The accounting treatment of intangible assets is a particularly complex and important issue for today's economy, a knowledge based economy. For nowdays companies, these assets are inductors for success and an important factor for achieving competitive advantage. Also, these asstets are an important part of the financial statements. With the increasing weight and importance of the intangible assets the need for financial information of of financial statements’users has changed and the current accounting system makes it difficult to cope with these developments. Because of the uncertainty that strikes intangible assets, accounting can not capture their growing importance. Accordingly investors and other users of financial statements may not receive complete and relevant information for decision making. Basic questions arise here: Does the accounting treatment of intangible assets affect the relevance of financial information? ; May this treatment cause a misallocation of resources? The weakness is that the current accounting system can not capture all significant intangible values. Along with trying to answer the above question the purpose of this paper is to present the accounting treatment related to intangible assets according to international financial reporting standards and to analyze to what extent the accounting treatment of intangible assets affect the relevance of financial information for Romanian pharmaceutical companies listed on the Bucharest Stock Exchange The research was qualitative type, based on empirical data recorded on a sample of 5 Romanian pharmaceutical companies, listed on the Bucharest Stock Exchange. The qualitative side is given by the fact that the study is based on interpretation, explanation, understanding.