Financial Statements Of Organization Research Articles

Formation of tools for detecting and preventing falsification of financial statements

The scientific article is devoted to one of the actual and significant problems of the accounting and reporting system - falsification of reports. The financial statements of companies, as the main recognized information channel of interaction between business and society, are not perfect at all. It is determined that financial statements are intended primarily for external users who, based on the results of the analysis, make decisions on certain management issues. Information from external reporting allows not only to determine the level of financial well-being of an organization, but also to describe the dynamics of its activities, identify trends and predict the development of financial situations in the future. The authors note that the quality of management decisions made by external users primarily depends on the reliability and reliability of the information disclosed in the financial statements of organizations, that is, on the degree of transparency. Thus, in today's conditions, the reliability of financial reports as the main information source of the company's activities becomes of particular importance, falsification is a real risk of loss of the quality of reports. The article examines the economic nature of falsification of financial statements, considers ways to detect falsification of financial statements and offers tools for detecting and preventing falsification of financial statements of a company.

The Philosophy of Assets Fair Value Presentation in Financial Statements

Publication of companies’ financial statements is carried out in accordance with the requirements of International Accounting Standards, pursuit the aim of providing the reporting users with reliable decision-making information. The subject of research is scope of assets fair value philosophy, based on generally accepted principles in International Financial Reporting Standards (IFRS), in particular, on prudence approach The purpose of article is to give suggestions for improvement of assets in financial statements of organizations, taking into account the interests of the users of the report, avoiding as much as possible the overestimation of the disposed assets or the underestimation of the assumed liabilities. In addition, financial reporting standards also require the presentation of assets at fair value, which is somewhat contrary to the principle of prudence. Philosophical issues of asset valuation are discussed in the article, analyzing the range of valuation approaches of assets at fair value in the financial statements published by organizations. The results of the research are proposals for new philosophical approaches to the fair value assessment of the organization’s assets, according to which the current assets should be presented by market value, and the philosophy of valuation of non-current assets is to be based on the prudence concept.

Tools of the digital Economy as Methods to Ensure the reliability of financial Statements

The objects of the study are accounting and financial reporting, and the tasks are to identify the impact features of digitalization on these elements of the economic activity of organizations. Nowadays, accounting is at the stage of the gradual development and implementation of new digital technologies. At the same time, the creation of a national accounting system, which will collect indicators characterizing the state of the internal socio-economic processes of the organization, is largely determined by the digitalization development of the economy. Issues related to the reliability of accounting and financial statements are the basis for making management decisions. The research considered these issues with a link to the most pressing problematic topics related to the use of digital data in the processing of reporting information. It will significantly reduce the number of allowed errorsalong with ensuring the reliability, verifiability and timeliness of the generated indicators. The methodological basis of the study was the system-functional and economic-statistical analysis, comparison, elements of the accounting method. The results of the work can be used by practitioners in the formation of accounting and financial statements of organizations.

Problems of risk disclosure in the financial statements of organizations and ways to solve them

The importance of disclosing information about risks in the financial statements of organizations (including healthcare organizations) cannot be overestimated. At the same time, at present there is no separate Federal Accounting Standard (FAS) or Accounting Regulation (AR) containing the rules for disclosing this information. The main regulations in this area are currently presented in a document with the status “Information of the Ministry of Finance of the Russian Federation” under the number PS-9/2012 (hereinafter IM No. PS-9/2012). An analysis of the requirements of this document, as well as the practice of disclosing information about risks in financial statements in accordance with this document, allows us to conclude that at present there are a number of theoretical, methodological and practical problems in the field of disclosure of the above information. These problems are analyzed in this article. The following methods were used in the research: analysis and synthesis, grouping method, comparison, analogy method, systematic approach, logical approach. As a result of the research, the article identifies the main groups of problems in the above area and offers suggestions for their solution. The results presented in the article may be useful to a wide range of readers interested in modern problems of Russian accounting, in particular, disclosure of information about risks in the financial statements of organizations (including healthcare organizations).

Рекомендации аудиторам и их влияние на бухгалтерский учет

Th e article discusses the issues of accounting and the formation of accounting (fi nancial) statements, in relation to which the Ministry of Finance of the Russian Federation has developed and published Recommendations to audit organizations, individual auditors, auditors on auditing the annual fi nancial statements of organizations for 2021. Th e recommendations contain the position of the Ministry of Finance of Russia, as the accounting regulator, on more than a dozen topical accounting issues, the most important of which are considered on examples in this article.

The importance of internal control for agricultural organizations and ways to improve it

The article reveals the important role and importance of internal control for agricultural organizations, its purpose and objectives are given. It is noted that the internal control system is a set of methods and techniques that ensure compliance with regulatory legal acts, the safety of assets, the timely reflection of business transactions in the accounting, prevention of abuse by staff, and the formation of reliable financial statements. The higher the level of organization of internal control, the lower the risk of material distortion of the data in the financial statements of agricultural organizations. At this stage of development, internal control is not only a verification of the accuracy of accounting, but also is a control function of management. In the process of its implementation, the risks of the organization and their consequences are assessed. The article focuses on the risks that distort the financial statements of the organization, and also provides ways to minimize them.

THE IDENTIFICATION AND SYSTEMATIZATION OF FINANCIAL ASSETS AND LIABILITIES, EXPOSED TO FINANCIAL RISKS, ON THE EXAMPLE OF THE PHARMACEUTICAL INDUSTRY

The best methods of identification of the financial assets and liabilities with highest risk concentration on the example of pharmaceutical companies have been considered. It is well known, that significant risks are subject to disclosure in financial statements of organization, because they can influence management decisions. It is important for professionals to understand how to correctly identify and assess the risks, influencing the financial statements, as well as to form a list of assets and liabilities, that are more affected by them. The above questions can be answered by the approaches presented in the article to the identification, assessment and systematization of risks, their impact on the financial statements, as well as the conclusions, formulated by the authors as a result of the research.

Ensuring the security of information systems of organizations and regulating activities in the field of their protection

The article describes the fact that in the modern world one of the global problems for companies have become cyberattacks, representing a serious danger to their activities. As the most important directions of solving this problem is called the need for the development and approval of the companies of strategy of protection of information systems, including antivirus software. A great contribution to the solution of this problem was made by the law on combating violations of financial and operational discipline by the heads of companies trading on the stock exchanges, called SOX, adopted in the United States in 2002. Research and practical experience with a large number of projects requiring SOX compliance show that information technology is becoming a priority tool for ensuring the reliability of the internal control system, especially over the preparation of financial statements of organizations. The use of the software quickly recoups the cost of its installation by improving the efficiency of control, while the refusal to automate the processes and procedures of control results in unforeseen costs and risks. Therefore, organizations-participants of foreign economic activity, wishing to comply with the requirements of the SOX law, it is necessary to carry out a preliminary assessment of ensuring a sufficiently high degree of integration of the financial reporting process with the process of its phased control. Integration of financial statements with the internal control system makes it possible to actively display the current state and efficiency of the internal control system in relation to the reporting, creating conditions for monitoring potential risks and analysis of information on financial results, as well as to automate the process of preventing unauthorized records and other deviations. In the light of the considered issue, one of the most important components of the documents attached to the annual financial statements and the recognition of the company's responsibility for the accuracy of its information, is the report on the results of the audit of the effectiveness of internal control over the preparation of reports.

Desafíos y responsabilidades de la profesión contable frente a la contabilidad ambiental

El presente artículo de tipo descriptivo – reflexivo, pretende revisar algunos elementos que constituyen un desafío para el profesional de la contaduría pública en el área ambiental y, proponer lineamientos que se deben seguir para implementar un Sistema de Información Contable Ambiental. Se discurre sobre la contabilidad ambiental nacional y su sistema de cuentas que hacen parte del agregado de los países del mundo. Este sistema es utilizado a partir la firma de la Cumbre de Rio en 2009 bajo unas coordenadas no obligantes. A nivel empresarial, se exponen complejidades debido a las dificultades para valuar y medir técnicamente las partidas que deben incorporarse en los estados financieros de las organizaciones. Así, la profesión contable y el Contador Público deben asumir con celeridad, un reto para implementar un Sistema de Información Contable y de Control que garantice incorporar estas partidas sobre las afectaciones ambientales favorables y desfavorables en el sistema de información empresarial, promoviendo instrumentos que ayuden a la toma decisiones, así como la proyección y permanencia de las organizaciones en el mercado.

Evaluating human assets in organizations: a proposal for a literature review

Human Capital (HC) has been recognized as a decisive fator in the performance of organizations, influencing the results obtained and even the market value of organizations. However, how this intangible asset can be demonstrated and highlighted, remains open to discussion. If highlighted in the financial statements of organizations, one could safely and accurately say that people are an organization’s greatest asset. Furthermore, the need to measure Intellectual Capital (IC) and HC has been profusely discussed. If, on the one hand, a consensus on the acceptability of the measurement has not been difficult to achieve, on the other a consensus about what and how to measure it is not a straightforward task. We intend to discuss how to measure/evaluate HC, considering the needs of the financial accounting system, the need to manage people more effectively, and the need for a proper evaluation and appreciation of organizations in the market. Thus, this article defines our field of research and proposes a revision of some literature on the field of our investigation.

Impact of accounting on human behaviour: implications for organizations and society

Accounting information aids decision-making in the process of making a choice between or among alternative courses of action. The roles of accounting in this process cannot be underestimated. These can be substantiated by the reactions of investors to the financial statements of Organizations. Our reaction to an organization whose financial statement shows that it has been doing very well for the past five years or so is that we could invest in it if such an organization goes into the Capital Market. On the other hand, if the financial statement of an organization shows that the organization has not been doing well, we are more likely to be unhappy if we have invested our money in such an organization. Also, the news of a new pay package in an organization often leads to excitement, high morale and increase in productivity among employees even in anticipation of the new pay package. These suggest that Accounting information could create negative, positive or neutral behaviour. Therefore, in nature, Accounting information enables us to make up our minds while evaluating the importance of an organization. The potential of Accounting in influencing behaviour suggests that Accounting is an integral part of Behavioural Science. The significance of this to management is that accounting information is readily being used in and outside organizations. How accounting information is packaged should fulfil the professional principles continuously being established in the profession but at the same time should be intelligible to other professionals and the lay men in the lager society, who rely on accounting information for investment decisions.