REASONS FOR THE NEED AND ADVANTAGES OF DISCLOSURE OF ACCOUNTING INFORMATION ABOUT THE INNOVATION CAPITAL OF THE ENTERPRISE
Abstract
The relevance of the development of the accounting system in the conditions of the formation of the knowledge economy in the direction of additional disclosure of accounting information with the help of specialized reports has been analyzed. The shortcomings of the current accounting system in terms of information support for stakeholder decisions regarding the enterprise's innovative activities have been characterized. The main problems of financial reporting in terms of informing about innovation capital and ways to solve them through additional disclosure have been identified (insufficient amount of relevant information about the enterprise's innovation activities provided to stakeholders; absence of irrelevant and presence of sensitive information about the enterprise's innovation activities; Ineffective information interaction and communication with stakeholders). The need to expand the amount of information disclosed to external stakeholders about innovation capital has been identified. Based on the analysis, the following main reasons for the need for additional disclosure of accounting information about the enterprise's innovation capital have been identified and substantiated (the need to improve the assessment of the enterprise's value; development of investment and innovation financing policies; the ability of the accounting system to provide additional disclosure; solving the agency problem between innovation management and external stakeholders; improving the forecasting of the results of innovation activities in innovation markets; attracting talented participants to innovation teams). It is noted that the defining advantage of additional disclosure tools compared to financial reporting in terms of information on innovation capital is their focus on the needs of external stakeholders, the formation of reliable and relevant information support for making economic decisions. It is proven that in total these reasons allow us to justify the interests of innovation managers in disclosing expanded accounting information on innovation activities and characterize the various reasons for their aspirations in encouraging stakeholders to make the decisions they need. The main problems of financial reporting in the part of informing about innovative capital and ways to solve them with the help of disclosure have been identified.
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