Types Of Financial Statements Research Articles

The Importance of Financial Statements in Clinical Practice.

Financial statements provide vital information to department chiefs and hospital leadership alike. They reflect departmental performance and guide critical financial decisions for their teams. However, financial statements can be inherently difficult to read and interpret and require time and attention, understandably challenging for busy clinicians. Here, we aimed to demystify the several types of financial statements, including profit and loss statements, balance sheets, and cash flow statements, and explain what they reveal (and ignore). We describe key performance indicators based on these statements that are routinely used by hospital administrations. This work targets clinicians, team leaders, academic faculty, and administrators alike, recognizing that all of them share the same goals. Mastering the basics of financial statements and using the information within them creates a healthier clinical practice. In turn, it enhances provider satisfaction and enables the team to deliver patient care without financial anxiety. Understanding financial statements helps shared decision-making between clinicians and their administrators-strengthening partnerships that synergistically drive revenue, profitability, and growth.

The new generation of the FASBs Conceptual Framework

Purpose: The article presents and comments on the main structures, key approaches, and content of the new conceptual framework promulgated by the Financial Accounting Standards Board (FASB) in December 2021.Methodology/approach: Descriptive-analytical and content analysis.Findings: After presenting the modernization of FASBs conceptual approach towards financial reporting, the article presents the results of this modernization. It shows how the primary users have been redefined and it also describes the quality and constitutive elements of financial statements, how the components of these elements are measured, and the principles for shaping general purpose financial reporting. The article points out important differences between the FASB Framework 2021 and the IFRS/IASB Framework 2018 regarding the definition of a reporting entity, the types of financial statements, the number and type of elements of the financial statements, the definition of assets, and the quality of financial information in the notes to the financial statements.Practical implications: FASB modernized approach verifies and develops the conceptual frameworks as a financial reporting theory. It confirms their role as the basis for the standard-setting function, and interpreting standards and financial statements. In this way, the general level of distrust towards financial reporting relevancy and reliability may be reduced, increasing the opportunities to use the new FASB framework for a broadened and deepened interpretation of Polish financial reporting and auditing regulations and practice. As a result, it allows them to be better shaped and taught, and it provides a more informed direction for research.Originality/value: This paper is probably the first public presentation in Polish of the ideas of the new FASB conceptual framework for financial reporting.

Pelatihan Meningkatkan Pemahaman Pelaku UMKM Menyusun Laporan Keuangan Sederhana(UMKM Kompeten di Bekasi)

Abstract Purpose: Bookkeeping is one of the important factors that aim to develop MSMEs. Simple bookkeeping is quite important for the progress of their own business. One of the causes of MSMEs being difficult to develop is a poor accounting system. This is due to the government's lack of attention, and there are still many MSME actors who are reluctant to think about complicated things such as accounting and financial management issues. Currently, MSME actors are only limited to thinking about how to get profits so that their business or MSMEs can run and develop. To that end, the Indonesian Institute of Accountants (IAI) has prepared SAK-EMKM (Financial Accounting Standards for Micro, Small and Medium Entities) to facilitate MSMEs in compiling their financial reports. Method: This community service (PKM) was held online in March 2021 with the participants from business people in the convection and culinary fields. PKM is carried out by lecturers, students, alumni and staff. Result: The results of this PKM activity resulted that members of the KOMPETeN MSME group did not understand well about the types of financial statements and their benefits and how to prepare them, especially the preparation of income statements in accordance with generally accepted accounting standards. Conclusion: This community service (PKM) help the KOMPETeN MSME group to prepare simple financial statement.

ПОКРИТТЯ ІНФОРМАЦІЇ У ФІНАНСОВІЙ ЗВІТНОСТІ: ПРАКТИЧНИЙ ДОСВІД ЗАСТОСУВАННЯ МСБО І МСФЗ

Анотація. Інформаційні запити глобалізованого суспільства змушують суб’єктів господарювання формувати фінансову звітність, здатну задовольними вимоги всіх зацікавлених сторін. Мета статті — оцінити, яку інформацію суб’єкти господарювання розкривають у фінансовій звітності, складеній за МСБО і МСФЗ, та які колізії при цьому виникають. Теоретико-методологічні аспекти результатів діяльності вчених доводять значущість розкриття інформації у фінансовій звітності, складеній за МСФЗ. Разом з тим відкритим залишається питання розкриття інформації у фінансовій звітності, з урахуванням потреб поточної діяльності підприємств. З огляду на це постає потреба: дослідження забезпечення користувачів фінансової звітності інформацією, розкриття якої передбачають міжнародні стандарти; перевірка гіпотез щодо існування необхідності дослідження відмінностей видів фінансової звітності, формування і подання якої передбачають МСФЗ і МСБО, та перегляду довгострокового зобов’язання в разі його дострокового погашення. На основі аналізу встановлено, що інформацію, обов’язкову до розкриття у фінансовій звітності, обумовлює вид фінансової звітності. Проведене дослідження свідчить про наявності в МСФЗ прогалин у порядку складання та інформаційного наповнення комбінованої звітності. Запропоновано комбіновану фінансову звітність складати суб’єктам господарювання, які з тих чи інших причин не відповідають вимогам МСФЗ 10. Установлено, що важливою умовою достовірного відображення у Звіті про фінансовий стан інформації щодо довгострокового кредиту є необхідність проведення аналізу здатності підприємства його дострокового погашення, зокрема протягом року. Запропоновано розглядати частину довгострокового кредиту у формі платежів, які слід погасити протягом дванадцяти місяцівз дати складання звітності як поточне зобов’язання. Такий підхід потребує перекласифікувати наявний кредит із довгострокового в поточні зобов’язання, що призведе до подальних змін оцінок грошових потоків, коригування балансової вартості зобов’язань. Результати дослідження можуть бути використані практиками в різних галузях економіки при формуванні фінансової звітності за МСФЗ. Ключові слова: фінансова звітність, звітність за МСФЗ, фінансові результати, підприємство, стандарти, облік, МСФЗ, МСБО. Формул: 0; рис.: 1; табл.: 1; бібл.: 19.

The Implementation of SAK-EMKM at Randy Variasi Store in Sukamakmur Village of Marga Sakti Sebelat Sub-District in North Bengkulu

The purpose of this study is to determine the financial statements of randy variasi store in Sukamakmur Village, Marga Sakti Sebelat Sub-District, North Bengkulu, whether it includes Financial Accounting standards for micro, small, Medium Entites (SAK EMKM). This type of research is descriptive and comparative. The data analysis technique used is a qualitive method, namely the theoretical concept and description of the object of research as well as a comparison of the two presentations of the research results by collecting financial data made by the store. The research found that the store has not compiled and presented financial reports in accordance with the provisions of the financial accounting Standards for Micro Small and Medium Entites (SAK-EMKM), the store is supposed to presents 3 (three) types of financial statements, namely statements in practive, Randy Variasi Store only provides monthly cash statements and annual cash reports.

Financial Management.

This chapter deals with financial management in healthcare institutions. Topics which will be covered in this chapter include the function of financial management in a company and elements of financial management. We also discuss types of ownership and related organizational forms of healthcare institutions, which influence financial functions. We are trying to identify the general role and objectives of financial management in healthcare institutions. Having in mind the fact that financial management is based on the information provided through company's accounting we will give an overview of basic accounting concepts. They influence financial reporting, which is also covered in the chapter through a presentation of different types of financial statements and their content.

ANALISIS LAPORAN KEUANGAN BANK SYARI’AH TERHADAP KEPUTUSAN NASABAH MEMILIH BANK

Financial statements describe the financial condition and results of operations of a company or institution at a certain time or for a certain period of time. The types of financial statements commonly known are: balance sheet or income statement, or business results, cash flow statement, statement of changes in financial position. There are many errors and a lack of media information for analysts on financial reports so that financial reporting data can be manipulated and harm customers or consumers. This type of research is field research using a quantitative descriptive approach. From the research results, it can be seen that the consumer's decision to choose a bank in the high category is 3 people (11.11%) with a value of 52.12 and above. The sample that got the moderate category was 18 people (66.67%), namely the value ranged from 48.1 to 52.12 and the sample that got the low category was 6 people (22.22%), namely a value of 48.1 and below. So thus it can be concluded that the consumer's decision to choose a bank seen from its financial statements can be categorized as moderate.

Evaluasi Pengakuan Pendapatan Atas Perusahaan Real Estate Berdasarkan PSAK NO.44

The writing of this final project aims to evaluate the recognition of PT ABC revenue in 2018 whether it is in accordance with PSAK No.44. PT ABC's revenue recognition is performed using the Deposit Method. The evaluation was carried out on 2 types of financial statements, namely the income statement and the 2018 financial position report. Based on the evaluation of revenue recognition according to PSAK No.44, the results were obtained which stated that PT ABC had not yet recognized revenue because there were no customers who paid off their houses and buildings. still under construction, the company records money from customers as unearned revenue. According to PSAK No.44 all money originating from consumers is recognized as income received in advance as long as the buying and selling process has not been completed. So that the records made by the company are in accordance with PSAK No.44

English Financial Terms in Financial Statements and Their Translations in Indonesian

This study is about analyzing the translation of English financial terms into Indonesian. The aims of this study are to identify types of financial terms found in the English financial statements based on the basic principles and to analyze the translation techniques applied.
 This study applies qualitative research method. The qualitative research approach is applied as the qualitative data, English Financial statements and their translations in Indonesian is used as data source in this study. First, the types of financial terms will be analyzed by using financial theory proposed by Hermanson et all (2011) regarding four basic of financial statements. There were four types of financial terms specifically found in each category. Furthermore the analysis of data source in the source language and the target language conducted based on techniques of translation as proposed by Molina and Albir (2002), Larson (1988) to see how the techniques of translation are applied to render financial terms.
 There are lists of terms that could be classified into those four types of financial statements. There are seven translation techniques used by translator in translating English financial terms into Indonesian. The different types of financial terms have different scope that is different purposes and aims which are to be strived for, both in the ST and in the TT. Eventhough there are differences among types of financial types in terms of its specification, it is inevitably in translating two or more types of financial terms the translator used the same technique.
 
 Keywords : financial terms, financial statement, translation techniques

Construction of adaptive accounting system in expanding the spectrum of reporting to ensure the quality of information resources

The analysis of scientific literature concerning the issues of accounting reporting in the sphere of sustainable development was conducted. In the course of the research, the factors influencing the formation of organizational and methodological accounting regulations for the purposes of reporting sustainable development were identified, namely, the sectoral orientation of the enterprise’s economic activity, the organization of business processes, the organization of the management system, the organization of information subsystems of management. The procedure of interrelation of reporting of sustainable development with financial and other types of financial statements is considered. The proposals for approval of the company in the set of internal regulations and the introduction of changes to a number of existing ones, which should provide information that meets the following qualitative properties: completeness, authenticity comparability, clarity, reliability, materiality, timeliness, balance, integrity, confidentiality, competence. Such provisions lay in the construction of a general model of a new mechanism for disclosure of information through the reporting of sustainable development, which allows the formation of a quality information resource for stakeholders. The model for the formation and disclosure of information on the business activities of enterprises through the reporting mechanism of sustainable development involves a set of measures for the transformation of information management subsystems and, in fact, the system for making managerial decisions. This, in turn, has caused the justification of the directions of improving the system of internal regulations both in part and in working out new ones.

IMPROVING TRANSPARENCY AND ACCOUNTABILITY OF MSME FINANCIAL STATEMENTS BY USING ACCRUAL METHOD

<p>Many Micro, Small, and Medium Enterprises (MSMEs) are still carrying out a simple accounting record and have not implemented accrual basis method. It is expected that in the future all MSMEs can make more transparency and accountability report by using accrual method so it can assist MSMEs in applying credit to banks or other investors to increase the business capital. This study was conducted in Malang Regency, Batu City, and Malang City. This study used descriptive qualitative method. The data collection techniques were done by interview and documentation with sampling technique using purposive sampling and snowball sampling. The collected data will be analyzed by interactive analysis method including data reduction, data presentation, and data verification or interpretation. The results showed that the owners of SMEs in managing their finances use simple accounting by using accrual method so that the financial statements produced more accurate than if the owners of MSMEs use cash method. The owners of SMEs do not need to make complete financial statements, they may use three types of financial statements, namely: income statement, balance sheet, and cash flow statement. The income statement is used to find out how much the profit or loss of the MSMEs, the balance sheet is used to find out the assets, liabilities, equity, and cash flow statement is used to find out the changes occurring during the period of operating, investing, and financing activities. These three types of financial statements have already been used by MSME owners as one of the requirements to obtain credit from banks or other investors.</p>

Understanding Financial Statements in Clinical Practice: A Primer.

The purpose of this article is to describe the different types of financial statements and the information they contain regarding the current and long-term financial health of a business practice. These statements are essential to guiding strategic decision making for physicians and executives.

Penyusunan Laporan Keuangan Berbasis SAK ETAP Koperasi Intako Dan Respon Pihak Eksternal

This study aims to perform the preparation of financial statements in Cooperative INTAKO based SAK ETAP responses and identify external parties regarding the preparation of the financial statements based SAK ETAP. This type of research is qualitative. Data collection techniques with interviews, documentation, and triangulation. Test the validity of the data by using the test of credibility, transferability, and dependability. Engineering analysis using the data collection phase, data reduction, the data display, and conclusion. The results showed that the Cooperative INTAKO only prepare three financial statements, namely: Balance Sheet, Income Statement, and Notes to the Financial Statements and the report asled to the SAK ETAP, but there are a few post that are not yet in accordance with SAK ETAP. So the report prepared by the researchers is the Balance Sheet, Income Statement, Statement of Changes in Equity, Cash Flow Statement and Notes to Financial Statements. Supervisors Cooperative INTAKO response regarding the preparation of the financial statements based SAK ETAP is less familiar with the statement of changes inequityand cash flows. Response Diskoperindag and EMR Sidoarjo financial statements based on SAK ETAP is the format and types of financial statements that are prepared can be adjusted to the needs of the cooperative while it is in accordance with thelawon cooperatives and applicable accounting standards. Cooperative Response Putra Buana Waru financial statements based on SAK ETAP is too complicated if the cooperative must prepare complete financial statements for cooperatives prepare financial reports as needed and cooperative laws still give leeway regarding the preparation of the financial statements of the cooperative.

Book Reviews

Book Reviews

Corporate fraud handbook: prevention and detection

Preface. About the ACFE. 1. INTRODUCTION. Defining Occupational Fraud and Abuse. Research in Occupational Fraud and Abuse. The 2006 Report to the Nation on Occupational Fraud and Abuse. PART I:ASSET MISAPPROPRIATIONS. 2. INTRODUCTION TO ASSET MISAPPROPRIATIONS. Overview. Definition of Assets. How Asset Misappropriations Affect Books of Account. 3. SKIMMING. Case Study: Shy Doc Gave Good Face. Overview. Skimming Data from ACFE 2006 National Fraud Survey. Unrecorded Sales. Understated Sales and Receivables. Theft of Checks through the Mail. Case Study: Beverage Man Takes the Plunge. Short-term Skimming. Converting Stolen Checks. Concealing the Fraud. Detection. Prevention. 4. CASH LARCENY. Case Study: Bank Teller Gets Nabbed for Theft. Overview. Cash Larceny Data from ACFE 2006 National Fraud Survey. Incoming Cash. Cash Larceny from the Deposit. Case Study: The Ol'Fake Surprise Audit Gets 'em Every Time. Miscellaneous Larceny Schemes. Detection. Prevention. 5. CHECK TAMPERING. Case Study: A Wolf in Sheep's Clothing. Overview. Check Tampering Data from ACFE 2006 National Fraud Survey. Forged Maker Schemes. Intercepted Checks. Forged Endorsement Schemes. Altered Payee Schemes. Concealed Check Schemes. Authorized Maker Schemes. Concealment. Case Study: What Are Friends For? Detection. Prevention. 6. REGISTER DISBURSEMENT SCHEMES. Case Study: Demotion Sets Fraud in Motion. Overview. Register Disbursement Data from ACFE 2006 National Fraud Survey. False Refunds. Case Study: A Silent Crime. False Voids. Concealing Register Disbursements. Detection. Prevention. 7. BILLING SCHEMES. Case Study: Medical School Treats Fraud and Abuse. Overview. Billing Scheme Data from ACFE 2006 National Fraud Survey. Cash-Generating Schemes. Invoicing via Shell Companies. Invoicing via Nonaccomplice Vendors. Personal Purchases with Company Funds. Case Study: For This Magazine, Internal Fraud Proved Hard to Digest. Detection. Prevention. 8. PAYROLL AND EXPENSE REIMBURSEMENT SCHEMES. Case Study: Say Cheese! Overview. Payroll Scheme Data from ACFE 2006 National Fraud Survey. Payroll Schemes. Case Study: Frequent Flier's Fraud Crashes. Expense Reimbursement Data from ACFE 2006 National Fraud Survey. Expense Reimbursement Schemes. Detection of Payroll Schemes. Detection of Expense Reimbursement Schemes. Prevention of Payroll Schemes. Prevention of Expense Reimbursement Schemes. 9. INVENTORY AND OTHER ASSETS. Case Study: Chipping Away at High-Tech Theft. Overview: Noncash Misappropriation Data from ACFE 2006 National Fraud Survey. Misuse of Inventory and Other Assets. Theft of Inventory and Other Assets. Case Study: Hard Drives and Bad Luck. Concealment. Detection. Prevention. PART II: CORRUPTION. 10. BRIBERY. Case Study: Why Is This Furniture Falling Apart? Overview. Corruption Data from ACFE 2006 National Fraud Survey. Bribery Schemes. Case Study: Keep Your Eye on the Salesman. Something of Value. Economic Extortion. Illegal Gratuities. Detection. Prevention. 11. CONFLICTS OF INTEREST. Case Study: Working Double Duty. Overview. Purchases Schemes. Sales Schemes. Other Schemes. Case Study: A Parasite Farm. Detection. Prevention. PART III: FRAUDULENT STATEMENTS. 12. FRAUDULENT STATEMENTS. Introduction. Fraud in Financial Statements. Major Generally Accepted Accounting Principles. Responsibility for Financial Statements. Users of Financial Statements. Types of Financial Statements. The Sarbanes-Oxley Act. Financial Statement Fraud Data from ACFE 2006 National Fraud Survey. 13. FRAUDULENT FINANCIAL STATEMENT SCHEMES. Case Study: That Way Lies Madness. Methods of Financial Statement Fraud. Fictitious Revenues. Timing Differences. Case Study: The Importance of Timing. Concealed Liabilities and Expenses. Improper Disclosures. Improper Asset Valuation. Detection of Fraudulent Financial Statement Schemes. Prevention of Financial Statement Fraud. Case Study: All on the Surface. 14. OCCUPATIONAL FRAUD AND ABUSE: THE BIG PICTURE. Defining Abusive Conduct. Measuring the Level of Occupational Fraud and Abuse. Understanding Fraud Deterrence. The Corporate Sentencing Guidelines. The Ethical Connection. Concluding Thoughts. Appendix: Code of Business Ethics and Conduct. Bibliography. Index.

Accounting reforms in China: a transition from a state plan and control‐oriented system to capital market‐oriented system

Compares China‘s financial reporting systems before and after the reforms of 1993, which is seen as a dramatic turning point. Analyses the economic factors driving accounting reforms and examines in more detail the influence of the developing capital market and increasing foreign investment. Tabulates the differences between the format, contents and types of financial statements and disclosures and financial ratios, before and after reform. Gives examples of some remaining problems, summarizes the key features of the new system and urges Chinese accountants and policy makers to adjust Western principles and systems to the unique environment of China.

Church Stewardship Evaluation Information Requirements: A Pilot Study

There is a potential for financial abuse in church organizations. Large amounts of money are collected, performance is difficult to measure, and financial records and controls are often not as strong as in other not‐for‐profit organizations. Members/ donors of church organizations must be able to judge the financial stewardship of the organizations. Thus, financial statements for churches must include usable information and be in an understandable format. This study examines the appropriateness of two different types of financial statements: the GAAP format and a specialized church format.