Accounting is all about tangible assets. But given similar financial resources, these types of assets can be purchased by any company. Tangible assets provide organizations with a basic, off-the-shelf capability or platform for competing against other organizations. Intangible assets such as systems, software, processes, training programs, and research and development (R&D) represent investments that provide future value regardless of accounting reporting convention.
1. Joe Stenzel, Lean Accounting: Best Practices for Sustainable Integration (John Wiley & Sons, 2007), Kindle loc. 2144–48.
There are three reasons why this is the longest chapter in the book: The ability to secure funding is often ...