Under current accounting rules, companies cannot recognise internally generated goodwill in their balance sheet. Baruch Lev, an accounting professor at NYU calls this 19th century accounting. In anera when so many companies rely upon their brand and knowledge about theircustomers to drive sales, this obscures important information from investors.However, standard setters such as the IASB and FASB argue that valuation onsuch intangibles is far too complex to justify on a cost/ benefit basis.

Student Asupports the introduction of full accounting for intangible assets includinginternally generated goodwill.

This is a presentation question, i need to give a speech about 12 to 15 mins. Please prepare the speech draft for me, thx