INTELLECTUAL CAPITAL PERFORMANCE REPORTING MODELS

Ana Milijić – Innovation Center, University of Niš, University Square 2, 18000 Niš, Serbia

Vanja Vukojević – Innovation Center, University of Niš, University Square 2, 18000 Niš, Serbia

DOI: https://doi.org/10.31410/ERAZ.2020.279

6th International Conference – ERAZ 2020 – KNOWLEDGE BASED SUSTAINABLE DEVELOPMENT,  Online/virtual, May 21, 2020, CONFERENCE PROCEEDINGS

Published by: Association of Economists and Managers of the Balkans – Belgrade, Serbia

Conference partners: Faculty of Economics and Business, Mediterranean University, Montenegro; University of National and World Economy – Sofia, Bulgaria; Faculty of Commercial and Business Studies – Celje, Slovenia; Faculty of Applied Management, Economics and Finance – Belgrade, Serbia

ISSN 2683-5568, ISBN 978-86-80194-33-2, DOI: https://doi.org/10.31410/ERAZ.2020

Abstract

For a knowledge-based economy, the basic drivers of economic growth and development
are the knowledge, innovation and specific skills of individuals whose „incorporation” into a product/
service makes them attractive to customers in the market according to the needs of the 21st century.
Thus, in the era of the knowledge economy, individuals with their knowledge, specific abilities and skills
represent the basis for creating and maintaining a competitive advantage in the market. However, the
traditional financial reporting model cannot fully meet the information requirements of users of 21st
century financial statements due to the limited absorption of data concerning the company’s ownership
of intangible resources such as knowledge, specific skills of employees and other intellectual resources.
In order to fully, reliable and truthful business reporting Many companies choose to voluntarily report
on non-financial performance through various reports such as the Business Report and the Notes to the
Financial Statements. The aim of this paper is to present modern models of reporting on intellectual
capital and to point out possible directions of their further development in the future. Also, in this paper,
special emphasis is placed on segments of business assets whose balance sheet (non) coverage leads to
significant differences between the book and market values of companies.

Key words

Reporting, Intellectual capital, Intangible asset.

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