Financial Reporting for the Knowledge Economy
指出传统会计模型在科技驱动型企业中的不足，提出解决方案，重点讨论将内部开发的无形资产确认入账这一争议性改革，为不熟悉该领域进展的专业人士提供实用见解。
SYNOPSIS The North American corporate landscape is undergoing a $30 trillion transformation amid what many consider the fourth or fifth industrial revolution. Nearly half of the $60 trillion in stock market capitalization at the end of 2024 was driven by companies whose primary assets are intangible. This paper highlights the shortcomings of traditional accounting models when applied to modern, technology-driven firms. I propose several solutions to bridge these gaps, with particular emphasis on the most debated reform: recognizing internally developed intangible assets on the balance sheet. The discussion offers practical insights for professionals who are unfamiliar with recent developments or the ongoing controversy in this area. I also raise several questions that merit further research to enhance the relevance and reliability of financial reporting for contemporary corporations. JEL Classifications: M41.