Accounting for Commercial Use of Innovative Products

In today's business environment there is becoming increasingly important commercial process of using the results of scientific research. The article is devoted to development of an algorithm for indicating licensor and licensee's licenses as an asset. There are summarized the results of commercialization of research and high technology products of scientific and research institutions of the National Academy of Agrarian Sciences of Ukraine. There are analyzed the scientific approaches to indicating licenses in reporting and identified their shortcomings. There is revealed that essentially license agreements are most similar to lease agreements, which may be a reference point for substantiation of their accounting methods. There are explained the features of each type of licensing: exclusive, non-exclusive, single, open, sub-license. To indicate licenses in reporting there is offered certain first class sub-accounts and off-balance sheet sub-accounts, and according to the author if these accounts have the information, it will increase the level of accounting capitalization and investment attractiveness of business entities, and expand analyticity of indicators of financial and statistical reporting.