Knowledge-based organizations: An accounting point of view

The aim of this chapter is to propose an accounting-based view for studying knowledge-based organizations and their value creation process. The chapter uses the notion of Value Added (VA) as the main indicator to measure value creation in a knowledge economy context. A framework can be constructed to evaluate different aspects of knowledge-based organizations and strategies. The research builds on the concept of Value Added Intellectual Coefficient (VAIC) and on the further developments already carried out by the authors. The framework is developed by considering two main concepts: (i) the concept and the calculation of the knowledge worker productivity; (ii) the concept of the measurement of value creation for stakeholders (vs value creation for shareholders). The two concepts represent important directions for future research in the field. Some important limitations are presented, including the inability to measure sustainability from an overall point of view.