scholarly journals Formation of accounting and analytical information of the municipal company on accounts receivable and payable in the context of ensuring business communication

2019 ◽  
pp. 144-149
Author(s):  
Larysa Yakymova ◽  
Oleksandra Karielova
Keyword(s):  
Financial Stability ◽  
Business Communication ◽  
Financial Statements ◽  
Practical Experience ◽  
Research Process ◽  
Accounting System ◽  
Accounts Receivable ◽  
Analytical Information ◽  
Accounts Payable ◽  
Theoretical Generalization

Purpose. The aim of this article is to substantiate of methodical approaches to formation of accounting and analytical information concerning accounts receivable and payable in the context of ensuring business communication of the municipal company. Methodology of research. General scientific and special methods of cognition are used in the research process, in particular: methods of theoretical generalization and comparative analysis – for the analysis of scientific works and practical experience of improvement of communications in accounting; system approach, methods of analysis and synthesis – for substantiation of methodical approaches and suggestions for the formation of accounting and analytical information; methods of econometric modeling – for the construction of a model of net profit of municipal companies. Findings. The relationship between the problems of accounting for accounts receivable and payable and the principles of business communications are established. Changes in the financial statements of municipal companies, which are consistent with the principles of effective communication and improve the information of internal and external users on accounts receivable and payable and their impact on the financial stability of the company, are proposed. Originality. Methodical approaches to restructuring of notes to financial statements in terms of accounts receivable and payable are substantiated, which, in contrast to the existing ones, provides improved communication in financial statements of municipal companies. Practical value. Theoretical and methodical provisions of the research are brought to the level of specific proposals for the formation of accounting and analytical information on accounts receivable and payable of the municipal company. Key words: financial statements; accounts receivable; accounts payable; communications; municipal company; model.

scholarly journals IMPLEMENTASI HEDGING SYARIAH DALAM MINIMALISASI RISIKO ATAS FLUKTUASI KURS VALUTA ASING (STUDI PADA PT ASTRA AGRO LESTARI, TBK)

2017 ◽  
Vol 11 (1) ◽  
pp. 57
Author(s):  
Istutik Istutik ◽  
Tita Irbah Rofifah
Keyword(s):  
Exchange Rates ◽  
Foreign Exchange ◽  
Quantitative Research ◽  
Annual Report ◽  
Secondary Data ◽  
Financial Statements ◽  
Positive Influence ◽  
Foreign Exchange Rates ◽  
Accounts Receivable ◽  
Accounts Payable

The study aims to determine the risk of losses from foreign exchange rates faced by PT Astra Agro Lestari Tbk., Implementing sharia forward hedging contract so that the risk of loss can be minimized. Type a descriptive quantitative research using secondary data that the financial statements and annual report of PT Astra Agro Lestari Tbk. Companies that have been the object of research is one of the companies listed in JII (Jakarta Islamic Index). Research shows that the application of forward hedging contract on net liabilities in foreign currencies PT Astra Agro Lestari Tbk in 2015 could reduce the value of a foreign exchange loss on the year. Accounts receivable balance of the contract will increase total assets, while the accounts payable balance of the contract will increase total liabilities. forward hedging contract Sharia can provide a positive influence on the company can be seen from the changes that make the financial statements for the better.

scholarly journals Analysis of the organizations accounts payable of the Kalmykia Republic

2018 ◽  
Vol 80 (2) ◽  
pp. 351-357
Author(s):  
M. P. Sarunova ◽  
T. V. Burlutkin ◽  
T. Z. Sandzhieva
Keyword(s):  
Financial Stability ◽  
Financial Analysis ◽  
Dynamic Changes ◽  
Accounts Receivable ◽  
Financial Condition ◽  
Accounts Payable ◽  
The Status ◽  
The Republic ◽  
Further Development

The article shows the organizationsaccounts payableof the Republic of Kalmykia as one of the most important elements of financial analysis as a separate organization, industry and the whole region. The dynamic changes in accounts payable on the basis of statistical datawere analyzed. It was revealed that the vast majority of overdue accounts payable was formed in housing and communal services. We carried outthe structural analysis of overdue debt composition and revealed the ways of its control. In order to identify the most "vulnerable" areas of economic activity from non-payment, the share of overdue debt to the total amount of debt by industry was considered. To assess the timeliness of payments of enterprises on obligations and the quality of accounts payable, we performed the analysis of the share of overdue accounts payable in its total volume. On thatbasiswe found out the approaches to optimizing the management of accounts payable, leading to the growth of financial results and further development of the economy of the Republic of Kalmykia. To analyze financial stability, it is important to consider not only the status of accounts payable, but also the ratio of accounts receivable to accounts payable. The analysis showed that the proportion is irrational; it is obvious that companies have attracted significant borrowed resources, but currently use of them in their current activitiesinefficient. The article concludes that the financial situation of enterprises and organizations of the region is extremely unstable when there is an annual growth of accounts payable and accounts receivable. In order to stabilize the financial condition of enterprises and organizations of the Republic of Kalmykia, improve their solvency and strengthen the settlement and payment discipline we explored the possibility of restructuring of accounts payable, which requires an analysis of each creditor separately, including all components of the debt-principal amount, interest and penalties.

scholarly journals The problem of risk management of business activities on the basis of estimates of financial statements

2020 ◽  
Vol 8 (2) ◽  
pp. 56-60
Author(s):  
Tatyana Serebryakova ◽  
Aleksandr Suglobov ◽  
Tatyana Fedosenko
Keyword(s):  
Risk Management ◽  
Negative Impact ◽  
Financial Statements ◽  
Financial Accounting ◽  
Accounting System ◽  
Accounts Receivable ◽  
Incorrect Decision ◽  
Asset Value ◽  
History Of

Business activities are characterized by risks, since all responsibility for an incorrect decision falls on the business entity with a loss. One of the necessary functions for business is to assess risks and develop solutions to minimize them or other strategies to limit the consequences of the negative impact of risk events. It is considered that organizations do not have the risk accounting system necessary to manage them. However, as the history of accounting development and its transformation into financial accounting shows, risks are successfully taken into account in system accounting. At the same time, we consider the risks of loss of asset value, return of accounts receivable, occurrence of additional obligations in excess of the usual ones, inflation risks, and some others. Their accounting methods are ambiguously regulated, and many problematic aspects remain, including the conceptual and methodological apparatus for risk accounting. Among the problems, management is not prepared to use the final information based on the results of risk accounting. This article is devoted to the consideration of these issues.

scholarly journals ABOUT THE PROBLEM OF ACCOUNTS IN THE ECONOMY OF RUSSIA

2021 ◽  
Vol 10 (34) ◽  
Author(s):  
A.Y BYSTRITSKAYA ◽  
◽  
A.A GOLOVIN ◽  
S.D MAYKOVA ◽  
D.V NIKOLENKO ◽  
...  
Keyword(s):  
Financial Stability ◽  
Research Area ◽  
Financial Assets ◽  
Effective Management ◽  
Accounts Receivable ◽  
Economic Instability ◽  
Russian Economy ◽  
Accounts Payable ◽  
Overall Performance ◽  
Twofold Decrease

In modern conditions, receivables have become an integral part of the economy of domestic enterprises, which is associated with economic instability, variations in their financial stability and often negatively affects the solvency. The growth of accounts receivable adversely affects the financial turnover of creditor enterprises, for debtors the impossibility of quick and timely fulfillment of financial obligations leads to an increase in accounts payable, thereby reducing their financial stability and increasing the likelihood of bankruptcy, which makes the problem of formation of accounts receivable a topical research area. During the study, an assessment of the state of receivables in the Russian economy was carried out, the main trends and their causes were identified. It was found that the volume of accounts receivable in the Russian economy today, despite an almost twofold decrease in 5 years - from 11.4 trillion. rub. up to 6.2 trillion rubles, as before, is quite impressive, which is associated with economic instability, accompanied by periods of greater recession and crisis phenomena. This is confirmed by the results of the study, which emphasize that today in the economy about 20% of the financial assets of enterprises are in the form of accounts receivable. Effective management of accounts receivable in difficult economic conditions is becoming increasingly important, since it is aimed at improving the overall performance of domestic enterprises and the economy.

Why Do Firms Write Off Their Goodwill? A Comparison of Different Accounting Systems

2015 ◽  
pp. 23-40 ◽  
Author(s):  
Francesco Avallone ◽  
Claudia Gabbioneta ◽  
Paola Ramassa ◽  
Marco Sorrentino
Keyword(s):  
Good Deal ◽  
Financial Statements ◽  
Cash Flows ◽  
Accounting System ◽  
Anglo Saxon ◽  
Accounting Systems ◽  
Ifrs Adoption ◽  
The Future

Increased comparability of financial statements across adopting countries is one of the main objectives of IFRS adoption. The level of achievement of this objective, however, is still debatable. While some studies have documented that crosscountry comparability of financial statements has increased after IFRS adoption, other studies have found that comparability has actually decreased since 2005. We contribute to this debate by studying whether the motivations for goodwill writeoff are the same or vary across countries with different accounting systems. Although a good deal of research has investigated the motivations for goodwill writeoff, our study is the first to analyze whether these motivations vary across countries with different accounting systems. We find that firms that expect low cash flows in the future are more likely to report goodwill write-offs if they are located in countries with an Anglo-Saxon accounting system than if they are located in countries with a Continental accounting system. These results suggest that IFRS are "interpreted" differently in different countries and that harmonization of financial statements has not been fully achieved yet.

Comparison of the perception of overt and covert options in IPSAS financial statements by intergovernmental organizations

Tékhne ◽  
2018 ◽  
Vol 16 (1) ◽  
pp. 28-39
Author(s):  
Berit Adam
Keyword(s):  
Public Sector ◽  
European Commission ◽  
Accounting Standards ◽  
Financial Statements ◽  
Criminal Court ◽  
Intergovernmental Organizations ◽  
Accounting System ◽  
Accrual Accounting ◽  
Public Sector Accounting ◽  
Primary Reference

AbstractSince 2012, the European Commission has embarked on the ambitious project to harmonize public sector accounting rules on all levels of government within Europe, mainly to improve the quality as well as the comparability of financial data. Although International Public Sector Accounting Standards were deemed not to be suitable for a simple take-over because of various reasons, they nevertheless shall function as a primary reference point for developing European Public Sector Accounting Standards. A total of 21 out of 28 central governments have already reformed their accounting standards to accrual accounting, and some of them have also relied on IPSAS in this exercise. Apart from governments, various international and supranational governmental organizations have also since the end of the 2000’s been reforming their accounting system to accrual accounting, and have in the same way relied on existing IPSAS. This paper explores accounting practices found in ten intergovernmental organizations (Commonwealth Secretariat, Council of Europe, European Commission, IAEA, INTERPOL, ITER, NAPMA, OECD, International Criminal Court, WFP) whose statements are prepared in compliance with IPSAS. It analyzes how overt and covert options contained in IPSAS with relevance to the activities of intergovernmental organizations are exercised and evaluates in which areas of accounting material differences in accounting practices can be found, which may hinder the comparability of financial statements prepared on the basis of IPSAS.

Analyzing the accuracy of bank reliability assessment based on official reporting

2020 ◽  
Vol 26 (2) ◽  
pp. 327-348
Author(s):  
O.I. Razumova
Keyword(s):  
Financial Reporting ◽  
Financial Stability ◽  
Systems Approach ◽  
Reliability Assessment ◽  
Financial Statements ◽  
Rating Agencies ◽  
Short Term Forecasting ◽  
One Year ◽  
Key Indicators ◽  
Correct Forecast

Subject. The article considers ratings of banks' reliability. Objectives. The aim is to evaluate the accuracy of existing methodology for bank reliability assessment based on official reporting, to identify patterns between indicators and factors that can affect the financial sustainability of a bank. Methods. The study draws on the comparative analysis of key indicators of bank's financial statements one year prior to the introduction of provisional administration, and evaluates the results of existing methods for analyzing the financial standing of banks. Results. The findings show that those methods that use only official reporting to assess the reliability of banks are not sufficient for short-term forecasting of financial stability. Ratings of the majority of agencies that rest on official reporting have a high percentage of erroneous results, therefore, rating agencies are not able to predict the regulator's decisions regarding a credit institution. Conclusions. Currently, there are no universal methods to determine reliability, which would provide a correct forecast of deteriorated financial position of the bank. It is important to use a systems approach, where financial reporting is not a key component.

FRAUD TRIANGLE ANALYSES IN DETECTING FRAUDULENT FINANCIAL STATEMENT USING FRAUD SCORE MODEL

2020 ◽  
Vol 25 (1) ◽  
pp. 29-44
Author(s):  
Mariati ◽  
Emmy Indrayani
Keyword(s):  
Financial Stability ◽  
Linear Regression Analysis ◽  
Financial Statements ◽  
Multiple Linear Regression Analysis ◽  
External Pressure ◽  
Financial Statement ◽  
Fraud Triangle ◽  
Financial Statement Fraud ◽  
Financial Condition ◽  
Score Model

Company’s financial condition reflected in the financial statements. However, there are many loopholes in the financial statements which can become a chance for the management and certain parties to commit fraud on the financial statements. This study aims to detect financial statement fraud as measured using fraud score model that occurred in issuers entered into the LQ-45 index in 2014-2016 with the use of six independent variables are financial stability, external pressure, financial target, nature of industry, ineffective monitoring and rationalization. This study using 27 emiten of LQ-45 index during 2014-2016. However, there are some data outlier that shall be removed, thus sample results obtained 66 data from 25 companies. Multiple linear regression analysis were used in this study. The results showed that the financial stability variables (SATA), nature of industry (RECEIVBLE), ineffective monitoring (IND) and rationalization (ITRENDLB) proved to be influential or have the capability to detect financial statement fraud. While the external pressure variables (DER) and financial target (ROA) are not able to detect the existence of financial statement fraud. Simultaneously all variables in this study were able to detect significantly financial statement fraud.

Southern Industries: A Realistic Simulation of Substantive Testing for Accounts Receivable

2019 ◽  
Vol 34 (4) ◽  
pp. 1-13
Author(s):  
Leslie H. Blix ◽  
William Blix ◽  
Mark Edmonds ◽  
Emily S. Keenan
Keyword(s):  
Financial Statements ◽  
Accounts Receivable ◽  
Realistic Simulation ◽  
Revenue Cycle ◽  
Audit Program

ABSTRACT This case helps prepare students for internships and careers in the audit profession by providing them with a realistic simulation of year-end substantive testing of Accounts Receivable. Students are given an audit program for testing management's assertions for the Accounts Receivable balance, and they are provided realistic supporting documentation with which to conduct their tests. Throughout the simulation, students will perform the following procedures: (1) identifying the correct supporting documents for each test and how to perform the required test work, (2) learning how to properly document their findings, (3) identifying any audit issues that arise during the performance of their test work, (4) rendering judgment for common issues that arise during the audit of the revenue cycle, (5) tying the supporting work papers to the trial balance and financial statements, and (6) understanding how an auditor can provide reasonable assurance about an account balance through substantive test work.

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