Any director or manager knows the importance which the the intangible assets have, although, except some of them, they are shown neither in the financial statement nor any in internal documents. In recent years the increasing role of techonology and knowledge, the interest for the intangible assets has increased at least in the private interprise and its identification, mensure and management is e present theme. It is considered very important to recognize and value these intangible assets

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... r to improve the decision making or demonstrate the external user its potency, adding this group of information to the tradicional and financial indicators. Despite of the doubless present time about this subject, many main ideas on intellectual capital are too old. The financial statements record some fixed intangible assets like patents or trade marks, though the procedures of developed valuation for the accounting of the tangible assets could not be like thoseapplied for the intangible ones, as was stated by Hendriksen and Van Brida (1992). It has been also frecuently, the theoric proposals about bookkeeping the intangible assets. In this paper it is made a proposal of a financial indicator that enable to measure the impact of the intellectual capital inside the real value of the enterprises that will give the possibility to strengthen the economic and financial analysis and make decisions in a short and long terms.