Internally generated intangible assets: features of recognition and directions for improving accounting

Abstract

The expediency of improving the current accounting methodology of internally generated intangible assets has been grounded. The criteria for the recognition of internally generated intangible assets in accordance with national and international accounting standards have been analyzed. The features of accounting for internally generated intangible assets according to GAAP US have been disclosed. The order and types of costs capitalized as part of the value of intangible assets have been considered. The proposals of domestic and foreign scientists on improving the accounting procedure for the costs of research and development have been analyzed. The influence of research and development costs on the performance of Ukrainian and American pharmaceutical enterprises based on the use of the multiple linear regression model has been determined. The necessity of improving the accounting of research and development costs by taking into account industry specifics, expanding the possibilities of applying professional judgment and disclosing detailed information in specialized reports has been grounded. «Soft» ways to improve the accounting organization system in order to provide relevant information about the process of creating intangible assets at the enterprise have been suggested.

Keywords

• internally generated intangible assets
• recognition criteria
• research and development costs
• innovations