scholarly journals Accounting for Capital Turnover

2021 ◽  
pp. 29-35
Author(s):  
Leonid Suk ◽  
◽  
Petro Suk ◽  
◽  
◽  
...  
Keyword(s):  
Balance Sheet ◽  
Economic Globalization ◽  
Accounting System ◽  
Business Organization ◽  
Business Transactions ◽  
Financial Position ◽  
Economic Entity ◽  
Management Processes ◽  
Real Essence

Economic globalization, digitalization of management processes, introduction of new forms of business organization, implementation of the concept of sustainable development are factors that affect the process of capital turnover and determine the need to improve its accounting support. The purpose of the article is to search for options for improving the accounting for capital turnover at the enterprise in modern conditions of a dynamic market environment. The economic essence of capital was disclosed and the capital turnover was identified as an object of accounting. The capital turnover in the enterprise is carried out constantly and is expressed through the turnover of funds that must be reflected in the accounting system. The analysis of the presentation (classification) of assets in the reporting was carried out, and it was found that all assets of an economic entity are in economic circulation, although the order and circulation period of various assets is not the same. Therefore, the division of assets into non-circulating and circulating assets is incorrect, since it contradicts the real essence of economic phenomena. It was proposed to change the approach to the presentation of assets in the reporting and rename the sections “Non-circulating assets” and “Circulating assets” in the Balance Sheet (Statement of financial position) of Ukrainian enterprises to “Non-current assets” and “Current assets”, respectively. It was proposed to place the balance sheet asset items in descending order of liquidity of assets. In particular, the first item will be “Money and their equivalents”, and then other items depending on the liquidity of assets. Accounting for business transactions must be kept according to the stages of capital turnover. In order to accounting for the sale of goods, works and services, it is advisable to use one synthetic account, on the debit of which it shows the sold products at their cost price, and on the credit – at the selling prices.

Models for the balance sheet, the trading account and the profit and loss account; 8. A section on cost accounting, including a description of the system adopted, terminology, rules for computing product costs, an explanation of the perpetual inventory method and the procedure for the classification of expenses into fixed and variable categories; 9. Statistical accounts necessary to analyze the company's situation and establish a national accounting system (see point 4 in the previous section). General Features of the 1947 Plan The plan offered a simple, logical and flexible structure, while introducing the most advanced cost accounting techniques of the time (the homogeneous sections method described earlier). Termi­ nology and presentation were largely borrowed from the account­ ing tradition. The chart of accounts (see Appendix) classes were chosen in accordance with the two traditional objectives of finan­ cial accounting: the determination of the firm’s situation and the analysis of the year's results. The plan used the decimal system to number accounts and classes of accounts. The main classes of the plan were as follows: Balance 1. Permanent capital (capital, reserves, liabili-sheet ties); accounts 2. Fixed assets and investments; 3. Stocks; 4. Third-party accounts (receivables and payables); 5. Financial accounts (short-teim loans and borrowing, short-term investments, cash); Operating 6. Expenses, classified by type; accounts 7. Revenues, classified by type; 8. Profit and Loss accounts; 9. Cost accounting accounts; 10. Statistical accounts. This structure made it easy to prepare the balance sheet which was established from the accounts of the first five classes. Unlike the 1942 Plan, the order of appearance of the accounts on the balance sheet was the same as in the chart of accounts. Ac­ counts were first classified according to the duration of use or realizability for assets (short or long-term) and according to the

2014 ◽  
pp. 346-346
Keyword(s):  
Balance Sheet ◽  
Cost Accounting ◽  
Third Party ◽  
Accounting System ◽  
Fixed Assets ◽  
Perpetual Inventory Method ◽  
Product Costs

scholarly journals MANAGEMENT ACCOUNTING FOR A TAX AS A MEANS OF TAX OPTIMIZATION

2020 ◽  
Author(s):  
Tatyana Anatolievna Korneeva ◽  
◽  
Daria Sergeevna Kosheleva ◽  
Keyword(s):  
Management Accounting ◽  
Tax Burden ◽  
Accounting System ◽  
Tax Expenditures ◽  
Economic Entity ◽  
Tax Management ◽  
Management Accounting System

The article is devoted to the study of approaches to the organization of tax management accounting in order to optimize the level of tax burden of an economic entity to improve the efficiency of an enterprise in terms of its taxation. The classification of tax expenditures is proposed for budgeting purposes in the management accounting system

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

scholarly journals Hermeneutica Hybrid Contract in Syaria Accounting Perspective

2020 ◽  
Author(s):  
Puji Handayati ◽  
Aji Prasetyo
Keyword(s):  
Qualitative Method ◽  
Financial Institution ◽  
Hermeneutic Phenomenology ◽  
Balance Sheet ◽  
Financial Statements ◽  
Islamic Banking ◽  
Accounting System ◽  
Financial Position ◽  
System A ◽  
Muslim Communities

The purpose of this study is to find out how the concept of hybrid contract is perceived amongst Muslim communities in Islamic banking. The hybrid contract concept was an innovative Islamic banking product designed to fulfill the needs of banking transactions in sharia banks. A transaction in a financial institution must not be separated from a set of financial statements in the accounting system. A Sharia-operated bank must apply the concept of sharia accounting, including accounting records of hybrid contract transactions. Using the qualitative method of hermeneutic phenomenology, this study concludes that in practice, the accounting records at the beginning of the transactions of “murabahah bil wakalah” (Syariah transaction)  reflect directly on the ownership of the assets of murabaha  by the bank. Whereas, before the asset belongs to the bank (which is represented by the customer), there is a previous contract that is “wakalah”. The occurrence of this wakalah contract is not included in accounting records. Therefore, if one only looks at the accounting records of a bank, it is impossible to gain a clear overview of a transaction with the agreement “murabahah bil wakalah”. Whereas, in accounting calculation using the “musyarakah mutanaqisah” contract, accounting treatment that acknowledged the financing of musyarakah, then in its presentation, there is certainly a Financial Position Report (balance sheet) showing the financing musyarakah as a whole. Keywords: Hybrid Contract, Sharia Accounting, Accounting Recording

ANALISA PERBANDINGAN LAPORAN KEUANGAN DAN RASIO KEUANGAN SEBAGAI ALAT UKUR KINERJA KEUANGAN PADA KOPERASI KARYAWAN SUCOFINDO (KOPERASI SUCOFINDO JAYA) TAHUN 2009 – 2011

2019 ◽  
Vol 9 (2) ◽  
pp. 35
Author(s):  
Sri Marti Pramudena
Keyword(s):  
Financial Performance ◽  
Balance Sheet ◽  
Fiscal Year ◽  
Percentage Increase ◽  
Net Worth ◽  
Average Value ◽  
Financial Position ◽  
Profitability Analysis ◽  
Equity Ratio ◽  
The Cost

This study aims to determine the financial position and financial performance Cooperative Sucofindo Jaya (KOPSUCOFINDO JAYA) from fiscal year 2009-2011 through a comparative analysis / comparisons and ratio analysis. From the research, the authors obtained a picture that results of the financial position and financial performance of KOPSUCOFINDO JAYA as follows: (1) To Horizontal Analysis of the Balance Sheet shows the overall unfavorable developments as the rise of short-term debt experienced a greater percentage increase than the increase in current assets (2) For Horizontal Analysis of the SHU, SHU in 2010 an increase of 125.38% compared to 2009 and in 2011 increased by 282.47% compared to 2009, but this increase was not followed by a reduction in the burden of cost of goods, especially business and this increase was obtained from the contribution percentage increase in other income. (3) For Vertical Analysis of the Balance Sheet shows that in terms of assets, current assets are assets that make up the largest component but also cause considerable investment value embedded in current assets and also showed asset turnover, receivables turnover and working capital is very low under 1 times. (4) For the SHU Vertical analysis shows that income JAYA KOPSUCOFINDO more than 85% absorbed in the Cost of Goods. (5) For liquidity analysis showed that highly liquid KOPSUCOFINDO JAYA obtain an average value above 400%. (6) For solvency analysis shows that the performance is not good / not solvable because the results of the analysis LITA average of above 95%, Total Debt to Equity Ratio in the top 2.000%, and Net Worth Debt Ratio to average below 4%. (7) For activity ratios indicate that the performance is not good for Turnover of Assets value of 1 times. (8) For the rentability analysis KOPSUCOFINDO JAYA show results for ROA of 0.86% (2009), 1.31% (2010), 1.18% (2011), ROE in 2009 is 14.81%, 26.43% in 2010 and 2011 amounted to 31.11%, for the ROI of 0.56% in 2009, in 2010 was 0.96% and by 0.93% in 2011. (9) For the analysis of profitability, for the analysis of GPM in 2009 amounted to 1.49%, in 2010 of 2.31% and 3.92% in 2011. As for the analysis of NPM in 2009 amounted to 0.97%, in 2010 by 1.70% and by 3.10% in 2011. Keywords:  Cooperative Financial Performance, horizontal analysis, vertical analysis, Analysis of Liquidity, Solvency Analysis, Activity Analysis, Profitability Analysis, profitability analysis

Managing an Enterprise and Ethical Dilemmas in Accountancy

2014 ◽  
Vol 9 (2) ◽  
pp. 141-151
Author(s):  
Jolanta Wiśniewska
Keyword(s):  
High Risk ◽  
Ethical Dilemmas ◽  
Business Management ◽  
Relevant Information ◽  
Necessary Condition ◽  
Accounting System ◽  
Quality Of Information ◽  
Economic Entity ◽  
A Company

The purpose of this article is to present the correlation between management of an economic entity and the development of ethical accounting dilemmas in the era of high-risk business. In the globalisation era and recurring economic crises, realisation of the objectives of a company takes place under high risk conditions. It is therefore necessary to use a proper management system. The necessary condition for making all decisions is to have relevant information. The value and relevance of these decisions depend on the quality of information which they have been based on. Lack of ethics in accounting has a direct impact on the company's management, which is based on information generated by the accounting system of the company. Ethical dilemmas arising in accounting are also ethical dilemmas arising in the process of business management. 

HISTORICAL EVOLUTION OF THE BALANCE SHEET IN THE PEOPLE'S REPUBLIC OF CHINA

2014 ◽  
Vol 41 (1) ◽  
pp. 1-34 ◽  
Author(s):  
Shizhong Yang ◽  
Ruining Yang ◽  
Z. Jun Lin
Keyword(s):  
Balance Sheet ◽  
People’S Republic Of China ◽  
The Political ◽  
Historical Evolution ◽  
People's Republic Of China ◽  
Economic Changes ◽  
Republic Of China ◽  
Financial Position ◽  
Rapid Changes ◽  
Accounting Convergence

This paper exhibits the historical evolution of the balance sheet in the People's Republic of China. In particular, we examine three major changes in the balance sheet (which reports the financial position of an economic or business entity) since the founding of the new China in 1949 and the political, social and economic changes during this period. The content, structure and presentation of the balance sheet (or alternative forms of the statement in use) are illustrated. The political and economic factors driving its evolution are analyzed to assist readers in understanding the rapid changes in Chinese accounting over the last six decades. The implications of the Chinese experience for international accounting convergence are also briefly outlined.

RELATIONSHIP OF ACCOUNTING AND STATISTICAL ACCOUNTING OF LOGISTIC COSTS IN THE INTEGRATED BUSINESS STRUCTURE

2021 ◽  
Vol 16 (3) ◽  
pp. 106-111
Author(s):  
Olga Gizatullina
Keyword(s):  
Supply Chains ◽  
Business Processes ◽  
Management Accounting ◽  
Added Value ◽  
Economic Activities ◽  
Legal Form ◽  
Economic Entity ◽  
Accounting Management ◽  
Supply Costs

For economic entities, business partnerships are not based on individual competition or improving individual business processes, but on improving supply chains. When making management decisions, the question arises about the performance indicators of business processes both at the level of an economic entity and at the macro level. When assessing the effectiveness of supply chains, it is necessary to assess the costs arising in the course of financial and economic activities. The logistics component has a large share in the supply costs. A full accounting of logistics costs allows you to obtain reliable information for the analysis and development of measures to reduce them, which increases the efficiency of the entire economic activity of an economic entity. The article proposes a classification of logistics costs according to the degree of added value creation and dependence on the volume of production, including the allocation of transaction costs, which make up a significant share in the overall structure of logistics costs. The classification of logistics costs should be transformed depending on the organizational and legal form of the organization and the field of activity. The system of accounting for the logistics costs of economic entities should highlight them when implementing all logistics functions; study information about the most significant logistics costs and the nature of their occurrence; study the interdependencies of logistics costs throughout the entire supply chain. The developed system allows keeping separate accounting of logistics costs on a separate account, which makes it possible to control them. In modern conditions, organizations are faced with the need to integrate various types of accounting, including accounting, management and statistical. The algorithm for the implementation of this task includes four stages: development of a methodology for the integration of accounting, management and statistical accounting; formation of management accounting policies; development of data transformation regulations; selection of software for the automation of statistical, accounting and management accounting

DESIGNING ENVIRONMENTAL MEASURES TO REDUCE FERRIC OXIDE AT A MACHINE-BUILDING ENTERPRISE

2021 ◽  
Vol 3 (1) ◽  
pp. 094-098
Author(s):  
E. A. BORODKINA ◽  
◽  
E. E. KUXGAUZEN ◽  
S. V. BELKOVA ◽  
◽  
...  
Keyword(s):  
Negative Impact ◽  
Machine Building ◽  
Bag Filter ◽  
Aggregate State ◽  
Atmospheric Air ◽  
Conservation Measure ◽  
Economic Entity ◽  
Harmful Emissions ◽  
Environmental Measures

In this paper, we consider air pollution in the result of the activity of an economic entity. The classification of harmful emissions by aggregate state is given. The sources of negative impact on the atmospheric air, including the volume and mass of the resulting pollutants, are considered. It is proposed to develop a conservation measure by using a bag filter with pulse blowing.

Management of virtual organizations based on multi-agent systems

2021 ◽  
pp. 95-99
Author(s):  
A.V. Babikova ◽  
◽  
V. S. Samoylenko ◽  
A. Yu. Fedotova ◽  
A.V. Khanina ◽  
...  
Keyword(s):  
Information Technologies ◽  
Virtual Organizations ◽  
Management Systems ◽  
Multi Agent System ◽  
Business Organization ◽  
Multi Agent Systems ◽  
Management Processes ◽  
Self Development ◽  
Multi Agent ◽  
Virtual Structures

The emergence of new forms of business organization due to the development of the latest information technologies leads to the need to find adequate ways to manage virtual structures. This article discusses the features of multi-agent artificial intelligence systems and the possibilities of their application in virtual organizations. The concept of a multi-agent system is proposed, which will improve the management processes of a virtual organization. The developed algorithm is adaptive and can be used in various virtual organizations for self-development of their management systems and achieving their goals.

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