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1 Overview
Pages 1-9

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From page 1...
... At the moment, there is also no coordinated national strategy for promoting intangible investments, apart perhaps from R&D. Research on the role of R&D investments -- specifically that supported by the Bureau of Economic Analysis (BEA)
From page 2...
... Citing research by BEA and the Federal Reserve Board, he emphasized the point that R&D, and intangible assets more broadly, significantly affect worker productivity, GDP growth, and, in turn, the economic well-being of the nation's individuals and families. He challenged the workshop's participants to continue work to measure these economic factors as accurately as possible so that Congress and other leaders will be adequately informed to enact the right policy incentives -- with regard to creating parity in tax incentives between tan gible and intangible output and to appropriate funds for the right mix of basic and applied research -- for today's knowledge-based economy.
From page 3...
... In the process, he identified several questions of concern for policy makers, business executives, and academics in the United Kingdom. Like Corrado, he concluded that including intangibles as investments makes a significant difference in measured economic activity and growth, although the patterns of intangible investment and sources of productivity growth are somewhat different from those detected for the United States; in addition, he reported high levels of interest, in both the measurement and the policy communities, in constructing an innovation index for the United Kingdom.
From page 4...
...  INTANGIBLE ASSETS BOX 1-1 Keynote Address: Importance of Intangible Investments to Congress The workshop's keynote address was delivered by Senator Jeff Bingaman of New Mexico. Senator Bingaman, one of Congress's members with a longtime interest in innovation policy, was architect of the America Competes Act.
From page 5...
...  OVERVIEW strong correlations between basic and applied research funding and growth in GDP? Answering these funding questions is important to policy makers.
From page 6...
... He struck a theme repeated throughout the workshop: "What is not reported is not measured and is not managed." According to Lev, the key information that is needed at the firm level (as opposed to that needed for national accounting) is systematic measures of the factors that drive business -- specifically structured input-output data on the performance of the major drivers of enterprise value, some of which are intangible assets.
From page 7...
... provided an overview and update of the organization's standards-development activities, especially as they relate to intangible assets. FASB's priorities include working toward international convergence with the International Accounting Standards Board (IASB)
From page 8...
... From his perspective, there is a close link between the dynamic changes occurring in the knowledge economy and the way people live and the way communities function. He provided insights into questions about what motivates people to invest in the intellectual capital of a community, city, or nation, and about what makes communities different from companies.
From page 9...
... Following a common theme of the day, Lippoldt stated that the OECD would pursue government policies to promote identification and dissemination of best practices in voluntary reporting. His hope in voluntary measures rests on the idea that disclosure can enable investors to better assess future earnings and risks, improve transparency in financial markets, and foster the possibility of allocating resources efficiently.


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