The Granting of Letters Patent From the Point of View of the International Standards of Financial Reporting
The development of the competitiveness hasn’t been a priority for Romanian companies until the moment of the economical crisis. The difference can be seen in quality, services, innovation, image, knowledge, the approach to information, culture, etc. The companies that manage to differentiate from the others will resist in time and the economic advantage is made through intangible assets. The assessment of the intangible assets is the real description of the company wealth which is very well known to all balance sheet users, because it contains their fair value. Result of the Knowledge Revolution, the intangible assets started to be the most important component in the balance sheets of the companies starting with the post industrial and post modernist period we live in. Being means of production of the highest qualitative level, made through scientific research, creativity and intellectual effort, they have really high values and help the companies to achieve high performances in all their areas of activity: processes quality, products and services, productivity, efficiency, economic profitability, global efficiency.
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