New Approaches to Valuing Intangible Assets in the Digital Economy: Data, Software, and Algorithms

Mohammad Malekabad¹

1) PhD Student in Accounting, North Tehran Azad University

IOI Code : AAHD-ABKGCG
Publication : National Conference on Information Technology, Nanotechnology, Artificial Intelligence and Technological Futures Studies(itnaf.ir)
Abstract :
    In the contemporary digital economy, data, software, and algorithms have become the main pillars of value creation and competitive advantage for firms. International evidence shows that investment in knowledge-based and data-driven assets has grown almost four times faster than investment in tangible assets in recent decades, reflecting the structural reallocation of capital in the global economy (TEGOVA, 2026). Despite this growing importance, the valuation of these assets has always been one of the most challenging areas of finance and accounting due to their intangible nature, lack of an active market, context dependence, high uncertainty, and rapid variability. This article examines new approaches to valuing intangible assets related to the digital economy, with an emphasis on three main categories: data, software, and algorithms. Using a document analysis and systematic review method, this study examines the latest developments in valuation standards, including IVS 210 (2025 edition), IAS 38, and the new European standard EVS-IA 2026. The findings show that traditional approaches based on the three cost, market, and income methods, although still constituting the main foundations of valuation, are ineffective for valuing modern assets such as artificial intelligence models, proprietary databases, and complex software systems. New approaches include the real options method, Monte Carlo simulation, a systems approach, and mixed quantitative-qualitative models that enable more accurate and transparent valuation by utilizing big data and scenario analysis. The research results show that synergy between accounting, valuation and auditing standards is essential to create a common language in the valuation of digital intangible assets, and a four-pronged institutional framework (legal recognition, public support, gradual valuation and market-based financing) can bridge the gap between digital innovation and financing.

Keywords : valuation of intangible assets digital economy database software algorithm