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Liburkina L. M.

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The Organizational Aspects of the Formation of Accounting Policies for Innovation Expenditures on Capital Investments
Smokvіna G. A., Popovych K. F.

Smokvіna, Ganna A., and Popovych, Kateryna F. (2020) “The Organizational Aspects of the Formation of Accounting Policies for Innovation Expenditures on Capital Investments.” Business Inform 9:205–211.
https://doi.org/10.32983/2222-4459-2020-9-205-211

Section: Accounting and Auditing

Article is written in Ukrainian
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UDC 330:657.658

Abstract:
The article outlines positive aspects of the innovation-technological direction. The authors define interconnectedness of investment, operational and financial activities, as well as the influence of the element of innovation on all three mentioned components. Accounting for innovations is considered; the issues related to solving organizational-methodological problems of accounting of investment and innovation activities of enterprises are highlighted. It is specified that the choice of a methodological support for accounting the innovation process depends not only on the nature of the implementation of the innovation plan, but also on the source of its financing. Depending on the way the innovation initiatives are financed, the changes they will make to the formation of financial resources and the accounting systems that will be used to pay for innovation expenditures are defined. The authors point out the directions in which innovations can be carried out are indicated, as well as the peculiarities of their accounting. Two conceptual approaches to the sequence of the innovation process are identified. The important issues that arise in innovation activity are illuminated and methods of attributing innovation expenditures to accounting are defined. The objects of accounting of innovation activity are indicated. To better track information and increase the organization of the innovation process, it is necessary to develop an accounting policy of the costs of innovation activity. The main components and elements of accounting policy in terms of innovative capital investment costs to be considered in the formation of accounting policies are highlighted. A properly regulated accounting policy helps to significantly improve the conduct of economic activity at the enterprise and allows owners to respond correctly and in a timely manner to the processes taking place during its implementation. With regard to the cost of innovation, the concretization of elements of accounting policy will provide participants in the innovation process with access to fair and transparent information to form an efficient managerial ability to make decisions.

Keywords: innovations, accounting, accounting policies, innovation expenditures, capital investments.

Fig.: 3. Tabl.: 1. Bibl.: 8.

Smokvіna Ganna A. – Candidate of Sciences (Economics), Associate Professor, Associate Professor, Department of Accounting, Analysis and Audit, Odesa Polytechnic National University (1 Shevchenko Ave., Odesa, 65044, Ukraine)
Email: [email protected]
Popovych Kateryna F. – Student, Odesa National Polytechnic University (1 Shevchenka Ave., Odesa, 65044, Ukraine)
Email: [email protected]

List of references in article

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Yushchak, Zh. M. “Osoblyvosti obliku vytrat innovatsiinoi diialnosti“ [Features of Accounting for Innovation Costs]. Problemy teorii ta metodolohii bukhhalterskoho obliku, kontroliu i analizu. Seriia «Bukhhalterskyi oblik, kontrol i analiz», no. 3 (2014): 449-458. DOI: https://doi.org/10.26642/pbo-2014-3(30)-449-458
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