scholarly journals Tasks of state-owned enterprises and their impact on accounting and reporting information

2021 ◽  
Vol 2021 (9) ◽  
pp. 99-116
Author(s):  
Ljudmyla LOVINSKA ◽  
◽  
Andrii MAMYSHEV ◽  
Keyword(s):  
Public Sector ◽  
Financial Reporting ◽  
The State ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Market Conditions ◽  
Theoretical Understanding ◽  
Important Place ◽  
Financial Reporting Standards

The purpose of the article is to establish ways to implement the tasks of public sector entities in ensuring responsibility and accountability of state-owned enterprises, taking into account market conditions and the transition to international financial reporting standards (IFRS) in the context of determining the place and role of accounting information. The research methodology is based on the application of dialectical and systematic approaches to scientific knowledge and general theoretical understanding of the problems of functional and accounting-analytical support for the management of state-owned enterprises in the application of IFRS. The results of the analysis of modern tendencies of the organization and functioning of the state-owned enterprises are covered. The importance of public sector entities in the global dimension, as well as the features of the organization, challenges and tasks of state-owned enterprises in market conditions are shown. It is determined that the main tasks to be performed by state-owned enterprises are : provision of certain state services and specific goods, support of the national economy and strategic interests, doing business in a natural monopoly, as well as support of social goals of the state. The specificity of the tasks of state-owned enterprises and their important place in the state economy through the role of a special agent of the government for the implementation of state policy in a particular area is substantiated. A new look at these processes involves increasing the transparency and accountability of businesses, which is closely linked to improving the quality of accounting data on the activities of state-owned enterprises. Based on the results of the study, the algorithm of decisions on determining, assessing and reviewing the value of a state-owned enterprise based on the expression of its social, economic, environmental and tax impacts has been improved. There is a problem of harmonization of methodological support for the preparation of aggregate reports of the general government sector (GGS), which arises due to the existing differences between different sets of standards for financial reporting of GGS sector entities (International Financial Reporting Standards (IFRS) - for public corporations and National provisions (standards) of accounting in the public sector (NP(S)APS) - for all other entities of the GGS sector).

Composition and characteristics of the financial statements elements in accordance with IFRS

2020 ◽  
pp. 36-42
Author(s):  
Mohammad Tariq Jassim
Keyword(s):  
Financial Reporting ◽  
Financial Statements ◽  
International Financial Reporting Standards ◽  
International Accounting ◽  
Reporting Standards ◽  
Financial Reporting Standards ◽  
Current Trends ◽  
Similarities And Differences ◽  
Qualitative Characteristics

In a market economy, the role of International Financial Reporting Standards is increasing. In order to understand their significance in modern conditions it seems necessary to consider the peculiarities of evolution of IFRS formation. The article reflects actual issues concerning the role and significance of International Accounting and Reporting Standards in modern conditions. The author has defined the necessity of applying International Accounting and Reporting Standards by Russian companies. The article highlights the main elements and users of financial statements prepared on the basis of IFRS, and analyzes the similarities and differences that exist in the formation of financial statements, based on the requirements of IFRS and RAS. The main qualitative characteristics of financial statements are considered in detail. Based on the results of the research, the author has identified current trends in the transition to international financial reporting standards.

scholarly journals Reporting companies’ performance – in respect of the international financial reporting standards (IFRS)

2013 ◽  
Vol 7 (4-5) ◽  
pp. 107-112 ◽  
Author(s):  
Ildikó Dékán Tamásné Orbán
Keyword(s):  
Financial Reporting ◽  
Evaluation Method ◽  
Great Influence ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Financial Health ◽  
Financial Reporting Standards ◽  
Globalizing World ◽  
Rule System

The role of information became more important due to rapidly changing technical conditions, market and economic regulations in our globalizing world. Several regulations tend to provide the framework for reporting performance and income of the companies, but in different statements performance is inconsistently presented and many kind of evaluation method exist in the practice. These facts led to the demand of properly assess the financial health of an organization, and created a commonly accepted rule-system, which name was International Financial Reporting Standards (IFRS). In this paper I tend to present the statements, definitions and factors, which can have great influence in representing the performance, income of the company in the frame of the IFRS, and reveal the differences between the other accounting regulations (EU directives, Hungarian Accounting Act) in this field.

scholarly journals DEVELOPMENT OF INTERNATIONAL FINANCIAL FISCAL STANDARDS IN ACCORDANCE WITH THE ROLE OF IASB

2019 ◽  
Vol 3 (2) ◽  
Author(s):  
‏​‏​‏​​‏​‏​​‏​‏​‏​‏​‏​‏ Ali Murtadha Shaheen
Keyword(s):  
Financial Reporting ◽  
Accounting Standards ◽  
International Financial Reporting Standards ◽  
International Accounting ◽  
International Accounting Standards ◽  
Reporting Standards ◽  
Financial Reporting Standards ◽  
Trading Volumes ◽  
International Accounting Standards Board

The objective of the research is to demonstrate the role of International Accounting Standards Board in the development of International Financial Reporting Standards to support the efficiency of international capital markets from 1973 to 2011, and then to measure the impact of the application of IFRS in accordance with the role of the International Accounting Standards Board. There have been differences in the market, volumes of the first and second markets and in the share price index, refer to market value, trading volumes yet trading volumes appropriate according to the software over International Financial Reporting Standards between the training on monetary statements of agreement stock companies.  

scholarly journals The role of Politics and Economics in the International Financial Reporting Standards (IFRS) Adoption

2019 ◽  
Vol 36 (2) ◽  
pp. 407
Author(s):  
Araceli Mora
Keyword(s):  
Financial Reporting ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Financial Reporting Standards ◽  
Ifrs Adoption ◽  
Los Grupos

La adopción de las NIIF desde 2005 ha conllevado beneficios, pero la investigación también ha demostrado que su efecto no ha sido uniforme en los distintos países debido a las diferencias institucionales y en los incentivos. La teoría contractual ofrece un marco teórico para la investigación de las consecuencias económicas y de los incentivos de los grupos de interés para ejercer presión, pero la investigación sobre la actividad de los políticos para interferir en la contabilidad es escasa. El objetivo de este estudio es mostrar el papel de los gobiernos en la contabilidad. Para ello se muestran los cambios acontecidos en el proceso de adopción de las NIIF en la UE para incrementar la interferencia política en nombre del “interés público”, destacando el caso del sector financiero. Se concluye que todas las partes involucradas deberían comprometerse a buscar el equilibrio entre normas basadas en principios y mecanismos de control para mejorar el proceso de comparabilidad con las NIIF.

scholarly journals The role of enterprise risk management on disclosure transparency in the international financial reporting standards period

Accounting ◽  
2021 ◽  
Vol 7 (6) ◽  
pp. 1241-1250 ◽  
Author(s):  
Bisan Almasri
Keyword(s):  
Risk Management ◽  
Financial Reporting ◽  
Enterprise Risk Management ◽  
International Financial Reporting Standards ◽  
Future Research ◽  
Reporting Standards ◽  
Financial Reporting Standards ◽  
Enterprise Risk ◽  
Study Results

This research empirically investigates the role of the enterprise risk management system implementation level in capturing firm managerial incentives. The system plays an important role in understanding the association between international financial reporting standards and the capital market. Listed firms in the Australian market were used for the period 2000-2010 for this purpose. The study results imply that implementing higher levels of ERM by Australian firms during the mandatory IFRS adoption period does not capture firm incentives in IFRS period. Consequently, these results suggest that the implementation of ERM by Australian firms does not reduce the contractual costs between investors and management, whilst adopting IFRS does. Future research may use other techniques and/or strategies other than ERM, to capture the firm incentives, and as a result, may have economic consequences.

scholarly journals DO LITHUANIAN HIGHER EDUCATION ACCOUNTING PROGRAMS REFLECT ACCOUNTING HARMONIZATION IN THE EU?

2014 ◽  
Vol 2 ◽  
pp. 113-118
Author(s):  
Dalia Kaupelyte ◽  
Renata Legenzova
Keyword(s):  
Higher Education ◽  
Labor Market ◽  
Public Sector ◽  
Financial Reporting ◽  
Accounting Standards ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Financial Reporting Standards ◽  
Public Sector Accounting ◽  
The Eu

Financial accounting is undergoing major changes in the EU and worldwide.  Great efforts are placed on adoption of high quality accounting standards for listed companies, public sector organizations as well as small and medium business entities.  Being a member of the EU Lithuania is in compliance with the EU incentives in de jure accounting harmonization; however de facto situation in Lithuania is not adequately assessed.  One of accounting harmonization related questions is whether Lithuanian higher education provides labor market with market-needs oriented accounting professionals.The objective of this article is to assess if Lithuanian higher education programs in accounting field is in compliance with EU accounting harmonization outcomes.  We analyze if graduates of Accounting programs from Lithuanian Higher Education Institutions are trained to work with different sets of accounting standards—International Financial Reporting Standards (IFRS) and Public Sector Accounting Standards that were adopted in Lithuania as a part of accounting harmonization incentives.  To conduct an assessment of research methods by case analysis, comparative analysis has been deployed.  We assessed programs goals, learning outcomes and course curriculum of Professional Bachelor, Bachelor and Master level programs in Lithuanian universities and colleges.Results of the research revealed that de jure accounting harmonization is reflected in Lithuanian higher education Accounting programs.  Accounting for listed companies (required to use International Financial Reporting Standards) is given little importance in Lithuanian Accounting programs. According to the analysis of the learning outcomes, graduates of the Accounting programs in Lithuania have a broad profile, but would not be able to work independently with International Financial Reporting Standards.  On the other hand, even if regulation of public sector accounting was enforced later, it is included in number of analyzed programs.  A number of Professional Bachelor’s programs even offer specialization in this area.  Results of the research allow us to conclude that colleges have their niche in preparing accounting specialist for local labor market and their positioning is relatively strong, concerning public sector accounting.  Meanwhile first and second level universities’ programs could be strengthened toward international accounting to provide labor market with professionals in this area. 

scholarly journals The role of context in the interpretation of verbal probability expressions used in International Financial Reporting Standards

2019 ◽  
Vol 2019 (101 (157)) ◽  
pp. 95-110
Author(s):  
Sylwia Silska-Gembka ◽  
Jerzy Gierusz ◽  
Katarzyna Koleśnik
Keyword(s):  
Financial Reporting ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Financial Reporting Standards ◽  
Accounting Professionals ◽  
Verbal Probability

The objective of this study is to specify whether the interpretation of verbal probability expressions (VPEs) by accounting professionals depends on the context in which they have been used in IFRS. For the purpose of this study, a questionnaire was distributed, and a sample of accountants and auditors was asked to interpret the “probable” expression used in IFRS establishing the threshold for recognising various accounting elements. The results provide further support for the hypothesis that the context the VPEs are used in affects their interpretation. The results indicate the problem of inconsistency in the interpretation of these expressions by accounting professionals. Thus, this study should provide some tentative implications for standard setters to consider in using VPEs in IFRS.

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