Any article about Financial accounting
213259428
THE CONNECTION BETWEEN LEGAL REGULATON OF FINANCIAL ACCOUNTING AND TAXATION ON CORPORATE INCOME TAX
Foreign scientists recently have given more attention to problematic questions of corporate income tax connection with financial accounting, and have also emphasized financial accounting importance to tax law. However, despite the fact that there are some publications which assess transactions for financial accounting and taxation purposes in practical view in special press, there is less scientific research on corporate income tax connection with financial accounting. As a consequence, this article aims to reveal the connection between legal regulation of financial accounting and taxation on corporate income tax. Publication analyzes legal relationship between financial accounting and corporate income tax, scientific literature about the article topics and pragmatic (practical) disclosure of connection between financial accounting and corporate income tax. The result of the article shows that these two elements are strongly connected and the analysis of their legal relationships could simplify the administration of tax burden of corporate income tax.
Martynas Endrijaitis
225991049
Problems and Strategies of Financial Accounting Informationization of Small and Medium Sized Enterprises Based on Artificial Intelligence
Through accurate computer calculation and data technology, it effectively strengthens accounting related tasks and promotes the upgrading of the business content of the accounting industry. Accounting informatization is a mainstream trend in the current era, and it is also a landmark content for the construction of various industries. Any enterprise needs to do a good job of the content of accounting informatization in order to effectively deal with the increasingly complex economic structure, so as to allow enterprises to fund Maximize efficiency. Although accounting informatization has only appeared for a short period of more than ten years, it has had a certain impact on the traditional financial management of enterprises, resulting in difficulties in the development of financial management of enterprises. But after a period of running in, the advantages that accounting informationization can bring will be more comprehensive. This article will start from the impact of accounting informatization on corporate financial management, and conduct a comprehensive study on the impact of accounting informatization on corporate financial management and its countermeasures.
Xingdong Zhang Hua Cai
226588058
Role of Accounting Analytical Support of State Agricultural Policy in the Context of Financial Crises
State agricultural policy should be aimed at identifying the factors of creating added value and stimulating its generation. Effective implementation of state agricultural policy is impossible without reliable information in the volumes necessary for different levels of government. The purpose of the article is to determine the role of the system of accounting and analytical support in the implementation of the state agricultural policy and to propose the guidelines for its improvement in the context of financial crises. The analysis of the dynamics of gross output and expenditures of the state budget for the agricultural sector was performed and economic accounts of agriculture were evaluated. The factors that stimulate the development of accounting were identified and their characteristic was given. Accounting aggregates were presented as elements of innovative methods of management information support. Based on the analysis of the achievements of foreign researchers, the matrix of characteristics of the accounting and analytical support of the state agricultural policy was formed by the author. It was revealed that during a period of stable functioning of the agricultural sector, the effectiveness of management decisions depended on how the accounting system provided management of relevant, complete and reliable information about the status of assets, liabilities, results of operations and financial resources of economic entities. But during the crisis managers need information about the stock of production and financial stability, forecast of production costs, logistics efficiency and other indicators that need to be controlled. The model of accounting and analytical support of the state agricultural policy was built. It was proved that the role of accounting and information support especially increases during a crisis, because the accounting information and its analysis makes it possible to predict the most realistic scenario for the development of the situation.
Nataliya Pravdyuk
226427228
Disclosure of Off Balance Sheet Accounting Data in the Enterprise's Financial Statements
Off balance sheet accounting data plays an important role in the management of the enterprise and should be disclosed in the reporting, because the transactions recorded on off balance sheet accounts may in the future cause changes in the balance sheet assets, liabilities, income, expenses and financial results of the enterprise. The purpose of the article is to summarize the theoretical and methodical bases of the disclosure of off balance sheet accounting data in the financial statements of the enterprise and to develop recommendations for their improvement to form the quality information support of the management system of business entities. The critical analysis of the theory and practice of disclosure the off balance sheet items in the financial statements has made it possible to determine problematic aspects and outline directions for their improvement in accordance with the information needs of external and internal users. The improvement of the financial statements of the enterprise, namely Notes to the annual financial statements, was proposed by introducing the section "Information about off balance sheet items" In this section the data about the availability and movement of off balance sheet items will be disclose in the context of classification groups: values that not owned, but temporarily owned, operated, or stored; conditional rights and obligations of the enterprise; objects of operational control. Authors recommend disclose the value of intangible, long term biological and other non current assets that are leased out under operating leases in the notes to the annual financial statements. In addition, the depreciation should be disclosed in the context of depreciation of property, plant and equipment, non current assets, non current assets. It will ensure the clarity and accessibility of the reporting information and will help to increase the confidence of potential investors and partners to enterprise.
Nataliia Y Hembarska Kh Danylkiv Khrystyna Gorbova
226508057
Accounting Analytical Aspects of Non Financial Reporting Formation by Ukrainian Companies
Today non financial reporting is the main tool for managing and informing stakeholders about the level of corporate social responsibility. Proper preparation of non financial statements requires adequate information support and sets particular requirements for the accounting system. The purpose of the article is to investigate the content and structure of non financial reporting as a tool of corporate social responsibility, as well as to substantiate the importance and directions of forming a system of social and environmental accounting in companies to ensure proper preparation of non financial reporting. Non financial reports of the six largest companies in Ukraine were selected as the object of study. The content of key standards for non financial reporting was considered. The analysis of non financial reports of well known domestic companies prepared according to GRI standards was performed. Also, advantages and disadvantages in the preparation of the investigated reporting were identified. The performance targets of the socially responsible activity of the companies were grouped into the following areas: personnel management, interaction with consumers, interaction with society, environmental management, and economy. The economic essence of the concepts of "corporate social responsibility" "socially responsible business" "social accounting" was disclosed. As an information base for the preparation of non financial statements, authors propose the system of social and environmental accounting which includes social and environmental financial accounting, social and environmental management accounting, social and environmental controlling and social and environmental audit. The characteristics of these components were presented and the objects of social and environmental accounting were defined. The necessity of using additional subaccounts in the working Accounting chart of accounts and the importance of standardizing non financial reporting at the national level were emphasized.
Olha Dmytrenko Svitlana Viter
214451771
Intangible capital, governance and financial performance
Abstract This article analyzes the reasons for the disclosure of information on intangible capital (DIIC) and its consequences on financial performance. To this end, we take a structural approach based on the PLS PM method for a sample of industrial companies listed in the EuroStoxx 600 index. Our results first of all highlight the significant influences of governance and financial structure on the disclosure of information about the intangible capital. Notably we show that the main determinant of the DIIC is corporate governance. Then, we reveal that DIIC practices increase the financial performance of firms, with a greater impact on the market performance than on accounting performance. Finally, we identify a double impact, direct and indirect (through the DIIC) of corporate governance on financial performance, while the literature merely highlights only the direct link between these two factors.
Eric Braune Jean-Michel Sahut Frederic Teulon
230625854
The Internal Control System as a Management Function and the Element of Integrated Reporting Financial Statements
The present article is devoted to one of the most urgent problems of financial accounting organization and preparation of accounts the issue of implementation of internal control in the companies. The authors consider the internal control as a function of management in interrelation with internal audit and risk management. The purpose of the research is to determine the level of information disclosure about the internal control system in the company's reporting. The research subject is the industrial and economic activity of chosen companies. Public integrated reporting is the object. The authors set out the following tasks in the research process: to estimate the degree of study of the problem; to analyze public reporting, including its structure, different report forms, the content of Explanatory Notes to the reporting and the working documents; to compare the reporting of various companies; and to identify the degree of information disclosure. The methodology of the research suggests an analysis of existing studies in the field of internal control, visual analysis of internal documents of the companies and their reporting and comparative assessment of reports of some companies. The authors study public accounts of the major companies, consider it from the view of completeness of disclosure of information about the internal control system, draw conclusions and give recommendations on improvement of control procedures. The authors justify that the two concepts of internal control and internal audit are not the same. However, the management of some companies does not separate them. The authors prove that internal auditing is only a part of the internal control system.
Lyubov Alexeevna Plotnikova V Rubanov
219737920
New development: Importance of accounts receivable in Colombian state entities and their impact on the preparation of financial information
ABSTRACT The article shows the importance of accounts receivable in the financial structure of state entities (purely government entities and state companies) and the challenge of standardizing accounting policies in order to prepare a national consolidated balance sheet. The focus is on Colombia. The research is qualitative, based on an analytical link between the nature of state entities, liquidity management and measurement in the preparation of financial information. Evidence is provided about the opportunities and limitations of the accounting regulation frameworks established for the public sector in Colombia. The author identifies future fields of research on public sector accounting and its role in accountability. IMPACT This paper shows, using the case of accounts receivable in Colombia, the challenges in preparing a national balance sheet, due to variations in accounting policies and the presentation of financial information by different levels of government, such as purely government entities and state companies. The paper draws out implications for practice based on the recent implementation of international standards in Latin America, such as estimates of the impairment of accounts receivable under the International Public Sector Accounting Standards (IPSAS) and International Financial Reporting Standards (IFRS)
Martha Liliana Arias Bello
216278926
The dynamics of audit market and financial reporting under International Financial Reporting Standards: the case of Romanian listed companies
Research question: The purpose of this article is to analyze the dynamics of audit market related to the audit services and financial reporting in accordance with International Financial Reporting Standards. Motivation: Although there is a solid foundation of rules and principles, the practical controversy over the rule of law, the features of the financial market, the characteristics of the accounting regulation process and the ability to adapt the environment seem to be endless. A credibility benchmark is made by the auditor's opinion that increases the reliability of financial statements, thus providing investors with assurance about the entity's independence. In this context, a strong maturation of Romanian market seems to improve the institutional context under IFRS adoption and an increased number of companies audited by Big 4 reveals a solid audit market. Idea: The main purpose of the research is to investigate the actual circumstances regarding International Financial Reporting Standards and the changes on audit market regulated by International Standard on Auditing (IAS) regarding Romanian listed companies. The in depth knowledge of these elements makes it possible to highlight the existing achievements, thus marking a bond between IFRS and IAS, as two congruent standards. Data: In the present survey, a sample of 20 companies listed on the Bucharest Stock Exchange, Premium Shares, during 2016 2018 has been analyzed. Tools: The study implies a quantitative model based on Whitney test for verifying the association between the type of auditor and the audit opinion in the context of IFRS. Findings: The result indicates that the majority of firms is audited by Big 4 and a change of audit firm is not directly associated to the change of audit opinion after the adoption of IFRS became mandatory. In the same time, the present survey shows a continuous improvement of the audit market under IFRS adoption.
Marta Tache
221244291
Analyzing the Results of Accounting Evaluation Methods Through Practical Applications
Even though different types of accounting evaluation approaches have been discussed in this article, mainly the income based approach to business evaluation, asset based approach to business evaluation and practical case evaluation have been analyzed. This article presents the principles of assessment of accounting items as active, external sources and equity and how financial performance is reflected. An important detail in this part of the project is the method of approach in assessing the direct reference to the main base for determining the elements of external sources and equity. In this analysis I have left the rules in the International Accounting Standard Board (IASBF) Framework, which provides tax assessment: historical cost, current cost, realizable value (settlement) and the present value as far as external sources are concerned such as stocks, bonds, and others. Fair value should be added as the basis for evaluation, even if not expressly provided for the general, is often used to IFRS as a basis for evaluating several external sources. I believe that this assessment is not at a crossroads about the theoretical and practical evaluation of most elements of external sources at fair value, including all sources from ordinary activities, which are recognized in the accounts at fair value.
Ibrahim Sani Mert