The paper deals with specific issues and problems of the matching of revenues and expenses that are present in the field of financial reporting on intangible assets - elements of intellectual capital. The circumstance that in the modern economy, i.e. "Knowledge economy" tangible assets are losing importance, and that the success of a companies is highly dependent on their ability to use and manage intangible assets that become the dominant determinant of value creation and competitive advantage, impose the need for consideration to be directed to this current reporting field. In this regard, in this paper we deal with the constraints of the modern financial reporting model, we point to the reasons for non-recognition of most elements of intellectual capital in the balance sheet, identifying and discussing three classes of intellectual capital, and, in relation to each of them, we elaborate the problems of the matching of revenues and expenses.

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