Financial Statements Of Enterprises Research Articles

The Official Statistical Observation by Form “Report on Issue, Offering and Circulation of Securities”: The Importance for Decision-Making at the Ukrainian Stock Market

Practical aspects of preparation and use of the Official Statistical Observation of Ukrainian enterprises by Form “Report on Issue, Offering and Circulation of Securities” is highlighted from the perspectives of equity formation and transfer of ownership for equity components (shares and other securities). Value characteristics of issue, offering and circulation of issuers’ securities are discussed. It is demonstrated that the above characteristics constitute the information base for the operation of securities market, with the core data being the overall nominal value of securities belonging to the owners. Emphasis is made on the importance of data obtained from the form No 2-Б about issue, offering and circulation of securities for the Ukrainian stock market; data on key transactions on the securities market in 2012–2016 are given. 
 The classification and terms of the official statistical observation and the peculiarities of preparing the report on issue, offering and circulation of securities by form No 2-Б are discussed. The essential observation parameters are selected as the classification criteria, namely: characteristics of its organization, preparation, subject, respondents, statistical methodology, statistical tools, statistical indicators, etc. 
 It is stressed that statistical information carriers, e. i. observation forms, were being changed along with transformations in the Ukrainian economy. The evolution of the form No 2-Б for the official statistical observation of Ukrainian enterprises on issue, offering and circulation of securities over 1997–2017 is traced. The change in recording of aspects like bond value, as well as observation status, title, respondents, periodicity, contents of the form sections, etc. are shown. 
 The information base for the official statistical observation by form No 2-Б is the data from accounting and financial statements of enterprises issuing equity securities. The legal base is provisions and regulations of normative acts on equity, fixed in the statutory documents of an issuer. The information from accounting and financial statements of a joint-stock company on equity transferred to ownership has considerable value, being used for effective company management and for filling and submission of the form No 2-Б. The latter is of great interest for investors engaged in taking investment decisions. Conclusions from the study are made and areas of further studies are outlined.

Diagnostics of financial and economic sustainability of enterprise on a cash flow basis

The article considers financial and economic sustainability of enterprise from different perspectives, its types and factors that influence it. The approaches to the diagnosis of financial sustainability of the enterprise are briefly examined. The problems arising in carrying out of diagnostics of financial sustainability are determined. It is noted that it is possible to carry out the diagnostics of financial sustainability of the enterprise by means of cash flows. The study proposes to use cycles that can be characterized not only by the criteria of turnover, but also taking into account cash flows. It is proved that it is possible to conduct a diagnosis of financial sustainability using operational and financial cycles. Information provision for making the calculations is the financial statements of enterprise.

THE ADOPTION OF A GLOBAL ACCOUNTING FRAMEWORK AS A FOUNDATION FOR THE INTEGRITY OF THE FINANCIAL REPORTING

The subject of research in this work is the accounting of non-financial enterprises on a global scale. The subject of the article is to develop a global accounting framework for preparing and presenting the financial statements of business enterprises. The primary objective of the study is by analyzing the applicable accounting frameworks of IFRS, US and EU to derive the concept of financial reporting fundamentals. In the article is supported the thesis that the integration of different national accounting legislation and internationally applicable accounting frameworks is a theoretical and practical possible and feasible process at the center of which lies the deductive conceptual approach. The ultimate outcome of accounting integration will be reflected in the global adoption of the concept that financial reporting is a whole, comprehensive and complete process that aims to provide high quality information about the entity's business, the results achieved and the effectiveness of its operations, the changes in its cash flows and equity. The research approach is aimed at carrying out a structural analysis of the fundamental rules, norms and requirements of the conceptual frameworks of IFRS and the US Generally Accepted Accounting Principles as well as the EU Accounting Regulations. On this basis, on the one hand, the basic similarities and resemblances of the accounting frameworks in question are systematized and, on the other hand, their most significant contradictions are summarized. An attempt has been made to outline the factors, conditions and circumstances that have led to the establishment and adoption of different concepts in the accounting and presentation of financial statements of business enterprises. The article presents the role and importance of the processes of harmonization, convergence and adaptation of accounting rules as part of the evolutionary development of financial reporting. The author draws special attention to the fact that the integration of financial reporting should not be absolutized. Accounting globalization implies that, at global level, basic concepts, principles, rules and bases of accounting and presentation of aggregated accounting information are adopted in the financial statements of enterprises but at the same time hierarchically subject to specific rules and norms corresponding to the local , national and regional specificities. Although a global consensus has been reached on the purpose of financial reporting, at an individual enterprise level, accounting needs to meet the objectives, requirements and needs of both the owners of the capital and the external users of the summarized accounting information. In this regard, the European Union's experience with the enterprise categorization approach and, for each category, the applicable accounting basis and the minimum requirements for the content and structure of the financial statements can be successfully used internationally.

Peculiarities of accounting of reserves and unfinished production in the system of national accounts

The article has been devoted to the study of the problems of applying the information of financial statements of enterprises and organizations in the formation of fundamental macroeconomic indicators. The features of the methodology of the agreed accounting systems have been examined, the theoretical aspects of inventory accounting and unfinished production, when assessing the market output in the System of National Accounts, have been studied. The main macroeconomic indicators in International financial reporting standards (IFRS) and the System of National Accounts have been considered. The main components of the gross output and assumptions, on the basis of which the choice of the intermediate account format, have been adduced.

Облік водних, земельних та біологічних активів в контексті управління сталим розвитком: вибір пріоритетного вимірника

Water, land and biological assets are key resources for human livelihoods. But while the value of the assets of the virtual economy is growing insanely, such assets of the real economy as natural resources, populations of individual animals and plant species are becoming increasingly limited, and their price in the financial statements of enterprises does not adequately reflect their social value. The purpose of the article is to disclose relativity and insufficiency of financial data about the water, land and biological assets in an enterprise's reporting for the needs of managing the sustainable development, and based on this, justifying the priority and wider use of a non-financial meters in accounting for such assets, as well as the need to generate reports based on combination of financial and non-financial information. The factors that increase the relativity of the money meter in accounting for water, land and biological assets were disclosed. Considerable attention is paid to the study of the content of non-financial reporting, which in our time is becoming an important component of information support for managing sustainable development. The expediency of the wide use of non-financial meters in accounting for water, land and biological assets was proved. Based on the systematization of water, land and biological assets and taking into account their natural and economic characteristics, an approach to the use of monetary and non-financial meters in the accounting of such assets was proposed. It was revealed that for natural assets non-financial meter is main, and for created or recreated by man - a monetary meter. However, both in the first and in the second case, a complementary meter should be used for the formation of full data of accounting at all levels, and mainly in reporting. Synthesis of financial and non-financial meters will help users better understand accounting data and will increase the effectiveness of managing sustainable development. An example was given of a combination of monetary and physical indicators in disclosing information on agricultural land plots and the right to use them in the notes to the annual financial statements.

Searching for Key Factors in Enterprise Bankrupt Prediction: A Case Study in Slovak Republic

Abstract The issue of enterprise in bankrupt or financial health as a whole is still very actual topic not only in Slovakia but also in abroad. Works dealing with the enterprise in bankruptcy have already appeared in the 1930s of the 20th century. Bankrupt of enterprise affect all subject in relationship with this enterprise. Financial experts were looking for the ways for enterprise bankrupt prediction. This article is based on the searching for key factors that could indicate the enterprise in bankrupt in Slovak conditions. This article tries to work with financial variables from the area of financial health assessment of enterprise and works with the sample of Slovak enterprises. This sample includes 8,522 financial statements of enterprises in 2016. According to several relevant decisions rules, for example, the value of equity or equity debt ratio, enterprises are divided into two categories – bankrupt enterprises and creditworthy enterprises. Subsequently, this article tries to find statistically significant financial variables that could indicate involving enterprises in these two categories and works with several statistical methods for searching significant relationship between variables and the tightness of relations between them. As a main statistical method, Pearson´s correlation coefficient is used, which is supported by correlation matrices. In addition, it is necessary to test an existence of outliers in the sample of enterprises. Existence of outliers is tested by the Grubbs test of outliers.

THE INCREASE OF ENTERPRISES’ INNOVATIVE DEVELOPMENT BASED ON THE NETWORK APPROACH

The purpose of the paper is studying the role and problems of the innovative development of domestic enterprises, discovering the factors that influence these processes. Methodology. The methodology for the study was based on logical and historical methods, methods of the system-functional approach, methods of scientific abstraction, systematization, grouping, generalization and formalization, analysis and synthesis, economic and statistical methods, and method of questioning and peer review. Results. It is studied the essence and substantiated the expediency of the network approach use, it is outlined its capabilities and limitations, determined the effectiveness of network innovation structures, and developed the proposals for activating the innovative development of enterprises in new dimensions of the economic space based on the network approach. Practical implications. The proposed measures will promote the activation of innovative development for domestic enterprises, improve the quality of business chains, competitiveness and management structures, and provide the development of new market segments. Value/originality. The information background for the paper was the official data of the State Statistics Service of Ukraine, statistical and financial statements of enterprises, rating estimates by the international agency Bloomberg Rankings, analytical report “Global Innovation Index” (World Intellectual Property Organization, WIPO), the report of the European Innovation Scoreboard, scientific publications of domestic and foreign researchers, normative reference literature, analytical and logical generalizations and observations of authors, Internet information resources.

Evaluating the Provision of Information in the Financial Statements of Enterprises: Empirical Evidence From Vietnam

Evaluating the Provision of Information in the Financial Statements of Enterprises: Empirical Evidence From Vietnam

Uluslararası Finansal Raporlama Standartlarının Finansal Analize Etkisi: İMKB ye Yönelik Bir Araştırma

The information in financial statements should be correct, comprehensible and comparable enough, in terms of financial analysis, to fulfill the needs of financial information users. When different purposes of financial statement users are taken into consideration, Turkish Accounting Standards (TAS) and Turkish Financial Reporting Standards (TFRS) applications have important impacts on financial statements of enterprises and the analysis of these statements. In the actual study, the impact of International Financial Reporting Standards (IFRS) on the financial statement analysis of enterprises registered in Istanbul Stock Exchange (IMKB) was examined. The study, the effect of IFRS on the enterprises registered in IMKB was examined thorough a questionnaire. Factor analysis was made on the SPSS 19 statistics program.

The Small Business Audit: Problems Faced by Auditors in Selected SADC Countries

Auditing lends credibility to financial statements of enterprises. The Southern African Development Community (SADC) has committed itself to the promotion of Small Businesses in member countries. This implies that auditors will become more involved with Small Businesses as a result of their expected growth and expansion. However, small businesses are said to have characteristics that cause difficulties to their auditors. This study investigates the characteristics of small businesses in three SADC countries, problems auditors of small businesses in those countries face, frequency of occurrence of those problems, and their impact on auditing. The findings suggest that characteristics of small businesses in the selected SADC countries are similar to those of small businesses in other countries. Many of twenty‐three problems suggested to auditors rarely occurred, or occurred only occasionally. However, some problems are considered to have an important effect on auditing.

An analysis of problems encountered by auditors of small, medium and micro enterprises in Botswana

Auditing is acclaimed as lending credibility to financial statements of enterprises. However, small enterprises see little importance in maintaining proper books of accounts and preparing financial statements. The Republic of Botswana has committed itself to the promotion of small enterprises in Botswana. But, small enterprises are said to have characteristics that pose difficulties to auditors. This suggests auditors will become more involved with small enterprises as a result of the expected growth and expansion of small enterprises. This study sought to establish the characteristics of small enterprises in Botswana, problems small enterprise auditors in Botswana face, frequency of occurrence of the problems, and their impact on auditing.The findings suggest that characteristics of small enterprises in Botswana are the same as those of small enterprises in other countries. Most of twenty-seven problems suggested to auditors rarely occurred, or occurred only occasionally. However, these problems are significant, as they are considered to have an important effect on auditing.