scholarly journals Przesłanki i warunki wykorzystania rachunkowości i analizy finansowej w biznesplanie małego przedsiębiorcy

2010 ◽  
Vol 6 ◽  
pp. 141-156
Author(s):  
Kinga Bauer
Keyword(s):  
Business Plan ◽  
Financial Statements ◽  
Financial Accounting ◽  
Business Organization ◽  
Managerial Accounting ◽  
Accounting Data ◽  
Business Goals ◽  
Economic Decision Making ◽  
Financial Analyses ◽  
Formal Statement

A business plan focuses on a formal statement of the set business goals, the reasons why theyare believed attainable, and the plan for reaching those goals. It may also contain informationabout the organization. A business plan is usually created for the benefit of the external ownersof capital. The most important information for investors is that about costs, profits and risk.Accounting provides information about a separate economic unit. Accounting informationis verifiable, objective and quantitative. It is the basis for economic decision making. The accountinginformation system basically serves two categories of users – those that are external tothe business organization and those that are internal. Both financial and managerial accountingare possible. Organizations require both. Financial accounting is primarily for those externalto the organization; managerial accounting is for the internal use of managers, but it can alsobe used by external users. Accounting data can be used in a business plan.The demand for accounting data has grown rapidly because it increases knowledge andreduces risk. Financial institutions that supply the business with capital for investment orexpansion are very interested in such factors as the reputation and ability of the company’smanagement, its ability to meet its financial obligations, and its prospects for future success.A company’s financial statements, financial analyses and managerial accounting are an importantsource of this information. To reduce their risks lenders can demand accounting data in abusiness plan.

scholarly journals Cost with time can yield reliable and relevant financial accounting information

2004 ◽  
Vol 2 (1) ◽  
pp. 60-72 ◽  
Author(s):  
Eno L. Inanga ◽  
Bruce Schneider
Keyword(s):  
Decision Making ◽  
Accounting Information ◽  
Financial Statements ◽  
Financial Accounting ◽  
Corporate Accountability ◽  
Accounting Data ◽  
Historical Cost ◽  
Lead Users ◽  
Accounting Reports ◽  
Nominal Amount

It is generally accepted that one of the key financial accounting problems of the day is how to make financial accounting reports, as tools for corporate accountability and stewardship reporting, both reliable and relevant. Practitioners, rule makers, and academics are struggling with this dilemma that is inherent in historical cost financial statements. This paper suggests that historical cost, transactions- based accounting data is nominally reliable, which is an attribute of relevance, but it can be made timelessly relevant, if data about the precise date and time the nominal amount of the transaction was measured are made available to users. Furthermore, the presumption those company-related accountants and the auditors need to prepare a set of financial statements that they need to make relevant to an unknown set of users, should be abandoned. The valuation algorithm, the processes for making historical cost data relevant to situation-specific decision-making, are the prerogative and, most importantly, the responsibility of the users based on their perceptions of the dynamic, quantum world and their unique needs. The paper develops the logical reasons for the positions taken. It also argues that US-GAAP and the resulting financial statements may lead users of accounting information to allege that the financial statements are fraudulent. It is well-recognized by accountants and users that time, the details of which are currently under-reported, is a material fact related to the significance and usefulness of accounting information. Thus, the omission of facts about when the measurements were made, known to be important to understanding the reported information, may be the basis for the allegation of fraud.

suits of operations. The ordres were linked together either by double-entry or by the use of contra-accounts. The plan's double­ entry systems were as follows [CNOF, 1946]: Financial accounting Ordre 1 — Operating accounts (revenues and expenses) (accounting elements seen as causes) Ordre 2 — Balance sheet accounts (assets and liabilities) (effect of transactions on the company's position) Managerial accounting Ordre 3 — Cost accounts and sales accounts (transactions classified as to purpose) Ordre 4 — Imputation or contra-accounts Budgetary accounting Ordre 5 — Budgeted operations Ordre 6 — Budgeted liquidities Ordre 7 and 8 were left open, in case other accounting systems were developed in the future. Ordre 9 was devoted to commit­ ments and transitory accounts, such as purchases and sales in cash, and internal transfers. In financial statements, transitory ac­ counts were to be replaced by the ordre to which they were related (1 or 2), and commitments were to be listed at the end of the balance sheet. Each ordre was further divided into categories, each having its own specific meaning. For example, the categories found in ordre 1 were charges and revenues that are included in the gross profit margin, operating charges and revenues, investment-related charges and revenues, administrative charges, miscellaneous rev­ enues and financial charges. These categories were further grouped to provide the following summary accounts: the gross profit margin, results of operations, net revenue from investments, net administrative charges and financial charges. The classifica­ tion adopted in that ordre was based first on the economic func­ tion of the transactions and second on their nature. Another ex­ ample of the breakdown of an ordre into categories is provided by ordre 2. In the latter, assets were divided, according to their eco­ nomic function in the company and their degree of liquidity, into fixed assets, investments, short-term assets (inventories and short­ term investments), receivables and liquid assets (cash and cash equivalents). Ordre 3 and 4 were devoted to cost accounting, constituting a 287

2014 ◽  
pp. 343-343
Keyword(s):  
Balance Sheet ◽  
Financial Statements ◽  
Profit Margin ◽  
Financial Accounting ◽  
Managerial Accounting ◽  
Accounting Systems ◽  
Fixed Assets ◽  
Net Revenue ◽  
Specific Meaning ◽  
Double Entry

scholarly journals Ways of Detection of Creative Accounting in a Global Economy

2021 ◽  
Vol 129 ◽  
pp. 03012
Author(s):  
Lenka Hrosova
Keyword(s):  
Global Economy ◽  
Accounting Information ◽  
Value Added ◽  
Financial Statements ◽  
Accounting Data ◽  
Creative Accounting ◽  
Economic Decision Making ◽  
Fair Representation ◽  
Accounting Principle ◽  
Source Of Information

Research background: Any entity operating in a global economic environment is required to conduct an accounting agenda in such a way that its financial statements are prepared in a clear, comprehensible manner and adhere to the accounting principle of fair and true presentation of accounting facts as it serves as a source of information for internal and other external entities using this information in its economic decision-making. It is the principle of accurate and true presentation of accounting information that plays an important role in the field of creative accounting, in which the accounting data is adjusted or manipulated to the desired form. Purpose of the article: The main goal of this paper is to point out the issue of creative accounting and the possibility of its detection using selected models. Methods: The methodological part is focused on the application of the Beneish model and CFEBT model assuming the use of creative techniques in the period 2016-2020. Findings & Value added: The summary of the results of the analysis thus points to the use of creative accounting in a given accounting entity according to the Beneish model and CFEBT model, but this accounting entity, despite its use, did not violate the principle of a true and fair representation of the accounting reality.

Good Intentions at Good Grains, Inc.

2012 ◽  
Vol 28 (1) ◽  
pp. 115-129 ◽  
Author(s):  
Susan B. Hughes ◽  
Cathy Beaudoin ◽  
Russell R. Boedeker
Keyword(s):  
Financial Reporting ◽  
Financial Statements ◽  
External Pressure ◽  
Financial Accounting ◽  
Managerial Accounting ◽  
Ethical Considerations ◽  
Generally Accepted Accounting Principles ◽  
Financial Reporting Standards ◽  
Gray Area ◽  
Accounting Principles

ABSTRACT: This case addresses the “gray” area associated with the use of accounting discretion as it relates to expense line item reclassifications. Such a context allows for an examination of the pressures that influence accounting decisions, and provides a glimpse into how managers might manage reported expenses. The reader meets analyst David Johnson when, as a result of both internal and external pressure to keep research and development (R&D) costs within budget, he is asked to find ways to reclassify R&D costs into other expense areas. As a result of the request, David immerses himself in the task in order to identify, within generally accepted accounting principles (GAAP), opportunities to reclassify R&D expenses to cost of goods sold. He ultimately proposes three separate reclassification entries that, although technically within GAAP guidelines, involve the use of accounting discretion. All three entries are approved by the accounting team. Financial accounting, managerial accounting, and M.B.A. students report that the case enhanced their knowledge of financial reporting and helped them understand ethical considerations associated with the preparation of financial statements. Accounting professionals report the case realistically depicts what accountants face in the workplace. A case extension using International Financial Reporting Standards (IFRS) is also provided.

The Impact of Inflation Accounting on Marketing Decisions

1980 ◽  
Vol 44 (4) ◽  
pp. 9-17 ◽  
Author(s):  
Frederick E. Webster ◽  
James A. Largay ◽  
Clyde P. Stickney
Keyword(s):  
Financial Reporting ◽  
Financial Accounting ◽  
Financial Statement ◽  
New Product Introduction ◽  
Managerial Accounting ◽  
Product Introduction ◽  
Accounting Data ◽  
Inflation Accounting ◽  
The Impact ◽  
American Economy

Persistent inflation in the American economy has led accounting rule makers to require large firms to report the effects of inflation on certain of their financial statement data. At present, these adjusted data are to be presented as supplementary disclosures under Statement of Financial Accounting Standards No. 33, “Financial Reporting and Changing Prices.” One major result will be significant changes in cost estimates and asset valuations. The changes in financial accounting requirements are likely to be reflected almost immediately in managerial accounting procedures, with specific implications for marketing decisions in such areas as new product introduction, pricing strategy, and the valuation of individual customers and market segments. The authors describe the new accounting data briefly and, using examples, illustrate the implications for marketing managers.

scholarly journals Accounting Data and the Balanced Scorecard - Goals and Indicators

2021 ◽  
Vol 4 (1) ◽  
pp. 116
Author(s):  
Musinszki Zoltán ◽  
Süveges Gábor Béla
Keyword(s):  
Balanced Scorecard ◽  
Management Accounting ◽  
Research Question ◽  
Financial Accounting ◽  
Strategic Decision ◽  
Managerial Accounting ◽  
Accounting Systems ◽  
Accounting Data ◽  
The Balanced Scorecard ◽  
Strategic Goals

In their study, Relevance Lost: The Rise and Fall of Management Accounting, Johnson and Kaplan concluded that management accounting systems since the 1980s have failed to meet the new challenges of a changing environment. Among other things, because managerial accounting has been subordinated to the needs of financial accounting. Financial accounting cannot provide adequate information to management and does not support strategic decision making. The reason for this can be found in the operational logic of financial accounting. Financial accounting is past-oriented, it evaluates (economic) events in money, and thinks in the short term. Would all this mean that financial accounting data cannot be used to support long-term decisions? In our study, we point out the connection between financial accounting data assets and strategic decision support. Our research question focuses on how financial accounting data, including an invoice issued by a company, can be used in Balanced Scorecard perspectives. Based on the content of the Balanced Scorecard, we want to point out where and what kind of relationship can be observed between financial accounting data assets and the BSC. Through a case study, we will present the strategic goals as well as the indicators suitable for measuring the goals. These will be presented for all aspects of the Balanced Scorecard.

Assessment of changes in the application of the accounting regulation pbu 18/02 “Аccounting for income tax calculations” since 2020

2020 ◽  
pp. 10-24
Author(s):  
Irina Selezneva ◽  
Irina Selezneva ◽  
Elena Shlyapnikova
Keyword(s):  
Income Tax ◽  
Financial Statements ◽  
Accounting Data ◽  
Current Income ◽  
Accounting Regulation ◽  
New Concepts ◽  
Net Profit ◽  
The Russian Federation ◽  
Ministry Of Finance ◽  
Tax Payers

The article assesses the changes made by the Order of the Ministry of Finance of the Russian Federation dated 20.11.2018 No. 236n v PBU 18/02 “Accounting for settlements with the budget for income tax”. The application of the new norms of PBU 18/02 is mandatory for corporate income tax payers with accounting (financial) statements for 2020. The essence of the problem is that the updated PBU 18/02 contains new concepts, new calculations of indicators necessary for reflection in accounting and accounting (financial) statements. The article consists of six parts, beginning with an introduction and ending with conclusions. The introduction substantiates the relevance of the study. At the beginning of the article, the purpose and objectives of the research are defined, as well as the materials, methods and conditions for conducting the research. The results of the study and their discussion are presented below. In the article, the authors highlight the problem of transition from the previously existing norms of PBU 18/02 to the new norms applied from 2020. The main part compares the concepts and indicators used in 2019 and 2020 in accordance with the requirements of PBU 18/02. The article also addresses the issues of evaluating work in progress in accordance with the requirements of regulatory legal acts in the field of accounting and taxation. The procedure for applying the norms of PBU 18/02 is shown on a specific example and the calculation procedures made that justify the occurrence of temporary differences that lead to the recognition of deferred income tax, as well as conditional income tax expense and current income tax on the accounting accounts. For clarity and comparison, the indicators for the application of PBU 18/02 in 2019 and 2020 are presented in the tables. In addition, the tables show the schemes of accounting transactions for accounting calculations with the budget for income tax in two ways to determine the current income tax: based on accounting data and based on tax Declaration data. Having considered a specific example of the procedure for applying the norms of PBU 18/02 in the version up to 2020 and in the current version from 2020, the authors conclude that changes in the procedure for identifying temporary differences do not mean a change in their value and the value of net profit

PROFESSIONAL DOMINANCE: THE RELATIONSHIP BETWEEN FINANCIAL ACCOUNTING AND MANAGERIAL ACCOUNTING, 1926–1986

2002 ◽  
Vol 29 (2) ◽  
pp. 91-121 ◽  
Author(s):  
Alan J. Richardson
Keyword(s):  
Management Accounting ◽  
Financial Accounting ◽  
Managerial Accounting ◽  
Letters To The Editor ◽  
Management Accountants ◽  
Professional Dominance ◽  
The Relationship

This paper examines the relationship between financial and managerial accounting as reflected in articles, editorials and letters to the editor published in Cost and Management, the Canadian trade magazine for management accountants, between 1926 and 1986. It has been claimed that during this period management accounting techniques lost their relevance to manufacturers, in part, due to the dominance of financial accounting over managerial accounting. This is also the period in which management accounting struggled to become recognized as a profession distinct from financial accounting. The analysis thus focuses on the jurisdictional dispute between financial and managerial accounting and the mechanisms by which managerial accounting was subordinated to financial accounting. The paper identifies the technical, organizational and professional mechanisms used to subordinate managerial accounting. The paper also demonstrates that management accountants were aware of the consequences of their relationship to financial accounting for the relevance of their techniques. Contemporary events suggest that the intersection of financial and managerial accounting remains disputed territory.

Selecting Railway Investments in 1890s America

2017 ◽  
Vol 44 (1) ◽  
pp. 77-93
Author(s):  
Joel E. Thompson
Keyword(s):  
Financial Reporting ◽  
Accounting Information ◽  
Accounting Standards ◽  
Financial Accounting ◽  
Investment Strategies ◽  
Financial Accounting Standards Board ◽  
Accounting Data ◽  
Rational Decisions

ABSTRACT The purpose of financial reporting is to provide information to investors and creditors to help them make rational decisions (Financial Accounting Standards Board [FASB] 2010). Tracing the development of investors' methods should help with understanding the role of financial accounting. This study examines investment practices involving railways in 1890s America. As such, it furthers our knowledge about the development of investment methods and their necessary information. Moreover, it shows that as investment methods grew in sophistication, there was an enhanced demand for greater comparability in accounting data to make meaningful analyses. Competing investment strategies, largely devoid of accounting information, are also discussed.

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