scholarly journals THEORETICAL AND METHODOLOGICAL ASPECTS OF CHANGES IN ACCOUNTING POLICY ACCORDING TO INTERNATIONAL AND NATIONAL STANDARDS

2020 ◽  
pp. 269-275
Author(s):  
Yu. Serpeninova ◽  
L. Kobyletska ◽  
M. Horodetska
Keyword(s):  
Balance Sheet ◽  
Financial Statements ◽  
National Standards ◽  
Policy Changes ◽  
Accounting Estimates ◽  
The Difference ◽  
The Right ◽  
Methodological Aspects ◽  
Accounting Policy

Accounting policy is an internal document that contains data to ensure effective accounting, preparation and presentation of financial information, which is developed to combine with management decisions. The use of accounting policies should be consistently for similar transactions, other events or conditions. An entity has the right to change accounting policies only with the documentation of changes and their foundation. Cases in which it is possible to change the use to the accounting policies can be voluntary and mandatory. Accountants should use the theoretical and methodological aspects set out in UAS 6 “Error Correction and Changes in Financial Statements” and IAS 8 “Accounting Policies, Changes in Accounting Estimates and Errors” to reflect properly changes in the accounting policies. Due to detailed analysis of these standards, IAS 8 was found to consist all needed methodology of accounting policy changes. The international standard gives variable instructions on: financial statements data change due to the event of factors that exist on this balance sheet; information to be covered in the notes (disclosure) to financial statements; accounting estimate changes, etc. International and national standards disclose changes and amendments to the accounting policies. This fact is very important for the users of the accounting policies and financial statements, as the amendment does not provide any financial statements data change. The company should clearly understand the difference between changes in the accounting policies and accounting estimates, know due to what circumstances retrospective application of changes in the accounting policies is impossible and how reflect them properly in a prospective way. To ease understanding of the described processes an algorithm for using changes in accounting policies according to international and national standards was developed. This will improve the quality of information presented in the financial statements of the company and as a result of using these data top management will make effective decisions.

scholarly journals EARNINGS MANAGEMENT AS A MANIPULATIVE FORM OF FINANCIAL REPORTING

2019 ◽  
Vol 34 (5) ◽  
pp. 1323-1328
Author(s):  
Marija Milojičić ◽  
Snežana Knežević ◽  
Aleksandar Grgur
Keyword(s):  
Earnings Management ◽  
Financial Reporting ◽  
Financial Analysis ◽  
Balance Sheet ◽  
Financial Statements ◽  
Legal Framework ◽  
Business Decisions ◽  
Accounting Principles ◽  
The Republic

The financial statements, as the end product of the accounting information system, are a structural account of the financial position and financial success of an entity's business over a period. Earnings or net profit indicates an important position in the financial statements and is considered as a measure of a company’s success. Earnings management comes from the accounting skills that executives and business owners use when making business decisions. The Generally Accepted Accounting Principles set out in International Accounting Standards (hereinafter IAS) and International Financial Reporting Standards (hereinafter referred to as IFRS) generally give the owner or manager the choice between several accounting methods within the various stages of the accounting process. One of these methods is creative accounting, which is often correlated with the manipulation of financial statements. Creativity in accounting is known to be legal and to stay within the legal framework, but it is often the case that, with its creativity, it is beyond its boundaries. The way managers exercise this discretion is very important to the quality and objectivity of financial reporting.The tendency of the owners, and then the managers, to show the performance of the company better than they really are, is certainly not new. The reason that in the world from the beginning of the 2000s to the present day, both by the scientific and professional public and by the regulatory bodies in charge of financial reporting, particular attention is paid to this problem are the major political and economic scandals caused by the inaccurate presentation of financial statements. It is considered that manipulative accounting practices are applied in the preparation of financial statements when the application of accounting principles is made with the intention of achieving the desired objective, such as, for example, generating greater profit regardless of whether the procedures selected are in accordance with international and local prescribed rules.The prevalence of manipulation of financial statements depends on the situation in the environment, the quality of the normative basis of financial reporting, the quality of management and the ability of accountants to comply with professional and ethical standards. The environment implies the general economic situation, the existence or absence of appropriate legislation, including its implementation, as well as the relation to tax liabilities.The result of the original empirical research is presented in this paper. The research was conducted in the form of a case study of a domestic business entity (the Republic of Serbia), whose main activity is trade in sports and fashion products. The financial analysis was performed using the Beneish model, which was derived from the official financial statements of the companies, collected from publicly available databases (Balance Sheet and Income Statement 2016-2018) as the basic information base in order to discover the degree of possible manipulation of their own earning capacity. This model has become particularly popular since the Beneish M-scoring model revealed the manipulation of the financial results of the US company Enron, which went bankrupt in 2001.

scholarly journals Assessment of vehicle brake control functional stability

2021 ◽  
Vol 12 (2) ◽  
pp. 33-44
Author(s):  
Volodymyr Volkov ◽  
◽  
Igor Gritsuk ◽  
Tetiana Volkova ◽  
Volodymyr Kuzhel ◽  
...  
Keyword(s):  
Energy Consumption ◽  
Control Method ◽  
Operating Conditions ◽  
National Standards ◽  
Passenger Vehicles ◽  
The Difference ◽  
Braking Control ◽  
The Stability ◽  
Friction Surfaces

The article is devoted to the study of the influence of the brake control elements of passenger vehicles on the stability of their braking properties. The analysis of the influence of uneven braking forces on the wheels of one axle of vehicles on the deviation of the distribution of braking forces between the axles from its calculated value is carried out. When assessing the error in regulating the distribution of braking forces between the axles of vehicles, three components were taken into account: the theoretical error due to the imperfection of the selected control method (the difference between the actual calculated control characteristic from the ideal), the error created due to the instability of the ratio of the braking forces on the front and rear wheels, an additional error caused by the unevenness of the braking forces on the wheels of individual axles, since the fulfillment of the most stringent requirements of international and national standards for the efficiency of braking of vehicles and is inextricably linked with the need to increase the energy consumption of brake mechanisms. The energy consumption of braking mechanisms is understood as the ability of the latter to dissipate the greatest amount of energy of the braking machine without reducing the braking efficiency indicators to the minimum permissible level. Excessive heating of the braking mechanisms leads to a decrease in the friction coefficient μ of the friction surfaces and increased wear of the friction linings, and the brakes are the most unstable element of the braking control, which ensures the absorption and dissipation of the vehicle's energy during braking. The instability of the braking torques on the front and rear wheels, caused by a change in the coefficients of friction of friction pairs, leads not only to a change in the distribution of braking forces between the axles and individual wheels, but also to a decrease in the braking efficiency of vehicles under operating conditions. A method is proposed that makes it possible to assess the quality of regulation of the distribution of braking forces between the axles of a car, taking into account the instability of the braking forces on the wheels.

Effect of temperature differentials upon reconstitution of embryonic primordia in Ambystoma

Development ◽  
1971 ◽  
Vol 25 (3) ◽  
pp. 339-345
Author(s):  
Jean Piatt
Keyword(s):  
Statistical Analysis ◽  
Ambystoma Maculatum ◽  
Effect Of Temperature ◽  
Otic Vesicle ◽  
Regenerative Capacity ◽  
Rate Of Development ◽  
The Difference ◽  
The Right ◽  
Two Temperature

Eggs of Ambystoma maculatum in early stages of development were separated into two groups and maintained at 5 and 14 °C, respectively. In one series of animals comprising both temperature groups, the right otic vesicle was extirpated at stage 27. In another series the right forelimb disc was extirpated at stage 30. Following operation, animals of both groups were kept at 18 °C. Frequency and extent of reconstitution were compared between the two temperature groups. The 5° group was superior to the 14° group in the number of ears and forelimbs reconstituted. The extent of ear reconstitution and the initial quality of forelimb reconstitution were also superior in the 5° group. Statistical analysis of the data indicates that the difference between the two temperature groups is highly significant in both series. It is concluded that a slower pre-operative rate of development, caused by hypothermia, enhances the regenerative capacity of both ear and forelimb fields in the salamander embryo.

scholarly journals ФОРМУВАННЯ ОБЛІКОВОЇ ПОЛІТИКИ ЗА ПРИНЦИПОМ БЕЗПЕРЕРВНОСТІ ДІЯЛЬНОСТІ ПІДПРИЄМСТВ

2021 ◽  
pp. 74-81
Author(s):  
Олена Сергіївна Юрченко
Keyword(s):  
Financial Reporting ◽  
Information Needs ◽  
Accounting Standards ◽  
Financial Statements ◽  
Fair Value ◽  
The Real ◽  
Real Value ◽  
The Impact ◽  
Accounting Policy

Formulation of the problem. Based on the study, the prerequisites, features and components of the formation of accounting policies in the context of business continuity are revealed. The purpose of the article is to substantiate the theoretical and methodological and organizational provisions of accounting policy formation in the context of the implementation of the concept of continuity. The object of research is the process of formation of accounting policy and its impact on the quality of corporate financial reporting information. Methods used in the study: scientific knowledge, method of generalization, comparison, logical - meaningful, methods of induction and deduction. The main hypothesis is that the formation of accounting policies aimed at determining the regulations of accounting and reporting from the standpoint of reflecting complete and reliable information about the real value of assets and liabilities will help reconcile the interests of all stakeholders. Presenting main material. The article identifies the prerequisites, directions and elements of the formation of accounting policies on the principle of continuity of enterprises. Provisions on the development of theoretical and methodological foundations for the formation of accounting policies of enterprises on the basis of risk-oriented approach are revealed. The necessity of valuation of assets and liabilities according to the criteria: fair, discounted and market value of enterprises is substantiated and the methodological support of valuation of financial instruments in accounting is revealed. Originality and practical significance are proposals for the formation of methodological and organizational support and recommendations for the measurement of assets and liabilities at fair value in order to improve the quality of financial statements. Research findings. The formation of accounting policy in the context of the principle of continuity is based on the requirements of International Accounting Standards and National Accounting Standards and depends on the needs of management, methods and techniques of accounting. In the process of developing an accounting policy, it is necessary to take into account the information needs of various stakeholders to disclose information in corporate financial statements. The introduction of theoretical and methodological provisions for the formation of elements of accounting policy on the principle of continuity will meet the information needs of different users, improve the quality of financial reporting and assess the impact of accounting policies on the real value of enterprises in the future.

scholarly journals ASPEK HUKUM PENILAIAN HARGA YANG WAJAR DALAM PERTUKARAN BARANG

to-ra ◽  
2015 ◽  
Vol 1 (2) ◽  
pp. 99
Author(s):  
Henry Donald Lombantoruan
Keyword(s):  
Exchange Process ◽  
Market Value ◽  
Financial Statements ◽  
Fair Value ◽  
Goods And Services ◽  
Principle Of Justice ◽  
The Difference ◽  
Economic Transaction ◽  
Special Assessment

Abstract   One of the main principles to ensure economic transactions more efficient and effective is the principle of justice felt by the economic actors. The principle of justice can only be realized if each economic actor mutually agreed upon value (value) of goods and services as well as the currency unit in every economic transaction. In other words, the exchange of (exchange) would not happen if there is no agreement on the value of the underlying economic exchange. In this case, efficient or not an economic system will be determined by how objects are interchangeable assessed. Conditions ‘over-valued’ or ‘under-valued’ of object-exchange will certainly make the transaction does not run efficiently and optimally. Conditions ‘over-valued’ will be very detrimental to consumers and profitable producer or seller. The difference in prices due to ‘over-valued’ is a reflection of the inefficiency of an economy, because consumers should get cheaper products and services. Exchange process in a transaction that took place between economic actors was based on the agreement the fair value of the goods and services both private and state. Fair value (fair value) is basically a reflection of the market value (Market value) of assets. When the fair value opinion generated by the Valuer carried out correctly, of course, will increase improve the quality of financial statements. This is because the value of corporate assets truly reflect the conditions (market value) up to date, so that the company’s assets will not be reported undervalued or overvalued. The problem is, until now we have not had conditions governing special assessment. No new judging partially regulated in the Capital Market Law, Banking and Insurance. In the case there are still many areas that need adjustment of business judgment. The question is, what arrangements benefit assessment?   Kata kunci: Aspek Hukum Penilaian Harga Wajar

scholarly journals PENGARUH GOOD CORPORATE GOVERNANCE TERHADAP EARNINGS MANAGEMENT

2019 ◽  
Vol 8 (1) ◽  
pp. 35
Author(s):  
Hexana Lastanti
Keyword(s):  
Corporate Governance ◽  
Earnings Management ◽  
Audit Committee ◽  
Financial Statements ◽  
Managerial Ownership ◽  
Management Problem ◽  
Good Corporate Governance ◽  
The Difference

<p class="Style2">To be able to achieve good corporate governance, in addition to managerial ownership, institutional ownership and board of directors, the role of the audit committee also needed to further enhance the quality of information contained in the financial statements in accordance with his duties. Good corporate governance is one way to address the practice of earnings management. Study to examine the effect of the mechanisms of good corporate governance on earnings management that uses the data in the Indonesian capital market, still very little is done. Earnings management is a management action in the process of preparing financial statements to influence the level of profit that is displayed. The goal is to improve the welfare of certain parties, which can be identified as an advantage. Earnings management problem is the agency problem that is often triggered by a separation of the role or the difference between the interests of the owners (shareholders) with managing the company's management.</p>

scholarly journals A New Approach for Proper Reporting of Pension Benefit Obligations in the Financial Statements of “Old Funds” for Professionals

2020 ◽  
Vol 13 (8) ◽  
pp. 117
Author(s):  
Carla Morrone ◽  
Maria Teresa Bianchi ◽  
Anna Attias
Keyword(s):  
Financial Reporting ◽  
Balance Sheet ◽  
Financial Statements ◽  
Pension Benefit ◽  
New Approach ◽  
Income Statement ◽  
Pension Liabilities

In this paper, we focus on the disclosure of pension liabilities for entities referred to in Italian Legislative Decree 30 June 1994 no. 509 (also called &ldquo;old funds&rdquo; for professionals), which is crucial for a suitable communication. After illustrating the limits of current statutory financial statements&rsquo; in relation to the information they provide on pension benefit obligations, we propose three potential solutions to bridge the gap. Each of these proposals helps ensure the completeness and clarity of financial reporting and improves upon the informational capacity and quality of disclosure. In our opinion, one of these approaches, in particular, would be preferred because of its ease of adoption. Indeed, the disclosure in the explanatory notes allows for the quantification of pension benefit obligations, and hence a more proper evaluation of entities in the medium/long- term, with no impact on annual economic-financial results as reported in the balance sheet and the income statement.

scholarly journals Correction of Accounting Errors through Post Balance Sheet Event Analysis for Romanian Companies

Economies ◽  
2019 ◽  
Vol 7 (2) ◽  
pp. 29 ◽  
Author(s):  
Monica Laura Zlati ◽  
Valentin Marian Antohi ◽  
Petronela Cardon
Keyword(s):  
Risk Model ◽  
Financial Analysis ◽  
Balance Sheet ◽  
Financial Statements ◽  
Risk Profile ◽  
Event Analysis ◽  
Area Of Interest ◽  
The Impact ◽  
Accounting Errors

The study scope is to present the typology of the events analyzed through our research and their impact on the quality of reported financial data. The objectives of the study are to analyze the vulnerability of enterprises according to methodological criteria such as risks and calculations of the risk profile, as well as to establish the necessary measures for correcting the accounting errors based on the conclusions drawn from the analysis. The method used is prospective, financial analysis of the data taken from the financial statements of the companies included in the sample, dynamic for a period of 6 years (2011–2016). Based on the method used, a risk model has been conceptualized to identify the vulnerabilities and risks reported in the financial statements and to define a company risk profile based on which error correction measures can be adopted. Considering the amplitude of the necessary check-ups and the methodology of the imposed accounting treatments, we believe that the topic addressed is a real area of interest for the professional accountants because it organizes the application procedures and limits the impact of errors on the quality of financial reporting in Romania.

Supply Chain Management for Agri Foods Using Blockchain Technology

2021 ◽  
pp. 46-69
Author(s):  
Niranjan Dandekar ◽  
Amit Dua ◽  
Manik Lal Das ◽  
Viral A. Shah
Keyword(s):  
Supply Chain ◽  
Supply Chain Management ◽  
Food Safety ◽  
Holistic Approach ◽  
Fair Share ◽  
Chain Management ◽  
Blockchain Technology ◽  
The Difference ◽  
The Right

The agricultural supply chain consists of many participants like producer (generally farmer), consumer (people who buy the product and consume them), wholesalers, and retailers. This system consists of many levels of mediator parties as well which have different policies of the commission. Due to the difference in these policies, the producers do not get their fair share of price. Due to the varying prices, consumers also suffer as they do not get the right quality of the product for the right price. There are no central records maintained regarding the transactions between the participants which could lead to many serious problems. To tackle the above-mentioned issues, we need a holistic approach that can provide solutions to most of the above issues. Here, blockchain-based solution can be used to achieve traceability (we can trace the whereabouts of the product, the origin of the product, etc.), transparency (so that a sense of trust is achieved), fairness (by removing the intermediaries), assurance of food safety and pricing (so that nobody has to bear the loss).

scholarly journals IMPLEMENTASI PENYUSUNAN LAPORAN KEUANGAN BERDASARKAN SAK EMKM PADA UMKM PASTELLIA INTERMODA BUMI SERPONG DAMAI DENGAN MENGGUNAKAN APLIKASI SI APIK PERIODE 2018 – 2019

2021 ◽  
Vol 4 (2) ◽  
pp. 160
Author(s):  
Bettynia Dwi Orparani ◽  
Yumniati Agustina
Keyword(s):  
Comparative Analysis ◽  
Balance Sheet ◽  
Financial Statements ◽  
Financial Accounting ◽  
Financial Reports ◽  
Financial Position ◽  
Income Statement ◽  
Fixed Assets ◽  
The Difference ◽  
Descriptive Method

The purpose of this study is to evaluate whether the financial statements based on SAK EMKM have been applied by Pastellia Intermoda Bumi Serpong Damai SMEs, compare the financial statements of Pastellia Intermoda Bumi Serpong Damai SMEs with Si Apik's version of the financial statements, and interpret the results of a comparative analysis which is then drawn into a conclusion. . This research method is a comparative & descriptive method. Data obtained through interviews, observation. Comparative analysis of the data by analyzing the presentation of the financial statements of Pastellia Intermoda Bumi Serpong Damai SMEs with a theory that refers to the Financial Accounting Standards for Micro, Small and Medium Entities (SAK EMKM) and comparing financial statements manually with financial reports using the Si Apik application. The results of this study are that the types of financial statements produced are statement of financial position (balance sheet), income statement and cash flow statement, and do not make notes on financial statements (CALK) so that they are not in accordance with SAK EMKM. The difference between the financial statements produced by Pastellia Intermoda Bumi Serpong SMEs and the Si Apik application is in the statement of financial position and income statement related to depreciation of fixed assets

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