Diagnostic recognition and disclosure of intangible assets in Colombia against IAS 38

Abstract

At present the implementation of International Financial Reporting Standards is a hot topic in the national accounting context and intangible assets that have gained importance in recent decades are in that frame, so the aim of this article is to review the importance and treatment of these assets in some Colombian companies. We did a classification of intangible assets in the common categories that generally have 15 companies listed on the Stock Exchange of Colombia (BVC), included in the General Index of the Stock Exchange of Colombia (IGBC) and belonging to the sector of non financial services. This article present a reading of the identification, disclosure and importance of reports following an inductive method and a quantitative axis by reading certain features in the selected sample is made. This assessment becomes important because it constitutes a diagnosis of intangible assets in important Colombian companies and concludes that in view of the application of IAS 38 in Colombia shortcomings on recognition are presented and especially revelation, because it is evident that companies despite identifying a value for intangibles are missing in the origin of these assets or concept with which they are associated, plus information about the measurement of wear (amortization) is lacking in some of the categories analyzed.