ACCOUNTING INNOVATION ACTIVITIES: PROBLEMS AND SOLUTIONS
Journal Title: The Institute of Accounting, Control, and Analysis in the Globalization Circumstances - Year 2016, Vol 1, Issue 1
Abstract
Introduction. Reliable and timely information is needed for the management of innovation processes, but financial measurements of innovations have not been sufficiently addressed to in science and practice in this country. Financial measurement of innovations has not been identified as an object of accounting, there is no special account for innovations. This complicates the problem of preparing the necessary information for business clients. Purpose. The aim of the present investigation is to give suggestions regarding the improvement of the innovation cost method in accounting. Methods. The analysis of the current innovation in accounting practices of commercial organizations, the study of normative and legislative documents and scientific literature, a comparison of existing approaches in the framework of these techniques, all this revealed a number of problems. The proposals are based on accounting modelling of innovation activities. Results. It was proposed to use a special account for measuring innovation costs. Special account application methods and a special account report form were developed as well. Discussion. The proposed method of cost accounting for innovative processes will help to solve the problem of understanding innovation as a specific object of accounting, it will increase the accuracy of the estimate of the actual cost of an innovative project and generate the information needed to analyze the effectiveness of innovative activities.
Authors and Affiliations
Tatyana Panova, Lev Ioffe
Keywords
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