Methods for improving the financial stability of science-intensive international projects at the R&D stage

Subject. This article analyzes various accounting methods and approaches to cost accounting at the Research, Development, Test, and Evaluation (RDT&E) stage based on IFRS, aimed at reducing losses of the current period and improving the efficiency and financial stability of science-driven and high-tech international projects. Objectives. The article aims to develop an algorithm for accounting for capitalized costs in the correspondence of accounts and its visualization in the flowchart format. Methods. The research is based on the basic principles of the theory of firm, the International Financial Reporting Standards (IFRS), Russian Accounting Standards, the Tax Code of the Russian Federation, and the theory of fundamental value of assets. Results. The article proposes a procedure for accounting for capitalization of costs at the R&D stage based on IFRS, aimed at improving the financial stability of the project and its net present value. Conclusions. The method of cost capitalization at the RDT&E stage is an effective accounting tool for managing the value and financial stability of the project. Applying the cost capitalization method at the RDT&E stage causes an increase in the net present value of the project and the market value of the company during the period of mass production due to discounting and redistribution of deferred income taxes over time. Applying the cost capitalization method causes a certain decrease in turnover and the return on assets, however, as soon as the production got the stationary mode and the average industry values of the return on equity are reached, this does not significantly affect the project performance indicators.