Accounts only deal with items to which a monetary value can be attributed.
For example, an asset such as a machine can be valued at its original purchase cost, its replacement cost (asset valuation and accounting can take up a whole accountant) but the flair and talent of a manager or employee has no easily identifiable monetary value.
That said, in the world of sport, transfer fees appear to provide an objective valuation of a player’s worth but in almost all cases, the clubs make no attempt to include the value of players on their balance sheet. Usually, transfer fees are shown as a cost in the profit and loss account.
It is partly because of the Money Measurement Concept, that there are often issues around acounting for brand names. Brand valuation as it can be a very subjective exercise, indeed whole consultancies just work on brand valuation – is a whole specialisation, in it’s own right. Have a look at brandfinance.com. For instance, how much more would you be willing to pay for a big name brand instead of a bog-standard generic product? It would probably depend on several factors, many of the social or psychological as well as economic. For this reason, it’s very difficult for companies to arrive at a monetary value on a brand name. The value of brands can rise and fall with changes in consumer tastes but many companies’ balance sheets feature brand values as assets.