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Objects of Intellectual Property Right in the Accounting System

Journal: Oblik i finansi (Vol.1, No. 91)

Publication Date:

Authors : ;

Page : 20-28

Keywords : intellectual property objects; intangible assets; accounting for intangible assets; initial cost; cost accounting;

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The rapid introduction of software products and other objects of intellectual property rights in the context of the fourth industrial revolution requires the improvement of methodical approaches to identifying the costs of their acquisition and creation. Such approaches will allow unambiguously determining the corresponding costs in the accounting system and reflecting them in the financial statements. The purpose of the article is to disclose the essence and identification of criteria for the recognition of intellectual property objects in the accounting system, taking into account the specifics of the use of information and communication technologies. Based on the analysis of domestic regulatory and methodical documents regulating the accounting for intangible assets, and international accounting standards, a number of inconsistent points have been identified on identifying the costs of acquiring and creating intellectual property objects and the conditions for their inclusion in current expenses or the initial cost of fixed assets. For the purpose of justified identification of these costs as an accounting object, the criteria for recognizing costs for the acquisition and creation of intellectual property objects have been systematized using the example of software products. The approach proposed by the author will contribute to the reasonable formation of the corresponding costs and their reflection in the accounting and reporting of the enterprise. Based on this, it will be possible to determine the objective financial results of the enterprise and evaluate its value. It was also proposed to apply a unified approach to determining the value of an object of intellectual property rights as an object of accounting and an investment object. This will allow introducing a unified monitoring system for long-term expenses in the accounting of the enterprise.

Last modified: 2021-05-03 22:31:53