IS THE FUTURE OF ACCOUNTING COMPATIBLE WITH THE ACCOUNTING OF THE FUTURE?

Purpose – There is currently a tendency to reverse the relation between physical and intangible assets, in favor of the latter, which triggers the need to pay an ever higher attention to intangible assets. This article aims at presenting the relativity and inconsistence of the current accounting systems and does not claim to suggest an alternative. Conclusions – Intangible assets are the most important resource that companies have in the process of value creation, but accounting balance in what concerns acknowledging, evaluating, and presenting intangible assets is only in an initial stage, in spite of the efforts made by national and international accounting bodies.