DEVELOPMENT OF STRATEGIC ASSETS REPORTING

Abstract

The necessity of ensuring the strategic orientation of the financial accounting system by improving the enterprise’s strategic assets reporting has been grounded. Understanding of strategic assets of the enterprise as set of resources of the enterprise, which provide formation of its competitive advantages, has been offered. The purpose of writing the article is to improve approaches to the recognition and evaluation of strategic assets of the enterprise and the development of methods for their reflection in specialised accounting reports. There are two types of strategic assets of the enterprise (capitalised strategic assets that are reflected in the balance sheet of the enterprise in the form of traditional assets of the enterprise; non-capitalised strategic assets that are not separate objects of accounting) have been allocated. The method of identification of strategic assets of the enterprise in the accounting system is developed. The need to use the VRIO model (J.B. Barney, D.N. Clark) and summarise the results in the Report on Strategic Assets of the enterprise, which will be used by external stakeholders to make investment and loan decisions, is justified. The structure of the proposed Report is based on the 6-component structure of the Capital of the enterprise, the definition in the international integrated reporting framework (IR). The main reasons for the impossibility of imitating strategic assets by competitors have been identified and analyzed. The procedure for recognising strategic assets in the narrow sense in financial accounting has been developed. A model of compliance of certain types of strategic assets with the types of competitive advantages they provide has been formed. The expediency of conducting a parallel valuation of strategic assets at replacement cost in the financial accounting system has been suggested. The need to take into account such amount of costs that the company will have to spend in case of loss of a particular strategic asset during calculating the replacement cost of strategic assets is defined. A detailed structure of the Report on strategic assets of the enterprise has been developed. The mechanism of forming a Report on strategic assets of the enterprise and the advantages of its implementation for external users has been described.