Financial Statements
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2021 ◽  
Vol 13 (2) ◽  
pp. 65-71
Helda Aslim Safitry ◽  
Dwi Iga Luhsasi ◽  
Carolina Lita Permatasari

The financial statement can be used to determine company activities, one of them to assess the condition of financial to balance and profit /loss statement. For asses and analyze financial statements are required analysis tools are financial rations. The purpose of this study is to determine the financial performance of the Wiru Village government in 2018-2020. This study uses a qualitative approach with financial analysis tools. The result of this study is Wiru village in 2018- 2020 the self-reliance ratio is very low, effectiveness ratio is very effective, in 2018 the efficiency ratio is not efficient and in 2019-2020 is not efficient, the dependency ratio is very high, and the growth ratio in 2018-2019 has decreased, and then in 2019- 2020, it has increased.

Auditor ◽  
2021 ◽  
pp. 50-54
N. Mislavskaya

The article analyzes the modern accounting practice of reflecting goodwill in the system of accounting accounts. As a scientific approach to solving this problem, the author uses an interdisciplinary approach, within which various aspects are used as a toolkit for solving the indicated problem. Based on the results of research on the theory and practice of corporate management, the author comes to the conclusion that the interpretation of the economic nature of goodwill is ambiguous, and, as a consequence, of its incorrect accounting. The identification and recognition of goodwill in the accounting (financial) statements as an asset is questioned.

Auditor ◽  
2021 ◽  
pp. 33-39
N. Loseva

The article discusses the estimated liabilities, their study and assessment in accordance with the provisions of Russian accounting standards (RAS) and International Financial Reporting Standards (IFRS).

O. Fomina ◽  
S. Semenova ◽  
O. Moshkovska ◽  
T. Lositska

Abstract. The aim of the article is to study the importance of balance budgeting for agribusiness enterprises and to develop a sample balance budget that meets the needs and characteristics of their activities, reflects the key indicators of financial condition to achieve the target level of economic development. Approaches to determining the essence of the budget and budgeting are generalized, the main features of budget classification are systematized and the place and importance of the balance budget are characterized. The peculiarities of drawing up balance budgets for agribusiness enterprises, which consist in the method of initial recognition of agricultural products, assessment of current and long-term biological assets, reflection in the accounting of land plots, biological transformations, are analyzed. The method of determining budget indicators, the procedure for their coordination and relationship with other types of budgets are described. The proposed balance budget is substantiated, which is supplemented by analytical parameters to assess the financial condition of the enterprise and support effective decision-making. The balance sheet usually contains standard items of financial statements by month for the year, so an important addition is the presentation of deviations for all indicators for the year and average annual values, which will provide more smooth estimates. The scientific novelty of the study is to formalize the process of balance budgeting and balance sheet development for agribusiness enterprises, which takes into account the peculiarities of their activities and contains analytical indicators that help model liquidity, solvency and financial stability and achieve them in the long run. The results of the study allow to organize budgeting more effectively, facilitate the process of developing balance budgets and present them in a supplemented form to manage the financial condition of agribusiness enterprises, increase their book value and economic development. Keywords: budget, balance budgeting, agribusiness enterprise. JEL Classification М49, М21, Q19 Formulas: 0; fig.: 0; tabl.: 1; bibl.: 22.

2021 ◽  
Vol 4 (3) ◽  
pp. 961
Norman Hadi ◽  
Sriyani Sriyani

The reform of state financial management in 2003 was aimed at realizing transparent and accountable government financial reporting. Reform of state financial management is the first step in improving the quality of state finances. In the government environment, fixed assets play an important role in government operations and also benefit the community. The problem studied is how the suitability of accounting for fixed assets at the Lubuklinggau Police with PSAP number 07 concerning Accounting for Fixed Assets from the point of view of recognition, measurement, presentation, and disclosure of Fixed Assets in Financial Statements. The research method used is a qualitative method, the method of data collection is carried out by means of observation and interviews with parties related to accounting at the Lubuklinggau Police Station. The results of this study are the Lubuklinggau Police Station has implemented Fixed Asset Accounting in accordance with PSAP 07, namely Assets are recognized when future economic benefits have been obtained and their value can be measured reliably, Fixed Assets are measured at cost, depreciation is carried out using a straight line and presented in Balance sheet according to PSAP 07.

2021 ◽  
Vol 19 (02) ◽  
pp. 303-336
Larysa Dokiienko

Purpose – The main purpose of the article is to justify an alternative approach to assessing the level of financial security of the enterprises based on use the model of modified and adjusted financial statements. Research methodology – The following methods of general theoretical and empirical research were used in the writing of the article: abstract-logical (when systematizing scientific publications on the problems of financial security management of enterprises), comparisons and grouping (when developing and validating a model of modified financial statements), coefficient (when considering and using models for adjusting modified financial statements), grouping (when clustering enterprises depending on the results of the analysis), formalization (when developing a matrix for diagnosing the level of financial security of enterprises), generalization (when formulating research findings). Findings – Based on an established sample from nine of sunflower oil production enterprises of Ukraine their modified financial statements have been developed, it was adjusted to the consumer price index, key financial indicators of the model have been identified and the level of their financial security over the past 7 years have been assessed. The research identified a direct relationship between the level of financial security of enterprises and key financial indicators: financial stability, solvency and financial risk. Also, the proposed methodological approach can be not only an important tool for diagnosing the level of financial security of enterprises, but also its forecasting. Research limitations – The research limitation is associated with sampling size and geographical scope. Also, the diagnostic results may differ depending on the chosen adjustment base, determination of adjustment method and selection of inflation measurement method for the modification financial statements. Practical implications – Practical use of the proposed model proves that it is a convenient, simple, understandable and effective tool for diagnosing the financial security level of enterprises in terms of the main components: financial stability, solvency, and risk. The use of the proposed approach to the assessment of the financial security of the enterprise can serve as an indicator of the overall efficiency of its management at sunflower oil production enterprises and as an informative tool for factor analysis. Originality/Value – Consideration of a significantly different, alternative approach that allows enterprises to quickly and easily diagnose the level of their financial security; to manage it effectively during the current period, and can also become the basis for the formation of strategic directions of financial development and forecasting of the level of financial security for prospective period.

2021 ◽  
Vol 16 (11) ◽  
pp. 59
Francesco Bellandi

Although BCUCCs are widespread, a clear treatment is missing under IFRS. Most contributions have taken partial views. This article innovatively provides a systematic theoretical apparatus of the role accounting plays for all the affected members of a group, with a focus on gain or loss opportunities below the consolidated statements. The method used is international technical accounting analysis under IFRS and U.S. GAAP. It shows how a BCUCC may be driven to achieve gain/loss in separate financial statements and how cross-company consistency in policies and substance may reveal gain/loss arbitrage; the interaction of principles for disposals, demergers, and business combinations; and the position of sub-holdings, which in real practice is more relevant than the ultimate parent company. This paper is timely, as the IASB has recently published a Discussion Paper. The IASB project fails to give answers to these points as it only looks at the receiving entity and consolidated statements.

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Jalil Khaksar ◽  
Mahdi Salehi ◽  
Mahmoud Lari DashtBayaz

Purpose This paper aims to analyze the relationship between the following auditor's characteristics with detecting frauds in the listed companies on the Tehran Stock Exchange. Design/methodology/approach A multiple regression model is used to test the research hypothesis. The hypothesis was further tested with a sample of 187 companies listed on the Tehran Stock Exchange (1,309 observations) from 2012 to 2018 and by using multiple regression models based on panel data and the random-effects model. Findings The results suggest a positive and significant relationship between audit firms' size, auditor rotation, specialization in the industry, the audit market's focus, auditor's independence, audit report lag and renewal of financial statements with fraud detection. The results revealed a significant relationship between the period of auditor tenure, auditor's narcissism, audit fees and the type of auditors' opinion (un-qualified opinion) with fraud detection. Originality/value As the present study is a pioneer in examining this issue in the emerging markets, it provides users, analysts and legal entities with useful information about auditor characteristics that significantly affect the fraud detection of financial statements. The results mitigate the literature gap and improve knowledge in this area.

2021 ◽  
Vol 11 (2) ◽  
pp. 67-74
Mst. Hasna Banu ◽  
Md. Sayaduzzaman ◽  
Subhash Chandra Sil

The prime concentration of this study is to scan the respondents’ opinions regarding the application status of the different units of GAAP in preparing the different financial reports by the sample banks. To meet this objective an attempt has been made to collect opinions from one hundred fifty respondents comprising of fifty chartered accountants, fifty cost and management accountants as well as fifty academicians. Frequency analysis has been used to evaluate their perceptions. The result of frequency analysis reveals that the sample banks greatly apply the accounting entity assumption, going concern assumption, assumption of a stable momentary unit as well as time period assumption in preparing the financial statements. Furthermore, this study has likewise employed ANOVA as well as Chi-square techniques to investigate whether there is any significant deviation amidst the respondents’ opinion concerning the execution of different segments of GAAP for financial reporting practice of the sample banks and the outcomes indicate that there is the significant difference among the respondents’ opinion regarding the application status of the different units of GAAP in financial reporting practice by the sample banks in some cases and in other cases the difference of opinion has also been observed.

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Garry D. Carnegie ◽  
Ann Martin-Sardesai ◽  
Lisa Marini ◽  
James Guthrie AM

Purpose The Australian higher education sector faces severe risks from the consequences of COVID-19. This paper aims to explore these risks, their immediate impacts and the likely future impacts. The authors specifically focus on the institutional financial and social risks arising from the global pandemic. Design/methodology/approach The authors collect data using the 2019 annual reports of the 37 Australian public universities and relevant media contributions. The findings of identified sector change are interpreted through Laughlin’s organisational change diagnosis. Findings The sector confronts significant financial and social risks because of its over-reliance on income from fee-paying onshore overseas students resulting in universities primarily undertaking morphostatic changes. These risks include job losses, changing employment conditions, mental health issues for students, scholars, other staff, including casual staff, online learning shortfalls and the student expectations of their university experience. The study reveals how many of these risks are the inevitable consequence of the “accountingisation” of Australian public universities. Practical implications Despite material exposure, the universities provide only limited disclosure of the extent of the risks associated with increasing dependence on overseas student fees to 31 December 2019. The analysis highlights fake accountability and distorted transparency to users of audited financial statements – a major limitation of university annual reports. Originality/value Research on the Australian higher education sector has mainly focussed on the impact of policies and changes. The public disclosure of critical risks taken by these universities are now addressed.

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