Improving the analysis and assessment of the economic efficiency of investments for the creation of innovative products in industrial organizations

The application of innovations for the effective development of industry requires the search for sources of investment. The study developed theoretical provisions and practical recommendations for the development of management accounting for investments related to the creation of innovative products in the industry. The construction of an investment management system for innovative development should be based on modern principles and methods of the innovative economy, taking into account the requirements of international standards. It is necessary to use the concepts and methods of investment and innovation management, such as strategic control, management accounting, functional analysis and cost analysis, modern and classical methods for evaluating the effectiveness of investments and innovations, etc. To reflect the profitability indicators, a workflow system for planning, accounting for investments in the creation of innovative products is proposed. The economic efficiency of an innovative project can be determined based on existing practice based on investment and expected income. The paper presents the proposed methodology for calculating the effectiveness of investments in the creation of innovative products.