Bill Wexler's Dog Pound Message Board

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Non-Tech : Bill Wexler's Dog Pound

REFR 1.860

+6.3%

9:30 AM EST

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To: JDN who wrote (3408)	9/2/1999 11:41:00 AM
From: Marconi	Read Replies (2) of 10293

Hello JDN: intangible assets. it is the nature of the business that in HIGH TECH the INTANGIBLES may very well be the most valuable part of the business Agreed! And particularly for leading firms that have proven they know how to adapt to markets over time and deliver superior technological products. Intangible assets along these lines are very real and highly valuable. The abuse stems from extreme at the other end of the spectrum. The use of 'intangibles' as the primary asset for a startup. Particularly the Inet startups. Speculation in this sector is rampant to the point of heady gambling addictions have set the trading pace in that market at present. Dubious intangibles are swapped for more dubious intangibles. These hollow 'assets' are not fungible with the intangibles of most high technology going concerns. The hollow assets will have to collapse to a high degree before they can be legitimately traded in the regular equity markets fungibly. For the Inets, the intangibles is at least $100 billions in extent. That is enough to grab the attention of the FASB. Originally the intangibles accounting was a convenience to lump under one umbrella the myriad of legitimate intangible assets together so that financial reports would be more comparable and readable. That was helpful. To 'get away with' as much as possible by taking the form of this standard accounting practice without having the substance is an abuse tantamount to fraud, at the least, material misrepresentation. Accounting should be to 'tell the truth and stay out of jail'. Accounting audaciously and outlandishly is to be avoided, although that is the issue the FASB is trying to set aright. It is an awkward context for the historical use of the method. Best regards, m

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