PROBLEMS OF FORMATION AND DISCLOSURE OF INFORMATION ON SEGMENTS IN THE FINANCIAL STATEMENTS OF ORGANIZATIONS (IFRS 8

The article is devoted to the analysis of the Federal Accounting Standard of Public Finance “Payments to Personnel”, which will be applied in the conduct of accounting and reporting from January 1, 2021, including medical state and municipal institutions. The article considers the main provisions of this standard — peculiarities of recognition and evaluation of objects of personnel benefits accounting, termination of their recognition, as well as disclosure of information on objects of personnel benefits accounting in accounting financial statements. This standard is compared with the International Public Sector Financial Reporting Standard 39 “Employee Benefits”

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External Segment Reporting in the Republic of Serbia

Economic Themes ◽

10.1515/ethemes-2016-0008 ◽

2016 ◽

Vol 54 (1) ◽

pp. 155-176 ◽

Cited By ~ 2

Author(s):

Vladimir Obradović ◽

Nemanja Karapavlović

Keyword(s):

Financial Institutions ◽

Financial Reporting ◽

Financial Statements ◽

Potential Usefulness ◽

Statistical Techniques ◽

High Quality ◽

Segment Reporting ◽

Ifrs 8 ◽

The Republic ◽

Segment Information

AbstractThe purpose of the research in this paper is to examine the regulation and practices of external segment reporting in the Republic of Serbia. The importance of research stems from a great potential usefulness of segment information for investors and creditors. The analysis of regulation suggests that the Republic of Serbia has high-quality and internationally recognized basis of external segment reporting – IFRS 8. However, there is a room for improvement of IFRS 8. The analysis of practices, conducted on a sample of 500 companies, shows that companies in the Republic of Serbia, in general, do not attach great importance to the disclosure of segment information in financial statements. The practices are quite miscellaneous, which is a consequence of the flexibility of IFRS 8, but also an incomplete compliance with IFRS 8. By applying statistical techniques we have examined whether the practices of external segment reporting are related to characteristics of companies, which makes the originality of the paper. We have found that financial institutions disclose more extensive quantitative segment information in relation to other companies in the Republic of Serbia, and that companies with higher assets disclose more extensive segment information. The research indicates that there is a significant room for improving the practices of external segment reporting in the Republic of Serbia. The research results may be useful for regulators of financial reporting and preparers and auditors of financial statements.

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УЧЕТНАЯ СОСТАВЛЯЮЩАЯ ФИНАНСОВЫХ РЕЗУЛЬТАТОВ ПРЕДПРИЯТИЙ ОБЩЕСТВЕННОГО ПИТАНИЯ

Вестник Казахского университета экономики, финансов и международной торговли ◽

10.52260/2304-7216.2020.4(41).26 ◽

2020 ◽

Author(s):

A. Kazhmukhametova ◽

G. Tussibayeva ◽

B. Akimova ◽

А.А. Кажмухаметова ◽

Г.С. Тусибаева ◽

...

Keyword(s):

Economic Activity ◽

Financial Statements ◽

The Other ◽

Disclosure Of Information ◽

New Type ◽

Public Catering ◽

The One ◽

The Cost

Properly organized operational and accounting records are essential for controlling the formation of financial results. The article reveals a feature of the economic activity of public catering enterprises, which determines the features of accounting. On the one hand, it is intended to reflect the processes of production (cooking), and on the other - the processes of trade (sales). The costs associated with the sale of products and promotion of products on the market, both industrial and commercial enterprises are defined as the cost of circulation. The paper focuses on the classification and accounting of income and expenses in the field of nutrition. Attention is paid to a relatively new type of service as catering, which has been gaining momentum in recent years. The issue of synthetic and analytical accounting of financial results and disclosure of information in financial statements is discussed. Based on the results of the study, the authors recommended reasonable measures to increase profitability and improve accounting for financial results. Важное значение в контроле за формированием финансовых результатов имеет правильно организованный на предприятии их оперативный и бухгалтерский учет. В статье раскрыта особенность хозяйственной деятельности предприятий общественного питания, которая определяет особенности ведения бухгалтерского учета. С одной стороны, он призван отражать процессы производства (приготовление пищи), а с другой - процессы торговли (реализации). Расходы, связанные с реализацией продукции и продвижением на рынке произведенной продукции, и у промышленных, и у торговых предприятий определяют как издержки обращения. В работе акцентировано внимание на классификации, учете доходов и расходов в сфере питания. Уделено внимание сравнительно новому вид услуг как кейтеринг, который в последние годы набирает обороты. Обсужден вопрос синтетического и аналитического учета финансовых результатов, раскрытия информации в финансовй отчетности. По результатам исследования авторами рекомендованы обоснованные мероприятия по повышению доходност и совершенствованию учета финансовых результатов.

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PENERAPAN PRINSIP PENGUNGKAPAN LENGKAP AKUN PIUTANG PERPAJAKAN PADA LAPORAN KEUANGAN PEMERINTAH PUSAT TA 2017-2019

Jurnal Wahana Akuntansi ◽

10.21009/wahana.15.022 ◽

2020 ◽

Vol 15 (2) ◽

pp. 125-152

Author(s):

Imran Djunur

Keyword(s):

Decision Making ◽

Central Government ◽

Complete Information ◽

Financial Statements ◽

Full Disclosure ◽

Accounts Receivable ◽

Financial Condition ◽

Adequate Information ◽

Disclosure Of Information ◽

And Performance

In order to be widely used by users of financial statements, information related to tax receivable accounts in LKPP must meet the Full Disclosure Principle relate to assets, liabilities and equity either through faces or Notes to Financial Statements. Complete information will prevent users from misleading and improper decision making or opinions on the financial condition and performance of the central government. This study focuses on the disclosure of information on tax accounts receivable at LKPP because the account has significant value and gets the attention of LKPP users. Through this research, the writer will assess whether the information related to tax receivables in LKPP FY 2017 to 2019 meets the Full Disclosure Principle. To fulfill the principle, LKPP must disclose 9 adequate information related to tax receivable. The results of the analysis show that the disclosure of tax receivables in LKPP FY 2017 and LKPP FY 2018 don’t fulfill all the criteria, while LKPP FY 2019 only fulfill 1 criteria. There was no significant increase in the implementation of full disclosure principle of tax receivable within 3 years.

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Assessment of the risk of interruption of the organization‘s activities and disclosure of information about it in the financial statements

Buhuchet v sel'skom hozjajstve (Accounting in Agriculture) ◽

10.33920/sel-11-2108-02 ◽

2021 ◽

pp. 18-25

Author(s):

Y. I. Sigidov ◽

A. N. Melnikova ◽

G. N. Yasmenko

Keyword(s):

Risk Assessment ◽

Accounting Standards ◽

Financial Statements ◽

Economic Entity ◽

Key Stakeholders ◽

Auditing Standards ◽

Disclosure Of Information ◽

Business Interruption

The accounting and non-accounting indicators of the risk of interruption of the activity of an economic entity are considered, derived on the basis of a study of the content of regulatory legal acts that establish the conditions for continuing activity, accounting standards and auditing standards. A system of point assessment of the risk of business interruption is proposed and the directions of presenting information about it as part of the explanations to the accounting (financial) statements are determined. The proposed method of risk assessment can be useful for improving the information capabilities of accounting (financial) statements from the positions of key stakeholders.

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Perceptions of external auditors, preparers and users of financial statements about the adoption of IFRS 8

Journal of Applied Accounting Research ◽

10.1108/jaar-09-2012-0066 ◽

2015 ◽

Vol 16 (1) ◽

pp. 2-27 ◽

Cited By ~ 4

Author(s):

Ghassan H. Mardini ◽

Louise Crawford ◽

David M. Power

Keyword(s):

Financial Statements ◽

Annual Reports ◽

International Accounting ◽

Reporting Standard ◽

Accounting Standard ◽

Content Type ◽

External Auditors ◽

Decision Usefulness ◽

Ifrs 8 ◽

The Impact

Purpose – The purpose of this paper is to explore the perceptions of external auditors, preparers and users (investors and analysts) of financial statements in Jordan about this new segmental reporting standard; a decision usefulness framework underpins the research. Design/methodology/approach – The objective of this study is to explore the perceptions of external auditors, preparers and users (investors and analysts) of financial statements in Jordan about this new segmental reporting standard; a decision usefulness framework underpins the research. Findings – The findings reveal that a majority of interviewees found that IFRS 8 was not a problematic standard, and that the management approach of IFRS 8 was an improvement on the previous standard – International Accounting Standard (IAS) 14R – because the information produced was seen as useful to users of financial statements. Moreover, the respondents indicated that there was an improvement in the quantity and quality of segmental information under IFRS 8 in annual reports for 2009; it was more understandable, relevant, reliable and comparable than the segmental information which had previously been reported. Research limitations/implications – No attempt was made to assess the usefulness of segmental information reported under IFRS 8 by Jordanian listed companies in their annual reports for other groups such as lenders, suppliers, customers, trade creditors and the general public (IASC, 1989). Thus, a survey about the impact of IFRS 8 on other groups may yield further insights about the decision usefulness of the new standard’s disclosures. However, Jordanians are not familiar with such research instruments and the culture within the society is relatively secretive (Piro, 1998). Practical implications – The findings of the current research should be valuable for international accounting standard setters at the International Accounting Standards Board. It provides some indication about the impact of this new standard. Originality/value – This research shows that segmental information reported under IFRS 8 is more useful for decision makers needs compared to segmental information that previously reported under IAS 14R. It also provides a great insight about the impact of this new segmental disclosure standard.

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The business model in the light of the Conceptual framework for financial reporting of 2018

Zeszyty Teoretyczne Rachunkowości ◽

10.5604/01.3001.0014.8349 ◽

2021 ◽

Vol 45 (1) ◽

pp. 31-52

Author(s):

Mariusz Karwowski

Keyword(s):

Conceptual Framework ◽

Business Model ◽

Financial Reporting ◽

Financial Statements ◽

Value Judgments ◽

Financial Report ◽

Current State ◽

Disclosure Of Information

Purpose: The purpose of the article is to indicate the possible impact of the business mod-el on financial statements in the light of the Conceptual Framework for Financial Report-ing (CF) of 2018. Methodology/approach: The current state is presented (the basis were CF of 2018), and value judgments are formulated regarding the considerations contained in the article. Findings: The business model has a limited influence on the scope of information included in financial statements. Measurement (and the associated choice of accounting policies) and the presentation and disclosure of information are areas of financial reporting in which the business model may apply. Originality/value: The attempt to indicate that the business model – although not directly – has an impact on some of the principles set out in the thoroughly rebuilt and hitherto un-explored CF.

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FORMING AND DISCLOSURE OF INFORMATION ON RISKS RELATED TO FOREIGN BUSINESS

GÃªnero & Direito ◽

10.22478/ufpb.2179-7137.2019v8n4.48390 ◽

2019 ◽

Vol 8 (4) ◽

Author(s):

Anastasiya O. Matveeva ◽

Lidiya I. Kulikova

Keyword(s):

Financial Statements ◽

Relevant Information ◽

Practical Implementation ◽

Financial Position ◽

Economic Decisions ◽

Similar Information ◽

Disclosure Of Information

Currently it is difficult to overestimate importance of work of the enterprises of fuel and energy branch, in particular the oil-extracting companies, the majority of which foreign divisions have. Conducting foreign activity involves numerous external risks, many of which are capable to influence a financial position and financial results of the company negatively. Practice shows that most the enterprises very formally belong to disclosure of information on the risks interfaced to foreign activity. The PEST analysis which is carried out by us allowed revealing risks to which the PJSC Tatneft Company having representation in Libya is subject. In this article practical implementation of requirements of IFRS regarding disclosure in the reporting of information on risks by the PJSC Tatneft Company having division abroad is also considered. On the basis of the analyzed disclosure merits and demerits in the reporting of information on the risks interfaced to conducting foreign activity the uniform technique of disclosure of similar information was developed. In our opinion, the recommended format of disclosure of relevant information will simplify work of the accountant by drawing up financial statements, and to users of such reporting will allow to estimate consequences of foreign activity, to create idea of a financial position of the organization and will provide adoption of rational economic decisions

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