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Description
While financial accounting can accurately measure, verify and attest a company's ability to manage tangible assets and financial capital, this capability diminishes as the proportion of intangible assets in a company increases.
Skandia
is one of the pioneering companies to develop new
forms of communicating its stewardship of the
intangible resources it uses to create long-term
financial success. These resources are its
relationship with its partners, the trust of its
customers, the knowledge of its staff and the
processes it uses to create innovative products and
services while delivering high-quality services.
While
financial accounting can accurately measure, verify
and attest a company's ability to manage tangible
assets and financial capital, this capability
diminishes as the proportion of intangible assets in a
company increases. For companies, like Skandia, where
the main drivers of production are intangible, this
causes a problem for analysts to accurately understand
how well a firm is managing its assets an its
potential to increase these assets and create
long-term value.