METHODICAL AND PRACTICAL ASPECTS OF FORMATION OF FINANCIAL RESULTS’ MANAGEMENT ACCOUNTS
DOI:
https://doi.org/10.32461/2226-3209.3.2018.171083Keywords:
management reporting, financial result, investors, managers.Abstract
Abstract.Ths The article is developed to investigate formation of management financial reporting. In the
course of the research, information needs of investors and top managers were identified. These needs assess the financial result of the company in terms of sustainable development and the possibility of achieving strategic goals. In particular, the most important criteria for investors are: stability, prospects for development, directions of use of profit; for managers the main criteria are: the implementation of plans, the results of current management, deviations. Based on this, the authors developed recommendations for the preparation of a set of management reports. The basis of their formation lies in traditional and non - traditional principles of reporting-it is the presentation of indicators in the dynamics, the disclosure of the causes of deviations, the definition of expected improvements, the analysis of cause-and-effect relationships. The developed forms of reports are focused on the formation of transparent information and the elimination of information asymmetry..
Keywords: management reporting, financial result, investors, managers.
References
Al-Sakini, S., Al-Awawdeh, H., 2015. The Effect of Accounting Conservatism and its Impacts on the fair Value of the Corporation: an empirical study on Jordanian Public Joint-stock Industrial Companies. International Journal of Business and Social Science, 7: 229-241.
Armstrong, C.S., Guay, W.R., Weber, J.P., 2010. The Role of Information and Financial Reporting in Corporate Governance and Debt Contracting. Journal of Accounting and Economics, 2-3: 179-234.
Basu, S., 1997. The Conservatism Principle and the Asymmetric Timeliness of Earnings. Journal of Accounting & Economics, 24: 3-37.
Dascher, P.E., Malcolm, R.E., 1970. A note on income smoothing in the chemical industry. Journal of Accounting Research: 253-259.
DePree, C.M., Grant, C.T., 1999. Earnings management and ethical decision making: Choices in accounting for security investments. Issues in Accounting Education, 14 (4): 613-640.
Fry, T.D., Fiedler, K.D., 2014. A Tutorial on Managerial Cost Accounting: Year-End Reporting. Production and inventory management journal, 1: 74-90.
Kovalevskaya, A.V., 2017. Development of the model of accounting of income from ordinary activities of the commercial organization of the production sphere Scientific result. Economic study, 3: 39-46 (In Russian).
Kuznetsov, N. V.. 2011. Evaluation of the efficiency of activities of open joint stock companies on the basis of indicators of business value. Management of economic systems, 10. (In Russian).
Mattis, N., Ponsar, J. P., 2002. Management system aimed at creating value and corporate profit centers. Economic strategies, 5 (19): 92-99.
Mora, J. A. M. (2016). Interdisciplinary Teaching of Differential Equations for Life Sciences: Modeling The Cell Growth. International Journal of Engineering, Science and Mathematics, 5(1), 210-218.
Downloads
Issue
Section
License
Authors who publish with this journal agree to the following terms:
1. Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution License that allows others to share the work with an acknowledgement of the work's authorship and initial publication in this journal.
2. Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgement of its initial publication in this journal.
3. Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work (See The Effect of Open Access).
