Question: Company value is increasingly being driven by intangible assets, yet many of these assets do not appear on company balance sheets as they don't satisfy

Company value is increasingly being driven by intangible assets, yet many of these assets do not appear on company balance sheets as they don't satisfy the recognition requirements of IAS 38/AASB 138 Intangible assets.

Explain why 'financial statements don't work for digital companies' such as Facebook. Do these financial statements meet their objective of providing relevant information to users?

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