INFORMATION TECHNOLOGIES ASSETS: IDENTIFICATION, INTEGRATION AND REFLECTION IN ACCOUNTING

Abstract

IT assets have become important elements in all sectors of the economy, as they are able not only to support the functioning of the business, but also to increase operational efficiency and improve competitive advantages. Nowadays, they shape and transform business and even create new business realities. However, IT assets do not make sense without other corporate assets and do not create value by themselves. The IT system coordinates and ensures efficiency, combining assets in a unique way to create added value and net cash flow. Strategic investments change the position of firms in the market, supporting the entry into a new market or the development of new products, services or business processes. It is substantiated that investments in various IT assets are determined by firms' strategies and generate value in terms of performance parameters in accordance with their strategic goal.

Investments in information technology assets are grouped by the following areas: strategic, infrastructure, information and transaction assets. The purpose of investments in specific groups of IT assets, expected benefits and options for use have been considered. The actualization of this direction also requires investments in assets other than IT, the use of which will ensure the production of new types of products, services, storage of products and goods, etc.

It is determined that the objects of information technology assets accounting are high-tech and have both tangible and intangible parts. Economic entity, having determined that an IT asset includes both intangible and tangible elements, has to use judgment in assessing which is more significant.

In practice, situations are possible when the physical component of the accounting object is depreciated more than the intangible one. The value of an intangible component in the process of use may increase. In this case, replacing, if possible, the physical part of the object before the end of its useful life is recommended.