Intangible assets as an object of evaluation. Rules for estimating the value of intangible assets (initial and balance sheet) - methods and approaches

Valuation of intangible assets(intangible assets appraisal) - determination of the value of the volume of the enterprise's rights to a certain group of objects that do not have material content and bring to the enterprise during the period specified by national legislation.

In accordance with the norms of international law, objects of civil rights include not only movable and immovable property (including other property that has a material-natural form), but also rights to the results of intellectual activity (intellectual property, etc.). The rights to the results of intellectual activity provide their owners with certain privileges and, as a rule, create some kind of interest for them. In international practice, when using these rights in production activities, enterprises use the concept of "intangible assets" (intangible assets).

The cost of intangible assets is repaid by depreciation over the established period of their useful life. At the same time, they are determined either in a linear way, based on the norms calculated by the organization on the basis of the useful life of intangible assets, or by writing off the value of intangible assets proportional to the value of the volume of products (works, services).

There are a number of objects that are not depreciated in the course of their practical application. These include:

• organizational expenses;
• trademarks and service marks;
• intangible assets received under a donation agreement or free of charge as a result of privatization;
• intangible assets acquired at the expense of budgetary funds;
• intangible assets of budget organizations.

In the economic activity of enterprises, market, sale, contractual, investment, liquidation and other types of value of intangible assets are also used.

The choice of value type depends on the purpose of the valuation. To assess the value of intangible assets, the approaches adopted in international practice are used: , and . Each of the approaches, in connection with the objectives of the valuation, the specifics of intangible assets and the conditions for their use, has specific valuation methods.

At comparative approach apply the method of direct comparison of sales, which involves determining the value of an intangible asset at the price of purchase and sale transactions of similar intangible assets, taking into account the difference in the characteristics of analogue assets and the asset being valued, and the method that takes into account royalty rates widely used in international licensed trade for certain industries and product range.

At income approach the value of an intangible asset is defined as their ability to bring income to the buyer or investor in the future. The calculation of net income from the use of an intangible asset can be carried out:

• profit advantage method (when profit increases due to the growth of quality and (or) quantity of products);
• the cost advantage method (including the royalty exemption method and the cost benefit method);
• method of simultaneously accounting for benefits in profits and costs.

In each of these methods, the annual future incomes are summed up taking into account them.

The business reputation of an enterprise is assessed using an accounting method, in which the value of goodwill is understood as the excess value of the enterprise as a whole in excess of the total value of the components of identifiable assets or the difference between the value of the company as a single integral property and financial complex

In addition, the results of the assessment of intangible assets are needed to analyze the current state of the enterprise, improve the efficiency of the use of its assets, and develop a general strategy for the development of the enterprise.

How is the valuation of intangible assets carried out using an example? What are the features of the assessment of intangible assets acquired for a fee? Where to order an assessment of intellectual property and intangible assets?

Welcome to HeatherBober Magazine! Olga Vovk is in touch.

The property of the company is not only buildings, equipment, goods and raw materials. There are assets that cannot be touched - they do not have a material embodiment, but at the same time they are used in the activities of the enterprise and bring financial benefits to the owner.

The value of such property is often a significant part of the total price of assets, and in many situations it is necessary to calculate it. In order not to overpay and at the same time get a high-quality assessment result, the customer should know the basic rules for this procedure.

The valuation of intangible assets (IA) is in many ways similar to the valuation of property, but has a number of features. In the new article, we provide step-by-step instructions for determining the value of intellectual resources, as well as useful recommendations for conducting an assessment.

1. What is an assessment of intangible assets and when may it be needed?

The rapid development of high technologies in recent decades has led to the fact that the effective operation of enterprises in many industries has become impossible without the use of a variety of intangible assets. Otherwise, such firms simply cannot withstand huge competition and receive less than expected profits.

Intangible assets are the property of a company having no real physical embodiment. At the same time, it, by analogy with fixed assets, has a period of use of at least 1 year, is used in commercial activities and directly participates in the formation of the enterprise's profit.

All intangible assets can be divided into 4 groups:

• Goodwill(company price, business reputation);
• Embedded costs(payment for consultations when creating an enterprise, etc.);
• Property rights– lease, license for natural resources;
• Intellectual property– patents, licenses, know-how and much more.

Example

An enterprise trademark is one of the most common types of intellectual property. For a long-standing and successful company, the cost of a trademark is higher than the price of fixed assets. However, to put it on the balance sheet, a special procedure is required - an assessment.

Valuation of intangible assets is the determination of the market value and value of an asset using a variety of technical, statistical, mathematical and other methods. It includes a professional examination of the objects themselves, the rights to their use and security documents.

Read about the rules by which it is carried out in our related article.

The chosen valuation method directly depends on the type of intangible asset. However, in any case, the appraisal company will adhere to the rules set forth in the federal standard FSO-11, which regulates the examination of intangible assets.

An assessment is required in the following cases:

• when using objects of intellectual property as a contribution to the authorized capital;
• when determining damage from unauthorized use of intangible assets by third parties;
• to enter assets on the balance sheet of the enterprise;
• to optimize taxation - intangible assets on the balance sheet are subject to depreciation, which means they reduce the income tax base;
• when lending or attracting investments - to increase the value of the authorized capital and improve the structure of the balance sheet;
• when it is carried out (read about this in a separate article) - goodwill is a significant part of the price of the enterprise.

Like any other property, intangible assets have different types of value - replacement, insurance, market, investment, collateral - depending on the purpose of the assessment. One of the key types of cost is the initial one, that is, the one at which the asset will be put on the balance sheet after receipt.

Methods for determining the initial value of assets:

Valuation of intangible assets is carried out according to the same principles as determining the value of fixed assets, real estate, etc. It uses three fundamental approaches: comparative, costly and profitable.

2. What approaches are used in the valuation of intangible assets - 3 main approaches

The valuation of intangible assets is a rather complicated procedure, requiring high professionalism of the performer.

The main difficulties lie in the lack of a physical form of the object, and also often in the inability to clearly classify it.

Consider the essence of the main approaches to evaluation.

Approach 1. Comparative

The valuation is based on the value of similar assets. In case of discrepancies in qualitative characteristics, special coefficients are used.

The method is not always applicable, because it can be difficult to find similar intangible assets on the market.

Approach 2. costly

The value of an asset is based on the actual cost of creating or acquiring it. Difficult to use in cases where the object is inseparable from others. At the same time, the assessment of intangible assets acquired for a fee is carried out mainly by the methods of the cost approach.

Approach 3. Profitable

Considers the value of the object as an increase in the income that the company received from the use of intangible assets. In this case, the estimate may be relatively inaccurate, since factor analysis is used.

Example

If we consider the valuation of intangible assets using the example of a trademark, it is easy to see that not all types of valuations are suitable. The comparative approach does not "work", as it is difficult to find analogues in free sale.

The cost approach does not give an accurate picture, because the real value of a trademark is formed much later and sometimes exceeds the cost of its creation. The income approach is considered optimal, and if it is impossible to use it, the appraiser bases conclusions on the cost approach.

4. Where to appraise intangible assets - an overview of the TOP-3 appraisal companies

The valuation of intellectual property and other intangible assets is a rather complicated procedure, requiring the highest qualifications and in-depth knowledge from an expert. In order to avoid problems with the quality of the expertise, the business owner needs to carefully approach the choice of an appraisal company.

Even in a small town, you can find dozens of firms offering independent expertise of trademarks, patents, and other intangible assets. In order not to lose money and time, contact only experts with an impeccable business reputation.

1) KSK groups

The company has been operating in the appraisal business for over 20 years and employs 30 specialists. The firm conducts an examination of intangible assets of any kind (know-how, goodwill, copyright, R&D, etc.). Underway (read a separate article on this topic) and more traditional objects - fixed assets, real estate. All employees of the company are specialists with extensive practical experience. Their professional liability is insured.

2) Atlant Grade

One of the largest companies in the industry, operating since 2001.

An examination of any complexity and focus is carried out, including professional (we recommend that you read our article on this topic), examination of contracts, copyrights, evaluation of banks, securities, etc.

3) Progress Evaluation

A company that specializes in real estate, securities and business valuation. Experts have extensive experience and high qualifications, allowing them to carry out the most complex and time-consuming types of work, including the valuation of intangible assets.

When choosing an appraisal company, pay attention not only to the cost of services, but also to other important factors: term of work, portfolio of completed projects, positive reviews, participation in professional communities, place in various ratings.

By choosing a reputable company, you will protect yourself from unnecessary expenses, and the report will be prepared on time. Such a report will not require adjustments and will most likely be accepted by banks, notaries and investment companies.

Read about what features it has in a separate article on our website.

5. How to save money on the valuation of intangible assets - 3 useful tips

Independent expertise, including the assessment of intangible assets, is never cheap. In essence, you are paying for several days (or even weeks) of work by a professional appraiser. Preparation of the report requires high qualifications, constant and rather costly retraining, and obtaining certificates.

That is why you should not save money by contacting companies that offer an assessment at low prices. With a high degree of probability, the quality of expertise in such institutions will also be low.

But you can still reduce costs if you use our recommendations.

It is not uncommon for a court, bank or investor not to accept a report from an independent appraiser, motivating the refusal by the presence of significant errors in the document. As a result, the customer has to pay for the expertise a second time.

To avoid unpleasant situations of this kind, contact companies with an impeccable reputation and a large number of customers.

Tip 2. Get a free consultation

Many appraisers offer a service such as an initial consultation for free. Using this service, the client receives comprehensive information about the course of the examination, recommendations on ordering the service, and answers to questions of interest.

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Appendix N 3 to the Order of the Ministry of Finance of Russia N 66n provides an example of registration of explanations to the balance sheet and income statement. In this example, sect. 1 "Intangible assets and expenses for research, development and technological work (R&D)" includes subsection 1.5 "Pending and unregistered R&D and pending acquisitions of intangible assets". At the same time, in sect. I of the new form of the balance sheet does not have a separate line to reflect the organization's unfinished capital investments. Nevertheless, we believe that the organization's investments in intangible assets that do not meet the requirements of paragraph 3 of PBU 14/2007 should not participate in the formation of the indicator lines 1110"Intangible assets". These investments, in our opinion, can be reflected in line 1170 "Other non-current assets".

What is included in intangible assets

Intangible assets may include:
- works of science, literature and art;
- objects of related rights (performances, phonograms, etc.);
- programs for electronic computers and databases;
- inventions;
- useful models;
- selection achievements;
- production secrets (know-how);
- trademarks and service marks;
- other protected results of intellectual property and means of individualization listed in paragraph 1 of Art. 1225 of the Civil Code of the Russian Federation.
An object is accepted for accounting as an intangible asset if the following are fulfilled: terms:
a) the entity is capable of delivering economic benefits to the entity in the future.
This condition is met if the object is intended for use in the production of products, in the performance of work or the provision of services, for the management needs of the organization;
b) the organization exercises control over the object.
That is, the organization has security or other documents confirming the existence of the asset itself and the exclusive rights of the organization to it. Such documents are, in particular, patents, certificates, an agreement on the alienation of the exclusive right to the result of intellectual activity or to a means of individualization;
c) it is possible to isolate or separate (identify) the object from other assets;
d) the object is intended to be used for a long time.
Long is the useful life of more than 12 months or the normal operating cycle if it exceeds 12 months;
e) the entity does not intend to sell the property within 12 months or the normal operating cycle if it exceeds 12 months;
f) the actual (initial) cost of the object can be reliably determined;
g) the object has no material-material form.
The composition of intangible assets also takes into account a positive business reputation that arose upon the acquisition of an enterprise as a property complex (in whole or in part) (clauses 3, 4 of the Accounting Regulation "Accounting for Intangible Assets" (PBU 14/2007), approved by Order of the Ministry of Finance Russia dated December 27, 2007 N 153n).

Attention!
Objects of intellectual property in respect of which the organization does not have an exclusive property right are not included in the composition of intangible assets. Their cost is reflected on account 97 "Deferred expenses" (paragraph 2, clause 39 of PBU 14/2007). In particular, copies of computer programs and databases used on the basis of license agreements with copyright holders are not intangible assets.

At what cost are intangible assets recorded in accounting

Intangible assets are accepted for accounting to account 04 "Intangible assets" at the actual (initial) cost, which is determined in the manner prescribed by paragraphs 7 - 15 of PBU 14/2007. The cost of intangible assets (with the exception of intangible assets with an indefinite useful life) is repaid through depreciation, which is accounted for on account 05 "Depreciation of intangible assets" (clauses 6, 23 PBU 14/2007, Instructions for the application of the Chart of Accounts). During the useful life of intangible assets, the accrual of depreciation charges is not suspended (paragraph 2, clause 31 of PBU 14/2007).

Attention!
For intangible assets accepted for accounting before 01/01/2008, depreciation deductions could be reflected by reducing the initial cost of the object reflected on account 04 (clause 21, paragraph 2 clause 29 of the Accounting Regulation "Accounting for intangible assets" PBU 14 / 2000, approved by the Order of the Ministry of Finance of Russia dated October 16, 2000 N 91n, Instructions for the use of the Chart of Accounts).

Actual (initial) cost Intangible assets may change in cases of their revaluation or depreciation.
A commercial organization may annually revalue intangible assets at the current market value, determined solely on the basis of the data of the active market of these intangible assets. Revaluation of intangible assets is carried out by recalculating their residual value (clauses 16, 17, 19 of PBU 14/2007).

Attention!
Since 2011, revaluation of intangible assets has been carried out at the end of the reporting year. As before, the amount of the revaluation of the intangible asset as a result of the revaluation is credited to the additional capital of the organization. However, now if in previous reporting periods an intangible asset was discounted and the amount of the markdown was charged to the financial result as other expenses (before 01/01/2011 - to the account of retained earnings), then the amount of revaluation of the intangible asset equal to the amount of its markdown is credited to the financial result in as other income (and not to the account of retained earnings, as it was before).
The amount of depreciation of an intangible asset as a result of revaluation since 2011 is included in the financial result as other expenses (and not in the account of retained earnings, as it was before). If in previous reporting periods an intangible asset was revalued and the amount of the revaluation was included in the additional capital of the organization, then the amount of the markdown of the intangible asset is attributed to the reduction of additional capital, and the excess of the amount of the depreciation of the intangible asset over the amount of its revaluation credited to the additional capital is attributed to the financial result in as other expenses.
Until 01/01/2011, the old version of clause 20 of PBU 14/2007 is in effect, according to which the results of the revaluation of intangible assets carried out as of 01/01/2011 are not included in the financial statements for 2010 and are accepted when forming opening balances on accounts 04, 05 , 83, 84 as of 01/01/2011.

In addition, intangible assets can be tested for impairment in the manner prescribed by International Financial Reporting Standards (clause 22 of PBU 14/2007).
In cases of revision of the useful life or method of calculating the depreciation of intangible assets, adjustments are made, which are reflected as changes in estimated values ​​(i.e., in the amount of accrued depreciation) (clauses 27, 30 PBU 14/2007). Recall that changes in estimated values ​​are subject to the Accounting Regulation "Changes in estimated values" (PBU 21/2008), approved by Order of the Ministry of Finance of Russia dated 06.10.2008 N 106n.

What accounting data is used when filling out line 1110 "Intangible assets"

This line of the balance sheet indicates residual value Intangible assets of an organization (clause 35 PBU 4/99, Letter of the Ministry of Finance of Russia dated 01/30/2006 N 07-05-06/16). The residual value of intangible assets is determined as the difference between the balance of accounts 04 and 05 (including revaluation and impairment).

Attention!
Property in accounting is classified at the time of its recognition, based on the compliance with the established criteria for the types of assets. Therefore, information about intangible assets with a remaining useful life of 12 months or less as of the reporting date cannot be disclosed in Sec. II "Current assets" and should be included in section. I of the Balance Sheet (Letter of the Ministry of Finance of Russia of December 19, 2006 N 07-05-06 / 302).

Attention!
If the organization on account 04 also takes into account expenses for completed R&D, the results of which are not subject to legal protection, then the amount of such expenses must be excluded from the balance of account 04.

Line 1110 "Intangible assets" of the balance sheet = Debit balance on account 04 (excluding R&D expenses) - Credit balance on account 05

In general, the indicators of line 1110 "Intangible assets" as of December 31 of the previous year and December 31 of the year preceding the previous one are transferred from the balance sheet for the previous year.
If an organization annually revaluates intangible assets, then when compiling financial statements for the reporting periods of 2011, in order to ensure comparability of reporting data, it must adjust the comparative indicators for the revaluation amounts in such a way as if revaluations were not made as of 01/01/2011 and 01/01/01 .2010, and at the end of 2010 and 2009 respectively. These adjustments are due to the fact that a change in the regulatory legal act on accounting (in particular, PBU 14/2007) entails a change in the accounting policy of the organization. Order of the Ministry of Finance of Russia N 186n, which amended PBU 14/2007, did not establish a special procedure for reflecting in accounting and reporting the consequences of changes related to the new rules for the revaluation of intangible assets. Therefore, in this case, the consequences of a change in accounting policies are reflected in the financial statements retrospectively (clauses 10, 14, 15 PBU 1/2008).
Thus, in the columns "As of December 31, 2010" and "As of December 31, 2009" the residual value of intangible assets is indicated as of 01.01.2011 and 01.01.2010, respectively, i.е. taking into account revaluations carried out as of those dates.

Valuation of intangible assets can be considered as a comprehensive assessment of the company's fixed assets, including intangible, capital assets and an assessment of the capitalization of the enterprise as a whole.

Assets, both tangible and intangible, have a specific value and market value. It is important to clearly understand all the factors that affect the capitalization of the company.

In the context of the country's transition to an innovative path of development, the role of the institution of intellectual property (IP) is growing, which should contribute to the production of high-tech, competitive products that ensure high rates of development and structural transformations in the economy.

The process of creation and use of intellectual property requires effective management through the development of an integrated system for the identification, registration and management of IP objects.

Currently, every organization that invests in the creation of new products and objects, engaged in innovative development, needs to create an intellectual property management system.

Intangible assets may be recognized as assets with a useful life exceeding 12 months, the value of which can be measured with sufficient accuracy. Assets must have features that distinguish this object from others, including similar ones. Intangible assets do not have a physical form, they can be used in the activities of the organization, they can bring economic benefits to the organization.

There are three criteria for measuring the value of intangible assets, succinctly formulated by the American economist Leonard Nakamura:

• as a financial result from investments in R&D, software, company brand promotion, etc.;
• as costs for the creation and development of the results of intellectual activity, the purchase of licenses, etc.;
• in terms of operating profit growth through the use of intangible assets.

Methods for valuation of intangible assets

The allocation of intangible assets to an independent accounting object implies the mandatory resolution of questions about their assessment. According to IFRS (IAS 38 “Intangible Assets”), three well-known approaches can be applied to the valuation of intangible assets, as well as to the valuation of any asset:

Comparative (market) approach

This approach is based on the idea that a rational investor or buyer will not pay for a specific object of intangible assets more than the amount that it would cost him to acquire another object of intangible assets with comparable utility (comparable quality). The comparative (market) approach to the valuation of intangible assets involves determining the value of an intangible asset received by an organization based on the price at which similar intangible assets are acquired in comparative circumstances.

If, when evaluating an object of intangible assets, it is possible to find a sufficient number of analogues, the value of its value obtained using this approach will be the most accurate in comparison with the values ​​determined by other approaches, i.e. will have minimal error. This is the main advantage of the comparative (market) approach.

However, the application of a comparative (market) approach to the valuation of intangible assets is difficult due to the fact that such objects are practically unique. There are objects, such as patents, trademarks or rights to works of art, for which it is simply impossible to find analogues. In addition, intangible assets are most often sold as part of a business, their separate sale is quite rare.

Cost approach

When applying the cost approach, the value of an object of intangible assets is determined based on the amount of costs for its creation or acquisition. The main advantage of the cost approach is the ease of obtaining initial data for calculating the value of intangible assets, in addition, all costs can be documented.

It should be noted that at present, in accordance with the Russian Accounting Regulations (PBU), intangible assets are accepted for accounting at their actual (initial) cost, calculated on the basis of the cost approach. According to International Financial Reporting Standards (IFRS), this type of assessment is called cost.

The procedure for calculating the actual (initial) cost of intangible assets depends on the way they enter the organization. As you know, intangible assets can enter the organization in various ways. Among them are the following:

• purchase for a fee;
• creation within the organization;
• exchange for other property;
• free receipt;
• contribution as a contribution to the authorized capital;
• privatization of state and municipal property.

One of the disadvantages of the cost approach is the discrepancy between the costs of the present time and their value in the future. Existing methods for assessing intangible assets within the cost approach do not fully take into account the inflationary change in the purchasing power of money, as well as the ability of money to generate income, provided that they are reasonably invested in alternative projects.

income approach

Unlike the cost approach, the income approach allows you to evaluate the possible economic benefits that intangible assets can bring. In foreign practice, such benefits are commonly referred to as fair value.

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (IFRS 13 Fair Value Measurement).

In the economic literature, the issue of using fair value in domestic accounting practice as a type of assessment of accounting objects is currently the subject of discussion. The arguments in favor of fair value accounting are that fair value provides a more objective basis for estimating future cash flows than the cost method, provides a basis for comparability of information about assets, is best aligned with active management principles, and contributes to a more objective measurement of results. management work.

One of the main disadvantages of fair value accounting is the significant difficulty in determining fair value in the absence of an active market. They entail another negative point associated with the use of fair value - high labor intensity and large additional costs caused by the need to attract professional appraisers.

Economists consider the impossibility of documentary confirmation of this assessment in many cases and the likelihood of manipulations with estimates, which will not allow accounting to perform one of its main functions - control, to be a significant drawback of assessing assets at fair value. As you know, the control function of accounting is performed only when reflecting the fait accompli of the economic activity of the organization. In addition, accounting information is legally valid if it is confirmed by relevant documents.

It seems that fair value can be applied in domestic practice, but not in current accounting, but when disclosing information in explanations to the main forms of financial statements. The information provided in the explanations does not have to be formed on the accounts of accounting, it can be determined by calculation. Therefore, it is possible to evaluate objects of intangible assets at fair value determined on the basis of the income approach for the purposes of disclosing information about them in the financial statements.

A problematic issue that arises when assessing an organization's assets at fair value is the choice of an indicator that most accurately reflects this value.

There are many approaches to determining fair value and, consequently, indicators reflecting it. For example, fair value may be expressed, under certain conditions, as market value, depreciated replacement cost, present value, and other types of values. In foreign practice, most often the best indicator of the fair value of an asset is its market value. However, these concepts are not aligned.

Market value fully corresponds to the concept of fair value only in an active market, i.e. a market in which prices are determined by supply and demand, transactions are made fairly often, without coercion, and the parties involved are independent of each other. Due to the specifics of intangible assets, there is practically no active market for them.

As already noted, one of the indicators of fair value can be present value. Using the discount method to determine the fair value of an entity's assets has a number of advantages.

First, the discounting method allows you to overcome fairness only at the time of the transaction. Second, it takes into account the usefulness of the asset in terms of the future economic benefits associated with owning the asset. Thirdly, the present value is less subject to fluctuations in market conditions, since it is based on factors that most fully take into account the possible characteristics of assets: cash flows generated by assets over time and all kinds of risks.

Cost of intangible assets

Today there is no data on the value of intellectual property objects, and the stock market is underdeveloped. Therefore, among the methods listed above, it is necessary to highlight the costly one. It allows you to study the cost of each component of an intangible asset, and then, by summing up, determine its final price.

The procedure for assessing intellectual property objects includes several stages. First, the structure of intangible assets is analyzed, its components are determined. Then, the elements are individually evaluated and the most appropriate method for the analysis of the constituent parts is selected, calculations are made.

At the third stage, the degree of wear of the components of the IS object is investigated. Depreciation in this case means a loss of utility and, accordingly, value. Thus, the evaluation of a patent takes into account obsolescence associated with the emergence of new, improved analogues of a patented invention.

At the end, the residual value of all parts of the intellectual property object is calculated and its total assessment is made. The residual value of an intangible asset can be calculated by subtracting the accumulated depreciation from its cost.

Having carried out assessment of the market value of intangible assets and other results of intellectual activity, the following tasks can be solved:

1. increase in the capitalization of the company;
2. allocation of additional assets with independent commercial interest;
3. assessment of the amount of material damage in case of illegal use of intangible assets by third parties.

Intelligence and energy

Valuation of intangible assets is of great importance for companies doing business in any high-tech industry, such as energy. In the face of fierce competition in this industry, only the unique nature of the intellectual property of an enterprise can provide sufficiently strong and high barriers in the long term. This will allow to receive stable income in the market from the exclusive use of new technologies or the sale of patents and licenses.

The main problems of domestic companies operating in the energy market is the lack of a regulatory framework that confirms the development, creation and use of intellectual property. The management of intellectual property of domestic energy enterprises, as a rule, is carried out by specialists who do not own the mechanisms of legal regulation to protect against unfair competition.

The creation of an effective system for managing the intellectual property of an enterprise can reduce innovation risks and facilitate the process of bringing innovative technologies to the energy market.

Of course, if an organization is well known and has already established a reputation for long-term existence in the market, the value of intellectual property can be a significant proportion of its total value.

However, we have to admit that the value of intellectual property objects is quite often underestimated in the practice of Russian business. Meanwhile, the skillful use of information about the real value of intangible assets can significantly strengthen the position in the market for a company of any size.

Features of valuation of intangible assets

The complexity of assessing intangible assets is primarily due to the complexity of quantifying the results of the commercial use of these assets that are at one stage or another of development, industrial development or use, due to the influence of a number of multidirectional factors.

Here we review methods for valuing intellectual property and discuss full ownership of it. But in practice, it is much more often necessary to determine the cost of individual parts of property rights to use intellectual property objects, and there is a specific task of estimating the cost of several license agreements.

The experience of Western countries shows that the method of standard royalty rates, such as the rate for the use of an IP object, can be used to assess the value of such contracts. The amount of the rate is calculated depending on the profitability of using this object, as well as on the period of use of the intellectual property object, production volumes, costs of its creation, as well as a number of other factors. Basically, license rates are determined as a percentage of the price of a unit of products produced through the use of an IP object, from net income or from the amount of sales of patented products.

Economic effect

When assessing intellectual property objects, the most difficult task is to determine the economic effect from the use of an intangible asset. An important task is to determine the share of net income received specifically from the use of the asset being valued, for which factor analysis is usually used. For example, the use of the invention makes it possible to obtain a net income by reducing the cost of production, increase the cost of products by improving its quality, increase sales, and reduce income tax.

A serious difficulty in determining the value of intangible assets is that their introduction into production requires investments. Part of the net income from the implementation of the investment project is the income from the use of the IP object. In this regard, it is necessary to first develop an investment project, draw up a business plan in which to calculate the expected net annual income. Then - allocate that part of the income that can be attributed to the intangible asset used.

At the same time, the share coefficient is calculated taking into account the savings factor, and the use of some inventions makes it possible to reduce the amount of income tax.

At valuation of intangible assets an increased premium is determined for the risk, since investments in these assets are highly risky. The use of intangible assets in the economic turnover of the company allows you to optimize the income tax. But first it is necessary to conduct a competent assessment of the value of intangible assets, they must be put on the balance sheet of the company as IP objects.

Valuation of a company's intangible assets is a determination of the value of five main types of intellectual property: copyright, trade secret, industrial property, goodwill, and other (non-traditional) types of intellectual property.

When assessing the value of IP objects, it is necessary to take into account the objects that are accounted for and not accounted for in the balance sheet of the enterprise. For example, goodwill (goodwill) is not taken into account in the company's balance sheet. But this intangible asset must be taken into account when assessing the value of the business, since in some cases it can have a significant impact on the capitalization of the company.

Future Benefits

The traditional system of accounting for intangible assets and intellectual property in a company proceeds in the same way as accounting for tangible assets. This leads to the fact that cash flows and profit flows, built according to accounting data, distort the true value of intangible assets and the capitalization of the company. The cost of intangible assets plays an important role in determining the total value of the enterprise.

To create a full-fledged IP management system in an organization, it is necessary to bring the legal and regulatory framework of the enterprise into line with the legislation of the Russian Federation in terms of accounting for intangible assets.

Intellectual property can bring significant economic benefits to a company in the future, for example, in the provision of services, in production, for management purposes or in business activities.

Thus, the organization has the right to receive those economic benefits that intangible assets will bring to it in the future, if it has properly executed documents confirming the existence of the asset itself and the right to it, and also has control over IP objects.

Effective management of intangible assets and their involvement in turnover is one of the conditions for increasing the competitiveness of an enterprise. Therefore, it is important to consider intellectual property not only from the point of view of its protection, but also from the point of view of assessing its practical market value.

Intangible assets in accounting are objects of intellectual property that meet certain conditions for recognition, as well as a positive business reputation arising from the acquisition of an enterprise as a property complex (clauses 3, 4 PBU 14/2007).

How is the accounting of intangible assets

Speaking about intangible assets according to accounting data, we can say that intangible assets in accounting are the debit balance on account 04 “Intangible assets” (Order of the Ministry of Finance dated October 31, 2000 No. 94n). This is the value of the original or replacement (in case of revaluation) cost. Recall that the initial cost of intangible assets when accepting assets for accounting is reflected in the following accounting entry:

Account 04 debit - Account 08 credit "Investments in non-current assets"

What is intangible assets in accounting by examples? These can be computer programs, utility models, trade names and trademarks, know-how, etc.

It is important to remember that checking objects for compliance with the conditions for recognition of intangible assets is extremely important from the point of view of accounting. This is especially evident in the example of accounting programs. They are not counted as intangible assets because the organization does not have exclusive rights to them. But control over intangible assets (the presence of rights and restrictions of other persons to an asset) is a mandatory criterion for recognizing objects as intangible assets (clause 3 PBU 14/2007).

Recall that the remaining conditions for recognizing assets as intangible include:

• the object is capable of bringing economic benefits to the organization in the future;
• it is intended for use over a period of more than 12 months;
• the organization does not intend to sell the object within 12 months;
• the initial cost of the object can be reliably determined;
• possibility of object identification;
• the absence of an object of a material-material form.

We talked in more detail about the synthetic and analytical accounting of intangible assets in a separate one.

Intangible assets on the balance sheet are

Intangible assets are reflected in the balance sheet in Section I "Non-current assets" in line 1110 "Intangible assets" (Order of the Ministry of Finance dated 02.07.2010 No. 66n).

What is included in intangible assets on the balance sheet? Recall that the balance sheet is formed in the net estimate, i.e. minus the regulatory values ​​(clause 35 PBU 4/99). Depreciation also belongs to such control values. Therefore, for intangible assets, the balance line 1110 is arithmetically determined as follows:

Line 1110 = Debit balance of account 04 - Credit balance of account 05 "Depreciation of intangible assets"

This means that intangible assets are reflected in the balance sheet at their residual value.

There is also line 1130 “Intangible prospecting assets” in the balance sheet. But the assets reflected here do not belong to intangible from the point of view of PBU 14/2007, their accounting is carried out in accordance with