Financial statements and intangible assets  LO1 Upton (2001, p. 50) notes: There is a popular view of financial statements that underlies and motivates many discussions of intangible assets. That popular view often sounds something like this: If accountants got all the assets and liabilities into financial statements, and they measured all those assets and liabilities at the right amounts, stockholders’ equity would equal market capitalization. Right? Required Comment on the truth of this ‘popular view’.