The FASB is asking a big question: Should we rethink how we recognize intangibles on the balance sheet? In its newly released Invitation to Comment: Recognition of Intangibles, the Board explores whether current GAAP adequately reflects today’s innovation-driven business models—especially when it comes to internally developed assets like R&D, software, and brand value. The ITC invites feedback on whether to align recognition across internally developed intangibles, asset acquisitions, and business combinations, and what trade-offs might come with that change. If you’ve got thoughts, comments are due by May 30, 2025—this is your chance to help shape the future of financial reporting.