A patently obvious contradiction exists in the canon of accounting standards that regulate global financial statements. It emerged from a decade of unfinished standard improvement and evolution and is sustained, primarily, because the need to bring two standards into conformity has not been seen as a priority. The financial crisis of 2007/08 precipitated changed priorities in standard modification and these changes were essential to improving financial reporting and some reordering of the research program was justified. But more than 5 years later the contradiction, enshrined in the standard that regulates the reporting of acquired intangibles and the status of internally generated intangibles remains unresolved. Thus, rather like electrons which can be in two places at once, these two standards cause intangibles to have simultaneous conflicting forms.

In this article we will explain the contradiction and how it came about and make a case for it to be resolved. We will comment on the related problems associated with reliable measurement and finally, cover the oddity of impaired intangibles dealt with as delinquent costs when those which gain in value are ignored.Lorem ipsum dolor sit amet, consectetur adipiscing elit. Maecenas consectetur sit amet tellus rutrum lacinia. Aenean nec dignissim eros. Praesent porttitor ligula auctor lectus sollicitudin, vitae finibus velit maximus. Ut elit leo, hendrerit vel nulla a, luctus feugiat diam. Mauris consequat ante eu nibh maximus consequat. Aliquam faucibus mauris non tempus porttitor. Pellentesque eu consequat risus, sed pulvinar tellus. Nam urna metus, molestie et tincidunt a, auctor quis eros. Morbi dignissim vel felis eu sollicitudin. Suspendisse aliquam tincidunt sodales. Ut tincidunt eros bibendum dolor aliquet, eget consectetur risus scelerisque. Vestibulum semper tristique diam, ac maximus diam accumsan a. Donec id enim velit. Donec sit amet lacus quis diam tempor dictum.