دانلود رایگان مقاله انگلیسی ارزش برند، استانداردهای حسابداری و ادغام و مالکیت: "اثر مریبوند" - اشپرینگر 2017

ABSTRACT

‘‘The Moribund Effect’’ is defined as an accounting phenomenon by which the value of a brand that is acquired, measured, and added to the balance sheet by a company remains unchanged no matter how well the brand might perform for that company over time. We describe accounting conventions for brands in mergers and acquisitions and explain the role of brand value. Our main contention is that the subsequent performance and value of an acquired brand should be reported annually in the Management Discussion and Analysis (MD&A) section of a company’s annual report. If the intangible asset value of the acquired brand has declined, an explanation should be provided to financial markets as to why this occurred. If there is a gain in asset value, it should be announced and explained to those same financial markets. We also review methodological issues in making such calculations, putting some emphasis on understanding the intangible value from brands and trademarks versus customer-related relationships, and we underscore the importance of marketing in guiding and driving these disclosures.

SUMMARY AND CONCLUSION

We conclude by offering some perspectives and conclusions to our analysis. When we wrote our initial paper on the financial interplay of branding and accounting (Sinclair and Keller, 2014), we covered two distinct -- but related -- accounting anomalies:

• The main thrust of the paper was to encourage the accounting standard setters to review the omission that brands which are acquired are identified as assets, but brands which are internally generated are not.

• We also drew attention to the business combination requirement that acquired brands are measured at their transaction value and tested annually for impairment. There is no recognition of the opposite; a gain in value or accretion.

We have since given this phenomenon a name: ‘‘The Moribund Effect.’’ This is the phenomenon under which, no matter how a company performs over time, the value of the brand that was acquired, measured, and added to the balance sheet remains unchanged. It is carried at its transaction value. Any relationship it might have to enterprise wealth (e.g., as a contributor to the market premium), or any gain in absolute terms, is hidden from view.