Accounting Standards within the context of the wider economic impact of intangibles in the UK.