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Optimizing Accounting for Data Assets Helpful To Developing Sustainable Regional Economies

Author

Listed:
  • Minghui Liu

    (State Grid Zhejiang Electric Power Co., Ltd., China)

  • Xiaokang Chai

    (State Grid Zhejiang Electric Power Co., Ltd., China)

  • Wendi Xu

    (State Grid Zhejiang Electric Power Co., Ltd., China)

  • Jialu Chen

    (State Grid Zhejiang Electric Power Co., Ltd., China & Jinhua Power Supply Company, China)

  • Wenxin Qiu

    (Economic and Technological Research Institute of State Grid Zhejiang Electric Power Co., Ltd., China)

Abstract

This paper aims to develop accounting methods for data assets helpful to developing sustainable regional economic development within the digital economy. By considering data-asset characteristics such as virtuality and sharing, it proposes accounting treatments and processes for data-asset evaluation and management. Through a case study of Guangdong Power Grid Co., Ltd., the optimized method is evaluated. Results show a 70% increase in data-asset valuation compared to intangible assets, with a 17.8% growth in total profits. The method reduces asset-management costs by 3.67% and amortization by CN¥98,600. These findings highlight the importance of optimizing accounting methods for data assets able to foster sustainable regional economic development in the digital-economy era.

Suggested Citation

  • Minghui Liu & Xiaokang Chai & Wendi Xu & Jialu Chen & Wenxin Qiu, 2024. "Optimizing Accounting for Data Assets Helpful To Developing Sustainable Regional Economies," Information Resources Management Journal (IRMJ), IGI Global, vol. 37(1), pages 1-17, January.
    • Handle: RePEc:igg:rmj000:v:37:y:2024:i:1:p:1-17
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