ABSTRACT
This chapter argues how this objective relates to the accounting treatment of intangible assets and brands in particular. It describes the main accounting rules governing the recognition of brands in international standards (IFRS) and UK GAAP. The chapter explains the rules for initial recognition of brands under IFRS. It analyses the rules for monitoring their value under IFRS. The chapter explains how UK accounting standards in relation to intangible assets have evolved over the past 30 years and the standards currently applicable. Finally, it concludes the chapter with an analysis of the level of intangible assets recognised in the accounts of FTSE 100 companies. Under the "Conceptual Framework for Financial Reporting' (IASB, 2001), the main objective of IFRS is to provide financial information useful to existing and potential investors, lenders, and other creditors in making decisions about providing resources to entities.
