scholarly journals DO LITHUANIAN HIGHER EDUCATION ACCOUNTING PROGRAMS REFLECT ACCOUNTING HARMONIZATION IN THE EU?

2014 ◽  
Vol 2 ◽  
pp. 113-118
Author(s):  
Dalia Kaupelyte ◽  
Renata Legenzova
Keyword(s):  
Higher Education ◽  
Labor Market ◽  
Public Sector ◽  
Financial Reporting ◽  
Accounting Standards ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Financial Reporting Standards ◽  
Public Sector Accounting ◽  
The Eu

Financial accounting is undergoing major changes in the EU and worldwide.  Great efforts are placed on adoption of high quality accounting standards for listed companies, public sector organizations as well as small and medium business entities.  Being a member of the EU Lithuania is in compliance with the EU incentives in de jure accounting harmonization; however de facto situation in Lithuania is not adequately assessed.  One of accounting harmonization related questions is whether Lithuanian higher education provides labor market with market-needs oriented accounting professionals.The objective of this article is to assess if Lithuanian higher education programs in accounting field is in compliance with EU accounting harmonization outcomes.  We analyze if graduates of Accounting programs from Lithuanian Higher Education Institutions are trained to work with different sets of accounting standards—International Financial Reporting Standards (IFRS) and Public Sector Accounting Standards that were adopted in Lithuania as a part of accounting harmonization incentives.  To conduct an assessment of research methods by case analysis, comparative analysis has been deployed.  We assessed programs goals, learning outcomes and course curriculum of Professional Bachelor, Bachelor and Master level programs in Lithuanian universities and colleges.Results of the research revealed that de jure accounting harmonization is reflected in Lithuanian higher education Accounting programs.  Accounting for listed companies (required to use International Financial Reporting Standards) is given little importance in Lithuanian Accounting programs. According to the analysis of the learning outcomes, graduates of the Accounting programs in Lithuania have a broad profile, but would not be able to work independently with International Financial Reporting Standards.  On the other hand, even if regulation of public sector accounting was enforced later, it is included in number of analyzed programs.  A number of Professional Bachelor’s programs even offer specialization in this area.  Results of the research allow us to conclude that colleges have their niche in preparing accounting specialist for local labor market and their positioning is relatively strong, concerning public sector accounting.  Meanwhile first and second level universities’ programs could be strengthened toward international accounting to provide labor market with professionals in this area. 

scholarly journals The possible ways to IFRS (International Financial Reporting Standards) for SME (Small and Medium sized Entities) development

2007 ◽  
Vol 55 (6) ◽  
pp. 17-26 ◽  
Author(s):  
Hana Bohušová
Keyword(s):  
Financial Reporting ◽  
Accounting Standards ◽  
International Financial Reporting Standards ◽  
Significant Activity ◽  
Reporting Standards ◽  
Accounting Systems ◽  
Financial Reporting Standards ◽  
Business Entities ◽  
National Governments ◽  
The Eu

The most business entities in Europe are small or medium-sized enterprises (SME), which have a legal obligation to prepare financial statements in accordance with a set of accounting principles accepted in their country. Those statements are available to creditors, suppliers, and national governments but they could be badly understandable to creditors, suppliers and subjects in other countries. This is a great obstacle of their activities in the EU internal market. The existence of 27 different national accounting systems in the EU can be held for the most important obstacle.There are many ways how to develop compatible accounting standards for SMEs but the most significant activity in this field is the research project of IASB (International Accounting Standards Board). IASB has developed IFRS (International Financial Reporting Standards). Even though IFRS are suitable for all enterprises, their application in case of SMEs would be very expensive and could significantly increase compliance costs of taxation. This development has not been finished yet and there are still some problems which need to be solved before the introduction of accounting standards to the public. The research has shown that IFRS for SMEs should be used mainly by the entities which do not have public accountability – i.e. that its equities are not publicly traded and do not hold assets in a fiduciary capacity for a broad group of outsiders. This paper discusses those IFRS modifications, which should be done in case of SMEs.

First-time adoption of International Public Sector Accounting Standards by Russian universities: Practical aspects

2020 ◽  
Vol 23 (4) ◽  
pp. 364-383
Author(s):  
L.I. Kulikova ◽  
I.I. Yakhin
Keyword(s):  
Higher Education ◽  
Public Sector ◽  
Financial Reporting ◽  
Higher Education Institutions ◽  
Accounting Standards ◽  
Educational Process ◽  
Academic Excellence ◽  
Public Sector Accounting ◽  
First Time ◽  
Russian Universities

Subject. This article examines the practice of first-time applying the International Public Sector Accounting Standards (IPSAS) by Russian higher education institutions. Objectives. The article aims to identify and address the problems associated with such application, and conduct a critical analysis of Russian universities' compliance with the requirements of the International Standards on their first-time adoption. Methods. For the study, we used observation, systematization, and a comparative analysis. Results. The article examines and describes the practical experience of the first-time use of IPSAS in the preparation of reporting by Russian educational institutions participating in the Russian Academic Excellence Project (5Top100 Project). It presents the results of the most typical reclassification adjustments of reporting items made by the universities when preparing their inductive statements of financial position as of the date of transition to IPSAS. Conclusions and Relevance. Most of the universities studied complied with the requirements of the IPSAS first-time adoption and provided comparative information in their first IPSAS financial reporting. The importance of the study is to justify the provision that financial reporting in accordance with IPSAS is appropriate to improve the international competitiveness of universities, which makes it possible to better reflect financial information on the activities of universities. The results of the study can be used in the practical activities of the Russian economy public sector organizations, and in the educational process of higher education institutions.

Research of Estimated Liabilities During the Audit of Accounting (Financial) Statements

Auditor ◽  
2021 ◽  
pp. 33-39
Author(s):  
N. Loseva
Keyword(s):  
Financial Reporting ◽  
Accounting Standards ◽  
Financial Statements ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Financial Reporting Standards

The article discusses the estimated liabilities, their study and assessment in accordance with the provisions of Russian accounting standards (RAS) and International Financial Reporting Standards (IFRS).

scholarly journals International Financial Reporting Standards and Orientation of Vietnam: “Roadmap & International Experience”

2018 ◽  
Vol 7 (4) ◽  
pp. 167
Author(s):  
Ha Thi Thuy Van ◽  
Vu Thi Kim Anh ◽  
Nguyen Dang Huy
Keyword(s):  
Financial Reporting ◽  
Accounting Standards ◽  
Asia Pacific ◽  
International Financial Reporting Standards ◽  
International Accounting ◽  
International Accounting Standards ◽  
Reporting Standards ◽  
Financial Reporting Standards ◽  
Advantages And Disadvantages ◽  
The World

Currently, the Ministry of Finance is implementing Decision 480/QD-TTG dated 03/18/2013 of The Prime Minister on approving the Strategy Accounting - Audit 2020, Vision 2030 and implementing the Resolution 35/NQ-CP of the Government dated 16.05.2016 related to the support and development of enterprises by 2020. Accordingly, the development and improvement the legal framework of Financial Reporting standards in Vietnam is one of the key tasks and urgent needs to be developed to meet the requirements of the economy in the period of integration. The system of International Accounting Standards, including the International Accounting Standards (IAS) and the standards of international financial reporting (IFRS) was issued, adjusted, updated and replaced by The International Accounting Standards Board. International Accounting Standards is an important condition to ensure that companies and organizations around the world can apply uniform accounting principles in the work of preparing and presenting financial statements. Currently, many countries around the world such as USA, Japan and European countries, Asia Pacific are approaching IFRS convergence trend. In the trend of globalization of accounting, Vietnam will not be outside the process of integration with the system of International Financial Reporting Standards. This article will review the process of formation and development of IFRS, the IFRS trends and the advantages and disadvantages of applying IFRS in Vietnam. 

scholarly journals Tasks of state-owned enterprises and their impact on accounting and reporting information

2021 ◽  
Vol 2021 (9) ◽  
pp. 99-116
Author(s):  
Ljudmyla LOVINSKA ◽  
◽  
Andrii MAMYSHEV ◽  
Keyword(s):  
Public Sector ◽  
Financial Reporting ◽  
The State ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Market Conditions ◽  
Theoretical Understanding ◽  
Important Place ◽  
Financial Reporting Standards

The purpose of the article is to establish ways to implement the tasks of public sector entities in ensuring responsibility and accountability of state-owned enterprises, taking into account market conditions and the transition to international financial reporting standards (IFRS) in the context of determining the place and role of accounting information. The research methodology is based on the application of dialectical and systematic approaches to scientific knowledge and general theoretical understanding of the problems of functional and accounting-analytical support for the management of state-owned enterprises in the application of IFRS. The results of the analysis of modern tendencies of the organization and functioning of the state-owned enterprises are covered. The importance of public sector entities in the global dimension, as well as the features of the organization, challenges and tasks of state-owned enterprises in market conditions are shown. It is determined that the main tasks to be performed by state-owned enterprises are : provision of certain state services and specific goods, support of the national economy and strategic interests, doing business in a natural monopoly, as well as support of social goals of the state. The specificity of the tasks of state-owned enterprises and their important place in the state economy through the role of a special agent of the government for the implementation of state policy in a particular area is substantiated. A new look at these processes involves increasing the transparency and accountability of businesses, which is closely linked to improving the quality of accounting data on the activities of state-owned enterprises. Based on the results of the study, the algorithm of decisions on determining, assessing and reviewing the value of a state-owned enterprise based on the expression of its social, economic, environmental and tax impacts has been improved. There is a problem of harmonization of methodological support for the preparation of aggregate reports of the general government sector (GGS), which arises due to the existing differences between different sets of standards for financial reporting of GGS sector entities (International Financial Reporting Standards (IFRS) - for public corporations and National provisions (standards) of accounting in the public sector (NP(S)APS) - for all other entities of the GGS sector).

scholarly journals Adopsi International Financial Reporting Standards (IFRS) di Negara-negara Muslim: Perspektif Institutional Theory

2019 ◽  
Vol 7 (1) ◽  
pp. 59-80
Author(s):  
Elsa Nuriyani ◽  
Sepky Mardian
Keyword(s):  
Saudi Arabia ◽  
Institutional Theory ◽  
United Arab Emirates ◽  
Financial Reporting ◽  
Accounting Standards ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Financial Reporting Standards ◽  
Muslim Countries ◽  
The World

The aim of this study is to discover the adoption of International Financial ReportingStandards convergence enforced in Muslim countries. The population of this study is27 Muslim states in the world, while the sample of this study are 7 Muslim States, i.e.;Saudi Arabia, Malaysia, Bangladesh, Egypt, Nigeria, United Arab Emirates, andIndonesia. The results of this study indicate that most of the Muslim countries in theworld have converged their accounting standards with IFRS for certain reasons thatarised from each country. Although there are some countries that do not carry out theconvergence throughly due to standard nonconformities with existing policies in thosecountries.

Implementation of Federal Accounting Standards – Capital Investments and Fixed Assets – in the internal rules of accounting for fixed assets

2021 ◽  
Vol 22 (10) ◽  
pp. 1188-1204
Author(s):  
Ol’ga M. KUPRYUSHINA ◽  
Rimma R. RAKHMATULINA
Keyword(s):  
Financial Reporting ◽  
Accounting Standards ◽  
Financial Accounting ◽  
International Financial Reporting Standards ◽  
Capital Investments ◽  
Reporting Standards ◽  
Financial Reporting Standards ◽  
Fixed Assets ◽  
Federal Standard ◽  
Commercial Organizations

Subject. This article discusses the issues related to the reflection of capital investments and fixed assets in the accounting (financial) statements of economic entities during the transition to the new domestic (Russian) accounting standards – Fixed Assets and Capital Investments. Objectives. The article aims to reveal the consequences of changes in the current practice of accounting for fixed assets and capital investments in the internal rules of commercial organizations. Methods. For the study, we used the methods of generalization, comparison, primary observation, cost measurement, and grouping. Federal Accounting Standards and International Financial Reporting Standards were the basis for methodological justification of changes in the accounting practice of transactions with fixed assets and capital investments. Results. We offer certain records to reflect information on capital investments in the transition to the new Federal Standard – Capital Investments in accounts. We also offer a procedure for classifying low-value fixed assets in the inter-reporting period and a correspondence of accounts reflecting impairment loss on fixed assets. Conclusions and Relevance. The procedure for convergence of domestic accounting standards with International Financial Reporting Standards necessitates the introduction of significant changes in the process of reflecting transactions with fixed assets and capital investments. The modified procedure for reflecting records for accounting for capital investments, low-value fixed assets, losses from impairment of fixed assets in the intra-company rules for accounting for economic entities becomes relevant. The results of the study can be used when accounting for transactions with fixed assets and capital investments of commercial organizations in the practice of financial accounting.

Research productivity of International Financial Reporting Standards (IFRS) from 2003 to 2020

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Bashir Tijjani ◽  
Shafiq Ur Rehman ◽  
Zachariah Peter ◽  
Ishtiaq Ahmad Bajwa ◽  
Muhammad Ajmal Khan
Keyword(s):  
Bibliometric Analysis ◽  
Financial Reporting ◽  
Research Productivity ◽  
Accounting Standards ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Content Type ◽  
Financial Reporting Standards ◽  
Publication Patterns ◽  
Scopus Database

Purpose This study aims to examine the quantitative research productivity of International Financial Reporting Standards (IFRS) globally by using the bibliometric approach. The method was applied to articles indexed in the Scopus database to analyze the publication patterns, trends and research productivity of the selected papers. Design/methodology/approach Bibliometric analysis is applied to analyze research productivity of IFRS from 2003 to 2020. The method was applied to articles indexed in the Scopus database to analyze the publication patterns and research productivity of the selected papers. Findings This study finds that a good number of articles have been published on IFRS, the top five countries are the USA, UK, Australia, Germany and Canada. This clearly shows that developed markets have the highest number of publications on IFRS. This could be as a result of the early adoption of IFRS by those economies and owing to the interest of researchers in those markets. Most of the studies are quantitative in nature; this study indicates that publication on accounting standards is popular as the number of citations is significant; most of the articles have two or more authors and were published in top-ranking journals. Practical implications This study provides up-to-date literature on the global research productivity of IFRS; as a result, it supports the development of policies by the users of this accounting standards. The findings of this study also serve as a reference point for firms and regulators around the world. Given the thoroughness of the methodology of this study, the results make it easier to effectively identify the direction of research on the implementation of IFRS in organizations. Originality/value This study provides a more comprehensive bibliometric analysis on the growth of IFRS literature (2003–2020) in the Scopus database; most of the prior studies have covered relatively few areas of focus as well as a fewer number of high impact factor journals. The relevance of this finding is in uncovering different areas of IFRS research productivity globally.

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