THE ANALYSIS OF THE FINANCIAL RESULT - TOOL FOR EVALUATION OF THE APPLICATION OF SPECIFIC ACCOUNTING DECISIONS IN THE NON-FINANCIAL SECTOR ENTERPRISE

Abstract

The current and periodic information created in the accounting allows to apply different types of analyzes, including economic and financial accounting. The management of a company in the non-financial sector should strive to develop its activities by increasing the financial results and attractiveness of its customers, following modern trends, including in their dynamic manifestation. Thus, accounting as a separate system in the enterprise is associated with the system of its management, which is in line with the application of the principles of a systematic approach. The main management function of the management team is to analyze the information from transactions and events that are reflected in the financial statements. To be able to make full use of the available information, it is necessary to select, group and compare it with the specific information contained in the current and periodic reporting. Thus, measures can be proposed to optimize the financial condition of the enterprise, including usage of specific accounting solutions, examined through the tools of financial and accounting analysis. The aim of this report is to explore opportunities for practical application of specific accounting decisions when compiling financial statements of non-financial sector and to analyze their impact on the financial result of the establishment of selected financial accounting measures, in compliance with the national legislation and international accounting standards.