Architecturing knowledge financial statements
by Ahmed A. Mohammad
International Journal of Critical Accounting (IJCA), Vol. 5, No. 6, 2013

Abstract: This paper discusses and introduces architecture of what can be called 'knowledge financial statements' that highlight drivers, priorities, and strategies of the knowledge practices. With the advent of knowledge economy, accounting models have become obsolete and no longer valid to absorb requirements of knowledge businesses. This paper argues how to architect knowledge (or soft financial statements) by examining the key shortcomings of the conventional (or hard financial statements) in the knowledge era. Examination of the huge body of accounting, knowledge management, and innovation literatures and practices has provided the building blocks and logical infrastructure of knowledge financial statements. Plus, the professional survey of 88 academicians, practitioners, and professionals across high change industries has been used to discover the extent of need to restructure the conventional financial statements toward a knowledge set. The statistical analysis of the 24-item questionnaire has shown a varied level of impact of knowledge practices on the financial statements' validity and reliability. Finally, this paper frameworks some of the unique drivers and items of knowledge financial statements in view of the knowledge necessities and priorities.

Online publication date: Tue, 29-Apr-2014

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