Accounting for Financing of the Enterprise's Innovation Activities

To increase the competitiveness an economic entities are forced to respond to new market needs, which is impossible to do without innovation. The main source of financing the innovative projects remains the profit of the enterprise. In the case of external financing, investors will want to receive information on the effectiveness of the use of the funds invested by them, which requires proper accounting of the financing received by the enterprise and the corresponding reporting. The purpose of the article is to substantiate the methodical support of accounting for possible ways of financing innovation activities and the implementation of innovative projects. The sources of financing the innovative projects of enterprises were systematized and classified: according to the direction of origin of investments, the number of participants, the type of property of invested funds and the type of effect obtained from investing in innovations. The combined form of financial support for innovative development was distinguished. The necessity of accounting for financing the innovative projects in the enterprise's activities was substantiated. It was revealed that the current Chart of accounts does not provide for a separate account to accounting for innovation. Therefore, it was proposed to reflect the costs for the innovative projects implementation in separate analytical accounts in the context of operating and investment accounting. Correspondence of accounts was formed taking into account the financing of innovative projects: targeted, bank lending, investment with a share in the capital of the issuing company, venture financing and crowdfunding. Separate subaccounts were proposed for accounting for targeted financing of projects from the state budget and from other sources: 485 Target financing of innovative projects from the budget (federal, regional, local); 486 Targeted financing of innovative projects at the expense of legal entities and individuals.