Capital Intelectual: Su Valoración en el Contexto Empresarial (Intellectual capital assessment on the entrepreneurial context)

La evolución que la economía mundial ha experimentado durante las últimas décadas ha traído consigo, entre otros hechos importantes, un cambio en el concepto y, por consiguiente, en las metodologías que son utilizadas por los expertos para la determinación del valor de una empresa en marcha. Es así como, hoy en día, el valor de las empresas se fundamenta preponderantemente en la capacidad que sus activos intangibles (dentro de los cuales se destaca el capital intelectual) tienen de generar beneficios económicos futuros, esto en contraposición al anterior esquema de valoración de empresas, el cual únicamente tasaba el valor de éstas en función de la productividad de sus activos tangibles. El presente artículo pretende reseñar las metodologías que actualmente son aceptadas y utilizadas para determinar el valor tanto financiero como contable del capital intelectual propiedad de una empresa, estableciendo a su vez, de forma clara, las diferencias importantes que existen entre ambos enfoques. Finalmente, se hacen algunas reflexiones acerca de la importancia que los activos intangibles y, en particular, el capital intelectual tienen tanto en la gestión estratégica y funcional de las empresas como en los procesos de valoración de éstas. Asimismo, se hace énfasis en la necesidad de que los expertos en materia de valoración financiera y contable de las empresas continúen trabajando en la búsqueda de un consenso para estandarizar un criterio que permita reflejar, de forma apropiada, el valor financiero de una empresa a nivel de sus estados financieros de uso general. ABSTRACTThe behavior of world economy on the last few decades has brought on, amongst other issues, a change in the concept and methodologies used by experts to value an ongoing business. Nowadays, a business is valued for the capacity of its intangible assets (specially its intellectual capital), to generate future benefits as opposed to the older view of business valuation that centered on the productivity value of its tangible assets. This article aims at summing up all the currently accepted and used methodologies to value both financially and accountably the intellectual capital owned by a business, clearly establishing the main differences found in either approach. Finally, some considerations are given about the importance that intangible assets (particularly intellectual capital), have in the strategic and functional management of companies. Also, we emphasize the need for experts in financial and accountable valorization to continue looking on for a consensus to standardize the criteria that will properly reflect the financial value of a business through their general financial statements.

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ALOKASI ANGGARAN, INTELLECTUAL CAPITAL, KINERJA KEUANGAN, DAN INDIKATOR KINERJA UTAMA BADAN LAYANAN UMUM

JIAFE (Jurnal Ilmiah Akuntansi Fakultas Ekonomi) ◽

10.34204/jiafe.v7i1.2915 ◽

2021 ◽

Vol 07 (01) ◽

Author(s):

Setyo Budi Hartono ◽

◽

Wahab Zaenuri ◽

Fania Mutiara Savitri ◽

Dessy Noor Farida ◽

...

Keyword(s):

Human Resources ◽

Financial Performance ◽

Path Analysis ◽

Intellectual Capital ◽

Performance Indicators ◽

Intangible Assets ◽

Budget Allocation ◽

Intangible Asset ◽

Tangible Assets ◽

Tangible Asset

Abstrak: Penelitian ini ditujukan pada anggaran dalam bentuk intangible asset (sumber daya manusia) dan tangible asset (aset tetap dan persediaan) yang diprediksi dapat mempengaruhi intellectual capital, kinerja keuangan sekarang dan mendatang, serta indikator kinerja utama. Alokasi anggaran sebagai baromater prioritas dalam mengembangkan intellectual capital ditujukan untuk memenuhi performa keuangan bagi indikator kinerja utama organisasi. Populasi yang juga menjadi sampel yaitu unit dan fakultas pada UIN Walisongo Semarang sebanyak 30 unit. Metode pengambilan sampling menggunakan teknik sampel jenuh yang mengambil seluruh populasi. Data yang digunakan adalah data sekunder berupa laporan tahunan dan laporan pencapaian indikator kinerja utama tahun 2019-2020. Analisis data menggunakan path analysis. Hasil penelitian ini adalah alokasi APBN tahun 2019 UIN Walisongo hanya terfokus pada tangible asset sebesar 82%, sementara 18% dialokasikan untuk intangible asset. Intangible asset tidak berpengaruh secara terhadap semua hubungan, hanya tangible asset saja yang dapat mempengaruhi intellectual capital secara langsung dan kinerja keuangan sekarang secara tidak langsung. Berdasarkan hasil penelitian ini menunjukkan perlu dilakukan audit sumber daya manusia sehingga dapat ditetapkan alokasi kebutuhan anggaran bagi intangible asset-nya. Abstract: This research is aimed at the budget in the form of intangible assets (human resources) and fixed assets and inventories that are predicted to affect intellectual capital, current and future financial performance, as well as key performance indicators. Budget allocation as a priority barometer in developing intellectual capital is aimed at meeting financial performance for the organization's main performance indicators. The population that is also a sample is 30 units and architecture at UIN Walisongo Semarang. The sampling method uses a saturated sample technique that takes the entire population. The data used is secondary data in the form of annual reports and performance indicator reports for 2019-2020. Data analysis using path analysis. The results of this study were that the 2019 State Budget allocation of UIN Walisongo only focused on tangible assets by 82%, while 18% was allocated for intangible assets. Intangible assets do not affect all relationships, only tangible assets can directly affect intellectual capital and current financial performance indirectly. Results Based on this research, it is necessary to conduct an audit of human resources so that they can determine the allocation of budget requirements for intangible assets.

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The return on assets method for intellectual capital and application in Istanbul Stock ExchangeHesaplanmış maddi olmayan değer yöntemi ile entelektüel sermayenin hesaplanması ve Borsa İstanbul’da bir uygulama

Journal of Human Sciences ◽

10.14687/jhs.v13i3.4187 ◽

2016 ◽

Vol 13 (3) ◽

pp. 4675

Author(s):

Tayfun Deniz Kuğu

Keyword(s):

Intellectual Capital ◽

Development Process ◽

Intangible Assets ◽

Stock Exchange ◽

Return On Assets ◽

Industry Development ◽

Tangible Assets ◽

Istanbul Stock Exchange ◽

Physical Assets

Industry development process based on the information of the physical assets must be incline toward. In this regard, enterprises as well as tangible assets, intangible assets they have is a growing importance. In this case, the measurement of intangible assets for businesses, evaluating and comparing with competitors constitutes necessity. In other words, it is necessary for the existence of intellectual capital business. ÖzetSanayinin gelişim süreci fiziksel varlıklardan bilgiye dayalı varlıklara yönelmeyi zorunlu kılmaktadır. Bu bakımdan işletmelerin maddi duran varlıklarının yanı sıra, sahip oldukları maddi olmayan duran varlıkları da artan bir öneme sahip olmaktadır. Bu durum işletmeler için maddi olmayan duran varlıklarının ölçülmesi, değerlendirilmesi ve rakipleri ile kıyaslanması zorunluluğunu oluşturmaktadır. Bir başka deyişle, Entelektüel sermaye işletmelerin varlığı için gereklidir.

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Intellectual Capital (Intangible Assets) Valuation Considering The Context

Journal of Business & Economics Research (JBER) ◽

10.19030/jber.v4i9.2694 ◽

2011 ◽

Vol 4 (9) ◽

Cited By ~ 2

Author(s):

Miguel Angel Axtle Ortiz

Keyword(s):

Intellectual Capital ◽

Intangible Assets ◽

Font Size ◽

Valuation Methods ◽

Valuation Method

<h1 style="margin: 0in 38.3pt 0pt 0.5in; mso-pagination: widow-orphan;">This article seeks to illustrate the evolution of intangible assets studies to the broader concept of intellectual capital and its valuation methods; then clarifies misunderstood concepts about the existence of intangible liabilities. A systemic dynamics approach to the IC valuation method considering the context finally is explained.</h1>

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Measurement of Intellectual Capital as Exemplified by Methods of Groups Based on the Roa Indicator and on Market Capitalization

e-Finanse ◽

10.1515/fiqf-2016-0008 ◽

2017 ◽

Vol 12 (4) ◽

pp. 58-71

Author(s):

Karolina Palimąka ◽

Mateusz Mierzejewskl

Keyword(s):

Intellectual Capital ◽

Food Industry ◽

Intangible Assets ◽

Financial Statements ◽

Point Of View ◽

Market Capitalization ◽

Knowledge Based ◽

Theoretical Approaches ◽

Knowledge Based Economy ◽

Business Analysis

Abstract The concept of a knowledge-based economy is a relatively new topic, but it does not mean that the previous economies did not use knowledge. For many years, knowledge formed the basis of any economy, it was a factor that set the pace of each of them, but just nit is making a significant impact on the entrepreneurial environment, and more. Inherent KBE is the concept of intellectual capital. The article raises both theoretical approaches towards the concept of intellectual capital, and points to the importance (from the point of view of managing this intangible value in the company) -of measuring intellectual capital. The process of good management of the value of intangible assets must be supported by knowledge about, e. g.,its size, value, etc. The authors focus on presenting methods of measuring intellectual capital from two groups of methods by the classification made by K. E. Sveiby, who is considered one of the fathers of the IC concept. The goal of the article is to compare methods from these two groups in terms of their flaws and advantages as regards preparing business analysis. This is done through presentation of the topic, including the concept and methods of intellectual capital measurement, which was based on the review of the literature.Furthermore, based on financial statements of companies from the WIG- oil&gas index and WIG- food industry indexwaysof interpreting the final results are presented.

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An Efficiency Model for Assessing Intellectual Capital

Scientific Research and Development Socio-Humanitarian Research and Technology ◽

10.12737/2306-1731-2021-10-1-84-91 ◽

2021 ◽

pp. 84-91

Author(s):

Aleksey Myasoedov

Keyword(s):

Intellectual Capital ◽

Intangible Assets ◽

Knowledge Society ◽

Favorable Effect ◽

Sustainable Competitive Advantage ◽

Economic Wealth ◽

Tangible Assets ◽

Key Factor ◽

Essential Resource ◽

Knowledge Intensive

Today we live in a knowledge society, a society shaped by the information revolution and developed by communication technologies. At the dawn of the new era, the concept of intellectual capital was first used to explain the importance of intellectual resources - such as information, knowledge, and experience - in the modern economy. Today, intellectual capital is a key factor in the company's profitability and has become an essential resource for creating economic wealth. In this environment, intellectual capital and intangible assets are fundamental to success. Intellectual capital consists of intangible assets that, when properly used, become a source of sustainable competitive advantage. To create value, the components of intellectual capital must interact. The assessment of intellectual capital is an important activity for any organization operating in a competitive market, and involves the achievement of intangible assets, but at a lower cost. The interest in measuring intellectual capital was caused by the fact that accounting, as it is currently practiced, has largely lost its information capacity as enterprises have become more and more knowledge-intensive. Traditional valuation methods based on accounting principles, where the value of a company's assets is a fraction of the value, have systematically undervalued companies. The existence of non-financial standards is critical to the company's value creation, as the accounting rules, under constant review, were originally developed for tangible assets, which are a source of wealth in the industrial period. In the literature, the assessment of intellectual capital is considered in different ways, with many approaches developed over time based on research and research, most of which are aimed at improving the performance of an organization, measured by different tools. This article is a synthesis of the most well-known models used to evaluate intellectual capital and its subsequent implementation in the case of Company X. The results obtained confirm the hypothesis that the intellectual capital of a company has a favorable effect on the results of the organization's activities and may indicate future competitiveness.

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Valuation of Internally Generated Intangible Assets in Accounting

Acta Economica Et Turistica ◽

10.1515/aet-2018-0012 ◽

2018 ◽

Vol 4 (2) ◽

pp. 181-195

Author(s):

Josipa Mrša

Keyword(s):

Intellectual Capital ◽

High Efficiency ◽

Intangible Assets ◽

Financial Statements ◽

Intangible Resources ◽

Starting Point ◽

Business Analysis ◽

Modern Business ◽

The Common ◽

The Difference

AbstractValuation and management of intangible assets in modern business is becoming more significant. Measurement of the value of intangible assets in this paper refers to the intangible resources for which the company did not have any procurement costs and, therefore, are not standardized in traditional accounting, and their use has the potential to create value on the market. Knowledge, as the basis of intellectual capital, becomes a basic strategic resource and a generator for improving the organization’s success. Therefore, determining the way of identifying and evaluating intellectual capital becomes the common practice of the most successful companies through indicators that have their quantitative or qualitative weight.The interest of users of financial statements for the value of intellectual capital depends on their involvement in the overall business. Its value is basically the difference between high-efficiency companies and those that are less efficient. It becomes the starting point for business analysis of the company to reveal the hidden, untapped value of human capital and point to the need to make the business better. Possible methods of valuation of the total intangible assets of the company are presented, some of which are standardized, but most of the value, contained in intellectual capital, is not valued or recognized. It is proposed that, along with the standard financial statements, the total value of the intellectual capital to which the results are realized on the market.

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Estimates Of Intangible Capital In Financial Statements

Journal of Applied Business Research (JABR) ◽

10.19030/jabr.v20i1.2196 ◽

2011 ◽

Vol 20 (1) ◽

Cited By ~ 1

Author(s):

Martha Sadler Lilly ◽

Ronald O. Reed

Keyword(s):

Cash Flow ◽

Intellectual Capital ◽

Stock Prices ◽

Global Economy ◽

Random Number Generator ◽

Balance Sheet ◽

Weighted Average ◽

Financial Statements ◽

Font Size ◽

Fortune 100

This research implements an inquiry into theoretical financial models and their related applications to intellectual capital (intangible expenditures) in accounting financial statements.  Intellectual capital differs from intangible property in that intellectual capital has not yet been documented in the form of patents, copyrights, trademarks, or other specific balance sheet assets (intellectual property).  Intellectual capital is indicative of expenditures of a discovery or development nature that has yet to prove its usefulness to the corporation or its marketability to external parties.  A random sample of 28 companies was selected from the top Fortune 100 as defined by revenues, using an Internet random number generator.  Rather than using earnings to compute capitalization rates, cash flow from operations is used as the surrogate.  The rationale is that cash flow is not as easily manipulated as earnings and is not subject to changing accounting rules.  Cash flow is critical to corporate survival and so is its funding of development for intangibles.  Stock prices are unstable; they even might be categorized as “chaordic.”  Accounting information provides us with historical cost in a global economy where future inventions and implementations of creative, instantaneous ideas are the foundation for new wealth.  Discount rates from four models (capital asset pricing model, weighted average cost of capital, Ibbitson, Black/Isom) are applied to the cash flow from operations stream of the sample firms to determine an estimate of the unrecorded intellectual capital.

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Os activos intangíveis nas contas das empresas do PSI 20 : uma evidência empírica

Pecvnia Revista de la Facultad de Ciencias Económicas y Empresariales Universidad de León ◽

10.18002/pec.v0i8.679 ◽

2009 ◽

pp. 183

Author(s):

Maria da Conceiçâo da Costa Marques

Keyword(s):

Intellectual Capital ◽

Information Society ◽

Industrial Revolution ◽

Intangible Assets ◽

Stock Exchange ◽

Financial Statements ◽

Business World ◽

The Past ◽

Current State ◽

Factors Influencing

En la actualidad podemos enumerar como activos intangibles contables las patentes, marcas, derechos de autor, etc. Sin embargo, hay otros cuya existencia se reconoce ampliamente y que, a pesar de no estar identificados o medidos, también contribuyen a los resultados de una entidad, como el goodwi II o el capital intelectual, entre otros.La Contabilidad de activos intangibles ha cobrado impulso en las últimas décadas debido a los cambios que se han producido en el mundo de los negocios. Los avances en la industria y, en concreto la sociedad de la información, disponen de activos intangibles que son de aplicación en el mundo de los negocios.El reconocimiento de los activos intangibles en los libros de las entidades puede ser el siguiente paso, en concreto en lo que se refiere a ciertos tipos de negocios, como el de la industria del conocimiento.En el presente estudio se analizan los factores que influyen en la divulgación e información de activos intangibles voluntarios y obligatorios de un número de empresas portuguesas que cotizan en bolsa. Asimismo, exploramos la línea de pensamiento actual sobre activos intangibles y cómo se evalúan, reconocen y presentan estos recursos en los estados financieros de las empresas portuguesas. Today, as intangible assets recognized by the accounting, we can list the patents, trademarks, copyrights, etc. But there are other intangible assets whose existence is widely acknowledged that although they have not yet been identified or measured, also contribute to the results of an entity such as Goodwill or the Intellectual Capital, among others.Accounting for intangible assets gained prominence in the past decades due to changes that are occurring in the business world. The industrial revolution and, in particular, the information society, have the resources in front of the intangible world of business.The recognition of intangible assets on the books of the entities can be the next step forward especially for certain types of business such as the industry of knowledge. In this study we analyze the factors influencing the disclosure and information, mandatory and voluntary (intangible assets), of a number of Portuguese companies whose securities are traded on stock exchange. We also explore the current state of thinking on intangible assets and how those resources are being evaluated, recognized and presented in financial statements of Portuguese companies.

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Intangible Assets Accounting and Reporting Issue

Marketing and Management of Innovations ◽

10.21272/mmi.2019.4-15 ◽

2019 ◽

pp. 182-193

Author(s):

Z.-M. Zadorozhnyi ◽

V. Yasyshena

Keyword(s):

Financial Reporting ◽

Intellectual Capital ◽

Intangible Assets ◽

Financial Statements ◽

Additional Line ◽

Literary Sources ◽

Accounting Software ◽

The Impact ◽

Management Reporting ◽

Management Report

The article examines the views of foreign economists on the importance of the impact of intangible assets (IA) and goodwill on business. The main purpose of this study is to improve and develop approaches of accounting for IA and goodwill, reflecting them in the financial and management reporting. The systematization of literary sources and the study of regulatory documents showed that there were several problematic issues related to the accounting and reporting of IAs and goodwill that needed elaboration and clarification. The urgency of solving this scientific problem lies in the fact that due to the existence of unresolved issues in accounting for IA and goodwill, as well as the formation of indicators in the financial statements, there is a significant gap between the methodology of accounting for these assets and current requirements of the economy. It is proposed to amend the Methodological Provisions № 417 by allocating the IA into a separate group for more detailed state statistical observation of these assets. It is recommended to separate the subaccount for accounting software showing the detailed information for this subaccount in the Notes to the Annual Financial Statements. To reconcile goodwill with the Plan of Accounts and Reporting, it is offered to set out the title of Section 1 of the Notes to the Annual Financial Statement, as follows: «Intangible Assets and Goodwill». It is recommended to keep records of internal goodwill in managerial and financial accounting, with the separation of the subaccount, with amendments to Section 1 of the Notes to the Annual Financial Statements regarding the inclusion of additional line 095 «Internal Goodwill». For management accounting of IA and goodwill, it is proposed to use the form of internal management reporting, which is based on paragraph 5 «Notes to the Annual Financial Statements», which contains additional indicators that allow the management system to identify IA s both at the respective centres of responsibility and their units, for different periods, to control the amount, direction, deviation of the planned and actual expenses at the receipt of IA, etc. It is recommended to open an additional subaccount for accounting for IAs shortages with the disclosure in the Annex to Methodological Recommendations № 1327 of the procedure for accounting for IAs shortages using this subaccount. It is justified that the Management Report should be considered as a supplement to the financial statements. The management report proposes to disclose the information about the IA and, if available, about goodwill (internal goodwill), and to provide information aimed at the development of intellectual capital. Keywords: brand, internal goodwill, management report, management report, identification, intellectual capital, intangible assets (IA); non-current assets, accounting, managerial reporting, financial reporting.

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Faktor-Faktor yang Mempengaruhi Nilai Perusahaan dengan Profitabilitas sebagai Variabel Intervening

E-Jurnal Akuntansi ◽

10.24843/eja.2020.v30.i07.p18 ◽

2020 ◽

Vol 30 (7) ◽

pp. 1857

Author(s):

Cahya Suryani ◽

Lilik Handajani ◽

Lukman Effendy

Keyword(s):

Corporate Governance ◽

Intellectual Capital ◽

Firm Value ◽

Stock Exchange ◽

Capital Good ◽

Financial Statements ◽

Audit Committees ◽

Company Value ◽

Good Corporate Governance ◽

Tangible Assets

This study aims to analyze the factors that affect Company Value by using profitability as an Intervening Variable. The research data was obtained from the annual financial statements of the banking sub-sector companies listed on the Indonesia Stock Exchange in 2016 to 2018. Data analysis used path analysis techniques. The analysis shows that the intellectual capital variable measured by VAICTM has no effect on profitability that is proxied by ROE and the value of the company is measured using the total amount of assets, this is because there are still many companies that do not pay attention to intellectual capial on their companies, companies tend to pay more attention tangible assets while Good corporate governance which is proxied by the number of audit committees only has a significant effect on firm value while profitability (ROE) has a significant effect on firm value. Keywords: Company Value; Profitability; Intellectual Capital; Good Corporate Governance.

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