There has been little improvement on reporting for intangibles such as brand values, according to findings in the fourth instalment of a brand value survey.
The poll, conducted by Brand Finance, a brand valuation company, revealed analysts strong demands for more brand information to be included in annual reports.
Brand Finance chief executive David Haigh said: ‘A financial picture of reality which excludes many intangible assets, wilfully denies the every day evidence of a changing society where the real wealth creators are often the intangible assets.’
Skania achieved the highest score in the report with a total ranking of 90%. Others in the top 10 included Tesco in sixth position.
The survey found that companies reporting goodwill had improved following the publication of accounting standard FRS10.
In the report’s foreword Haigh said: ‘It is making a mockery of financial accounting in that the users of financial statements are rightly querying the usefulness of financial accounts, particularly where valuable intangible assets go completely unreported.
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