Theoretical aspects of specific assets accounting: institutional approach

Abstract

The reasons for the necessity of using of a new institutional economic theory for the further development of accounting in Ukraine is grounded. The institutionalists’ tendency of the transition from the research of the role of transaction costs in the enterprise activity to the analysis of the peculiarities of investments in specific assets of the enterprise is identified. The types of the selected assets, depending on the level of their specificity, are analyzed. The types of assets classified according to their specifics, and are substantiated. The role of the concept of specific assets for the further development of accounting are revealed. The three main directions of application of the concept of the specific assets in the context of the development of accounting science are highlighted and substantiated; they are: 1) the allocation of specific assets in the general structure of the assets of the enterprise; 2) the development of accounting outsourcing in the context of understanding of the accounting service staff as one of the types of specific resources; 3) the understanding of accounting information as a specific asset of the enterprise.

Keywords

• specific assets
• idiosyncratic assets
• institutional accounting theory