The essence of investment and innovation activity is investigated, the relationship between them is established. Selected objects and subjects of innovation activity. Innovative objects include: innovative programs and projects; new knowledge and intelligent products; organizational and technological, production and administrative decisions that improve the structure and quality of production and social sphere; commodity products. Mostly, the objects of innovation activity are in the form of an innovative project – a set of documents that defines the procedure for all necessary measures for the creation and implementation of an innovative product or innovative products. The stages of the innovation process are described and its forms are distinguished. The types of implementation of innovation activity at the enterprise are determined. It is proved that the development, creation and implementation of innovations are related to investments. Investment activity ensures the transformation of funds, diversified resources, scientific developments, organizational and technical solutions, competitive technologies into qualitatively new fixed assets, other non-negotiable tangible and intangible assets. The sources of financing of innovations in the world practice and according to the state statistics are given. It is determined that the most common sources of financing for innovations are: profit, depreciation and statutory capital. Taking into account the relationship between investment and innovation activities, it is proposed to change the name of the investment activity of the enterprise into «investment-innovation», which will ensure the systematic formation of information, since in the reporting provided by national entities, information about innovation is in a dispersed and not systematic form. Also, changes should be made to the names of accounting accounts and accounting registers.