scholarly journals The Organizational Aspects of the Formation of Accounting Policies for Innovation Expenditures on Capital Investments

2020 ◽  
Vol 9 (512) ◽  
pp. 205-211
Author(s):  
G. A. Smokvіna ◽  
◽  
K. F. Popovych ◽  
Keyword(s):  
Capital Investment ◽  
Innovation Process ◽  
Innovation Activity ◽  
Capital Investments ◽  
Accounting Systems ◽  
Innovation Activities ◽  
Methodological Problems ◽  
Main Components ◽  
The Cost ◽  
Accounting Policy

The article outlines positive aspects of the innovation-technological direction. The authors define interconnectedness of investment, operational and financial activities, as well as the influence of the element of innovation on all three mentioned components. Accounting for innovations is considered; the issues related to solving organizational-methodological problems of accounting of investment and innovation activities of enterprises are highlighted. It is specified that the choice of a methodological support for accounting the innovation process depends not only on the nature of the implementation of the innovation plan, but also on the source of its financing. Depending on the way the innovation initiatives are financed, the changes they will make to the formation of financial resources and the accounting systems that will be used to pay for innovation expenditures are defined. The authors point out the directions in which innovations can be carried out are indicated, as well as the peculiarities of their accounting. Two conceptual approaches to the sequence of the innovation process are identified. The important issues that arise in innovation activity are illuminated and methods of attributing innovation expenditures to accounting are defined. The objects of accounting of innovation activity are indicated. To better track information and increase the organization of the innovation process, it is necessary to develop an accounting policy of the costs of innovation activity. The main components and elements of accounting policy in terms of innovative capital investment costs to be considered in the formation of accounting policies are highlighted. A properly regulated accounting policy helps to significantly improve the conduct of economic activity at the enterprise and allows owners to respond correctly and in a timely manner to the processes taking place during its implementation. With regard to the cost of innovation, the concretization of elements of accounting policy will provide participants in the innovation process with access to fair and transparent information to form an efficient managerial ability to make decisions.

Exergoeconomic analysis of renewable multi-generation system

2020 ◽  
pp. 99-111
Author(s):  
Vontas Alfenny Nahan ◽  
Audrius Bagdanavicius ◽  
Andrew McMullan
Keyword(s):  
Capital Investment ◽  
Combined Cycle ◽  
Asian Countries ◽  
Generation System ◽  
Integrated Gasification Combined Cycle ◽  
Heating And Cooling ◽  
Integrated Gasification ◽  
Exergoeconomic Analysis ◽  
Main Components ◽  
The Cost

In this study a new multi-generation system which generates power (electricity), thermal energy (heating and cooling) and ash for agricultural needs has been developed and analysed. The system consists of a Biomass Integrated Gasification Combined Cycle (BIGCC) and an absorption chiller system. The system generates about 3.4 MW electricity, 4.9 MW of heat, 88 kW of cooling and 90 kg/h of ash. The multi-generation system has been modelled using Cycle Tempo and EES. Energy, exergy and exergoeconomic analysis of this system had been conducted and exergy costs have been calculated. The exergoeconomic study shows that gasifier, combustor, and Heat Recovery Steam Generator are the main components where the total cost rates are the highest. Exergoeconomic variables such as relative cost difference (r) and exergoeconomic factor (f) have also been calculated. Exergoeconomic factor of evaporator, combustor and condenser are 1.3%, 0.7% and 0.9%, respectively, which is considered very low, indicates that the capital cost rates are much lower than the exergy destruction cost rates. It implies that the improvement of these components could be achieved by increasing the capital investment. The exergy cost of electricity produced in the gas turbine and steam turbine is 0.1050 £/kWh and 0.1627 £/kWh, respectively. The cost of ash is 0.0031 £/kg. In some Asian countries, such as Indonesia, ash could be used as fertilizer for agriculture. Heat exergy cost is 0.0619 £/kWh for gasifier and 0.3972 £/kWh for condenser in the BIGCC system. In the AC system, the exergy cost of the heat in the condenser and absorber is about 0.2956 £/kWh and 0.5636 £/kWh, respectively. The exergy cost of cooling in the AC system is 0.4706 £/kWh. This study shows that exergoeconomic analysis is powerful tool for assessing the costs of products.

scholarly journals Environmental Taxes and Innovation in Chinese Textile Enterprises: Influence of Mediating Effects and Heterogeneous Factors

2021 ◽  
Vol 13 (8) ◽  
pp. 4561
Author(s):  
Yabin Yu ◽  
Hua Cheng
Keyword(s):  
Capital Investment ◽  
Economic Behavior ◽  
Property Right ◽  
Environmental Taxes ◽  
Innovation Activity ◽  
Environmental Tax ◽  
Capital Input ◽  
Innovation Activities ◽  
Enterprise Innovation ◽  
Innovation Capital

Climate change and environmental conditions call for more attention to be paid to eco-friendly economic behavior. As a market-oriented environmental regulation, environmental tax can stimulate and guide enterprises’ environmental innovation in a neutral way. However, what elements connect the environmental tax and enterprise innovation activity together? Are all the enterprises’ innovation activities affected by the environmental tax in the same way? To answer the questions, the study uses the data of Chinese textile listed companies between 2004 and 2018 to explore the intermediary role of manpower and capital investment in the innovation chain and further analyze the influence of the heterogeneous factors such as property right, segmented industry, and region. The results show that the environmental tax can effectively promote the innovation capital input of Chinese textile enterprises, and the innovation manpower input plays a partial mediation role. At the same time, environmental tax can effectively promote the innovation performance output of Chinese textile enterprises, and innovation capital input plays a complete mediation role. In addition, heterogeneous factors such as property right, segmented industry and region will affect the relation of environmental tax to innovation input and output quality and greenness to varying degrees. The study makes a profound analysis of the relation of environmental tax on Chinese textile enterprises innovation by using the microdata at the enterprise level, providing a more targeted reference for making policies in the future.

scholarly journals Innovation in the Textiles Sector: A Firm-Level Analysis of Technological and Nontechnological Innovation

2016 ◽  
Vol 21 (Special Edition) ◽  
pp. 129-166 ◽  
Author(s):  
Waqar Wadho ◽  
Azam Chaudhry
Keyword(s):  
Small Firms ◽  
Innovation Process ◽  
Foreign Market ◽  
Knowledge Flows ◽  
Innovation Activity ◽  
Local Market ◽  
Large Firms ◽  
Firm Level ◽  
Innovation Activities ◽  
Innovation Rate

In a knowledge-based economy, it has become increasingly important to better understand critical aspects of the innovation process such as innovation activities beyond R&D, the interaction among different actors in the market and the relevant knowledge flows. Using a sample of 431 textiles and apparel manufacturers, this paper explores the dynamics of firms’ innovation activities by analyzing their innovation behavior, the extent and types of innovation, the resources devoted to innovation, sources of knowledge spillovers, the factors hampering technological innovation and the returns to innovation for three years, 2013–15. Our results show that 56 percent of the surveyed firms introduced technological and/or nontechnological innovations, while 38 percent introduced new products, these innovations were generally incremental as the majority of innovations were new only to the firm. Furthermore, the innovation rate increases with firm size; large firms have an innovation rate of 83 percent, followed by medium firms (68 percent) and small firms (39 percent). Technologically innovative firms spent, on average, 10 percent of their turnover on innovation expenditure in 2015. Acquisition of machinery and equipment is the main innovation activity, accounting for 56 percent of innovation expenditures. Large firms consider foreign market sources (clients and suppliers) and small firms consider local market sources their key source of information and cooperation. 63 percent of technological innovators cite improving the quality of goods as their most important objective. Lack of available funds within the enterprise is the single most important cost factor hampering innovation, followed by the high cost of innovation. Our results show that 67 percent of the turnover among product innovators in 2015 resulted from product innovations that were either new to the market or new to the firm.

scholarly journals Public-private partnerships in US innovation

2021 ◽  
Vol 21 (4) ◽  
pp. 380-391
Author(s):  
Valerij N. Minat ◽  
Keyword(s):  
United States ◽  
Innovation Process ◽  
The United States ◽  
Regional Level ◽  
Innovation Activity ◽  
Regional Innovation ◽  
Innovation Activities ◽  
Territorial Differentiation ◽  
Innovative Potential ◽  
State Financing

Introduction. The subject of the research is public-private partnership (PPP), which contributes, through funding and incentives, to the spatial development of innovation in the United States. As an economic phenomenon, PPP is seen as an effective mechanism for integrating investors, business (primarily venture capital) and the state aimed at implementing the innovation process at the meso-spatial level – states and regions (subregions) of the United States – within the framework of regional innovation systems (RIS), contributing to territorial differentiation. Theoretical analysis reveals the factors and mechanisms of public-private interaction in the space of the corresponding RIS states and sub-regions of the country, characterized by the institutional and functional role of American forms of PPP in the implementation of innovative projects at the regional level. A hypothesis is formulated about the heterogeneity and unevenness of the united innovation space in the United States, one of the foundations of which is the differential nature of state financing of innovation activities at the regional level. Empirical analysis. A correlation is shown between indicative indicators reflecting the level of innovative potential and characterizing the innovative activity of the RIS of the states and subregions of the United States as a whole, on the one hand, and the degree of development of the innovative potential of PPP within the RIS of the corresponding territory, on the other hand. The carried out typological grouping of RIS states based on the lognormal distribution reflects the statistical commonality of the analyzed indicators. Results. Based on the available values of the indices characterizing the innovation activity of the RIS of specific states and subregions of the United States, as well as the calculation of integral indicators that make it possible to assess the interaction of PPP subjects, which are at the same time the institutional and functional elements of the corresponding RIS, a hypothetical statement about the unevenness of the US innovative development has been confirmed. In this case, the territorial differentiation of innovation in the United States and its impact on the spatial aspect of the development of an innovative economy, and, consequently, on economic growth, is determined by the intensity of the use of innovative potential by forms of PPP, which involves proactive financing and stimulation of innovative business projects at the expense of budgetary funds in the RIS of specific groups of states and sub-regions of the United States.

scholarly journals CAPITAL INVESTMENTS: NORMATIVE LEGAL AND ACCOUNTING

2021 ◽  
pp. 166-181
Author(s):  
Olena PODOLIANCHUK ◽  
Nataliya GUDZENKO
Keyword(s):  
Capital Investment ◽  
Legal Framework ◽  
Legal Regulation ◽  
Capital Investments ◽  
Object A ◽  
Separate Object ◽  
The Difference ◽  
Definition Of ◽  
The Cost

The article evaluates the legal regulation and accounting of capital investments and determines that a single and precise term that would determine their essence has not yet been developed. The difference in the definitions of capital investments is outlined, which leads to confusion in their evaluation and reflection in the system of accounting accounts. There are two approaches to determining the nature of capital investment in the legal framework: economic and accounting. The dynamics and structure of capital investments by types of assets in terms of 2015-2019 are presented. Based on the results of elaboration of the regulatory framework and scientific opinions of scientists, their own opinion on the definition of capital investment has been expressed. It is noted that in the organization of accounting for capital investments it is important to assess, classify, justify objects, as well as the allocation of costs to current (to maintain the object in working order) and attribute investments to capital (improving the functional properties of the object ). A generalized classification of capital investments is proposed, which will help to timely and fully systematize the accounts and reflect in the reporting of objective and reliable information. It was found that one of the problems of accounting for capital investments is the distribution of costs and investments incurred between current costs and capital investments. Entities are invited to develop their own criteria for identifying capital investment objects and assigning the cost of repairs (capital repairs) to capital investments and approve them in the accounting policy and order. In order to ensure the objectivity of the information on capital investments, alternative changes to the Chart of Accounts have been proposed in the part of the Capital Investments account. The submitted proposals will provide an opportunity to consider capital investments as a separate object of accounting and to assess the rationality of investments.

scholarly journals The role of the banking system in the innovative development of economy

2019 ◽  
pp. 81-101 ◽  
Author(s):  
Oleksandr Dziubliuk
Keyword(s):  
National Economy ◽  
Banking System ◽  
Innovation Process ◽  
World Market ◽  
Innovation Activity ◽  
Innovative Development ◽  
Innovation Potential ◽  
Innovation Activities ◽  
Lending Activity

The article gives a rationale for rebuilding the country’s innovation capacity as a key task of the current economic policy of the state, since it is the use of innovations that is extremely important for successful business activity and for obtaining competitive advantages in the world market. The subject matter of the study is the role of banking system, whose lending activity can serve as a powerful source for funding innovation, which, in turn, is seen as a key driver for investment and economic growth. The purpose of the research paper is to substantiate the appropriate theoretical and methodological approaches to understanding the role of the banking system within the framework of stimulating innovative development of the economy. The article critically analyzes the current state of innovation activity in Ukraine and systematizes the main factors restraining the innovative development of the economy. Particular attention is paid to the lack of funding for innovation, the ineffective structure of the national economy, and insufficient state financial support. The lack of an adequate level of funding for innovation activities of enterprises is identified as one of the main constraints on the introduction of innovations and enhancement of innovation potential. It is stressed that the limited amount of own funds and the objective difficulties in attracting foreign financial resources of investors are usually the main reasons for the low degree of innovation activity of enterprises in Ukraine. It is argued that it is the banking system that can act as the main institutional element of the innovation infrastructure, which has the proper organizational, technological and financial potential, sufficient for accumulation and redistribution of those investment resources that are necessary for activating the innovation process in the national economy. The advantages of banks in comparison with other participants of the financial market are determined, which determines the key role of the banking system in the innovative development of the economy. The author articulates a set of organizational, institutional and economic measures at the macro- and micro-levels which can contribute to incorporating the banking system into the framework of stimulating innovation processes.

scholarly journals ACCOUNTING OF INNOVATIVE ACTIVITIES

2019 ◽  
pp. 117-131
Author(s):  
Liubov KOVAL
Keyword(s):  
Innovation Process ◽  
Implementation Process ◽  
Legal Framework ◽  
Innovation Activity ◽  
Expert Assessment ◽  
Investment Activity ◽  
Innovative Products ◽  
Operational Activities ◽  
The Moment ◽  
The Cost

The strategy of economic and social development of Ukraine is aimed at introducing an innovative model of structural construction and economic growth. At the same time, the main source of such growth is innovation products, the creation and use of which is the main driving force of the country's economic development. Currently, there are certain problems in Ukraine that hinder the development of innovation activity. These include: - insufficient level of financing of scientific and technical works and associated derivative threats (loss of scientific personnel and intellectual property, inappropriate structure of scientific and technical potential, reduction of innovation activity, etc.); - insufficient level of informational support of innovation sphere; - unsuccessful tax policy of the state in the innovation sphere; - weak development of technology transfer technology. Innovative products become the subject of accounting since the documentary design of its adoption. Externally, such acceptance may have signs of copyright (certificates, etc.). Identification of objects of accounting of innovation activity involves their assessment. Evaluation of innovation projects and programs should be carried out in three directions: 1) evaluation of innovations with a view to their selection (pre-investment stage); 2) accounting (accounting, cost) assessment of innovations (at the moment of innovation attraction and by the end of their period of operation); 3) assessment of the efficiency of innovations (in parallel with the operation of innovations and after the investment stage). Having analyzed the Ukrainian legislation on the accounting evaluation of such an object of accounting as innovation, one can conclude that the regulatory and legal framework is inadequate and inconsistent. The identified shortcomings therefore require improvements in the methodology and practice of accounting for innovation assessment. The assessment should take into account the factors of influence and the specific situations in which the company is located. In our opinion, the assessment of innovations as an object of accounting and analysis should: - to show the quantitative and value value of a specific type of innovation; - to give an assessment from the moment of introduction and for a certain date up to the release of innovative products and the implementation process; - reflect market value and expert assessment for possible implementation through patenting and licensing; - reflect the recoverable cost of innovative projects to be upgraded, reconstructed and improved during operation; - take into account the liquidation value or the cost of the sale; - serve as the basis for conducting an economic evaluation of the innovation process; - to be an institutional basis for the legal services to perform certain activities related to the negotiation of the conditions for the development of innovations, the protection of property rights and the issuance of results by patents; - to provide information on the requirements of statistical accounting, tax and investment regulation, administrative management, etc. The peculiarity of accounting for innovations is their attribution to a particular type of activity. In this connection, there are some problems and inaccuracies. In our opinion, the innovative activity will be classified as operational in the case when the enterprise is experimental and its operational activities involve the introduction of new varieties of plants, animal breeds, etc. Otherwise, the innovation activity will be expressed through investment. The accounting of innovations should reflect the information on income, expenses and the process of development and implementation of innovations at the enterprise, which determines its purpose. To account for innovations, appropriate accounting records should be assigned. However, the current legislation provides for the identification of information only for the cost of research and development. All other information about the innovative state of the enterprise development is reflected in the general accounts of assets, income, expenses, etc. Using common accounts for innovation is not convenient, because information is sparse. In order to overcome this shortcoming, it is expedient to use the information of the accounting of innovation activity. In addition, the amount of innovation costs should be used. For successful construction of the models of accounting for innovations it is necessary to take into account the needs of internal and external users, in particular by changing the forms of both financial and statistical reporting. The results of the research allow us to formulate the following conclusions and suggestions. First of all, the regulatory framework for innovation assessment needs to be improved. It should take into account the peculiarities of the functioning of enterprises. In addition, the urgent issue is the development of methodological recommendations for the accounting of innovations, which will form the basis for the development of the Order on accounting policies in terms of innovation activities of the enterprise. The issue of reporting information about the entity's innovations will need to be resolved, for which it is proposed to use the Report of sources of financing of innovation-investment activity and the Indicator of the amount of innovative expenses. The use of these proposals will improve the accounting of innovations in the enterprise.

scholarly journals Clever Specialization as an Opportunity to Increase Innovation Activity of the Regions of the Kyrgyz Republic

2019 ◽  
Author(s):  
Diliara Suleeva
Keyword(s):  
Innovation System ◽  
Innovation Process ◽  
Innovation Activity ◽  
Kyrgyz Republic ◽  
Regional Innovation ◽  
Innovation Ecosystem ◽  
Innovation Activities ◽  
Current State ◽  
The Republic ◽  
Smart Specialization

In recent years, great attention has been paid to the problems of developing innovation activities in the Kyrgyz Republic. They became the most discussed in the country, and modernization and industrialization are the main directions of the current state policy of Kyrgyzstan. The objective need for the implementation of scientific and other innovations in the country, taking into account regional particularities, determines the relevance of the research chosen. The article considers the possibility of implementing an effective regional innovation system based on the so-called “smart” specialization in the Kyrgyz Republic. The economy of the republic is extremely important constantly developing innovation process, and it should not end only on the acquisition of expensive innovative equipment. It is necessary to develop the whole system with the obligatory involvement of the regions. This is the only way to rely on the successful development of innovations. The paper analyzes the main directions of innovation development at the regional level. The problems of promoting the innovation ecosystem in Kyrgyzstan in general, and innovation processes in agriculture, in particular, have been identified.

scholarly journals Substantiating the Essence and Components of the Value of Interaction in Innovation Processes

2020 ◽  
Vol 10 (513) ◽  
pp. 73-80
Author(s):  
L. S. Lisovska ◽  
Keyword(s):  
Innovation Process ◽  
The State ◽  
Innovation Activity ◽  
Mutual Understanding ◽  
Market Participants ◽  
World Economic ◽  
Low Efficiency ◽  
The Cost ◽  
The Impact ◽  
Innovation Processes

The article is aimed at researching the processes of establishing and developing interaction in innovative processes. The reasons for the low efficiency of innovation activity in Ukraine are analyzed and the importance of increasing the indicators of interaction in innovative processes to overcome the causes of low innovativeness of the economy is substantiated. The main elements of conceptual bases of formation of interaction systems in innovative processes are defined: formation goals, expected results, conditions for establishing interaction. Particular attention is paid to determining the range of potential participants of interaction systems and their systematization into four groups: the State, science, business, consumer. For each group, the prompting factors of establishing interaction in innovative processes and possible contribution in the course of formation of systems of interaction in innovative processes are determined. It is specified that the interests of groups of participants of interaction systems can be multidirectional and have their own criteria for the effectiveness of satisfaction. Therefore, in order to avoid conflicts and with purpose of rational mutual understanding of interests, it is proposed to evaluate the feasibility of participation in innovative processes through the indicator of the value of interaction. On the basis of the carried out study, the concept of the value of interaction in innovative processes is substantiated and the fundamental components of this concept are determined, namely: the usefulness and the cost of interaction. According to the author, the value of interaction for the participant is formed through the comparison of the received usefulness from participation in the systems of interaction to the expected costs associated with this participation. In connection with the acceleration of the dynamics of world economic processes and, in particular, innovative ones, the importance of taking into account the factor of time when assessing value is emphasized. Firstly, the interaction in the innovation process is developing, taking new forms both for partners and for different market participants. Secondly, the impact of time on the usefulness and cost of interaction can take different meanings: increase, decrease or not affect the level of value (usefulness, cost) of interaction.

scholarly journals WAYS OF INCREASING EFFICIENCY OF INVESTMENT AND INNOVATIVE ACTIVITY OF BUILDING ORGANIZATION

2018 ◽  
pp. 212-217
Author(s):  
Yuliia Mykytyuk
Keyword(s):  
Complex System ◽  
Technological Progress ◽  
Innovation Activity ◽  
Private Capital ◽  
Capital Investments ◽  
Complex Solution ◽  
Economic Mechanism ◽  
Innovation Activities ◽  
Construction Organizations ◽  
Regional Authorities

The article proposes a new complex solution of tasks for increasing the efficiency of management of investment and innovation activities of construction organizations. The complex system of evaluation of the effectiveness of investment and innovation activity is developed. It allows to define comprehensively the strategic directions of investment and innovation activity of building organizations by selecting and evaluating investment and attractive projects, as well as to evaluate its efficiency, both in general and for each of its the participant. It is concluded that in order to develop the economy of Ivano-Frankivsk oblast there is an increase in investments. It is proposed to stimulate private capital and increase own sources of financing of capital investments through introduction of effective depreciation policy. The economic mechanism of the effectiveness of investment and innovation activity of organizations is developed. It is proposed to establish mechanisms of relations between state and regional authorities regarding the development of investment and innovation activities on the basis of accelerating scientific and technological progress.

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