Theoretical principles of accounting in the management of innovation activity

The subject of study is the theoretical basis of accounting in the management of innovation activity.
The purpose of the study is to determine methodological approaches to the organization of
accounting and analytical support for management of innovation activity.
Research methods. The dialectical method of scientific knowledge, method of analysis and
synthesis, comparative method, method of generalization of data are used in the work.
Results of work. The paper identifies two components of intellectual capital that are not reflected
in accounting. Different approaches to the classification of intangible assets are presented. The
criteria are outlined for the use of which should be determined intangible assets. Approaches to the
reflection of costs, revenues and financial results from innovation activities are considered. The stages
of research and development that must be reflected in the accounting system have been determined.
Conclusions. The results of the study were the following conclusions. For ensuring the effectiveness
of innovation is necessary to create appropriate divisions of the project type, which are charged with the
task of completing all stages of the innovation process – from the assessment of scientific potential to
the implementation in practice or sale of an innovative product. The responsibilities of the employees
of such divisions are allocated taking into account the powers of the accounting department and the
need to interact with it during the implementation of the innovation project.