Developing conceptual framework for accounting of intellectual potential and its disclosure in financial reporting of enterprises

Abstract

The main source of financial information for internal and external users about an en¬terprise is a system of accounting and financial reporting. However, the existing accounting methodologydoesn 7 allow for aggregating and representing entirely the available informa¬tion and intellectual resources of the enterprises of post-industrial type. The purpose of the article is to study the conceptual framework for accounting of intellectual potential and is disclosure in financial reporting at enterprises, which is the basis for further methodological developments in the field.

One possible solution to this methodological problem is in developing conceptual framework for recognition of the components of intellectual potential in the accounting of 'enterprises, which implies separation of intellectual assets and intellectual capital, which in terms of the balance sheet, could be represented as assets or as equity. This makes it possible to overcome the limitations of such intellectual objects ' recognition due to the principle of ………

To resolve the methodological problem of differentiation between profitability and preservation of intellectual potential, the concept of intellectual capital preservation is formulated The proposed interpretation of this concept is as follows: prof t can only be earned if the productive energy of intellectual potential (or the resources or funds for its reproduction) at end of period exceeds the productive energy of intellectual potential at the beginning of the period, excluding the payments to owners and the owners contributions during this period. The framework for accounting model needs to be developed in a way to reconcile or compromise at least three concepts of capital preservation, financial, physical and intellectual capital, to eliminate its existing deficiencies. Further development of the ac¬counting methodology based on the proposed conceptual framework requires elaboration of new approaches to evaluation of intellectual objects.