Many Users of Financial Statements Believe That the Quality of Accounting

question 35

Essay

Many users of financial statements believe that the quality of accounting information for intangible assets is low because firms seldom report intangible asset resources on the balance sheet.However,from the perspective of accounting quality what are arguments in favor of expensing most intangibles and not recording them on the balance sheet?

---

Definitions:

Tarsal Region

Refers to the cluster of seven articulating bones in the foot located between the lower leg and the metatarsals.

Crural Region

Pertains to the leg, specifically the area from the knee to the ankle, encompassing the lower limb's anterior and posterior aspects.

Carpal Region

pertains to the area of the wrist that houses the carpal bones.