scholarly journals INTANGIBLE ASSETS IN THE EXTERNAL REPORTING IN UKRAINE: IMPROVEMENT OF DISCLOSURE

2020 ◽  
Vol 3 (47) ◽  
pp. 33-42
Author(s):  
Iryna Budnik
Keyword(s):  
Intangible Assets ◽  
Financial Statements ◽  
Developed Countries ◽  
International Markets ◽  
Business Practices ◽  
Accounting System ◽  
Real Property ◽  
Financial Condition ◽  
External Reporting ◽  
And Control

The final product of an accounting information formation process on intangible assets is an enterprise's financial statement and internal (management) statement with appropriate operations details. Intangible assets and their role in assessing the effectiveness of a particular business entity are the subjects of intensive research by both foreign and Ukrainian scientists. Research of this accounting object will be relevant for the business practices in Ukraine until appropriate reporting recommendations are developed, which will reflect the real property and financial condition of the entity, which, in turn, will increase the reliability of reporting indicators and the economic attractiveness of the enterprise for potential stakeholders both in the Ukrainian and international markets. Therefore, the situation with non-disclosure of a part of the intangible assets in the company's financial statements is unacceptable, since its users expect full and reliable disclosure of information in the company's financial statements. The lack of complete and reliable information about the company does not allow its users to form an opinion and make final important decisions about the efficiency and prospects of a particular entity. Modern economic realities in developed countries and, especially in Ukraine dictate new requirements for the organization of the accounting process to manage, evaluate, and control transactions with intangible assets, which necessitates improving the organizational aspects of the accounting system in the enterprise, in particular, in terms of building an external reporting system. During the analysis of the approaches to the formation of external reporting in terms of providing information on intangible assets of the Ukrainian enterprises, as well as the nature and principles of the taxonomy of financial statements of Ukraine, recommendations on the structure and description of all components of intangible assets reporting were developed and systematized

scholarly journals Analysis and Control of Bankruptcy and Reorganization Processes: Case Studies Using Accounting Data

2020 ◽  
Vol 164 ◽  
pp. 09036
Author(s):  
George Abuselidze ◽  
Anna Slobodianyk
Keyword(s):  
Factor Model ◽  
Financial Statements ◽  
Rapid Diagnostics ◽  
Accounting Data ◽  
Discriminant Model ◽  
Financial Condition ◽  
Positive Growth ◽  
Probability Of Bankruptcy ◽  
And Control ◽  
Integral Indicator

The article is devoted to the justification and development of recommendations for improving the use of accounting data for the analysis and control of bankruptcy and reorganization processes of enterprises. It is determined that in conditions of financial and political instability, the activities of enterprises are accompanied by crisis situations, which may result in insolvency or bankruptcy. The peculiarities of processes of bankruptcy and reorganization of enterprises, using the methods of economic analysis, analysis of financial state and efficiency of the investigated company, as well as evaluated the effectiveness of the use of accounting data for analysis and control of processes of bankruptcy and reorganization of enterprises. Overview of cases in business practice for which the company is liquidated. The state and volume of activity of the basic enterprise in the context of the main indicators of financial statements for the last three years are analyzed. As a result of the analysis of the enterprise, it is proved that LLC Agrocomplex is profitable, with positive growth trends for most of the main indicators of economic activity. To identify signs of a crisis, the company assessed the threat of bankruptcy based on rapid diagnostics. The authors proved that the two-factor model for assessing the probability of bankruptcy of an enterprise shows that the probability of bankruptcy for LLC Agrocomplex is very low. The authors prove that when analysing the financial condition of an enterprise, a situation may arise when some indicators of the discriminant model for a particular enterprise may be very low compared to their “normal” values, and others - on the contrary, too high, which is also “bad". It is proved that their combination can indicate a stable financial condition of the enterprise, since it is the calculation of one integral indicator based on all input factors at the same time.

IMPLEMENTASI AKUNTANSI SYARIAH UNTUK RUMAH SAKIT

2017 ◽  
Vol 1 (2) ◽  
Author(s):  
Fauziah Fauziah
Keyword(s):  
Financial Reporting ◽  
Capital Market ◽  
Economic Activity ◽  
Value Added ◽  
Financial Statements ◽  
Accounting System ◽  
Hospital Services ◽  
Certification Standard ◽  
And Control ◽  
Business Sectors

Sharia economy that used to be synonymous with sharia financial institutions such as sharia banking, sharia insurance, and sharia capital market, now the concept of sharia is applied to other business sectors even to services such as the concept of sharia tourism with the hotel sharia and the latest is hospital services concept of sharia. Although the existence of hospitals already known at first, but the concept of hospitals that are in service and financial statements based on the concept of sharia is just beginning to apply. Implementation of sharia hospitals and sharia financial reporting is also regulated in SAK Sharia. SAK that regulates sharia financial under PSAK 101 Presentation of Sharia Financial Statements (revised 2016). The existence of a hospital is similar to other companies / organizations, it has a function and part to carry out service activities to the community. Each function has responsibility and control system. The function of sharia accounting system in hospitals to provide accountable and transparent financial information as the basis for proper decision making and planning ahead. So the hospital has Value Added. The hospital needs to implement a sharia accounting system in order to eliminate discrimination between economic activity and worship. Hospitals have a unique accounting system because in addition to running a business, also carry out social activities. Keyword: Sharia hospital, MUKISI, Sharia Hospital Certification Standard, Sharia Muqashid System, Value Adde

IMPLEMENTASI STANDAR AKUNTANSI PEMERINTAH (SAP) BERBASIS AKRUAL DI INDONESIA

2019 ◽  
Vol 5 (2) ◽  
pp. 58-65
Author(s):  
Novi Trisnawati
Keyword(s):  
Internal Control ◽  
Financial Statements ◽  
Developed Countries ◽  
Public Confidence ◽  
Accounting System ◽  
Political Commitment ◽  
Government Accounting ◽  
Government Sector ◽  
Accrual Basis ◽  
The Government

Accrual-based accounting system is a modern accounting system that is widely applied in developed countries. While Indonesia has been using an accrual-based accounting system in the private sector for a long time. however, for the government sector, before 2010 Indonesia still used cash basis and cash toward accrual basis. But after the issuance of PP 71 of 2010 all government sectors are required to use an accrual basis to prepare their financial statements. The application of the accrual basis is expected to be able to improve the performance of government units. This improvement will be demonstrated by the better opinion obtained on financial statements, both LKPP and LKKL. And the improved opinion obtained will increase public confidence in the government regarding the use of funds that have been obtained from them. Therefore, for the implementation of accrual basis accounting to be fully implemented, several requirements are needed, including: (1) Improvements that must be made to an adequate accounting system and accounting technology, including a reliable internal control system; (2) The availability of competent accountants as adequate HR requirements; (3) Appropriate strategies are used for applying the accrual basis; (4) political commitment; and (5) communicating the purpose of applying this basis. Keywords: government accounting standard, accrual based accounting

scholarly journals Features of accounting and controlling the finished products movement documentary declaration at enterprises, institutions, organizations of Ukraine

2019 ◽  
pp. 9-14
Author(s):  
Hanna BULKOT ◽  
Olha OSYKA
Keyword(s):  
Product Information ◽  
Financial Statements ◽  
Process Efficiency ◽  
Main Role ◽  
Accounting System ◽  
Operational Cycle ◽  
Document Flow ◽  
And Control ◽  
Financial Result ◽  
Analyze Data

Introduction. Production of finished products and their sale completes the operational cycle in the activity of the enterprise. The enterprise must produce those products that are in demand in the market. The main role in ensuring the competitiveness of the enterprise is played by the system of control over the sale of products and the correct documentation of accounting of the movement of finished products, since these factors affect the financial result, which is a summarizing indicator of the organization. However, a number of conceptual, methodological and organizational aspects of documentation and workflow in the accounting system continue to be debatable and need further investigation. The purpose of this article is to improve the control of the documentation of the movement of finished products and the formation of financial results from its implementation at enterprises. Result. The article analyses question to improve the accounting and control of documenting the movement of finished products and the formation of financial results from its sale at enterprises. The basic tasks of control over the documentation of finished goods accounting at the enterprises in the organization system and the normative legal acts, according to which the documentary verification of the movement of finished products at the enterprise are considered. The main stages of document flow in the statistical workflow schedule are highlighted. Conclusion. Therefore, summarizing all of the above, we can conclude that it is still necessary to disclose the finished product information in the financial statements of the enterprises in more detail, where it will allow users of the financial statements to analyze data on production process efficiency, business activity of the enterprise, profitability of production and sales, as well as accept well-balanced management decisions.

scholarly journals Methodical Aspects of Comprehensive Analysis of Financial Viability of Enterprise

2020 ◽  
Vol 7 (2) ◽  
pp. 108-116
Author(s):  
Iryna V. Nagorna ◽  
Viktoriia I. Benchak
Keyword(s):  
Financial Reporting ◽  
Financial Analysis ◽  
Limited Liability ◽  
Financial Statements ◽  
Financial Economic ◽  
Global Changes ◽  
Accounting System ◽  
Management Decisions ◽  
Financial Condition ◽  
Wide Range

Global changes in the economic environment, global processes of accounting standardization necessitate a revision of the theoretical foundations, future development of methodological approaches and guidelines for the formation of financial statements of Ukrainian enterprises. Qualitative economic information, collected and processed within the accounting system of a business entity for a reporting period, should provide the opportunity to make informed management decisions focused on optimizing the operation of an enterprise and its further development. Information, on the financial condition and results of a business entity is of interest to a wide range of participants in the business process. Based on the study of open reporting information, its users make important management decisions. That is why the issues related to the improvement of the presentation methodology and the use of financial statements are relevant. The article considers the role of a comprehensive financial analysis of an enterprise, provides theoretical and practical foundations for improving the methodology of financial reporting of an enterprise. The financial and economic activity of an enterprise on the example of the limited liability company “LEASING INVEST” was considered, the necessary calculations characterizing the financial condition of the enterprise were carried out. The analysis of the financial condition provides an opportunity to obtain an assessment, identify the causes and factors of the achieved state, prepare and justify management decisions. It plays an important role in ensuring effective management, is responsible for the selection, evaluation and interpretation of financial, economic and other data that affect the financial decision-making process

scholarly journals SCIENTIFIC-THEORETICAL AND ORGANIZATIONAL ASPECTS OF THE ORGANIZATION OF ACCOUNTING AND CONTROL IN THE FIELD OF SMALL BUSINESS OF UKRAINE

2021 ◽  
Author(s):  
Olena Melen ◽  
Tetiana Zhadan
Keyword(s):  
Small Business ◽  
Small Businesses ◽  
Developed Countries ◽  
Accounting System ◽  
Legal Form ◽  
Accounting Data ◽  
Financial Flows ◽  
Business Operations ◽  
Business Entities ◽  
And Control

The small business sector in Ukraine does not yet play such an important role in the national economy as in economically developed countries. He fights almost daily for "survival", forced to constantly adapt to current market conditions. The development of small business is one of the priority areas of economic development at the present stage. The state relies on small business for rapid and positive structural changes in the economy, overcoming the crisis and creating conditions for market reforms. The issue of organization of accounting and control is relevant for small businesses of any form of ownership and organizational and legal form. This is due to specific features in the application of methods and techniques of accounting and control. A single view on the definition of the term "organization of accounting" scientists have not yet defined, so this question is still relevant. Features of the organization of the accounting system in small enterprises depend on the choice of the small business tax system, the choice of form of accounting, the choice of accounting system, the use of chart of accounts by small businesses and the ability to keep accounts without using the chart of accounts and principle double entry, which is typical for micro-entrepreneurs. The presence of quite frequent changes in legislation and approaches to doing business, which regulate the accounting and tax accounting of small businesses require constant improvement of accounting. Undoubtedly, the guarantee of successful operation of the enterprise is experienced management and strict control over business operations and financial flows. Control of accounting and reporting is carried out to ensure the reliability of accounting data; prevention of loss of money or valuables as a result of theft or abuse; ensuring accurate accounting of business transactions occurring in the business activities of business entities, and information in accounting registers, etc. That is, accounting control is a set of procedures that ensure the safety of assets of business entities and the accuracy of reporting prepared by the accounting department. Financial control of business operations and financial flows is the key to successful business entities. Therefore, in small businesses it is very important to form an effective system of accounting and control.

Why Do Firms Write Off Their Goodwill? A Comparison of Different Accounting Systems

2015 ◽  
pp. 23-40 ◽  
Author(s):  
Francesco Avallone ◽  
Claudia Gabbioneta ◽  
Paola Ramassa ◽  
Marco Sorrentino
Keyword(s):  
Good Deal ◽  
Financial Statements ◽  
Cash Flows ◽  
Accounting System ◽  
Anglo Saxon ◽  
Accounting Systems ◽  
Ifrs Adoption ◽  
The Future

Increased comparability of financial statements across adopting countries is one of the main objectives of IFRS adoption. The level of achievement of this objective, however, is still debatable. While some studies have documented that crosscountry comparability of financial statements has increased after IFRS adoption, other studies have found that comparability has actually decreased since 2005. We contribute to this debate by studying whether the motivations for goodwill writeoff are the same or vary across countries with different accounting systems. Although a good deal of research has investigated the motivations for goodwill writeoff, our study is the first to analyze whether these motivations vary across countries with different accounting systems. We find that firms that expect low cash flows in the future are more likely to report goodwill write-offs if they are located in countries with an Anglo-Saxon accounting system than if they are located in countries with a Continental accounting system. These results suggest that IFRS are "interpreted" differently in different countries and that harmonization of financial statements has not been fully achieved yet.

Comparison of the perception of overt and covert options in IPSAS financial statements by intergovernmental organizations

Tékhne ◽  
2018 ◽  
Vol 16 (1) ◽  
pp. 28-39
Author(s):  
Berit Adam
Keyword(s):  
Public Sector ◽  
European Commission ◽  
Accounting Standards ◽  
Financial Statements ◽  
Criminal Court ◽  
Intergovernmental Organizations ◽  
Accounting System ◽  
Accrual Accounting ◽  
Public Sector Accounting ◽  
Primary Reference

AbstractSince 2012, the European Commission has embarked on the ambitious project to harmonize public sector accounting rules on all levels of government within Europe, mainly to improve the quality as well as the comparability of financial data. Although International Public Sector Accounting Standards were deemed not to be suitable for a simple take-over because of various reasons, they nevertheless shall function as a primary reference point for developing European Public Sector Accounting Standards. A total of 21 out of 28 central governments have already reformed their accounting standards to accrual accounting, and some of them have also relied on IPSAS in this exercise. Apart from governments, various international and supranational governmental organizations have also since the end of the 2000’s been reforming their accounting system to accrual accounting, and have in the same way relied on existing IPSAS. This paper explores accounting practices found in ten intergovernmental organizations (Commonwealth Secretariat, Council of Europe, European Commission, IAEA, INTERPOL, ITER, NAPMA, OECD, International Criminal Court, WFP) whose statements are prepared in compliance with IPSAS. It analyzes how overt and covert options contained in IPSAS with relevance to the activities of intergovernmental organizations are exercised and evaluates in which areas of accounting material differences in accounting practices can be found, which may hinder the comparability of financial statements prepared on the basis of IPSAS.

'Restrictive Business Practices', report by the UNCTAD Secretariat, April 1972.

1973 ◽  
Vol 12 (3) ◽  
pp. 315-316
Author(s):  
G. M. Radhu
Keyword(s):  
Multinational Corporations ◽  
World Trade ◽  
Developed Countries ◽  
Business Practices ◽  
Less Developed Countries ◽  
International Firms ◽  
The World ◽  
The Sixties ◽  
Financial Power ◽  
Administrative Structures

The report by the UNCTAD Secretariat, submitted to the third session of the United Nations Conference on Trade and Development held in Santiago (Chile) in April 1972, deals with the restrictive business practices of the multinational corporations with special reference to the export interests of the developing countries. Since the world war, there has been a tremendous growth in the size and activities of many international firms. They have grown from the national corporation to the multidivisional corporation and now to the multinational corporation. With each step they acquired greater financial power, better technology and know-how and more complex administrative structures. They have subsidiaries and branches all over the world. In the course of the sixties they became one of the dominant factors in determining the pattern of world trade. At the same time, their increasingly restrictive business practices, which tended to adversely affect world trade and the export interest of less developed countries, attracted the attention of the governments both in developed and less developed countries and serious concern was shown at the international level. It is against this background that the UNCTAD undertook the study on the question of restrictive business practices.

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