Intangible investment

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Intangible investments ( English intangible investment ) are in the business administration investments in non-physical assets . In contrast are the investments in property .

General

With regard to the type of investment object, there are tangible, financial and intangible investments. The latter belong to the (intangible) Real estates and make strategic investments usually are because investing companies thereof competitive advantages and thus the medium term higher revenues and profits promise. Like the other types of investment , they were created through capital expenditure . Intangible investments cause imputed depreciation so that the expenses can be recovered through the sales process and imputed interest to meet the entrepreneur's expected return . The importance of intangible investments has increased considerably as they are also related to the research-intensive activities of companies.

species

Intangible investments include concessions , licenses , patents , industrial property rights , brands , goodwill acquired against payment , research and development, and knowledge . Expenditures for training and further education of employees in the context of human resources are also considered to be intangible investments, but the subsequent returns cannot be measured. This is different with research and development, as the research and development costs incurred later flow partly into the cost of the products , which contribute to a measurable increase in sales. At times, advertising and public relations expenses are also counted as intangible investments.

The OECD tries to concretize the concept of immaterial investment through four categories:

  • ( English intangible investment technology ): research and development, patents, licenses, rights and product development,
  • ( English enabling intangible investment ): Education and training, organizational development, knowledge transfer,
  • Market and
  • Software .

Accounting

For many intangible investments there are as yet no valuation standards , as there is usually no market and market prices for them . With a few exceptions, the creation of intangible assets is not considered an investment in the balance sheet . Intangible investments that can be capitalized are, according to Section 266 (2) no. AI HGB as “self-created industrial property rights and similar rights and values”, “concessions acquired against payment , industrial property rights and similar rights and values ​​as well as licenses to such rights and values”, “goodwill” and advance payments made thereon on the assets side of the To show the balance sheet. In addition to property rights, only acquired intangible investments may be accounted for. If research and development can be reliably distinguished from one another, only development costs can be capitalized ( Section 255 (2a) sentence 1 HGB). This corresponds internationally to IAS 38.52 ff. And IAS 38.7, according to which research costs may not be capitalized (IAS 38.54 f.). However, if development costs lead to products that are ready for the market , they can be distinguished from other development costs and if they generate future excess payments, they may be capitalized (IAS 38.57).

literature

  • Kurt Matzler (Ed.), Intangible Assets: Handbook of intangible Assets , 2006, Erich Schmidt Verlag, Berlin, ISBN 3503090754

Individual evidence

  1. ↑ Klaus Mentzel, BWL für Managers , 2006, p. 83
  2. ↑ Gabler Wirtschaftslexikon, Volume 3, 1983, Col. 2104
  3. ↑ Klaus Mentzel, BWL für Managers, 2006, p. 83
  4. ^ Sascha Paustian / Marco Gries, Das Buch zum Technischen Betriebswirt IHK , 2014, p. 171
  5. ↑ OECD, Technology and the Economy , 1992, p. 114 f.
  6. ↑ Klaus Mentzel, BWL für Managers , 2006, p. 92
  7. ↑ Kurt Matzler (Ed.), Intangible Assets: Handbook of intangible Assets , 2006, p. 10
  8. ↑ Ralf Dillerup / Roman Stoi, Unternehmensführung , 2013, p. 860