scholarly journals Evaluation of institutional and financial factors of the international financial reporting standards foundation management from the perspective of the Eurasian Economic Union

2021 ◽  
Vol 27 (9) ◽  
pp. 2139-2157
Author(s):  
Mikhail V. RODCHENKOV
Keyword(s):  
Financial Reporting ◽  
Financial Structure ◽  
International Standards ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Growth Strategies ◽  
Economic Interests ◽  
Financial Reporting Standards ◽  
National Representation ◽  
The Impact

Subject. The article addresses the impact of modern institutional and financial structure of the IFRS Foundation on the quality and functionality of international financial reporting standards. Objectives. The purpose is to identify risk factors in the activities of the IFRS Foundation caused by its institutional and financial structure, considering the previously highlighted problems of the IFRS Foundation management. Methods. The study draws on the comparative analysis of the content of the IFRS and the statistical data on quantitative characteristics of the IFRS Foundation’s regulatory bodies. Results. The institutional and financial structure of the IFRS Foundation is characterized by the disproportion of the current national, sectoral and financial representation in the management bodies of the Foundation. This creates risks of inharmonious development of IFRS. The EEU current position is marked by a significant imbalance between functional and financial representation in the Foundation's management system. It is possible to mitigate identified risks in the development of the IFRS system, if the revealed imbalances are reduced through diversifying the industry representation, introducing financial participation coefficients and national representation into the practice of the Foundation's management. Conclusions. The formulated proposals can be useful for the authorized federal governing bodies of the Russian Federation and the EEU governing bodies, when developing growth strategies in the field of accounting and reporting, determining the focus of efforts to improve international standards, ensuring the protection of the national economic interests of the EEU countries in the activities of the IFRS Foundation in modern conditions.

The Impact of the Application of International Financial Reporting Standards in Increasing the Efficiency of the Iraqi Tax System

2021 ◽  
Vol 39 (11) ◽  
Author(s):  
Majid Gazi Hasan ◽  
Bahaa Al-Din Fareed Madhe ◽  
Mostafa ABD Alhussein Almansoori
Keyword(s):  
Financial Reporting ◽  
Vital Role ◽  
International Standards ◽  
Accounting Education ◽  
University Education ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Tax System ◽  
Financial Reporting Standards ◽  
The Impact

The research aims to study the impact of obstacles to the application of international financial reporting standards in Iraq and study the impact of the application of international financial reporting standards in raising the efficiency of the Iraqi tax system. The researchers used a questionnaire to test the research hypotheses and achieve its objectives. Where (75) questionnaire forms were distributed to a selected sample of professionals (auditors and employees of the Arab Finance Bureau), and academics (university professors), and (64) questionnaires were retrieved valid for analysis with a response rate of (85%). The data contained in the questionnaire were analyzed using the statistical program (SPSS). The study reached a set of conclusions, the most important of which is the weak economic infrastructure and the weak accounting education related to international financial reporting standards. Moreover, there is a vital role in applying international financial reporting standards in raising the efficiency of the tax system. While the most critical recommendations were that integration and coordination should be achieved between professional institutions and Iraqi universities to raise the level of university education related to international accounting standards and find training programs that contribute to raising the knowledge of accountants and auditors with international standards. The tax legislator and the tax authority should also rely on the data contained in the financial statements in determining taxable income.

scholarly journals Assessing the institutional and financial factors of the IFRS Foundation management from the perspective of the Eurasian Economic Union

2021 ◽  
Vol 26 (4) ◽  
pp. 470-482
Author(s):  
Mikhail V. RODCHENKOV
Keyword(s):  
Financial Reporting ◽  
Management System ◽  
Financial Structure ◽  
International Standards ◽  
Growth Strategies ◽  
Financial Reporting Standards ◽  
Eurasian Economic Union ◽  
Public Data ◽  
Economic Union ◽  
The Impact

Subject. This article explores the impact of the modern institutional and financial structure of the IFRS Foundation on the quality and functionality of the international financial reporting standards, as the main instruments of globalization of the financial and economic sphere, caused by insufficiency in the management of the IFRS Foundation. Objectives. The article aims to identify the reasons for the growth of risk factors in the IFRS Foundation’s activities caused by its institutional and financial structure, taking into account the previously identified problems of the IFRS Foundation management, assess the position of the Eurasian Economic Union (EEU) in the IFRS management system, and develop practical proposals to minimize the identified risks. Methods. For the study, I used a comparative analysis. Results. The article finds that the institutional and financial structure of the IFRS Foundation is characterized by disproportion of the current national, sectoral, and financial representation in the Foundation’s management bodies. This creates risks of inharmonious development of IFRS and confirms the ongoing pendency of the Foundation's unresolved management problems previously identified. The current position of the EEU is characterized by a significant imbalance between functional and financial representations in the Foundation's management system. To reduce such risks, the article proposes to diversify the industry representation, and introduce financial participation coefficients and national representation into the practice of the Foundation's management, based on a transparent and understandable algorithm using public data. Conclusions. The formulated proposals can be useful for the authorized federal governing bodies of the Russian Federation and the EEU governing bodies when developing growth strategies in the field of accounting and reporting, to improve international standards, and protect the national economic interests of the EEU countries in the course of the IFRS Foundation’s activities under present-day conditions.

International Financial Reporting Standards and Real Earnings Management

2019 ◽  
Vol 9 (10) ◽  
pp. 281-292
Author(s):  
Ooi Chee Keong ◽  
Shafi Mohamad ◽  
Syed Ehsanullah
Keyword(s):  
Earnings Management ◽  
Financial Reporting ◽  
Positive Association ◽  
International Standards ◽  
Real Earnings Management ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Financial Reporting Standards ◽  
Industrial Sectors ◽  
The Impact

We have attempted to investigate the impact of adopting the International Financial Reporting Standards (IFRS) on real earnings management (REM) in this study, along with a thorough examination to determine the relationship between IFRS and REM. The study is primarily based on 178 listed firms from different industrial sectors in Malaysia, wherein IFRS had finally been implemented in 2008. For more adequate estimations and requisite results, we have included data of eight years i.e., 4 years before the implementation of IFRS and 4 years after its implementation, in our sample. Our results showed positive association between IFRS and REM, accordingly, precisely suggesting that after the implementation of IFRS, these firms were found to be engaged more in less detectable REM, and also exhibiting quite a poor financial reporting quality apparently below international standards.

scholarly journals MAIN ASPECTS OF THE ORGANIZATION OF ACCOUNTING AND ANALYTICAL SUPPORT AND COST MANAGEMENT OF THE ENTERPRISE

2021 ◽  
Author(s):  
Antonina Kosiak ◽  
Olena Lytovchenko
Keyword(s):  
Financial Reporting ◽  
Cost Management ◽  
International Standards ◽  
Production Costs ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Financial Reporting Standards ◽  
Support Organization ◽  
The Right

One of the most important indicators of production and economic activity of enterprises, which has a direct impact on financial performance is costs. The article defines the economic meaning of the concept of "costs", "production costs". Features of accounting and analytical support, organization of accounting and cost management, cost classification are considered. Classification is one of the methods of cognition and study of phenomena, processes, objects, which consists in their division into classes on the basis of certain features, properties and patterns of relations between them. The classification of costs helps to assess the costs incurred, to find possible features to increase cost efficiency and make the right decisions about their management. Classification of costs is the basis of their accounting, analysis and planning in the enterprise. Cost management takes into account such components as rationing, planning, cost accounting, deviation control and cost analysis, cost management and decision making. The problem of cost management is quite relevant for Ukrainian enterprises. Today, all businesses face the problem of applying International Financial Reporting Standards. The peculiarities of cost reflection according to International Financial Reporting Standards and National Accounting Standards (standards) are studied and analyzed. Achieving a high or sufficient level of each of the production or management processes of financial activities of economic entities must be accompanied by certain costs, the economic content of which will vary depending on the object. However, the owners (managers) of the enterprise or its individual structural unit must be clearly aware of what exactly the costs contribute to the creation and maintenance of the organization and their timely optimization. The Conceptual Basis of Preparation and Submission of Financial Statements means true presentation, prevalence of substance over form, prudence, completeness. These requirements formed the basis for the formation of accounting principles in International Standards and, accordingly, in Ukraine.

scholarly journals Impact of Accounting Software among SMEs Accountants in Oman

2020 ◽  
Vol 4 (2) ◽  
pp. 25-33 ◽  
Author(s):  
Mohammed Muneerali Thottoli
Keyword(s):  
Financial Reporting ◽  
Small And Medium Enterprises ◽  
Basic Knowledge ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Incorrect Choice ◽  
Financial Reporting Standards ◽  
Accounting Software ◽  
Medium Enterprises ◽  
The Impact

Financial losses, bankruptcy and closure of the company may be the result of incorrect choice of accounting software, inefficient modernization of such software depending on the specifics of the economic entity and ignorance of technical knowledge of staffs to work with the software product. The paper notes that for companies from member countries of the Gulf Cooperation Council, the technique of implementation and application of tax legislation and International Financial Reporting Standards (IFRS) differs significantly from other countries. The article emphasizes that in Oman, companies need to prepare financial statements in accordance with current applicable IFRS, as well as the Law on Commercial Companies 2019 and the guidelines and requirements for disclosure of capital market information. The purpose of this paper is to study and study the impact of the implementation of accounting software among small and medium enterprises (SMEs) in Oman. The study systematizes the features and issues of assessing the relationship between generalized accounting software (GAS) and its use by accountants working for SMEs. Twenty small and medium business accountants were selected as the target audience, taking into account their experience and basic knowledge of accounting in the context of ownership and use of GAS. The study confirms and theoretically proves that the use of GAS in the financial and economic activities of SMEs has a significant impact on the practice of accountants working in such enterprises, ie, there is a positive and significant relationship between GAS choice and use of GAS by SME accountants. The results of this study can be useful for the government, representatives of tax authorities, higher education institutions in the context of establishing adequate policies regarding the use of software for accounting by economic entities. Keywords: Generalized accounting software, accounting, accountant, small and medium enterprises, international financial reporting standards (IFRS), Oman.

scholarly journals The influence of culture on disclosures in financial statements prepared under International Financial Reporting Standards

2019 ◽  
Vol 2019 (101 (157)) ◽  
pp. 111-132 ◽  
Author(s):  
Jerzy Gierusz ◽  
Katarzyna Koleśnik
Keyword(s):  
Financial Reporting ◽  
Comparative Studies ◽  
Financial Statements ◽  
Arab Countries ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Consolidated Financial Statements ◽  
Financial Reporting Standards ◽  
Financial Disclosures ◽  
The Impact

The primary objective of this article is to investigate the impact of culture (as measured by Hofstede) on disclosures in financial statements prepared under International Financial Reporting Standards (IFRS) by firms from different countries. The sample comprises 2011−2013 consolidated financial statements of stock companies (excluding banks, insurance, and other financial institutions) from four countries repre- senting different cultural areas: the United Kingdom (Anglo), Germany (Germanic), Poland (Central Eastern Europe; CEE) and Kuwait (Arab). The research material came from 312 annual consolidated financial statements from 104 companies. The results reveal that cultural values have a significant impact on financial disclosures even after the use of IFRS. The paper is one of the few comparative studies attempting to assess the effects of culture on financial disclosures in Western Europe countries, CEE countries and Arab countries. Most of the international comparative studies in this research area have neglected CEE and Arab countries.

Account and Assessment of Commodity Stocks According to Russian and International Standards

Auditor ◽  
2015 ◽  
Vol 1 (5) ◽  
pp. 24-27
Author(s):  
Дятлова ◽  
O. Dyatlova
Keyword(s):  
Financial Reporting ◽  
International Standards ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Financial Reporting Standards

In this paper the author considers questions of a technique related to assessment and accounting of stocks, including goods, according to the Russian Standards and International Financial Reporting Standards.

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