Disclosure of improvement activities related to tangible assets

Abstract

In times of globalization, harmonization, and increasing competition, striking the proper balance between, at one extreme, flexibility or a true and fair view, and, at the other, comparability or rigidity, is a delicate one. In this article, we argue that maintenance measures may be split into one of the two categories: Value Preserving Maintenance (VPM), or Value Increasing Maintenance (VIM). Given the significance of maintenance expenditures, and that continuous improvement is a key requirement of success in this new environment, then VIM-measurement is a readily understood and valid indicator of management and firm performance. In addition, VIM-measures give a more true and fair view of the change in wealth of the enterprise than accumulated maintenance expenses that conventionally are treated as income adjustment entries.

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