International Journal For Multidisciplinary Research

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Brand Accounting- a Hard Rock to Drill

Author(s) Goutam Chatterjee
Country India
Abstract This paper delves into brand accounting, emphasizing its distinctiveness from Goodwill and advocating for a separate accounting system. Using the 'Lion Marka' case illustrates how brand valuation, centred on visual elements like logos and names, differs from the broader spectrum of Goodwill. The paper's objectives include:
Developing precise methods for brand quantification.
Integrating brand value into accounting systems.
Providing insights for strategic decision-making.
It highlights the advantages of brand accounting, such as enhanced financial reporting transparency and informed decision-making, while acknowledging challenges like subjectivity and the dynamic nature of brands.
The literature review explores ongoing debates on measuring brand value, its impact on financial reporting, and the role of disclosure. The future of brand accounting anticipates standardization, integration into ESG reporting, and the use of advanced technologies like AI. The significance of brand accounting lies in its ability to enhance transparency, inform decision-making, and contribute to strategic resource allocation. Practical implications encompass risk management, investor relations, brand management strategies, and cross-functional collaboration.
The paper concludes by emphasizing the evolving landscape of brand accounting, its pivotal role in financial reporting, and its integration into contemporary business practices. As stakeholders integrate these insights, brand accounting is poised to be crucial to financial management and decision-making in the dynamic business environment.
Keywords Keywords: Intangible Assets, Goodwill, Generalizability, Brand Valuation Reserve, AI (Artificial intelligence), ESG Reporting.
Field Mathematics > Economy / Commerce
Published In Volume 5, Issue 6, November-December 2023
Published On 2023-12-31
Cite This Brand Accounting- a Hard Rock to Drill - Goutam Chatterjee - IJFMR Volume 5, Issue 6, November-December 2023. DOI 10.36948/ijfmr.2023.v05i06.11506
DOI https://doi.org/10.36948/ijfmr.2023.v05i06.11506
Short DOI https://doi.org/gtbtb8
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