The Role Of Intangible Assets And Other Accounting Issues In A Corporate Disaster

Abstract

In this paper we investigate the role of intangible assets, slotting costs and the failure to provide for legal contingencies in the problems that beset Burns Philp., an Australian blue chip company in 1997. We also move the combination of problems to a 2005 perspective and ask if in the light of recent developments in the accounting for intangible assets and contingencies ( IAS 38) directors would be in a better position to inform shareholders adequately or not.