Publisher Summary Companies with greater competitive advantage than their competitors can withstand competitive attacks and harsh economic conditions far more easily than their competitors can. Intangibles are acknowledged by senior management as being extremely important to manage, despite common misgivings about the difficulty of identifying, classifying, measuring, valuing, reporting, and managing source intangibles. At no other time in history has the accounting profession been under so much duress to upgrade and update its methods to reflect the changes the intangible economy has brought. The new management principles and new value creation processes that dominate today's intangible economy run contrary to the long-held methods of doing business in the manufacturing age. Intangible accounting provides the long-awaited upgrade to the conventional accounting framework that allows accountants to meet the challenges of the intangible economy with confidence and renewed vitality.