Intellectual Capital as a Component of the Capital Circulation in Accounting

The article studies intellectual capital as an object of accounting. It considers the place of intellectual capital in the general capital circulation. It provides a critical overview of opinions of domestic and foreign scientists in the field of economy and accounting on intellectual capital, issues of assessment of its significance in an organisation and reflection in accounting. It marks out different elements of intellectual capital and identifies possibilities of their reflection in accounting. It notes the growth of its importance when assessing companies in general in the context of development of globalisation processes. It also considers reports on intellectual capital published by major European and American companies and provides their characteristics. It conducts analysis of accumulation, development and use of intellectual capital in Ukraine. It makes a conclusion about the insufficient level of its accumulation and use by Ukrainian companies.