Accounting Entity Research Articles

Global warnings and the role of national filters in shaping formal governance of university performance

PurposeThe purpose of this article is to assess the continuing relevance of Olson et al.’s (1998) four primary concerns regarding the future development of New Public Financial Management (NPFM) in public service organizations. A particular focus is on understanding changes in the formal systems governing the performance management of universities across different “soft-NPFM” national contexts as well as the identification of successful strategies to mediate those four concerns.Design/methodology/approachChanges in the formal systems governing the performance management of universities in three European countries – Estonia, Finland and Norway – are reviewed in their historical contexts. Methodologically, this article is based on a content-driven analysis of documents, reports and scientific literature, supplemented by the collective memory of the co-authors.Findings“Warnings” have materialized quite differently in the three countries due to unique “national filters.” These filters are represented by different understandings of how universities are defined in terms of their governance and ownership, such as whether the universities are agents of the state or independent accounting entities with their own legal rights. These “national filters” seem to affect how NPFM is translated into the formal systems governing the performance management of universities.Originality/valueThis article contributes to the literature by examining how some countries and their governments manage to achieve “selective complementarity” of different reforms and trends. This complementarity helps to avoid the “dysfunctional effects” and “extremes” of NPFM.

Common Reporting Standard as a model for tax information exchange: mechanism of operation and implementation status in Ukraine

The article studies the Common Reporting Standard (CRS), an information standard for the automatic exchange of tax information between states that are parties to the Multilateral Competent Authority Agreement (MCAA). It also explores the prospects of Ukraine’s participation in the exchange under this standard. The study analyzes the information subject to international exchange, types of financial institutions required to collect and submit tax-relevant information to authorities for international exchange, account types, tax residents, and methods of verifying client integrity when opening accounts. The article aims to systematize knowledge about the prerequisites for creating, the mechanism of intergovernmental tax cooperation within the CRS framework, current results achieved under this standard, Ukraine’s accession status, steps taken by Ukraine towards implementing automatic exchange of tax information, and recommendations for accountable entities and account holders on complying with CRS rules. The study employed a comprehensive research methodology, including a literature review, analysis of normative documents, and comparative analysis. The conclusions emphasize the crucial importance of Ukraine’s accession to the CRS standard for ensuring proper tax compliance and budgetary revenues, particularly amid full-scale Russian aggression. The study also describes the challenges, especially regarding compliance with tax data exchange requirements by financial institutions and account holders. It underscores the need for strong political will from Ukrainian authorities to overcome obstacles and ensure effective CRS implementation. Overall, the study highlights the significant role of CRS in improving tax collection while acknowledging the hurdles ahead. The research perspective on this topic is extensive, given that automatic tax information exchange, particularly under the investigated standard, is currently being established and is relatively underexplored by researchers.

مراجعة قوائم وتقارير الشركة المساهمة خارجياً: بين حقٍ مبينٍ وسرابٍ مستحيلٍ

The separation of ownership and management in the corporate model resulted in the need for an external party to certify the representation of the financial statements prepared by the corporation’s executive management of its financial position and the financial, cash and operational performance of its executive management. The existence of the corporation whose shares are traded in the market and stock exchanges also resulted in the emergence of a class in society, lurking for price fluctuation. Accounting has founded a concept that it is the servant of every rational decision maker. However, the concept of 'decision makers' in accounting is imaginary. Financial accounting has not been able for more than a century and until our present moment to provide a model for the financial statements and reports that the corporation is required to prepare and publish in response to their so-called needs of its financiers. The financial statements are prepared based on financial accounting standards, which represent the contemporary accounting truth. Such truth is impossible and is not a reflection of the economic reality on which the accounting entity is constructed. The external auditor’s approval of the corporate financial statements prepared by its executive management makes him its partner in preparing the financial statements and reports. What gives value to the opinion of the external party is his possession of the technical knowledge that gives him an advantage over the rest of the members of his society, and his independence from the executive management is the foundation of his work and professionalism. However, academic research in accounting and auditing casts doubt on the objectivity of the external auditor and even his ability to be independent, as their relationship is closer to cooperation than to opposition, representing the interests of the party absent from the contractual relationship between them. External auditing is the only profession whose practitioner must monitor whom he receives his fees in service to watch the interest a part that is absent in the contractual relationship. The external auditor does not provide the service of auditing the financial statements and reports of corporations as a community or voluntary service, but rather it is a service in exchange for covering his expenses and achieving a source of income. Also, work skills and dealing with the audit firm’s clients are of great importance in the audit firm, and leadership. Reliance on the one-partner model in implementing audit engagements is a source of risk. The external auditor is a product of his society. The doctrine that his society follows is his belief, and it is what affects his decisions. It is the balance of matters. Strengthening the independence of the external auditor, even in the presence of legislation, is not sufficient for the independence of the mind of the external auditor.

Application of social environmental accounting in village-owned business enterprises to realize green accounting

Village-Owned Enterprises (BUMDes) aims to improve village welfare by optimizing village resources. BUMDes are expected to carry out social responsibilities towards the community during their operations, including implementing environmental accounting. In environmental accounting, management informs stakeholders about their responsibilities and how an entity’s business actions impact the environment. The term “environmental accounting” refers to accounting as a source of this information. The financial report in Green Accounting conveys information about the environmental impact. The aim of this research is to analyze the implementation of Green Accounting in BUMDes “Bagjaraharja” in relation to the existence of Green Accounting as a benchmark for the realization of the Green Accounting entity. This qualitative descriptive study involves in-depth interviews with related parties, environmental accounting observations, examination of BUMDes financial reports, and documentation of the results. After observations, interviews and documentation were carried out, data was collected, and conclusions were made. BUMDes “Bagjaraharja” has prepared a report on environmental impacts in accordance with PSAK 1 concerning the presentation of financial statements. Even though this report is still simple, the unique presentation of this environmental accounting report shows the attention of BUMDes “Bagjaraharja” to the provision of environmental accounting information. Ultimately, the policies, human resources and infrastructure readiness of the implementing entity are very important to optimize the implementation of environmental accounting.

ПРОБЛЕМЫ УЧЕТА ПОСТПЕНИТЕНЦИАРНОГО РЕЦИДИВА

The article deals with one of the problems of modern criminology: the lack of a mechanism for accounting for post-penitentiary recidivism. The paper gives the concepts of post-penitentiary recidivism and post-penitentiary criminality. Analyzing official statistical data, the author concludes that they are insufficient for calculating the scale of post-penitentiary crime and analyzing its characteristics. Modern accounting systems are compared with the Soviet system of special accounting of post-penitentiary recidivism, built on a dynamic model. This provided much more information for calculating real indicators of post-penitentiary recidivism. In Russia, statistics mixes several subtypes of criminological recidivism: penological, post-penological, penitentiary and post-penitentiary recidivism. As a result, there are fewer opportunities to study the causes and factors that provoke each of these types of recidivism. Opportunities to develop an effective system of recidivism prevention are diminished. In addition, the terminology used by different accounting entities differs. Therefore, there is no possibility to study the real scale of both criminal (legal) and subtypes of criminological recidivism (including post-penitentiary). The article offers approximate calculations of the level of post-penitentiary recidivism on the basis of available statistical data. In conclusion, the author’s proposals for improving the systems of recording recidivism are formulated.

No health without access: using a retrospective cohort to model a care continuum for people released from prison at an urban, safety net health system

BackgroundRelease from prison is characterized by discontinuity of healthcare services and results in poor health outcomes, including an increase in mortality. Institutions capable of addressing this gap in care seldom collaborate in comprehensive, data-driven transition of care planning. This study harnesses information from a data exchange between correctional facilities and community-based healthcare agencies in Colorado to model a care continuum after release from prison.MethodsWe merged records from Denver Health (DH), an urban safety-net healthcare system, and the Colorado Department of Corrections (CDOC), for people released from January 1 to June 30, 2021. The study population was either (a) released to the Denver metro area (Denver and its five neighboring counties), or (b) assigned to the DH Regional Accountable Entity, or (c) assigned to the DH medical home based on Colorado Department of Healthcare Policy and Financing attribution methods. Outcomes explored were outpatient, acute care, and inpatient utilization in the first 180 days after release. We used Pearson’s chi-squared tests or Fisher exact for univariate comparisons and logistic regression for multivariable analysis.ResultsThe care continuum describes the healthcare utilization at DH by people released from CDOC. From January 1, 2021, to June 30, 2021, 3242 people were released from CDOC and 2848 were included in the data exchange. 905 individuals of the 2848 were released to the Denver metro area or attributed to DH. In the study population of 905, 78.1% had a chronic medical or psychological condition. Within 180 days of release, 31.1% utilized any health service, 24.5% utilized at least one outpatient service, and 17.1% utilized outpatient services two or more times. 10.1% utilized outpatient services within the first 30 days of release.ConclusionsThis care continuum highlights drop offs in accessing healthcare. It can be used by governmental, correctional, community-based, and healthcare agencies to design and evaluate interventions aimed at improving the health of a population at considerable risk for poor health outcomes and death.

ANALYSIS OF THE APPLICATION OF FINANCIAL ACCOUNTING STANDARDS OF ENTITIES WITHOUT PUBLIC ACCOUNTABILITY (SAK ETAP) TO THE FINANCIAL STATEMENTS OF PT. PUSPA LESTARI

The purpose of this study is to examine how the Accounting Standards for Non-Publicly Accountable Entities (SAK ETAP) are applied to PT's financial statements. LESTARI POPULAR. Primary data obtained directly from PT served as the research methodology and data source for the qualitative descriptive method. LESTARI PUSPA. The testing strategy utilized a purposive inspecting technique with the 2018 fiscal report information. The insightful technique utilized was an expressive examination with a subjective methodology.The study's findings demonstrated that PT. PUSPA LESTARI introduced balancer reports and pay proclamations that are proper for the SAK ETAP. PT did not present the financial statement notes or the capital report. PT's cash flow statement and PUSPA LESTARI Although it has been presented, PUSPA LESTARI does not yet comply with the SAK ETAP.

SISTEM PENGAJUAN DAN PELAPORAN PENGELOLAAN KARYA LIMBAH DI DINAS PERUMAHAN DAN PERMUKIMAN

AbstractSubmission and reporting is an amalgamation originating from regional accounting entities that receive deconcentration funds, auxiliary duty funds and joint task funds. Submission and reporting is the result of the accounting process that can be used as a tool for communication of financial data or regional institutions to the parties concerned. It could be said that this submission and reporting serves as information that connects regional institutions with the parties concerned. The submission and reporting provides information about economic resources and reporting obligations to report the results of the submission on a specified date as well as the flow of economic resources during the period. walk. This information is needed by interested parties to assess the reporting entity's ability to carry out future activities. the party responsible for providing information to assist users in estimating the results of operations and management.Keywords: Filing Analysis and Financial Statements Keywords: analysis of submussions and financial statements

The dissipation of corporate accountability: Deaths of the elderly in for-profit care homes during the coronavirus pandemic

The COVID-19 pandemic has raised serious questions about corporate accountability, exposing how poorly our systems of corporate accountability function under pressure. This paper examines one industry and jurisdiction where this problem is particularly visible, for-profit care homes for the elderly in Ontario, Canada (where the industry is called “long-term care” [LTC]). LTC companies continued to pay bonuses to executives and dividends to investors while COVID-related deaths mounted in their facilities. What does this tell us about how society holds companies accountable for their actions? This paper focuses on two highly institutionalized systems of accountability in the LTC industry in Ontario, namely healthcare governance and financial governance. We examine these two systems in the context of public pressure for regulatory action, pressure that has manifested in mainstream media coverage, social media outrage, and the threat of civil lawsuits. We compare the efficacy of healthcare and financial governance in this industry using a theoretical framework drawn from accountability literature, and explore the possibility of legal consequences for LTC corporations under corporate criminal law. We show how these systems together serve to dissipate corporate accountability through a fragmented, inadequate system of conflicting governance mechanisms, despite making a show of accountability rituals. We argue that these systems work together to divide the moral community in which corporations exist and where meaningful accountability might be possible, facilitating the misrecognition of the “corporate imaginary” as an accountable entity.

The Influence of National Standards on Medicaid Managed Care Programs: Implications for Children and Youth with Special Health Care Needs.

To improve services and assure predictable costs of care for Children and Youth with Special Health Care Needs (CYSHCN), state Title V and Medicaid programs are cooperating to reconceive care systems including contracting arrangements with managed care organizations (MCOs). This article describes how a consensus-based framework, the National Standards for Systems of Care for CYSHCN, influenced the redesign of two state Medicaid managed care programs: a statewide managed care plan for children with medical complexity in Florida and a regional accountable care program serving children and adults in Colorado. Data are drawn from a recent evaluation of the National Standards, which define the core components of a comprehensive, coordinated, and family-centered system of care for CYSHCN. The authors synthesized insights from documents and semi-structured interviews with national and state stakeholders. The states used the National Standards in different ways. Florida translated the Standards into contract provisions and holds its MCO accountable to performance targets specific to CYSHCN. In Colorado, the Standards had an indirect influence on contract provisions with regional accountable entities (RAEs) and the state's oversight of EPSDT, which helps ensure that RAEs meet their obligations to CYSHCN. Managed care leaders viewed the Standards as an impetus to sharpen quality improvement and foster whole-person care. The National Standards offer a flexible framework to help states design Medicaid managed care programs and improve systems of care for CYSHCN. States can learn from one another's experiences applying the Standards in the context of their policy environments.

Management Accounting Development in the Process of Digital Economy Formation (Case of Georgia)

In the article there is given the assessment of digital economy in Georgia. It is established that effectiveness of managing activities of the organization depends on the information level support. There are discussed the issues of evaluation of the management accounting system functioning, development of cost accounting and budgeting methods, selection of the automated system for information and analytical support. The management accounting data allows not only to analyze the financial results of the organization activities, but also to manage costs, formulate assortment, investment, contract and pricing policies, and, consequently, directly to manage the organization work. The management accounting, which is the special system of knowledge, skills and abilities, can be described as the combination of two main subject areas: as a science and as a practical field of activity. The digital economics and management accounting are interrelated, because along with their development, the management accounting data appear digitally, processing them while using the innovative technologies. The management accounting should be flexible enough to provide any data needed to make the managerial decisions. The management accounting automation is the individual and complex process, as it is necessary to “transfer” the requirements of owners, managers to the accounting system, in terms of software product functionality and parameters, in accordance with the approved regulations. There exist the ready-made software products designed for automation of accounting, however, for medium and large business entities, the best option is to refine the software package for their specific activities, which will allow them to get the maximum efficiency. The article discusses the options for setting up the management accounting system in the organization, substantiates the benefits of implementing “1C: ERP Enterprise Management” as the mechanism for effective management of the company resources. Keywords: Automation, information technology, digital economy, management, Management accounting, control. JEL Codes: D83, L86, L96 The scientific works of the following authors are dedicated to a similar topic: Tchiladze .I; Sokolov I.V.; Vakhrushina M.A.; Ivashkevich V.B.; Kaverinoi O.D; Karpova T.P; Khorngrena CH.T; Foster D.J; Antonia R.N; Parker R.N and others.

ADVANTAGES AND RISKS OF ACCOUNTING OUTSOURCING

The purpose of the article is to study the advantages and risks of accounting outsourcing and justify the feasibility of its use as a method of modern accounting at enterprises of Ukraine. Methodology. The theoretical and methodological basis of the study is a systematic approach to the study of practical tools for the implementation and institutional support of the development of accounting outsourcing. In the process of research and systematization of the obtained results, general scientific and special methods wereused: abstract-theoretical; historical; dialectical; induction and deduction, analysis and synthesis; formalization and comparison. Results. One of the ways to solve this complex problem is the transfer of accounting of the enterprise to specialized firms on the terms of application of accounting outsourcing. This form of accounting allows enterprises to focus on the most profitable activities and reduce the cost of maintaining their own accounting structure. According to the results of the study of the legislative framework of Ukraine, literary sources and practical application, a generalized characteristic of the essence of outsourcing has been formed. The analysis of advantages and risks of alternative accounting options is carried out and factors that encourage enterprises to switch to accounting outsourcing are identified. It is established that accounting services on the terms of outsourcing in Ukraine are provided both directly for accounting and financial reporting, and for the performance of works that are not related to the current accounting. The main factors that prompt enterprises to the need to switch to accounting outsourcing are: a high level of loading from the processing of accounting information, a significant amount of overhead costs; frequent changes in legislation; lack of highly qualified accounting staff. Customers of protein outsourcing services are: large companies and banks that are able to ensure transparency of information; foreign companies, banks and their branches accustomed to transparency of information; state organizations with legal information; young enterprises for which outsourcing is necessary at the stage of outsourcing; private entrepreneurs and small businesses. It is confirmed that outsourcing, as a form in the organization of accounting at the enterprise, is an object of increased risk. To minimize their risks, the customer may fix in the contract the level of liability of the parties and the conditions for compensation of possible losses. Practical implications. The development of the outsourcing services market in Ukraine requires a modern accountant not only to know accounting and tax legislation, but also the ability to navigate business processes and own software. Modern achievements of automation of accounting processes and information processing affect the form of record keeping and the organization of accounting, allowing you to choose external accounting entities in order to reduce costs. According to the results of the study, the stages of the sequence of the process of outsourcing the accounting process of the customer enterprise are proposed. Value/originality. Accounting outsourcing, with proper regulatory and high-quality methodological support, has every opportunity to become a promising direction in the organization of accounting work at the enterprise. Well-built and implemented outsourcing services should ensure an increase in labor productivity and efficiency of customer information systems, reduce risks during the modernization of existing systems and the introduction of new ones.

Non‐author entities accountable for retractions: A diachronic and cross‐disciplinary exploration of reasons for retraction

AbstractRetraction notices are expected to be transparent about entities accountable for retractions and their reasons for retraction. No previous research on retraction notices has investigated accountable entities other than authors of retracted publications and their reasons for retraction from a cross‐disciplinary and a diachronic perspective. Drawing on a dataset of 7650 unique retraction notices published before 2020 and indexed in the Web of Science Core Collection, this study identified 457 retraction notices that held four types of non‐author entities accountable. Journal authorities (i.e., editors and publishers) were found responsible for retractions in 62.14% of the retraction notices, followed by unidentifiable entities (26.91%), third parties (6.13%), and dual entities (i.e., both authors and journal authorities, 4.81%). The three most frequent reasons for retraction were republication of valid publications (36.76%), unspecified reasons (26.91%), and publication of unpublishable work (17.07%). Accountable non‐author entities were more identifiable in the retraction notices published between 2010 and 2019 than in those published before 2010. Retraction notices in soft disciplines were more likely than those in hard disciplines to identify journal authorities as accountable entities. These findings offer implications for handling retractions more effectively and efficiently.

The phenomenon of NFT (non-fungible tokens) as an accounting entity

The emergence of the digital economy and increased activity in cyberspace have led to the creation of new technologies and digital products such, as non-fungible tokens (NFT). The article presents the arguments that justify the need to study NFT as an object of legal relations and an object of accounting. A brief description of these items has been given; their types and market of circulation have been studied, and, also the current legal provisions, Russian accounting standards and international financial reporting standards have been analysed. To define NFT as an accounting object, the types of accounting objects enshrined in Federal Law No. 402-FZ “On Accounting” have been considered and the criteria for their attribution in relation to NFT have been analysed. The legal and accounting problems associated with the emergence of a new object have been highlighted and the ways for further research in the field of creating an accounting methodology for NFT as a specific and highly promising digital product have been defined.

The Customer as an Accounting Entity

The aim of the article was to present the customer as an accounting entity. The article describes the growing role of the customer in company management. Businesses are increasingly customer-oriented, and this also results in a customer orientation of management accounting methods which can be used to measure customer costs and customer value. The results of the research on customer orientation of enterprises are discussed. The research was conducted among enterprises based in the Podkarpackie region with more than 49 employees. The results confirmed that the employees consider their customers to be important as they generate the most revenue. In contrast, a relatively small number of respondents identified customers as the people through whom the enterprise incurs costs and achieves economic success., whereas most entrepreneurs perceive customers only from the revenue side. The research methods used in the article are a critical analysis of the literature and a quantitative method, which consisted of direct research using the questionnaire technique.

Cops, Clinicians, or Both? Collaborative Approaches to Responding to Behavioral Health Emergencies.

How a community responds to behavioral health emergencies is both a public health issue and social justice issue. Individuals experiencing a behavioral health crisis often receive inadequate care in emergency departments (EDs), boarding for hours or days while waiting for treatment. Such crises also account for a quarter of police shootings and >2 million jail bookings per year. Racism and implicit bias magnify these problems for people of color. Growing support for reform provides an unprecedented opportunity for meaningful change, but solutions to this complex issue will require comprehensive systemic approaches. As communities grapple with behavioral health emergencies, the question is not just whether law enforcement should respond to behavioral health emergencies but how to reduce unnecessary law enforcement contact and, if law enforcement is responding, when, how, and with what support. This policy article reviews best practices for law enforcement crisis responses, outlines the components of a comprehensive continuum-of-crisis care model that provides alternatives to law enforcement involvement and ED use, and offers strategies for collaboration and alignment between law enforcement and clinicians toward common goals. Finally, policy considerations regarding stakeholder engagement, financing, data management, legal statutes, and health equity are presented to assist communities interested in taking steps to build these needed solutions.

Evaluation the Application Status of GAAP in Financial Reporting Practice: In Case of Banking Sector in Bangladesh

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.

The Factors Affecting The Performing Of Indonesian Accounting Standars For Non-Publicly Accountable Entities (Sak Etap) In Smes Assisted By Chamber Of Commerce And Industry (Kadin) Of West Java Province, Indonesia

Micro Small and Medium Enterprises (SMEs) sector gets more attention from the Government, because the composition of SMEs is large enough in the Indonesian economy when compared to large businesses in order to survive the pandemic. In the framework of national economic recovery (PEN) and given its role as the driving force of the national economy, the government provides various assistance to SMEs. However, there are various problems in SMEs, particularly in arranging of financial statements. The Government has set The Indonesian Accounting Standards for Non Publicly Accountable Entities (SAK ETAP) in 2009, as a guideline for preparing the simple of financial statements, making it easier financial statements preparation in accordance with the standards. The study objective finds out the influence of the Recording System, education level of owners, enterprises’ size, and enterprises’ age on performing of SAK ETAP in SMEs. The population in this study is owners of SMEs assisted by the Kadin Province of West Java. Sampling techniques with incidental sampling, namely participants who participated in community service activities Widyatama university. Technique of data collection uses questionnaires, then analyzed using descriptive analysis and multiple regression analysis. The outcome showed that the Financial Recording System has a effect positively on the performing of SAK ETAP in SMEs, while the education level, enterprises’ size, and enterprises’ age have no effect on the performing of SAK ETAP in SMEs. Recommendation, related parties (such as the SMEs Institution of West Java Province, Institute of Indonesia Chartered Accountant (IAI) and University) hold the training and socialization of SAK ETAP

Ways of Detection of Creative Accounting in a Global Economy

Research background: Any entity operating in a global economic environment is required to conduct an accounting agenda in such a way that its financial statements are prepared in a clear, comprehensible manner and adhere to the accounting principle of fair and true presentation of accounting facts as it serves as a source of information for internal and other external entities using this information in its economic decision-making. It is the principle of accurate and true presentation of accounting information that plays an important role in the field of creative accounting, in which the accounting data is adjusted or manipulated to the desired form. Purpose of the article: The main goal of this paper is to point out the issue of creative accounting and the possibility of its detection using selected models. Methods: The methodological part is focused on the application of the Beneish model and CFEBT model assuming the use of creative techniques in the period 2016-2020. Findings & Value added: The summary of the results of the analysis thus points to the use of creative accounting in a given accounting entity according to the Beneish model and CFEBT model, but this accounting entity, despite its use, did not violate the principle of a true and fair representation of the accounting reality.

Conflict between the Accounting Act and Czech Accounting Standards in land

The paper deals with the analysis of existing Czech accounting procedures in the case of land accounting. The method of process analysis is used, where the currently valid methodological procedures are examined. The strengths and weaknesses of this methodology are defined. It is found that the accounting and valuation of land according to Czech Accounting Standards is in conflict with the Accounting Act, according to which accounting data should provide a true picture of the status and value of the entity’s assets. The purchase price of the land is entered into bookkeeping and any decrease or increase in value is never accounted for again. In the case of forest land, the value of the land and the value of the plants grown on it are not accounted for separately. The accounting therefore does not provide users with true and current information. The good thing is that these accounting policies do not burden the accounting entity in any way. Furthermore, a proposal for new methodological procedures is presented. According to them, it would be possible to update the accounting data depending on the condition of the land and the development of market prices. Based on an expert opinion, a significant increase or decrease in the current value of the land would be accounted for. In the case of a forest, it would be possible to use analytical accounts to account separately for the condition of the land and the condition of the forest foliage. These new procedures would make it possible to reflect in bookkeeping the actual state of the entity’s assets. However, the disadvantage is the higher financial and time demand. Subsequently, the advantages and disadvantages of the currently effective and proposed methodology are compared.