scholarly journals FORMATION OF THE ACCOUNTING POLICY OF THE ENTERPRISE IN THE CONTEXT OF ENSURING EFFECTIVE INVENTORIES MANAGEMENT IN THE PROCESS OF INNOVATIVE ACTIVITY

2020 ◽  
Vol 1 (3) ◽  
pp. 77-83
Author(s):  
Olha Roieva
Keyword(s):  
Inventory Management ◽  
Financial Statements ◽  
Document Management ◽  
Information Support ◽  
Innovation Activity ◽  
Accounting System ◽  
Industrial Enterprises ◽  
Innovation Potential ◽  
The Impact ◽  
Accounting Policy

The article considers the issues of organization and formation of inventory accounting policy, substantiates its role in the system of information support of inventory management processes and highlights the impact on the effectiveness of inventory management in the process of innovation activity. Based on the study of trends in the share of inventories of industrial enterprises and indicators of innovation development, it is established that inventories are not currently considered as a resource that has a significant impact on the innovation potential of the enterprise, and in combination with financial performance indicates inefficient investment in inventories and inefficient inventory management. It is proved that it is possible to increase the efficiency of inventory management due to the optimal organization of the inventory accounting system, the foundations of which are laid during the formation of accounting policies. The author's approach to understanding the accounting policy in the sphere of inventory accounting, which is considered as a set of principles, methods and procedures used by the company to generate quality, timely, relevant, clear, complete and reliable information about the availability, movement, storage and use of inventories, sufficient to make management decisions aimed at improving the efficiency of inventory management and disclosure of inventory information in the financial statements. Coverage of approaches to the formation of accounting policy is based on a combination of organizational, technological and methodological components of accounting policy. The first (organizational and technological) component includes such elements as: inventory principles, laws and regulations concerning accounting of inventories, forms of primary documents and internal management reporting used for inventory accounting, document management rules and accounting information processing technology, control procedures on the movement of inventories and the responsibility of officials, the procedure and frequency of revaluation of inventories and inventory count, the order of analytical inventory, the unit of natural measurement of inventories for each unit of accounting, the interaction of accounting with other services during the transfer and exchange of inventory. The second component (methodological) reveals the principles and rules of receipt, processing, recording and transmission of inventory information, inventory valuation rules, inventory accounting (development of a working plan of accounts), disclosure of inventory information in the financial statements. It has been considered such main elements of organizational, technological and methodological components: features of the work plan of inventory accounts, the issue of documentation of inventory transactions, the recognition of inventories and their evaluation, document management rules, accounting for transport and procurement costs. Variable elements of inventory accounting policy are identified.

scholarly journals Accounting policy and its role in the formation of information support of innovation activity management

2021 ◽  
pp. 166-173
Author(s):  
Oksana Palchuk ◽  
Oleksandr Gai
Keyword(s):  
Financial Reporting ◽  
Information Resources ◽  
Innovative Activity ◽  
Information Support ◽  
Innovation Activity ◽  
Structural Method ◽  
Accounting System ◽  
Support For Innovation ◽  
Activity Management ◽  
Accounting Policy

Purpose. Research of features of innovative activity and its accounting reflection; determining their impact on the formation of accounting policies in order to build an effective accounting and information system of innovative activity management of the enterprise. Methodology of research. Realization of the purpose was carried out by means of the epistemological method which gave the chance to specify the essence of accounting policy on various directions of the innovation process; system-structural method, which allowed to classify the objects of innovation activity and its accounting. General scientific methods (induction, deduction, analysis, synthesis, abstraction, generalization) were used to develop the concept of accounting and information support for innovation activity management. Findings. It is established that the special complexity and diversity of innovation is the reason for the existence of diversity and determines the relevance of accounting policies in the formation of information support for innovation activity management. The main stages of the procedure of formation of accounting and information support of innovation activity management are proposed and the role of accounting policy, in this case, is clarified. Based on the analysis of the peculiarities of innovation, the requirements for the accounting system are formed, which should be taken into account when forming the accounting policy in order to form the information resource of innovation activity. Originality. The place of accounting policy in the process of formation of information resources of innovation activity is substantiated. The content, stages, and features of the formation of accounting policy taking into account the specifics of innovation activity are described. A distinctive feature of the proposed approach is the construction of accounting and information support for innovation activity management, taking into account the classification of objects of innovation in three areas: financing of innovation; creation (acquisition) of an innovative product; commercialization of innovation activity results. This approach will help streamline accounting methods and improve reporting transparency. Practical value. Determining the features of accounting support and accounting policy of innovation allows forming models of accounting reflection of innovation processes in accounting accounts, to determine algorithms for forming financial reporting indicators, and methods of internal accounting for their use in innovation management, taking into account industry specifics, business specifics and innovation activities of specific enterprises. Key words: innovation activity, objects of innovation activity, information support, information resources, objects of accounting of innovation activity, accounting policy.

scholarly journals DIRECTIONS OF ACCOUNTING AND ANALYTICAL PROVISION FOR THE INVESTMENT IN INNOVATIONS OF FOOD INDUSTRY ENTERPRISES

2019 ◽  
Vol 3 (43) ◽  
pp. 36-54
Author(s):  
Nina Dorosh ◽  
Alina Snetkova
Keyword(s):  
Economic Development ◽  
Financial Reporting ◽  
Food Industry ◽  
Large Scale ◽  
Accounting Standards ◽  
State Level ◽  
Innovation Activity ◽  
Processing Industry ◽  
Industrial Enterprises ◽  
Innovation Potential

Nowadays, innovation activity is becoming the most important factor of economic development. The scale and effectiveness of innovation are the major contributing items, which determine the level of socio-economic development of the country and its national security. The large-scale and multi-vector changes of recent decades have transformed a significant part of the world's socio-economic processes. The speed of change has significantly accelerated, and competitiveness is increasingly determined by innovations. There is a need to study the innovative component of investment. Ukraine faces objectively necessary investment processes for transition to an innovative model of development. Taking into account these trends, the question about the theoretical coverage of the main approaches and the display of information on the costs of innovation of enterprises in Ukraine, adhering to national and international accounting standards, becomes of particular urgency. Thus, the author considers the accounting and analytical support issues of innovative activity of enterprises of the processing industry, in particular, the food industry of Ukraine. A thorough analysis of approaches to the interpretation of the definition of "innovation" has been conducted. Component analysis of national and international statistical indicators of Ukraine's innovation potential has been carried out. The dynamics of the introduction of innovations in industrial enterprises by types of activities and directions of innovations is presented. The features of cost accounting for innovations in processing enterprises (on the example of enterprises of the food industry) were investigated and accounting approaches were adopted for ensuring the costs of innovations and R & D taking into account the accounting standards and international financial reporting standards. Specific objects of accounting, accounts of synthetic and analytical accounting are outlined. The author has proved that the use of the proposed approaches to accounting for investment in innovations requires additional regulation both at the state level and at the enterprise level. The measures for improving the accounting of investments in innovations of the enterprises of the processing industry are proposed, and the creation of a unified method of accounting for the costs of innovations is proposed.

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 ANALISIS PENERAPAN AKUNTANSI BERBASIS AKRUAL DALAM PENYAJIAN LAPORAN KEUANGAN PADA BADAN PENGELOLA KEUANGAN DAN ASET DAERAH PROVINSI SULAWESI UTARA

2020 ◽  
Vol 15 (2) ◽  
pp. 167
Author(s):  
Anastasya A. Lasabuda ◽  
Jenny Morasa ◽  
Victorina Z. Tirayoh
Keyword(s):  
Government Regulation ◽  
Financial Statements ◽  
Financial Statement ◽  
Accounting System ◽  
Financial Reports ◽  
Government Accounting ◽  
North Sulawesi ◽  
And Performance ◽  
Regional Budgets ◽  
The Impact

All government entities using funds from national and regional budgets must prepare financial reports referring to government accounting standards which regulated in government regulation No 71 in 2010 and start begin on 2015. The regional goverment financial reports required to be properly according to applicable regulation. Financial reports regional was a responsibility and performance picture in an accounting periods. The purpose of this study was to analyze the accrual basis implementation of SAP No 71 years 2010 and to know the impact ot the financial statement presentation on BPKAD in North Sulawesi Province. Methods used is descriptive qualitative, through observation, interview, analysis and make inferences. The research results showed the application of the base accrued in BPKAD of North Sulawesi Province in the presentation of the financial statements was in accordance with SAP No 71 years 2010. The impact caused by the accounting system based accrual that this report financial more than easier, quick and integrated, and can tell about information budget expended and can be monitored directly by the management to decision maker.

scholarly journals ELEMENTS OF ACCOUNTING POLICY SELECTION AND ITS INFLUENCE ON FINANCIAL STATEMENTS INDICATORS

2019 ◽  
pp. 158-162
Author(s):  
O. Ageeva ◽  
D. Formusatii
Keyword(s):  
Financial Analysis ◽  
Financial Statements ◽  
Financial Statement ◽  
Sources Of Information ◽  
Management Decisions ◽  
Financial Analyst ◽  
Valuation Methods ◽  
Policy Selection ◽  
The Impact ◽  
Accounting Policy

In this article, the authors consider reasons for development of variety of accounting policies and examine influencing of selected accounting policy elements on valuation of financial statements indicators. Obviously financial statements indicators are definitely one of the most important sources of information for financial analysis and management decisions. Financial analyst should be aware, which valuation methods have been presented in this financial statement, and how they influence on formulated by him analytical conclusions. The approach presented in the article to the assessment of the impact of accounting policies on the financial statements’ indicators and the conclusions formulated by the authors as a result of the research allows to get answers to these issues.

scholarly journals ІНСТИТУЦІЙНІ АСПЕКТИ УПРАВЛІННЯ ПОДАТКОВИМ ПОТЕНЦІАЛОМ ПРОМИСЛОВОСТІ

2021 ◽  
pp. 58-67
Author(s):  
Віталій Анатолійович Омельяненко
Keyword(s):  
Tax Policy ◽  
New Technologies ◽  
Entrepreneurial Activity ◽  
Practical Significance ◽  
Innovation Activity ◽  
Innovative Development ◽  
Tax Base ◽  
Investment Activity ◽  
Industrial Enterprises ◽  
Innovation Potential

The priority direction of tax policy is the formation of tax potential, which includes the creation of conditions for the intensification of entrepreneurial activity, the formation of active development actors, the expansion of sources of tax revenue, the stimulation of innovation and investment activity. At the same time, in Ukraine, the lack of systemic directions of tax incentives for innovation in the legislation and practice of tax instruments significantly hinders the development of innovation potential of the economy and reduces its competitiveness. The basis for improving tax policy in the context of innovative development is the institutional component. The purpose of the study is to identify promising institutional aspects of the formation of tax potential in industry. The methodological basis of the study were analytical reviews, regulations, modern scientific and applied research in the field of innovation. The research uses methods of dialectics, methods and principles of scientific knowledge, tools of economic analysis to substantiate proposals for the formation of institutional foundations for the formation of tax potential. The main hypothesis of the study was the assumption that tax policy, which is aimed at developing innovation, largely determines the economic interest of industrial enterprises in the introduction of new technologies, as financial resources released from the tax potential of the enterprise can be directed to its innovation and investment activity. Presenting main material. The strategic task of tax potential management is to increase and strengthen the tax base by stimulating investment and innovation activity; support of enterprises in order to develop production and increase production. The tax potential is considered in the context of institutional innovation projects and smart specialization. An assessment of the prospects for the use of various tax instruments in accordance with the current situation and the need for the transition to adaptive management of tax potential of industry. The originality and practical significance is confirmed by the proposed scientific and methodological approaches to the management of tax potential in the context of innovative development. Conclusions and prospects for further research. Measures to increase the tax potential should include expanding the tax base not only through existing reserves, but also creating a new base through the development of innovation potential. The implementation of the relevant institutional strategy should be aimed not at simple maximization of tax revenues, but at the development of investment and innovation potential with the establishment of favorable conditions for the development of priority projects. Further research will focus on the analysis of the peculiarities of the use of tax tools in the framework of specific institutional and innovative projects of economic development.

scholarly journals Accounting organization and presentation of information on the current assets in the enterprise statement

2019 ◽  
pp. 4-13
Author(s):  
Tetyana Demchenko ◽  
Svitlana Mykhailovyna
Keyword(s):  
Financial Statements ◽  
Comparison Method ◽  
Financial Statement ◽  
Enterprise Management ◽  
Accounting System ◽  
Managerial Decisions ◽  
Study Results ◽  
General Scientific ◽  
Observation Method ◽  
The Impact

The purpose of the research is to study the problem aspects and methods of current assets presentation in the accounting and financial statement in order to make informed managerial decisions in the enterprise management. Methodology. In the process of writing this article various general scientific and specific research methods were used, in particular the dialectic method (in the study of economic phenomena and categories), the induction and deduction method (in the study of the current assets place in the accounting system), the historical, logical and comparison methods (at the stage of accounts specification of the current assets accounting), the systemic method (by the disclosure of the accounting organization processes of current assets), the observation method (in the process of study the state of current assets at the enterprise), the generalization and comparison method (at the stage of theoretical positions generalization and conclusions formation of this study). Results. It was established that current assets are a necessary component of the company property and require the development of an appropriate accounting system in order to provide timely information on the presence, movement and use of current assets of the enterprise. The organization of current assets accounting and presentation of information about them in the financial statements of an enterprise is complicated by the uncertainty and constant changes in the legal acts. In order to accurately present the inventory accounting of the enterprise, the accountants should timely show the economic operations on the receipt and movement of current assets in the primary accounting documents. Taking into account the direction and documentary registration of operations on the receipt and retirement of stocks, we have developed the chart of inventory behaviour at the enterprise, which clearly shows the formation of information of the accounts. The analysis of the current assets presentation in the financial statement of the enterprise has been carried out, taking into account the impact of changes since the date of the entry into force of the National P(S)A No. 1 “General requirements to financial statements”. Practical meaning. The practical use of the proposed offers will ensure the correct presentation of operations on the organization of current assets accounting and the prompt receipt of the necessary information by the company management. The results of the study are aimed at improving the quality, reliability and efficiency of current assets accounting and can be used in the work of Ukrainian enterprises. Prospects for further research. Consideration of the directions of accounting reconciliation and taxation of operations with current assets by introducing the changes in the current statutory framework. Assessment of the accounting methods for current assets, development and implementation of recommendations for their practical improvement.

scholarly journals Methods of assessing the efficiency of innovation activities of industrial enterprises

2019 ◽  
Vol 265 ◽  
pp. 07029
Author(s):  
Nikolay Voytolovskiy ◽  
Andrey Butyrin ◽  
Andrey Chizhik
Keyword(s):  
New Technologies ◽  
Economic Indicators ◽  
Innovation Activity ◽  
Innovative Product ◽  
Economic Activities ◽  
Industrial Enterprises ◽  
Innovation Activities ◽  
Innovation Projects ◽  
Implementation Of Innovations ◽  
The Impact

The purpose of this study is to improve the methods for assessing the efficiency of innovation activity of an enterprise. The paper proposes a system of economic indicators to assess the market attractiveness of innovation projects and the readiness of the enterprise to implement them. Using these indicators, it is possible to predict the potential of an innovative product on the market, as well as to determine the financial and economic opportunities of the enterprise. The presented methods for assessing the impact of innovations on the development efficiency of the enterprise’s economic activities allow determining the growth rates of the main economic indicators of the organization. The developed mechanism for a comprehensive assessment of the implementation of innovations at the enterprise allows determining the commercial effectiveness of the introduction of innovations and the impact of new technologies on the intercompany results of the enterprise, resulting in the possibility of taking into account the commercial and intercompany efficiency of investment in projects.

scholarly journals THE INFLUENCE OF A DIFFERENT ACCOUNTING SYSTEM ON INFORMATIVE VALUE OF SELECTED FINANCIAL RATIOS

2012 ◽  
Vol 18 (1) ◽  
pp. 149-163 ◽  
Author(s):  
Olga Malíková ◽  
Zdeněk Brabec
Keyword(s):  
Financial Markets ◽  
Financial Analysis ◽  
Financial Statements ◽  
Financial Ratios ◽  
Accounting System ◽  
Balance Sheets ◽  
Investment Opportunities ◽  
Optimal Efficiency ◽  
Global World ◽  
The Impact

In recent global world the importance of financial markets is growing as well as the amount of capital distributed through these markets. To enable optimal efficiency of these markets the best investment opportunities has to be chosen. An alternative how to compare and select suitable companies to invest in is represented by a financial analysis of financial statements. The results of financial ratios are mainly influenced by the presumptions according to those the financial statements have been prepared. Therefore, in this article there is analysed if and eventually how significant the input data, influence the results of financial ratios. Firstly, the description of financial ratios that are used in following analysis is made. After that, there are analysed the requirements of Czech legislation and IAS/IFRS and their influence on financial statements. Then, the influence of five selected accounting transaction on balance sheets and income statements that are prepared once according to the Czech legislation and for the second time according to the IAS/IFRS is analysed. The final part tries to examine if and how strong the impact of different accounting system on the results of the selected financial ratios is.

scholarly journals TAKING INTO ACCOUNT TERRITORIAL AND INNOVATIVE ASPECTS IN THE FORMATION OF THE INDUSTRIAL CLUSTER

2021 ◽  
Vol 2021 (3) ◽  
Author(s):  
I. Maksymenko ◽  
O. Shkulipa ◽  
O. Pavlenko ◽  
O. Dreval
Keyword(s):  
Cluster Formation ◽  
Geographical Location ◽  
Industrial Cluster ◽  
Industrial Clusters ◽  
Innovation Activity ◽  
Territorial Development ◽  
Industrial Enterprises ◽  
Industry Affiliation ◽  
The Impact ◽  
Statistical Indicators

The article analyzes the impact of territorial and innovative aspects on the formation of an industrial cluster. Improving the efficiency of territorial development is one of the biggest problems of the modern economy and management. The system of consideration of territorial and innovative aspects of industrial cluster formation is considered in the article. It is determined that an important component is the institutional changes, the use of appropriate methods and tools of state influence, aimed at the process of clustering in the study areas. Particular importance is attached to the study of the implementation of the phased process of cluster formation. The need for effective functioning of the state mechanism is revealed. Statistical indicators of Ukraine's development are presented, on the basis of which the components for assessing the development potential of the territory are analyzed. In particular, a model of dependence of the territory's potential on a number of indicators is proposed. The influence of the development of the innovation aspect on the formation of the attractiveness of the region is studied. It is proved that the assessment of the region's potential correlates with the costs of innovation in this region. The results of the study showed that the cluster approach allows to consider and describe the industries applied to a particular area and its features. Most often, clusters of enterprises are classified according to such parameters as geographical location, availability of capital, proximity of suppliers, competitiveness, access to specialized services, development of labor potential, availability of specialized educational institutions and research organizations, industry affiliation. The application of integrated assessment in this study made it possible to identify highly promising, medium-promising and low-promising areas, ie to determine the stages of formation of industrial clusters. The article also analyzed statistical indicators such as innovation activity of industrial enterprises, labor force, research and development costs. In particular, the coincidence of the dynamics of changes in these indicators was determined. This is the basis for taking into account territorial and innovative aspects in the formation of industrial clusters.

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