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International Accounting
 

The innovation center as part of strategic management accounting

Vol. 24, Iss. 4, APRIL 2021

Received: 11 February 2021

Received in revised form: 25 March 2021

Accepted: 1 April 2021

Available online: 15 April 2021

Subject Heading: Managerial accounting

JEL Classification: M49

Pages: 407–421

https://doi.org/10.24891/ia.24.4.407

Lyudmila V. SHALAEVА Perm State Agro-Technological University named after Academician D.N. Pryanishnikov (Perm SATU), Perm, Russian Federation
shalaewa2013@yandex.ru

https://orcid.org/0000-0002-9411-0061

Subject. In the article, I select and substantiate an effective strategy for innovation. To control its implementation, there should be a reliable database, which may proceed from modern statistical accounting as it splits the governance into financial responsibility centers.
Objectives. I substantiate ways to sort out the data flow as part of strategic management accounting by innovation center, considering the strategic management system decentralized by financial responsibility centers.
Methods. To set up practical guidelines, I referred to proceedings of the Russian and foreign scholars. I used methods of analysis, synthesis, and generalization.
Results. I indicate how the accountable competence of the innovation center can be structured, so as to determine the goal, objectives, functions and aspects it is to deal with. The article also presents the composition and scope of strategic management accounting the center is to keep.
Conclusions and Relevance. The focus areas to be structured in the accountable competence of the innovation center will contribute to the advancement of methodological principles of strategic management accounting and reporting, a better quality of information supplied for the strategic management system and the higher efficiency of administrative decisions on innovation. The findings are of practical importance for adjusting the development of the innovation strategy and control over the performance and efficiency of investment processes and, consequently, the increment in the market value of the company.

Keywords: innovation, innovation center, strategic accounting, strategic reporting

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