Recognition of Data Assets in Financial Statements: A Systematic Literature Review on Concept Discrimination, Accounting Treatment and Management Systems

Vollständiger Abstract

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In the context of the rapidly growing digital economy, data has become an essential component of production, and the recognition of data assets in financial statements and the related accounting problems have also drawn much of the attention of scholars and the business world. It is through this research that a systematic literature review methodology is used to follow the conceptual development and definitional requirements of data assets in the local, as well as in global environments, defining the conceptual distinctions among data assets, digital assets, and information assets. Viewing this study through the lens of managerial accounting, the research synthesizes a management structure of data assets and summarizes the pragmatic approaches followed by companies in various ownership structures. Moreover, it is a systematic overview of the available literature on the issue of the recognition of data assets, their evaluation, further measurement, and reporting, and analyzes the practical value of the recognition of data assets in financial statements. There are a number of weaknesses in existing research indicated by the findings, such as: no uniform operating principles of rights and allocation of rights in the sphere of data assets; the absence of industry-based specific details of accounting measurement, as well as amortization and impairment; inadequate detailing and low practicality of the disclosure system; and the lack of empirical experiments and various case studies that can be used to facilitate the introduction of management systems. In turn, the present study suggests directions for further research. The result of refining the basic theoretical framework of data assets and filling the gaps in the research in the field is to offer practical references to the financial-statement recognition of data assets in Chinese enterprises and the development of industry-specific accounting standards.