Sabri Oncu wrote:
The national income accounts don't concern themselves with assets, tangible or intangible - just current production and income.This is interesting. As far as I know the US is one of the few countries in which financial accounting and tax accounting are separate. As the argument goes, the IRS reports suffer from that they are extremely conservative and almost always backward looking. Moreover, the IRS accounting does not contain much information on the intangible assets, if any.
Doug
