Abstract
This paper presents a study of scientific literature on the valuation of innovation in the area of traditional and modern accounting. Innovations are intangible assets of company that create value in long term, but that value is not always properly recognized as intangible assets. In traditional accounting innovations usually are recognized as an expense and are not covered by the concept of asset as they do not meet the strict recognition criteria. Integrated reporting (as a part of social accounting) could be a way of innovative accounting used to assess innovation from the perspective of the creation of company's value
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