Chapter 3. Read My Lips: IT Is an Asset

"An asset is a resource controlled by the enterprise as a result of past events and from which future economic benefits are expected to flow to the enterprise."

—International Accounting Standards Board

Executive Summary

Companies that treat IT as an asset will have inherent advantages over companies that treat IT as merely a cost. This is not just a question of semantics; it is an issue of fundamental beliefs and values. If you believe that IT is your company's intellectual property captured in code, then you will treat IT as an asset. If you believe that IT is a system of advanced utilities for consolidating spreadsheets and delivering email, you will find it increasingly difficult to compete in today's market.

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