Deferred expenses: Theory and practice of accounting

2021 ◽  
Vol 22 (9) ◽  
pp. 968-985
Author(s):  
Tat'yana Yu. SEREBRYAKOVA
Keyword(s):  
Systems Approach ◽  
Financial Statements ◽  
Economic Benefits ◽  
Theory And Practice ◽  
Regulatory Documents ◽  
Financial Position ◽  
Related Information ◽  
Special Procedure ◽  
The Russian Federation

Subject. This article examines the issues related to the operations of deferred expenses for the relevance and necessity of applying a special procedure for attributing costs that may belong to future periods, to the expenses of the reporting period. Objectives. The article aims to find a logically verified methodology for accounting for costs related to the current and future periods and their reflection in the financial statements. Methods. For the study, I used a systems approach and logical generalization. Results. The study shows that in the organizations’ business life, there are cases of a need to accumulate certain types of costs on a special account with their subsequent write-off for expenses in the periods when these costs begin to bring economic benefits. Such costs must be significant in amount and be of an investment nature. Otherwise, there are risks of the accrual principle (assumption) violation. Conclusions and Relevance. The accounting regulator in the Russian Federation needs to make adjustments to the regulatory documents that determine the procedure for classification, accounting and disclosure of information in the accounting (financial) statements, providing in the first section of the financial position report an unambiguously interpreted item for deferred expenses not attributable to the reporting years, as well as related information in other forms of accounting (financial) statements. Adjustments also need to be made to existing accounting provisions to eliminate conflicts and discrepancies with respect to deferred expenses. The results of the study are intended to develop theoretical views on the methodology of accounting for costs and expenses of organizations and the promotion in practice of this approach to the classification of costs between current and deferred expenses.

Theory and practice of analysis of financial statements of organizations

2021 ◽  
Author(s):  
Natal'ya Parushina ◽  
Oksana Gubina ◽  
Vitaliy Gubin ◽  
Inna Butenko ◽  
Natal'ya Suchkova ◽  
...  
Keyword(s):  
Higher Education ◽  
Graduate Students ◽  
Financial Services ◽  
Financial Statements ◽  
Theory And Practice ◽  
Financial Accounting ◽  
Federal State ◽  
Educational Standards ◽  
Universities And Colleges ◽  
Regulatory Documents

The textbook discusses the theoretical and practical aspects of the analysis of financial statements of organizations in various fields of activity. The theory and practice of the analysis of reporting forms are based on the use of modern regulatory documents in the field of accounting and tax accounting, auditing, statistics. The textbook reflects the features of the analysis of financial, accounting, tax, statistical reporting of organizations based on the use of a system of analytical indicators and the interconnection of reporting forms. Examples of execution of analytical documents of the economist-analyst are given, which allow to visualize the process of conducting and summarizing the results of the analysis of reporting indicators in organizations of various types of activity. Meets the requirements of the federal state educational standards of higher education of the latest generation and includes a course of lectures, discussion questions, tests, practical situations and tasks. For undergraduate and graduate students, graduate students, teachers of economic universities and colleges, auditors, accountants, economists, employees of tax, statistical and financial services.

ISSUES OF REGULATING PRICES FOR SEPARATE FOOD PRODUCTS IN THE ASPECT OF ENSURING THE ECONOMIC SECURITY OF THE RUSSIAN FEDERATION

2021 ◽  
Vol 1 (8) ◽  
pp. 20-36
Author(s):  
M. Yu. LEV ◽  
Keyword(s):  
Economic Theory ◽  
Market Economy ◽  
Economic Security ◽  
Price Regulation ◽  
Theory And Practice ◽  
Regulatory Documents ◽  
Consumer Prices ◽  
Foreign Countries ◽  
Economic Program ◽  
The Russian Federation

The paper examines the legislation on price regulation in certain industrially developed foreign countries in modern conditions of market economy. The development of the economic theory and practice of price regulation in the XX century in foreign countries is considered. The analysis of regulatory documents regulating prices for products in Austria, Belgium, France; changes in consumer prices in Russia and foreign countries is carried out. It is concluded that in ensuring the socio-economic security of the state, it is necessary to actively search for an economic theory that could become the foundation of a government economic program aimed at improving the welfare of the population.

Trailering accommodation requirements: analysis of specifications

Servis plus ◽  
10.12737/3895 ◽  
2014 ◽  
Vol 8 (2) ◽  
pp. 65-70 ◽  
Author(s):  
Алексей Корнеев ◽  
Aleksey Korneev ◽  
Александр Ермаков ◽  
Aleksandr Ermakov ◽  
Даниил Черепанов ◽  
...  
Keyword(s):  
Quality Of Service ◽  
Service Level ◽  
International Standards ◽  
Regulatory Documents ◽  
The Core ◽  
Infrastructure Network ◽  
Methodical Basis ◽  
The Russian Federation

The article crowns the latest in a series of stages of research conducted for the purpose of creating a scientific and methodical basis for the development of amateur trailering and autoclusters as a system in the Russian Federation. For the purpose of justification of various models of autoclusters, the researchers studied the experience of the countries which have a dense trailering infrastructure network, consider the existing classification of the means of accommodation for autotourists in Europe, and propose classification-level-related lists of the core and additional services as provided by accommodation owners. The researchers studied the opinions of domestic users to identify the significance of services on campsites, and conclude that top-rated is the provision of essential / primary services (guarded parking, water supplies, shower, and toilet). The quality of service is assessed not only on the provided-unavailable basis, but also according to the service level. The researchers draw attention to the importance of harmonizing all the requirements specified as relevant for autotourist accommodation facilities in national regulatory documents and in compliance with international standards.

THE POST 1947 PLAN ERA During the 1950s, the Higher Council of Accounting made the first revision of the 1947 Plan. The new Plan was approved in 1957. The Council mainly devoted its efforts to improving the various elements of the 1947 Plan while retaining its framework and giving the cost accounting section of the plan more flexibil­ ity. A 1962 decree required the 1957 Plan be used in the private economic sector. The 1957 Plan thus became legally binding in over eighty lines of business for which particular plans were developed. Further, in the 1960s, the 1957 Plan served as basis for the development of the Plan for the African, Madagascar and Mauritius Organization (grouping of former French colonies) by a group of experts from the National Council of Accounting and INSEE. With changing economic conditions in France, the passing of new laws, the rapid development of information processing tech­ niques and the internationalization of trade and capital markets, the Accounting Plan needed revision. The need to improve the possibilities for financial and economic analysis offered by the plan’s financial statements played an important role in drafting the revised plan’s conceptual framework; in fact, this consider­ ation dominated the first phase of the revision (1970 to 1975). The new proposed plan changed the classification criteria adopted in the 1947 and 1957 Plans, and introduced a number of innovations. The classification of balance sheet elements according to their de­ gree of liquidity/maturity was replaced by a classification of assets and liabilities according to their economic function in the firm. The impact of tax regulations on accounting income and on the balance sheet was to be shown separately in accounts such as regulated provisions. The presentation of a statement of changes in financial position was to be made mandatory as a result of banks’ and financial analysts’ requests for information about the impact of the firm’s transactions on its financial position. In the income statement, components of production were to be shown separately, and computation of value added was required to meet national accountants' information needs. These changes were ap­ proved by the National Council of Accounting (Conseil National de la Comptabilite) in 1975. Unfortunately, the 1975 Plan could not be adopted as such, since it had to be harmonized with the requirements of the Euro­ pean Economic Community (EEC) directive on company financial statements, which was approved in 1977. The EEC fourth direc­

2014 ◽  
pp. 353-353
Keyword(s):  
Information Needs ◽  
Rapid Development ◽  
Balance Sheet ◽  
Value Added ◽  
Financial Statements ◽  
National Council ◽  
Financial Position ◽  
The 1960S ◽  
The Impact

Financial statement audit: An investigation into laws and regulations

2020 ◽  
Vol 23 (4) ◽  
pp. 141-427
Author(s):  
S.V. Kozmenkova ◽  
V.I. Tsyganov
Keyword(s):  
Comparative Analysis ◽  
Financial Reporting ◽  
Russian Federation ◽  
Financial Statements ◽  
Theory And Practice ◽  
Financial Statement ◽  
International Standard ◽  
Legal Documents ◽  
Financial Statement Audit ◽  
The Russian Federation

Subject. This article deals with the matters related to the audit of financial statements. Objectives. The article aims to analyze the procedure for the study of financial and economic transactions in order to ensure compliance with legal documents regulating accounting and financial reporting. Methods. For the study, we used a comparative analysis, systematization, induction and deduction. Results. The article clarifies the objectives of financial statement audit, including verification of compliance of financial and economic transactions with the relevant regulations of the Russian Federation, as well as procedures for planning and documenting audit of financial statements based on the requirements of the International Standard on Auditing 250 (ISA 250) (revised). It also identifies problematic issues in the content of ISA 250 and formulates certain proposals to clarify it. Conclusions and Relevance. The article concludes that both the global and Russian audit practices require a thorough review of compliance of activities and financial reporting with the regulations in order to achieve the audit goal. The results presented can be applied in both audit theory and practice.

Generalized geographical analysis of a set of priority measures to eliminate accumulated environmental damage

2017 ◽  
Vol 923 (5) ◽  
pp. 50-55
Author(s):  
E.A. Kravets
Keyword(s):  
Industrial Structure ◽  
Environmental Damage ◽  
Accurate Information ◽  
Industrial Enterprises ◽  
Regulatory Documents ◽  
Precise Mapping ◽  
The Russian Federation ◽  
Environmental Measures ◽  
State Of The Environment

The author made testing of cartographic method of analysing regulatory documents. Schematic cartographic mapping and analysis of the planned priority measures for the elimination of accumulated environmental damage were done in this article. Classification of the original normative legal act was used. Limitations of accuracy represented by the cartographic material was specified. Local and substantial gaps in the list of relevant environmental measures were identified and classified on the basis of the analysis performed by the map-scheme. Ways compensation this data lack on the basis of the available industrial structure of these regions of the Russian Federation are scheduled. An indicative list of current and closed industrial enterprises is presented, which can be a true implementation of measures to eliminate accumulated environmental damage. Increasing the availability of more detailed and accurate information about the state of the environment and impacts will enable more precise mapping of environmental problems and details to design their solutions.

scholarly journals Classification of management errors within the scope of the basic notions of Korogodin’s theory of goal-oriented systems

2021 ◽  
Vol 33 (1) ◽  
pp. 5-15
Author(s):  
Eduard A. Sosnin ◽  
◽  
Boris N. Poizner ◽  
Keyword(s):  
Public Administration ◽  
Goal Setting ◽  
Systems Approach ◽  
Organizational Management ◽  
Theory And Practice ◽  
Management Decision ◽  
Problem Situations ◽  
Management Decision Making ◽  
By Products

Introduction. The issue of goal-setting in management in general and in public administration, in particular, is one of the most relevant and important for management theory and practice. The purpose hereof is to study and reveal the mechanism of goal-setting in management. Materials and methods. The article is based on Korogodin’s theory of goal-oriented systems. The works on public administration, social construction and management, as well as foreign research on organizational management and business, are used herein. Results. A simple classification of typical management errors from the standpoint of the theory of goal-oriented systems is given: those related to goals, resources, operators, and by-products. Discussion and conclusion. The potential of using the teleonomic systems approach for the analysis of problem situations in management has been demonstrated. A strict and logical classification makes it possible to algorithmize the management decision-making process.

scholarly journals Assessing the Correlation Between GMP Deviations and Potential Quality Defects of Medicinal Products: the Result of the Survey of Qualified Persons

2020 ◽  
Vol 9 (2) ◽  
pp. 151-158
Author(s):  
V. A. Orlov ◽  
V. N. Shestakov
Keyword(s):  
Russian Federation ◽  
Good Manufacturing Practice ◽  
Class I ◽  
Medicinal Products ◽  
Main Hypothesis ◽  
Risk Class ◽  
Regulatory Documents ◽  
The Russian Federation ◽  
Methodological Guidelines

Introduction. One of the key issues in the field of assessing the conformity of drug manufacturers with the requirements of good manufacturing practice (GMP) is a systematic methodology for classifying revealed deficiencies (deviations, non-conformities) by their level of criticality. Today the information included into regulatory documents regarding the definitions of critical, major and minor (other) deficiencies is not always sufficient for the use in GMP inspection practice, as well as in quality management systems of the pharmaceutical manufacturers. In terms to study approaches to the classification of GMP deviations applied in the practice of the Qualified persons of drug manufacturers in the Russian Federation, a survey was conducted in the form of a questionnaire. This work became a logical continuation of a previous study among employees of the pharmaceutical inspectorate of the Russian Federation.Aim. To identify the correlation between the classification of critical and major GMP deviations and potential class I and II quality defects of medicinal products.Materials and methods. The study was based on a survey of Qualified persons of drug manufacturers (56 respondents) using a questionnaire specially designed. The main hypothesis of the study is that specialists (Qualified persons) who make decisions on the classification of GMP deviations are guided by potential quality defects that may be caused by the indicated deviations. In the framework of the study, authors used the model of gradation of quality defects of the medicinal products into 3 classes (class I, II and III) according to the rate of their significance as indicated in the PIC/S and EMA guidelines. At the same time, for GMP deviations a three-level gradation system is also used: Critical, Major and Minor (Other). In designing of questionnaires for the survey, the focus was made on examples of quality defects of classes I and II and, accordingly, Critical and Major GMP deviations.Results and discussion. The results of the processing and analysis of questionnaires summarize the opinion of the majority of respondents about the direct relationship between product quality defects of the high risk (class I) and critical GMP deviations. Respondents also expressed the opinion that deviations that could trigger the occurrence of the class II quality defects in most cases will be classified as critical. The results obtained during the study also indicate the similarity of existing approaches of the classification of GMP deviations (deficiencies) between QPs of the drug manufacturers and pharmaceutical inspectors.Conclusion. The results of the study show that for the purpose of classifying (determining the criticality) of GMP deviations (deficiencies) , it is possible to use the rating system for the quality defects of medicinal products by the rate of their significance for the patient which is presented in EU regulatory documents and PIC/S guidelines. The results of the study also will facilitate the drawing of conclusions that today, not only from the position of regulatory authorities, but also for the pharmaceutical industry, there is a need to develop methodological guidelines with a focus on a risk-based classification of GMP deviations (deficiencies). These guidelines should take into account the potential impact of the mentioned GMPdeviations on the occurrence of the quality defects of medicinal products and, as a result, threats to the life and health of patients.

scholarly journals ANALISIS PENYAJIAN LAPORAN KEUANGAN PADA PT.MULTISARANA BAHTERAMANDIRI BERDASARKAN PSAK NO.1 DAN NO.2

2013 ◽  
Vol 8 (4) ◽  
Author(s):  
Mizaco Ofayda Darmawan ◽  
Agus Toni Poputra ◽  
Winston Pontoh
Keyword(s):  
Cash Flow ◽  
Descriptive Analysis ◽  
Accounting Standards ◽  
Financial Statements ◽  
Theory And Practice ◽  
Financial Accounting ◽  
Financial Statement ◽  
Financial Position ◽  
Income Statement ◽  
The Difference

Statement of Financial Accounting Standards (SFAS) number 1 and 2 states that financial statements should present fairly the financial position, financial performance, changes in equity and cash flow. Companies to implement SFAS correctly with the required disclosures in the Notes to the Financial Statements. Objects in this research is PT.Multisarana Bahteramandiri. The purpose of this study is to analyze the financial statement presentation PT.Multisarana Bahteramandiri under SFAS Number 1 and 2. The method used is descriptive analysis method is an analytical tool that compares two different aspects of theory and practice that need to be met in order to know the difference, as far as what the difference is. Results of the analysis of these data showed that PT.Multisarana Bahteraamandiri not fully implemented SFAS number 1 and 2 in the company's financial statement presentation. Because the company only present a statements of financial position, income statement, cash flow statement, as well as company-specific notes. The company also not disclose a statement of compliance with the Statement of Financial Accounting Standards (SFAS) number 1 and 2 in the notes to financial statements.

scholarly journals CRITERIA AND APPROACHES FOR DIFFERENTIATION OF ACCOUNTING ESTIMATES FROM THE ESTIMATES OF INDEPENDENT ESTIMATES

2019 ◽  
Vol 33 (1) ◽  
pp. 21-26
Author(s):  
Valentina Staneva
Keyword(s):  
Financial Statements ◽  
Economic Benefits ◽  
Theory And Practice ◽  
Professional Organization ◽  
Evaluation Standards ◽  
Specific Performance ◽  
Accounting Estimates ◽  
The Law ◽  
Accounting Theory ◽  
Definition Of

Changes and updates to accounting concepts, interpretations, definitions and recognition criteria of assets and liabilities, require periodic updating of accounting estimates for their proper presentation in the financial statements of the non-financial sector. It is common in business enterprises to use the services of independent evaluators whose activity is regulated by the Law on independent valuers. Their activity is crucial for accurate representation of the economic information within the accounting in enterprises. They have the same meaning and preparing accounting estimates issued in connection with the judgments of management regarding the expected economic benefits in the use of assets. In accounting and legal practice is often equated between thеse two assessments. These are two assessments issued in connection with the accounting of business in enterprises.With their juxtaposition and analysing, it is possible to answer the question whether they have common characteristics, based on which it can justify equating them.The relationship between the accounting estimate and the valuation of an independent valuer provokes discussions in accounting theory and practice. The fact is that after many changes in accounting standards currently has no unambiguous definition of an accounting estimate, but there is a definition for a change in accounting estimates.In the present study suggests the terminology, distinguishing criteria and practical approaches to uniquely define and logical linking of interactions and processes associated with the use of accounting estimates and their differentiation from estimates prepared by an independent valuator under the Law on independent valuers for the purposes of accounting in the enterprise.Based on the deduced theory and legislative definitions and features, a comparison is made between the two assessments, seeking specific performance indicators for their differentiation. The purpose of this differentiation is to reduce uncertainty and contradictions in their practical application in accounting theory and practice.The analysis shows that the implementation of the Bulgarian Evaluation Standards aims at approximation and harmonization with the European requirements and tendencies for imposing the profession of independent appraiser and the implemented policies by TEGoVA, as the leading organization of appraisers, in which the professional organization of the Chamber of Independent Appraisers in Bulgaria is a member.

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