Subject. This article examines the issue of transformation of the system and models of internal control as a guarantor of the economic security of organizations, regions and countries in the historical aspect and in relation to global changes in the world economy. Objectives. The article aims to determine further ways of development of internal control models and their conceptual foundations, taking into account the realities of the time. Methods. For the study, we used case and chronological analyses, and data systematization. Results. The article finds that internal control models are subject to continuous transformation, taking into account external economic influences and the development of automation tools. This unlocks the process synergies, in other words, more complex processes taking place in the economy and crisis phenomena that affect the conditions for the functioning of companies, make it necessary to look for internal reserves to ensure the continuity of the activities of an economic entity through constant control of risks and the search for options for their minimization. Conclusions and Relevance. The article concludes that the most popular models of internal control are those that are based on a process-oriented approach and continuous analysis of business processes of an economic entity, with further processing of the information obtained and transformation into a system-oriented model of internal control aimed at finding internal reserves. The results of the study can be used in the theory and practice of internal control, as well as for further scientific developments and practical application.
{"title":"Internal control models: Historical transformations and development prospects","authors":"M. Safonova, Sergei M. Reznichenko","doi":"10.24891/ia.26.11.1292","DOIUrl":"https://doi.org/10.24891/ia.26.11.1292","url":null,"abstract":"Subject. This article examines the issue of transformation of the system and models of internal control as a guarantor of the economic security of organizations, regions and countries in the historical aspect and in relation to global changes in the world economy. Objectives. The article aims to determine further ways of development of internal control models and their conceptual foundations, taking into account the realities of the time. Methods. For the study, we used case and chronological analyses, and data systematization. Results. The article finds that internal control models are subject to continuous transformation, taking into account external economic influences and the development of automation tools. This unlocks the process synergies, in other words, more complex processes taking place in the economy and crisis phenomena that affect the conditions for the functioning of companies, make it necessary to look for internal reserves to ensure the continuity of the activities of an economic entity through constant control of risks and the search for options for their minimization. Conclusions and Relevance. The article concludes that the most popular models of internal control are those that are based on a process-oriented approach and continuous analysis of business processes of an economic entity, with further processing of the information obtained and transformation into a system-oriented model of internal control aimed at finding internal reserves. The results of the study can be used in the theory and practice of internal control, as well as for further scientific developments and practical application.","PeriodicalId":507452,"journal":{"name":"International Accounting","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-11-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139269604","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Subject. This article examines inflation, its impact on the statements of financial position of companies of the Syrian Arab Republic, and the adjustment of their data taking into account consumer price indices in the context of hyperinflation, based on the provisions of IAS 29 – Financial Reporting in Hyperinflationary Economies. Objectives. The article aims to study the effects of inflation on Syrian companies, identify and solve the problems of compiling the Statement of Financial Position. Methods. For the study, I used observation, comparison, generalization, and interpretation. Scientific works and publications of scientists dealing with inflation and its impact on financial reporting, the Central Bureau of Statistics (Syria) (CBS) data on consumer price indices, provisions of IAS 29 on the formation of reporting by organizations whose functional currency is the currency of the hyperinflationary economy, are the methodological basis of the study. Results. The article describes the impact of inflation on the financial position of Syrian companies, and discusses the method of adjusting the financial statements of Syrian companies in the conditions of hyperinflation. It also compares the reporting data with indicators calculated on the basis of historical information. Conclusions and Relevance. The article confirms the hypothesis about the positive impact of the adoption of IAS 29 on the Statement of Financial Position preparation. If companies operate in an economy prone to hyperinflation, the applicability of IAS 29 is justified, moreover, this Standard will help improve the reliability of information presentation for making management decisions.
{"title":"Generation of financial position statements by Syrian companies in the context of hyperinflation. Part 2","authors":"Ammar Alsafadi","doi":"10.24891/ia.26.11.1267","DOIUrl":"https://doi.org/10.24891/ia.26.11.1267","url":null,"abstract":"Subject. This article examines inflation, its impact on the statements of financial position of companies of the Syrian Arab Republic, and the adjustment of their data taking into account consumer price indices in the context of hyperinflation, based on the provisions of IAS 29 – Financial Reporting in Hyperinflationary Economies. Objectives. The article aims to study the effects of inflation on Syrian companies, identify and solve the problems of compiling the Statement of Financial Position. Methods. For the study, I used observation, comparison, generalization, and interpretation. Scientific works and publications of scientists dealing with inflation and its impact on financial reporting, the Central Bureau of Statistics (Syria) (CBS) data on consumer price indices, provisions of IAS 29 on the formation of reporting by organizations whose functional currency is the currency of the hyperinflationary economy, are the methodological basis of the study. Results. The article describes the impact of inflation on the financial position of Syrian companies, and discusses the method of adjusting the financial statements of Syrian companies in the conditions of hyperinflation. It also compares the reporting data with indicators calculated on the basis of historical information. Conclusions and Relevance. The article confirms the hypothesis about the positive impact of the adoption of IAS 29 on the Statement of Financial Position preparation. If companies operate in an economy prone to hyperinflation, the applicability of IAS 29 is justified, moreover, this Standard will help improve the reliability of information presentation for making management decisions.","PeriodicalId":507452,"journal":{"name":"International Accounting","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-11-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139269462","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Subject. This article examines the industry practices of the regulation of deferred taxes in financial institutions. Objectives. The article aims to analyze the significance of deferred taxes for financial institutions (banks, insurance organizations) and determine the role of tax effects in regulatory capital. Methods. The research is speculative. For the study, I used the dialectical method of scientific knowledge, the method of collecting theoretical and regulatory information, the method of formalization, as well as analysis, synthesis, observation, and comparison. Results. The article finds that the preventive nature of the accounting revaluation of deferred tax assets controls the probability of their recovery at the expense of future taxable profits, and therefore they should be included in the regulatory capital. It determines that a full reversal of the active deferred tax position is possible if the accounting assets generate income with the profitability necessary to cover the deductible temporary differences in excess of the balance sheet valuation of the assets. Conclusions and Relevance. At present, the theoretical basis of deferred taxation continues to remain undisclosed. Deferred taxes are an artificial information construct that refines the measurement of assets at fair value. Deferred taxes alone are not able to generate cash flow, they reconcile the tax flow with the financial flow in relation to the fair value of assets in order to show how much value the assets will generate taking into account the current tax situation. The results of the study can be useful to practitioners in the field of deferred tax accounting and banking management, as well as analysts and researchers whose activities are focused on accounting, taxation, and other persons concerned who study the theoretical and financial aspects of deferred taxes.
{"title":"Deferred taxes in financial institutions: A review of empirical research and the role of tax effects in regulatory capital. Part 2","authors":"Andrei A. AKSENT'EV","doi":"10.24891/ia.26.11.1248","DOIUrl":"https://doi.org/10.24891/ia.26.11.1248","url":null,"abstract":"Subject. This article examines the industry practices of the regulation of deferred taxes in financial institutions. Objectives. The article aims to analyze the significance of deferred taxes for financial institutions (banks, insurance organizations) and determine the role of tax effects in regulatory capital. Methods. The research is speculative. For the study, I used the dialectical method of scientific knowledge, the method of collecting theoretical and regulatory information, the method of formalization, as well as analysis, synthesis, observation, and comparison. Results. The article finds that the preventive nature of the accounting revaluation of deferred tax assets controls the probability of their recovery at the expense of future taxable profits, and therefore they should be included in the regulatory capital. It determines that a full reversal of the active deferred tax position is possible if the accounting assets generate income with the profitability necessary to cover the deductible temporary differences in excess of the balance sheet valuation of the assets. Conclusions and Relevance. At present, the theoretical basis of deferred taxation continues to remain undisclosed. Deferred taxes are an artificial information construct that refines the measurement of assets at fair value. Deferred taxes alone are not able to generate cash flow, they reconcile the tax flow with the financial flow in relation to the fair value of assets in order to show how much value the assets will generate taking into account the current tax situation. The results of the study can be useful to practitioners in the field of deferred tax accounting and banking management, as well as analysts and researchers whose activities are focused on accounting, taxation, and other persons concerned who study the theoretical and financial aspects of deferred taxes.","PeriodicalId":507452,"journal":{"name":"International Accounting","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-11-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139269729","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Vladimir G. Shirobokov, N. E. Babicheva, Andrei S. Sozonov
Subject. This article discusses the transfer of secondary and main functions in the business processes of an agricultural organization to outsourcers, which can help the enterprise optimize the investment of resources and improve the efficiency of their use, as well as meet various requests of stakeholders in the field of accounting and analytical information on the activities of agribusiness entities. Objectives. The article aims to reveal the main trends in the structural restructuring of the accounting system of agricultural business and characterize the options for organizing the accounting and analytical system of the subjects of the agri-food complex on the basis of outsourcing. Methods. For the study, we used analysis, synthesis, comparison, observation. Results. The article describes the modern processes of accounting interaction between agribusiness and external users in the context of the specifics of agricultural production, reveals the essence of outsourcing, including accounting, and highlights various aspects of the outsourcer's work. Conclusions. The development of accounting in the context of the digitalization of the economy and the automation of accounting and analytical processes on the basis of outsourcing makes it possible to optimize the business processes of agricultural organizations and the relevance of information support for management decisions.
{"title":"Outsourcing-based development of accounting and analytical support for the agricultural organizations' activities","authors":"Vladimir G. Shirobokov, N. E. Babicheva, Andrei S. Sozonov","doi":"10.24891/ia.26.11.1226","DOIUrl":"https://doi.org/10.24891/ia.26.11.1226","url":null,"abstract":"Subject. This article discusses the transfer of secondary and main functions in the business processes of an agricultural organization to outsourcers, which can help the enterprise optimize the investment of resources and improve the efficiency of their use, as well as meet various requests of stakeholders in the field of accounting and analytical information on the activities of agribusiness entities. Objectives. The article aims to reveal the main trends in the structural restructuring of the accounting system of agricultural business and characterize the options for organizing the accounting and analytical system of the subjects of the agri-food complex on the basis of outsourcing. Methods. For the study, we used analysis, synthesis, comparison, observation. Results. The article describes the modern processes of accounting interaction between agribusiness and external users in the context of the specifics of agricultural production, reveals the essence of outsourcing, including accounting, and highlights various aspects of the outsourcer's work. Conclusions. The development of accounting in the context of the digitalization of the economy and the automation of accounting and analytical processes on the basis of outsourcing makes it possible to optimize the business processes of agricultural organizations and the relevance of information support for management decisions.","PeriodicalId":507452,"journal":{"name":"International Accounting","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-11-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139270462","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Subject. This article examines the basic postulates of accounting as the basis of deductive theory. It analyses two main directions in the development of accounting postulates, namely the methodological and ethical ones, and examines the types of postulates and their impact on the accounting theory and methodology. Objectives. The article aims to study the postulates of accounting as a basic structural element of deductive theory, identify the main approaches to establishing postulates, and reveal the influence of accounting postulates on the theory and methodology of modern accounting. Methods. For the study, I used combinations of analysis and synthesis, induction and deduction, and historical and logical research methods. Results. The article shows that postulates, along with concepts, are the basis of modern accounting theory and methodology. Postulates contain assumptions about the external environment of an economic entity, while theoretical concepts contain assumptions about the internal nature of an economic entity. The article identifies two main directions in the development of postulates in world practice, i.e. methodological and ethical directions. Relevance. The results obtained can be used to create the theory of accounting.
{"title":"The basic postulates of accounting. Part 2","authors":"S. Kolchugin","doi":"10.24891/ia.26.11.1200","DOIUrl":"https://doi.org/10.24891/ia.26.11.1200","url":null,"abstract":"Subject. This article examines the basic postulates of accounting as the basis of deductive theory. It analyses two main directions in the development of accounting postulates, namely the methodological and ethical ones, and examines the types of postulates and their impact on the accounting theory and methodology. Objectives. The article aims to study the postulates of accounting as a basic structural element of deductive theory, identify the main approaches to establishing postulates, and reveal the influence of accounting postulates on the theory and methodology of modern accounting. Methods. For the study, I used combinations of analysis and synthesis, induction and deduction, and historical and logical research methods. Results. The article shows that postulates, along with concepts, are the basis of modern accounting theory and methodology. Postulates contain assumptions about the external environment of an economic entity, while theoretical concepts contain assumptions about the internal nature of an economic entity. The article identifies two main directions in the development of postulates in world practice, i.e. methodological and ethical directions. Relevance. The results obtained can be used to create the theory of accounting.","PeriodicalId":507452,"journal":{"name":"International Accounting","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-11-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139267929","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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