Originally posted by Bad wolfInternational Accounting Standard would forbid you from classifying friendship as an asset, unless of course you took over a company and that friendship was likely to bring you future financial benefits, but you couldn't directly disclose it as an asset if you had just built up the friendship yourself.
I would say that the notion that unless an asset can go on a balance sheet it isn't an asset is rather misguided, you can't put friendship on a balance sheet, but it is still important, to ignore it is foolish.
Accountants will find this funny
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Originally posted by Mad Mac MacMadI am not using assets in the accountancy sense, I am using them in a more general sense that the word's definition allows, which does not preclude the notion of friendship as being an asset; I fail to see why you are thinking otherwise.
International Accounting Standard would forbid you from classifying friendship as an asset, unless of course you took over a company and that friendship was likely to bring you future financial benefits, but you couldn't directly disclose it as an asset if you had just built up the friendship yourself.
Accountants will find this funny
