Accounting small business: national and international standards

Auditor ◽  
2015 ◽  
Vol 1 (1) ◽  
pp. 94-100 ◽  
Author(s):  
Филобокова ◽  
L. Filobokova
Keyword(s):  
National Economy ◽  
Small Businesses ◽  
Legal Regulation ◽  
Global Market ◽  
International Standards ◽  
Competitive Environment ◽  
Accounting System ◽  
Industry Standards ◽  
Medium Businesses ◽  
The Relationship

From 1 January of the current year, the legal regulation of accounting is a system of Federal and industry standards, with a given vector of development and reform of the national accounting system in the direction of the IFRS and the presence of an appropriate standard for small and medium businesses, strategically expand the circle of participants in the relationship and provides small businesses access to the global market, which is considered by the author as one of the most important conditions for increasing competitiveness and fostering a competitive environment in the national economy.

scholarly journals Sustainable Development in China and Russia: Comparative Legal Research

2021 ◽  
Vol 8 (2) ◽  
pp. 152-167
Author(s):  
X. Fangkun ◽  
N. Symaniuk
Keyword(s):  
Sustainable Development ◽  
Legal Regulation ◽  
International Standards ◽  
Legal Analysis ◽  
Legal Research ◽  
Relevant Today ◽  
The Relationship ◽  
National Systems ◽  
Do So

This article examines the specifics of legal regulation of sustainable development in China and Russia. This topic is exceptionally relevant today since legal regulation of this area should create effective frameworks for the relationship between people and nature. The authors draw attention to the fact that sustainable development is better implemented when it is supported both by international standards and, necessarily, by national laws. The approaches then that China and Russia, both member countries of the BRICS bloc, are taking in implementing sustainable development are of importance, and thus described and contrasted in this study. To do so, the authors apply the comparative legal analysis, which makes it possible to distinguish both the advantages of international and national systems and the disadvantages. Based on their methodology, the authors formulate possible recommendations for each nation.

Accounting development in a changing environment: the case of Tunisia

2017 ◽  
Vol 59 (5) ◽  
pp. 756-775 ◽  
Author(s):  
Fatma Ben Slama ◽  
Mohamed Faker Klibi
Keyword(s):  
Developing Countries ◽  
Environmental Factors ◽  
Small Businesses ◽  
Accounting Standards ◽  
International Standards ◽  
International Accounting ◽  
Accounting System ◽  
International Accounting Standards ◽  
Public Interests ◽  
Content Type

Purpose The purpose of this paper is to discuss accounting development in Tunisia, which is a developing North African country little known in the international accounting literature. Design/methodology/approach Methodologically, this paper is based on an exploratory approach. It uses the descriptive tradition of research by collecting and analyzing numerical and narrative data to identify and describe environmental factors that favor or hamper accounting development in Tunisia. Findings This paper indicates that Tunisian companies have been applying the Enterprise Accounting System (EAS) since 1996. This system, while keeping with the logic of a chart of accounts, represents a first attempt to harmonize with international accounting standards. Accounting harmonization in Tunisia is meant to support the strategy, launched in the early 1990s, to integrate the country into the globalization process. Accordingly, the EAS has helped to achieve macroeconomic benefits (public interests). However, it does not lead to the desired level of financial transparency (private interests), especially that of large companies. Currently, Tunisian Accounting Standards neither reflect the rapid evolution of business activity nor changes in international accounting standards. This unachieved harmonization has led some listed companies to comply with some International Financial Reporting Standards which are not included in the EAS. Research limitations/implications The unachieved harmonization in Tunisia is mainly related to the political system, taxation factors, the legal system, the weak state of corporate governance and governmental control over standardization. Practical implications This paper provides insights into the problems of developing countries that harmonize with international standards to achieve public interests. These countries may encounter many difficulties in bringing their accounting standards up to date. These difficulties seem to be associated with environmental specificities. Accordingly, international standardization bodies and developing country regulators should take into account environmental factors which are determinant for the harmonization decision to succeed. Originality/value This paper contributes to the existing literature on accounting development in developing countries. It implies that recent accounting development, as it is designed in Tunisia, is better suited to the needs of small businesses. Large companies would be compelled to complement local generally accepted accounting principles by standards they choose, voluntarily, among international standards.

scholarly journals ACCOUNTING FOR CREDIT OPERATIONS IN BANKS UNDER THE COVID-19 PANDEMIC CONDITIONS

2021 ◽  
Vol I (81) ◽  
pp. 84-101
Author(s):  
Yulia Manachynska ◽  
◽  
Volodymyr Yevdoshchak ◽  
Keyword(s):  
Interest Rates ◽  
National Economy ◽  
Small Businesses ◽  
System Analysis ◽  
Research Abstract ◽  
Balance Sheet ◽  
Bank Credit ◽  
Accounting System ◽  
Micro Enterprises ◽  
Legal Entities

The period of corona crisis prompted the emergence of new challenges for domestic corporate and individual businesses. In particular, small, medium-sized businesses and micro-enterprises experienced a significant lack of financial resources and an urgent need for credit funds. For the first time in history the banking system of Ukraine provided support ACCOUNTING, ANALYSIS AND AUDIT Issue I (81), 2021 85 on the appropriate lending level to both the corporate sector and individual borrowers during the crisis. The Cabinet of Ministers of Ukraine has developed and actively implemented in practice the Program “Affordable Loans 5-7-9%” by a number of banks which has become a kind of impetus to support small and medium enterprises. For the year of the COVID-19 pandemic during the quarantine regime banks have successfully and timely conducted restructuration, as evidenced by the Report on the Comprehensive Program Implementation for the Ukrainian Financial Sector Development in 2020. The information base for timely credit operations recording by banks is the traditional bank accounting system, which is implemented by modern, specialized banking software through the prism of balance sheet accounts in the context of the national economy comprehensive digitalization. This, in its turn, determines the study relevance. The purpose of the article is to study and substantiate the peculiarities of accounting for bank credit operations to small, medium-sized businesses and micro-enterprises in the context of the COVID-19 pandemic. In the research process general scientific theoretical methods of cognition were used: system analysis – to clarify the main categories of research; abstract-logical method – to conduct theoretical generalizations and conclusions about the current level of lending to corporate and individual borrowers by banks, tabular method – to visualize the typical correspondence of accounts for fixing in the accounting system of bank credit operations to corporate and individual borrowers, as well as schedules formation for loan repayment. The article substantiates modern approaches to the classification of bank loans, identifies the features of documenting credit transactions for legal entities – borrowers. The specifics of lending methods and forms of loan accounts at banking institutions are revealed. The accounts characteristics used for the accounting of operations on bank clients’ crediting are provided. On the example of JSC “Oschadbank” the authors reveal the main aspects of the credit case formation, specifics of interest accruing on loans method, as well as commissions and features of bank credit operations reflection in accounting. The necessity for further lending to domestic medium and small businesses, except for vulnerable industries, at low interest rates by banks in order to successfully overcome crisis manifestations in the economy and to attain national economy revival as a whole has been proved. The peculiarities of banks credit operations accounting for small and medium business as well as micro-enterprises of Ukraine are comprehensively and broadly substantiated. It enables to follow the loan issuance algorithm, such procedure documentation, interest accrual method and specifics of their reflection in the accounting system as the main source for domestic entrepreneurship financial support in the context of the COVID-19 pandemic. Prospects for further research consists of theoretical and practical justification of the need for legal entities and individuals comprehensive refusal from cash turnover; directing efforts to further digitalization and country's population transition to online bank payments; directing the settlement and payment discipline to non-cash turnover; substantiation of accounting reflection peculiarities of such settlement operations between individuals and legal entities in the banks accounting system in the context of IFRS.

scholarly journals International standards on the rights of convicted persons in places of imprisonment

2021 ◽  
Vol 39 (68) ◽  
pp. 121-135
Author(s):  
Vadym Pidgorodynskyi ◽  
Vadym Tykhonenko ◽  
Dmytro Tsekhan ◽  
Petro Kaminskyi ◽  
Serhii Kravchenko
Keyword(s):  
International Law ◽  
Research Methods ◽  
Social Relations ◽  
Legal Regulation ◽  
International Standards ◽  
Cultural Changes ◽  
Crime And Punishment ◽  
The Subject ◽  
Key Aspects ◽  
The Relationship

The relationship between crime and punishment has never been isolated. Under the influence of socio-economic, political, and cultural changes, metamorphoses of the institution of execution of punishments took place; in particular, the rights of convicts were liberalized. Therefore, it is necessary to analyze the historiography of this phenomenon in terms of international standards, as well as the peculiarities of their implementation. The work aims to characterize the implementation of international standards on the rights of prisoners in terms of historiography and legal regulation. The object of research is the norms of international law. The subject of the study is social relations that arise in the implementation of international standards on the rights of convicts in prisons. The research methods were dialectical, systemic, structural, formal-legal, historical-legal, methods of analysis, synthesis, induction, and deduction. As a result, international standards for the rights of prisoners serve as a model, an example of rational social relations in the penitentiary environment. Key aspects that should be universally considered by the governments of all countries are identified and described.

Moderating Effect of Access to Finance and Competitive Environment on Human Capital, Knowledge Management, Market Orientation and SMES Performance

2020 ◽  
Vol 11 (1) ◽  
pp. 105-105
Author(s):  
Mohd Noor Mohd Shariff ◽  
Khansa Masood ◽  
Halim Mad Lazim
Keyword(s):  
Human Capital ◽  
Knowledge Management ◽  
Firm Performance ◽  
Market Orientation ◽  
Competitive Environment ◽  
Leather Industry ◽  
Access To Finance ◽  
Economic Development And Growth ◽  
Dependent Variables ◽  
The Relationship

Small and medium enterprises (SMEs) are considered as foundation stones of economic development and growth of any economy (Centobelli, Cerchione, & Esposito, 2019). Performance of SMEs is of fundamental significance for all developed as well as developing nations. Similarly, Pakistan is no exception to aforementioned fact. The economic development and growth of Pakistan depend on the performance of SMEs to a great extent. Like, most countries in the world, SMEs comprise more than 90% of total business entities in Pakistan (Degong et al., 2018; Waqas & Nawaz, 2019) and leather industry in one that is attracted by the researchers of present study. Constraints in the growth of leather industry of Pakistan include, lack of skilled human capital, rising cost of production, lack of modern-day knowledge about new products and processes, low profitability and lack of capability to penetrate into international markets, lack of market research, access to finance, intensive competitive rivalry (Khalique et al., 2011; Daily Times, 2016, Awan et al., 2019). Few studies have revealed mixed findings regarding the relationship between knowledge management and firm performance and there is abundance of literature that demonstrates the presence of significant and positive relationship between Market Orientation and Firm performance (Slater & Narver , 1995; Baker & Sinkula, 2009; Udriyah, Tham, & Azam, 2019). On the other hand, some studies have argued that there is no direct and significant relationship between Market Orientation and Firm Performance (Polat & Mutlu, 2012; Shehu & Mahmood, 2014). Moreover, keeping in view the mixed and inconclusive findings regarding the relationship between cause and effect variables, it is appropriate to introduce moderating variables that can significantly influence the relationship between independent and dependent variables as recommended by Baron and Kenny (1986). Access to Finance and Competitive Environment can be served as prospective moderators which are quite appropriately related to proposed variables of the study (Prajogo & Oke, 2016; Rogo et al., 2016; Jaworski & Kohli, 1993) which are quite appropriately related to selected variables of the study. Thus, the research problem expressed that "Access to finance and competitive environment can potentially moderates and affect the relationship between independent and dependent variables. Hence, based on the past literature and aforementioned discussion, the present study intended to examine the moderating effects of Access to Finance and Competitive Environment on the Relationship between Human Capital, Knowledge Management, Market Orientation and SMEs Performance in Leather Industry of Pakistan". Keywords: Small medium enterprise, performance, access to finance, competitive environment

Taxation Issues for Digital Financial Assets

2021 ◽  
pp. 089443932110039
Author(s):  
Viktor Shestak ◽  
Alla Kiseleva ◽  
Yuriy Kolesnikov
Keyword(s):  
Russian Federation ◽  
Income Tax ◽  
Legal Regulation ◽  
Capital Gains ◽  
International Standards ◽  
Financial Assets ◽  
State Budget ◽  
The Russian Federation ◽  
Digital Assets ◽  
Tax Accounting

The objective of the study is to determine the status of a digital financial asset and the features of its taxation in the Russian Federation and progressive countries. Currently, there are three main taxation models that are used in this area: income tax, corporate income tax, and capital gains tax. The article explores the prospects for introducing the experience of foreign countries in the Russian Federation. The possible changes that may occur in tax regulation are analyzed. The experience of leading countries in the field of legal regulation of the use of digital financial assets and the taxation of cryptocurrency transactions is analyzed. Such an analysis will allow Russia to keep pace with countries with a leading economy and at the same time increase state budget revenue through taxation of cryptocurrency transactions. The study provides an analysis of the conceptual scenarios of digital income taxation and objects of taxation in the process of cryptocurrency creation. The study critically assesses possible options for applying international standards for tax accounting of digital assets. Groups of problematic issues that arise in the tax accounting of digital assets are developed. The prospect of further research is the development of tax accounting methods for each of the established entities for the creation and circulation of digital financial assets in accordance with accounting objects.

scholarly journals Evaluation of Trace Metal Levels in Tissues of Two Commercial Fish Species in Kapar and Mersing Coastal Waters, Peninsular Malaysia

2012 ◽  
Vol 2012 ◽  
pp. 1-10 ◽  
Author(s):  
Fathi Alhashmi Bashir ◽  
Mohammad Shuhaimi-Othman ◽  
A. G. Mazlan
Keyword(s):  
Trace Metal ◽  
Fish Species ◽  
Coastal Waters ◽  
Positive Association ◽  
Peninsular Malaysia ◽  
International Standards ◽  
Metal Concentrations ◽  
Commercial Fish ◽  
Metal Levels ◽  
The Relationship

This study is focused on evaluating the trace metal levels in water and tissues of two commercial fish species Arius thalassinus and Pennahia anea that were collected from Kapar and Mersing coastal waters. The concentrations of Fe, Zn, Al, As, Cd and Pb in these coastal waters and muscle, liver and gills tissues of the fishes were quantified. The relationship among the metal concentrations and the height and weight of the two species were also examined. Generally, the iron has the highest concentrations in both water and the fish species. However, Cd in both coastal waters showed high levels exceeding the international standards. The metal level concentration in the sample fishes are in the descending order livers > gills > muscles. A positive association between the trace metal concentrations and weight and length of the sample fishes was investigated. Fortunately the level of these metal concentrations in fish has not exceeded the permitted level of Malaysian and international standards.

The dynamics of regional and global expansion

2015 ◽  
Vol 23 (4) ◽  
pp. 306-327 ◽  
Author(s):  
Christian Geisler Asmussen ◽  
Bo Bernhard Nielsen ◽  
Tom Osegowitsch ◽  
Andre Sammartino
Keyword(s):  
Design Methodology ◽  
Global Market ◽  
Market Penetration ◽  
Content Type ◽  
Global Expansion ◽  
Rates Of Change ◽  
Global Space ◽  
The Impact ◽  
The Relationship ◽  
Over Time

Purpose – The purpose of this paper is to model and test the dynamics of home-regional and global penetration by multi-national enterprises (MNEs). Design/methodology/approach – Drawing on international business (IB) theory, the authors model MNEs adjusting their home-regional and global market presence over time. The authors test the resulting hypotheses using sales data from a sample of 220 of the world’s largest MNEs over the period 1995-2005. The authors focus specifically on the relationship between levels of market penetration inside and outside the home region and rates of change in each domain. Findings – The authors demonstrate that MNEs do penetrate both home-regional and global markets, often simultaneously, and that penetration levels often oscillate within an MNE over time. The authors show firms’ rates of regional and global expansion to be affected by their existing regional and global penetration, as well as their interplay. Finally, the authors identify differences in the steady states at which firms stabilize their penetration levels in the home-regional and the global space. The findings broadly confirm the MNE as an interdependent portfolio with important regional demarcations. Originality/value – The authors identify complex interdependencies between home-regional and global penetration and growth, paving the way for further studies of the impact of regions on MNE expansion.

Research on the Impact of Information Security Certification and Concealment onFinancial Performance

2022 ◽  
Vol 30 (3) ◽  
pp. 0-0
Keyword(s):  
Information Security ◽  
Financial Performance ◽  
Positive Impact ◽  
Rapid Development ◽  
International Standards ◽  
Corporate Decisions ◽  
Using Data ◽  
The Impact ◽  
The Relationship ◽  
Iso 27001

With the rapid development of information technology, information security has been gaining attention. The International Organization for Standardization (ISO) has issued international standards and technical reports related to information security, which are gradually being adopted by enterprises. This study analyzes the relationship between information security certification (ISO 27001) and corporate financial performance using data from Chinese publicly listed companies. The study focusses on the impact of corporate decisions such as whether to obtain certification, how long to hold certification, and whether to publicize information regarding certification. The results show that there is a positive correlation between ISO 27001 and financial performance. Moreover, the positive impact of ISO 27001 on financial performance gradually increases with time. In addition, choosing not to publicize ISO 27001 certification can negatively affect enterprise performance.

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