General Characteristics, Role and Importance of International Marketing Information System

In the centre of attention of Recovery Plan of the EU for period 2010-14 are, so called, “smart investments” which, during long-term, should ensure higher growth and sustainable prosperity. "Smart investments" mean investments in research and development (R&D) and investments in education from both public and private sources of funding. In order to stimulate higher investments in R&D activities by private sector it is recommended to use public – private innovation partnerships (direct way) as well as wider usage of R&D tax incentives (indirect way). As R&D tax approach has a strong policy impact, this paper will deal with different R&D tax (accounting) schemes and their impacts on financial performances of enterprises. As Bosnia and Herzegovina admitted International Accounting Standards (IAS) and International Financial Reporting Standards (IFRS) for its accounting framework, this paper will examine relevant IAS and IFRS in order to find out “positive” or “negative” effects of each R&D tax accounting scheme for proper financial treatment of R&D activities in enterprises. The overall aim of this paper is to answer the question: which R&D tax subsidy model would be the most appropriate one for B&H, respecting the present Legal and Accounting Framework, as well as cost and benefits of each recommended model?