A 20-year old British Firm Recently Found £120+ Million in (previously unknown) Assets

March 8, 2013 - PRLog -- The objective of IAS38 is to prescribe the accounting treatment for intangible assets that are not dealt with specifically by other IAS Standards. IAS38 requires a business to recognise an intangible asset if specified criteria are met. The Standard also specifies HOW to measure the carrying amount of intangible assets and requires specified disclosures about intangible assets.

So ... what does this mean for the Business Owners, FTSE firms and Market Analysts? It means that a lot of expenditure that is currently treated as a cost, should now be treated as an asset. This includes processes and systems such as ISO certifications (e.g. ISO 9362 (Banking), ISO/IEC 9579, 9592,9593, etc (IT) and ISOs relating to Risk Management, Financial Services and many others) and even the systems and
processes underpinning Investors in People (IiP). As noted above, a small firm with just 150 staff found over £120 million in identifiable assets. A major bank may find £Billions.

Potential benefits include:

★ Increase profits by treating ISO and other processes and system costs as an investment and not as a  overhead
★ Balance Sheet asset value and Shareholder Funds potentially increased (a 2013 client had over £120m book value identified).
★ Enhanced credit rating from improved Net Asset Value.
★ Decreased borrowing costs [mortgage, long term loans and overdraft costs can be reduced with enhanced credit rating].
★ Audited value of systems, processes etc for Trade Sale, IPO, M&A or other planned exit.
★ Increased CEO remuneration (when linked to increased shareholder value).

LEAN and Six-SIGMA processes also eligible. ISO processes under development or soon to be  implemented may also qualify for additional P&L treatment that will reduce implementation / development (including consultancy) costs by up to 100%.
London based 'Full Value Accounting Limited' is a specialist firm that audits the value of intangible assets across the whole of Europe.

TRAINING COURSE: One-day course for CEOs / Advisers / Consultants: http://www.eventbrite.co.uk/event/4820715891/eivtefrnd

RECRUITMENT: IiP and ISO Advisers/Consultants – Register HERE
http://fullvalueaccounting.com/register

AUDITS: To arrange for your intangible assets business to be audited see
http://fullvalueaccounting.com/contact-us or call Tony or Steven +44 (0) 203 289 6770