Improving the Methodological Support for Recording Expenditures and Outcomes of R&D

At present, the evaluation of the results of innovation is important when choosing promising investment projects for all levels of management—from economic entities interested in the implementation of innovative strategies to federal authorities responsible for science, technology and innovation policies in the country. At the same time, great importance in our country is given to an innovative way of development of enterprises that perform research and development activities (R&D), as evidenced by the increase of the share of innovative research nearly 2.5 times over the last five years. Successful intensification of R&D process is due to the creation of innovation centers: “Skolkovo”, “Technopark-Sarov”, Technopark of Novosibirsk Akademgorodok, “Technopark-Strogino” and others that are designed to maximize territorial cohesion of science, industry and commerce. The existing regulatory framework for R&D accounting does not allow to defining a clear distinction between “research” and “development” and therefore regulates only the end result of these activities. This leads to a distortion in the formation of expenditures for R&D and unreliable monetary terms relating to their outcomes. In addition, in the current practice, the problems of application of international accounting standards still remain open, which adversely affects the attraction of foreign investors. As a solution to the existing problems, it is necessary to use the fundamental principle of national accounting) time definiteness of the facts of expenditures and outcomes of R&D—when making professional judgment. The unresolved problems in the recognition of expenditures and outcomes of R&D in accounting and reporting result in an increased interest in conducting special studies to find effective methodological support for innovation management that meets the different needs of users of financial statements.