Development of accounting and analytical support for the evaluation of investments in innovations by industrial enterprisess

Abstract

Introduction. New technological and economic challenges of our time demand industrial enterprises to apply innovative approaches to the organization of production and management, therefore, investments in innovation are becoming one of the trends of sustainable development. Informed investment decisions require information and methodological tools, including accounting and analytical support.

The purpose of the work is to consider the current state and directions of development of accounting and analytical support for the evaluation of investments in innovations by domestic industrial enterprises.

Materials and Methods. The paper analyzes approaches to the definition of accounting and analytical support; the author proposes their interpretation of the definition. The regulatory framework governing the accounting of investments in innovative development, the objects of which are R&D and intangible assets, as well as regulatory and author’s approaches to assessing the investment efficiency of projects are reviewed.

Results. New federal accounting standards are compared and critically analyzed; a number of recommendations on the application of the standards were proposed. Classical methods of investment evaluation are revealed; their advantages and weaknesses are identified. The development trends for the evaluation methods applied to the investments in innovations, proposed by modern researchers, and based on the decision tree, fuzzy set theory, multi-criteria approach, etc. are reviewed, and their advantages and disadvantages are described.

Conclusion. The application is justified; the methodology derived from the growth of the company’s value and applied to evaluate the innovation investment efficiency for the innovations is described and illustrated, since it reflects the ability of the enterprise to generate and multiply profits. The results of the work can be used by the scientific community to develop further directions for the development of accounting for investments in innovation and investment analysis, as well as by business entities to generate accounting policies and accounting systems, as well as to assess the effectiveness of investments in innovation in order to ensure economic security and sustainable development.

Keywords: accounting and analytical support, investment activity, innovative development, intangible assets, R&D expenses, cash flows, economic value added, company value, economic security

For citation

Popov A. Yu. Development of accounting and analytical support for the evaluation of investments in innovations by industrial enterprises. Perm University Herald. Economy, 2023, vol. 18, no. 3, pp. 311–332. DOI 10.17072/1994-9960-2023-3-311-332. EDN IWUDBT.

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