The diploma thesis is focused on reporting of intangible assets according to Czech accounting legislation and International Financial Reporting Standards. Based on the comparison of intangible assets reporting, the impact of the differences on the financial situation of selected business units operating in the energy industry is mentioned. It contains a proposal for a procedure to assess the relevance of displayed information about intangible assets to selected groups of users of financial statements.

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Background: SMEs directly influence the economic growth of the countries, however these companies are facing several challenging problems, among others, an increasingly competitive environment and financial limitations. Therefore, improving knowledge on the relation between the SMEs growth and different investments is of importance for SMEs decision makers and strategy developers.    Objectives: In this work the goal is to examine the relation between the SMEs growth and investments in tangible and intangible assets. The focus of the study is on Swedish SMEs from the industrial sector with the aim of examining the six hypotheses on the relation between different investment and growth parameters.  Methodology: 57 Swedish publicly listed SMEs are selected, and their financial data related to firm’s growth, i.e. KPIs such as Revenue and EBITDA growth, and investments, i.e. investments in tangible and intangible assets. Lastly, moderating variables, i.e. firm’s size and employee growth index, are collected from three well-known and precise databases. The secondary data is analyzed employing both fundamental and regression analyses.  Results: Analyses indicate that growth KPIs are in a positive relationship with the total investments in tangible and intangible assets. In particular, a clear relationship between the investments in tangible assets and Revenue growth is obtained while a strong relationship between the investments in intangible assets and EBITDA growth is achieved. The firm's age is found to be an important moderating parameter impacting the relationship between the growth and investment parameters, but the influence of the employee growth index is mainly reflected upon increased robustness, reliability and validity of the model, seen by improvement of the regression fitting.  Conclusions: Results suggest that statistically there is a positive relationship between the firm's growth and targeted investments, however the amount of investments and the division of investments between tangible and intangible assets cannot be easily based on the statistical analysis. Although much in line with the statistical analysis, some deviating trends of both independent and dependent variables could be identified through the fundamental analysis, making it a good complement to the regression analysis. With our results and answers to the research questions being in hand, it is our belief that investment decisions should be more carefully evaluated focusing on the firm's strategies, life cycle and growth stage, capacity, type, age and the organizational structure of the specific firm that stakeholders are managing.  Recommendations for future research: A suggestion for the future research is to expand the present analysis on data from more firms, including several other growth KPIs in the statistical analysis and include other categories of investments compared to that of the present study such as M&As and partnership investments. This will strengthen the arguments and conclusions presented in this study and contribute to future research within the field.

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A partir de 2004, a Contabilidade Pública brasileira está passando por uma série de modificações na busca da adequação normativa, inclusive, para tratamento dos ativos intangíveis. Desde os primeiros esforços para a convergência da Contabilidade Pública com os padrões internacionais, com a criação de um grupo de estudos específico para esta finalidade, até 2014, o processo de implantação das mudanças não havia ocorrido na prática, apesar de todo o esforço do CFC, STN e Secretaria Executiva do Ministério da Fazenda. Porém, em 2015, com a adequação do sistema e a publicação da Portaria nº 548, foi fixado um cronograma para adoção gradual dos procedimentos contábeis patrimoniais até 2021. Este estudo teve como objetivo realizar uma série de apontamentos necessários ao tratamento contábil dos ativos intangíveis no setor público, dada sua obrigatoriedade a partir de 2019. Para tal foram revisados os aspectos normativos sobre ativos intangíveis que devem ser dispensados ao tratamento dos ativos intangíveis no setor público brasileiro. E os resultados obtidos foram que os maiores desafios a serem enfrentados pelos profissionais do setor público serão: (a) a busca pelo entendimento do conceito e definição do ativo; (b) a análise da incerteza e risco quanto à ocorrência dos benefícios econômicos futuros; (c) a verificação da relevância e confiabilidade da informação contábil; (d) a escolha de uma base de mensuração adequada; (e) a diferenciação entre os gastos com pesquisa e desenvolvimento; (f) a classificação e determinação da vida útil do ativo intangível, e; (g) avaliação de como aplicar estes procedimentos contábeis patrimoniais na área governamental. Tais desafios demandam capacitação dos funcionários, por meio do estudo da teoria contábil, das normas brasileiras e internacionais de contabilidade e das orientações específicas dos órgãos reguladores, e requerem apoio da gestão de cada instituição pública para que o tratamento se dê de acordo com as normativas e de forma efetiva. / Brazilian Public Accounting has undergone a series of modifications in search for normative adequation, including the treatment of intangible assets, since 2004. From the earliest efforts to bring Public Accounting to international standards, with the creation of a specific study group for this purpose, by 2014, the process of implementing changes had not taken place in practice, despite the whole effort of the CFC, STN and Executive Secretariat of the Ministry of Finance. However, in 2015, with the system adequation and the publication of Order No. 548, a schedule was established for the gradual adoption of accounting procedures until 2021.This study aimed to make a series of necessary notes on the accounting treatment of intangible assets in the public sector, given its mandatory start in 2019. The results obtained were that the greatest challenges to be faced by the professionals of the public sector are: (a) the quest for understanding the concept and the definition of the asset; (b) the analysis of the uncertainty and risks regarding the occurrence of future economic benefits; (c) the verification of the relevance and reliability of the accounting information; (d) the choice of an appropriate measurement basis; (e) the differentiation between research and development expenses; (f) the classification and determination on the lifespan of the intangible asset; and (g) evaluation of how to apply these accounting procedures in the government area. These challenges require the training of employees, through the study of the accounting theory, the Brazilian and international accounting standards and specific guidelines of regulatory agencies, and require support of each public institution’s management so that the treatment is effective and in accordance with the regulations.

A partir de 2004, a Contabilidade Pública brasileira está passando por uma série de modificações na busca da adequação normativa, inclusive, para tratamento dos ativos intangíveis. Desde os primeiros esforços para a convergência da Contabilidade Pública com os padrões internacionais, com a criação de um grupo de estudos específico para esta finalidade, até 2014, o processo de implantação das mudanças não havia ocorrido na prática, apesar de todo o esforço do CFC, STN e Secretaria Executiva do Ministério da Fazenda. Porém, em 2015, com a adequação do sistema e a publicação da Portaria nº 548, foi fixado um cronograma para adoção gradual dos procedimentos contábeis patrimoniais até 2021. Este estudo teve como objetivo realizar uma série de apontamentos necessários ao tratamento contábil dos ativos intangíveis no setor público, dada sua obrigatoriedade a partir de 2019. Para tal foram revisados os aspectos normativos sobre ativos intangíveis que devem ser dispensados ao tratamento dos ativos intangíveis no setor público brasileiro. E os resultados obtidos foram que os maiores desafios a serem enfrentados pelos profissionais do setor público serão: (a) a busca pelo entendimento do conceito e definição do ativo; (b) a análise da incerteza e risco quanto à ocorrência dos benefícios econômicos futuros; (c) a verificação da relevância e confiabilidade da informação contábil; (d) a escolha de uma base de mensuração adequada; (e) a diferenciação entre os gastos com pesquisa e desenvolvimento; (f) a classificação e determinação da vida útil do ativo intangível, e; (g) avaliação de como aplicar estes procedimentos contábeis patrimoniais na área governamental. Tais desafios demandam capacitação dos funcionários, por meio do estudo da teoria contábil, das normas brasileiras e internacionais de contabilidade e das orientações específicas dos órgãos reguladores, e requerem apoio da gestão de cada instituição pública para que o tratamento se dê de acordo com as normativas e de forma efetiva. / Brazilian Public Accounting has undergone a series of modifications in search for normative adequation, including the treatment of intangible assets, since 2004. From the earliest efforts to bring Public Accounting to international standards, with the creation of a specific study group for this purpose, by 2014, the process of implementing changes had not taken place in practice, despite the whole effort of the CFC, STN and Executive Secretariat of the Ministry of Finance. However, in 2015, with the system adequation and the publication of Order No. 548, a schedule was established for the gradual adoption of accounting procedures until 2021.This study aimed to make a series of necessary notes on the accounting treatment of intangible assets in the public sector, given its mandatory start in 2019. The results obtained were that the greatest challenges to be faced by the professionals of the public sector are: (a) the quest for understanding the concept and the definition of the asset; (b) the analysis of the uncertainty and risks regarding the occurrence of future economic benefits; (c) the verification of the relevance and reliability of the accounting information; (d) the choice of an appropriate measurement basis; (e) the differentiation between research and development expenses; (f) the classification and determination on the lifespan of the intangible asset; and (g) evaluation of how to apply these accounting procedures in the government area. These challenges require the training of employees, through the study of the accounting theory, the Brazilian and international accounting standards and specific guidelines of regulatory agencies, and require support of each public institution’s management so that the treatment is effective and in accordance with the regulations.

The topic of intangible assets in relation to earnings management has been a debated subject for a long time. Different aspects of intangible assets have been thoroughly examined in relationship to earnings management by scholars over the years whether it’s about goodwill from business acquisition, recognition of intangible assets, timely impairments and so on. The authors found from their literature review that there was a knowledge gap when it came to intangible assets as most studies have focused on one part of the intangible assets and that has usually been goodwill. The theoretical framework consists of different theories which are explained and discussed in how they can relate to and give incentives for engaging with earnings management. This can range from opportunistic managers trying to reach bonus goals to pressure from within the company or from other stakeholders to an intent to reach the market expectations for the company. The purpose for this thesis is to examine the relationship if a larger proportion of intangible assets increases the risk for earnings management. In order to do this the authors will use an economical model to measure accruals earnings management. The connection between intangible assets and earnings management is a well threaded area where most results point towards a positive correlation. However, as far as the authors of this study can see no research has been done in a larger geographical context. This thesis aims to fill the gap of a larger geographical area. This has been done by examining publicly listed firms in the European Union. The European Union was chosen since it was a good opportunity to check this relationship over a larger geographical area and it is also suitable since it is mandatory that all publicly listed firms within the European Union region use the same accounting standard (IFRS) which makes it possible to do comparisons. This research has found evidence for a negative correlation between intangible assets and earnings management, this result is contrary to most other studies and therefore shines a light on a possible bias on the earlier research in this area. It could possibly be an indication of income minimizing and/or income smoothing when viewed through the lens of agency theory since managers viewed from that want to reach a desired result to trigger larger bonuses and promotions for him/herself. Aggressive depreciations of intangible assets and goodwill could be done to reach expected results and trigger higher bonuses. When it comes to the shareholder theory there is a possibility that this thesis does not capture it fully since the goal for the shareholder theory is to maximize the net present value and the closest proxy for that in this thesis is ROA which was shown to have a positive correlation to earnings management but not on a significant level. Positive accounting theory gives weight to the agency theory when it comes to our findings since it states that managers act in their own self-interest and choose accounting methods that allow them to reach those goals. This is a quantitative cross-sectional study consisting of 6373 observations that has been collected over a five-year period (2016-2020) from a financial database (ORBIS). The data has been tested with a standard linear regression analysis and shows significant results.

This thesis induces a theory for the pre-measurement phase of the asset recognition process in the financial reporting domain centred upon the use of the induced artefact-based asset recognition criteria which are applicable to all assets. In common with standard-setting bodies, such as the International Accounting Standards Board (IASB), I adopt a social constructionist stance (Miller, 1994). It is one that is constructed from a process of consultation. I consult in order to, first, explore the accounting asset recognition process from a conceptual point of view and, second, so that my social construction in that regard can be legitimised, for the most part, on the basis of a consensus of those consulted. However, unlike the standard setters‘ regulatory process, my analysis is structured using a grounded theory approach. The target audience comprises those experts who have been and/or who are currently involved in some way with the development of the IASB‘s conceptual framework (CF) project, including IASB board members. Different data collection methods were adopted combing both qualitative and quantitative data. In respect of the qualitative research, I carried out two sets of interviews. The first set was conducted with Canadian Accounting Standards Board members in May 2008 and International Accounting Standard Board members in June, 2008. The second set was conducted with more International Accounting Standard Board members, UK-Accounting Standard Baord members and other experts within the area being studied. These two sets of interviews were useful for determining the preliminary concepts and categories in the open coding and axial coding structure. In respect of the quantitative research, the concepts and categories raised from the first two sets of interviews were then used to construct an on line questionnaire. The questionnaires were emailed to national standard setters in Canada, the USA, Australia, Germany and the United Kingdom. This has been followed up with an interview with UK ASB director to help in finalising the theory saturation and to validate the reliability of the generated theory. The generated theory demonstrates a three-circled set of criteria for the pre-measurement phase of an asset recognition process. The three-circled set of asset recognition criteria presented in this thesis breaks free from the narrow definitional and rule based perspective of accounting epistemology to offer an alternative view based on the recognition of artefacts.

無形資產一向是企業提昇競爭力的重要資產。當企業自行研發無形資產具一定之障礙與風險時，取得無形資產即成為企業併購的主要原因之ㄧ。本研究主要探討併購取得之無形資產與併購公司財務績效之關聯性，選取74家於2001年至2005年發生併購之美國公司為樣本，將股東權益報酬率、資產報酬率和營運現金流量報酬率作為併購公司績效之衡量變數。本研究運用敘述性統計、Pearson相關係數和複迴歸分析來達到本研究之目的。 實證結果顯示，在不包含2005年併購案件的樣本中，併購取得之無形資產與資產報酬率呈現正相關。高科技產業經由併購取得之無形資產與其績效亦呈現正相關；然而對傳統產業而言，併購取得之無形資產與績效並無正向相關。在各類別無形資產方面，併購取得之行銷相關的無形資產與資產報酬率呈現正相關，但是契約基礎的無形資產則與股東權益報酬率呈現負相關。 / Intangible assets are important to companies in improving their competitiveness. As it may be risky to internally develop intangible assets, companies engage in merger activities to acquire intangible assets from outside. This research aims to explore whether intangible assets acquired in mergers and acquisitions are associated with acquirers’ post-acquisition financial performances. The sample consisted of 74 American merger and acquisition cases that took place during the period of 2001 to 2005. The empirical results are as follows. The acquired intangible assets are positively associated with the return on assets for the sample excluding the cases of year 2005. The acquired intangible assets are positively associated with acquirers’ financial performance in the high-tech industry, but not so for the traditional industry. As to different types of intangible assets, the acquired marketing-related intangible assets are also positively associated with the return on assets. On the other hand, the acquired contract-based intangible assets are negatively associated with the return of equity.

Cette étude a pour objectif d'explorer et de mieux comprendre cette communication financière volontaire de sociétés françaises sur l'actf immatériel. Tout d'abord, à travers une analyse de contenu, nous découvrons les thèmes abordés par les entreprises. Nous nous interrogeons également sur l'intensité du contenu quantitatif, qui malheureusement s'avère relativement faible. Ensuite, l'analyse factorielle des correspondances nous permet de constater que les sociétés adaptent leur communication en fonction de leur taille et de leur secteur d'activité. Les grandes sociétés semblent mettre l'accent sur leur réputation et leur position sur le marché tandis que les plus petites soulignent leurs compétences et leur savoir-faire. Par ailleurs, les thèmes de communication restent cohérents avec la nature de l'activité des sociétés. Enfin, dans l'objectif de confronter cette communication avec la perception du marché, nous menons une observation participante au sein d'un bureau d'analystes financiers. Cette dernière étude nous permet de remarquer que les analystes sont effectivement à la recherche de données chiffrées et qu'ils doivent souvent faire face à l'absence de ce type de données. Cependant, ils sont également capables d'intégrer dans leurs analyses les données qualitatives. Mais elles sont intégrées de manière plus intuitive. Une meilleure prise en compte de l'actif immatériel dans les méthodes de mesure permettrait aux entreprise de mieux répondre aux besoins du marché et ainsi d'augmenter la rentabilité des actions de communication financière qui sont souvent coûteuses / The purpose of this study is to explore and to better understand how French companies manage their voluntary communication on intangible assets. First of all, we peform a content analysis in order to discover the most frequent themes of this communication. We also examine the intensity of quantitative data which appears to remain quite limited. The second study is based on a factor analysis. This part of our research finds that companies adapt their communication depending on their market capitalisation and business sector. Big firms underline their reputation and market shares while small companies are more tempted to communicate on their skills and know-how. There is also a coherence between the themes of communication and the nature of company business. Finally, an observant participation performed in a team of financial analysts aims at comparing provided communication with market needs. On the basis of the results of this study, we can confirm that financial analysts are looking for quantitative data. Unfortunately, they are frequently obliged to deal with the absence of this type of information. In the face of this situation, they are able to include qualitative data in their analysis. But this task requires a lot of good intuition. More developed measure methods of intangible assets would let companies more easily meet market informational needs and consequently increase the profitability of financial communication which frequently remains expensive