Accounting Theory Challenges and Reflections on the Balance Sheet Recognition of Public Data Resources

Public data resources serve as fundamental strategic resources for advancing the cultivation of new quality productive forces and promoting high-quality economic and social development. To fully unlock their value potential, it is imperative to establish an accounting institutional system that supports the balance sheet recognition of public data resources. Based on a systematic review of academic literature and policy evolution, this paper analyzes the theoretical challenges in defining accounting entities, recognition, measurement, recording, and reporting when incorporating public data resources into financial statements. The study proposes that, based on the government accounting entities, the definition of assets should be revised and an identification mechanism for public data resources eligible for balance sheet recognition should be introduced. Meanwhile, an accounting measurement framework should be designed to incentivize government accounting entities to explore value realization scenarios, and a framework for accounting recording and reporting should be constructed on the basis of further classification of public data resources. The findings provide valuable insights for advancing the innovation of public data asset accounting system and promoting assetization of public data in China.