Importance Performance of profit-making entities is appraised with federal tools designated to watch innovative activities. Those tools exclude cost indicators, being biased and subjective due to drawbacks of the basic methods of expert assessment. Combining indicators derived with federal tools and our own indicators, we formed a new approach to evaluation of innovation. Objectives The research pursues forging financial and innovative methods to evaluate innovation of profit-making entities and substantiate the way those approaches are effectuated. Methods The theoretical and methodological framework comprises proceedings of the Russian and foreign scholars and practitioners, legislative and regulatory documents of the Russian Government, the Oslo Administration, and materials published in periodicals on innovation driven by profit-making entities. We also relied upon scientific approaches to studying the evaluation of profit-making entities' innovation, i.e. systems, analytical, situation- and process-based ones. Results We unfolded theoretical views on what constituted financial and innovative methods for evaluation of innovations. The article proves that it would be reasonable to adopt financial and innovative indicators in order to appraise innovative activities of profit-making entities. Conclusions and Relevance The article proposes to integrate financial and innovative methods for evaluation of profit-making entities' innovations through the synergy of Form 4 data and our own special indicators that describe financial and innovative activities of entities
Keywords: outsourcing, accounting, optimization, business process, online accounting
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