What accounting concepts relates to the President's first suggestion to report 'Intellectual Abilities' as an asset? What type of asset would this be? How can a value be determined for this asset?

Here's the situation...

A small land development company desperately needs additional financing to continue in business. The President of the company is meeting with the manager of the local bank at the end of the month to try to obtain this financing. The President approached the chief controller with two ideas to improve the company's reported financial position.

First, he claimed that because a big art of the company's value comes from its knowledgeable and dedicated employees, the company should report their 'Intellectual Abilities' as an asset on the Balance Sheet (Statement of Financial Position).

Second, he claimed that although the local economy is doing poorly and almost no-one is buying land or new houses, he is optimistic that eventually things will turn around. For this reason, he asked the chief controller to continue reporting the company's land on the Balance Sheet at its cost, rather than the much lower amount that real estate appraisers say it's really worth.