ACCOUNTING AND FINANCIAL REPORTING AS A TOOL FOR TRANSPARENCY OF ECONOMIC ACTIVITY OF A BUSINESS ENTITY
This paper proves that accounting and financial reporting is one the main tools for effective economic decision-making and, therefore, for transparency of economic activity of a business entity. When generating accounting and financial reports it is necessary to follow three basic principles: fairne...
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| Format: | Article |
| Language: | Russian |
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Government of Russian Federation, Financial University
2019-01-01
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| Series: | Учёт. Анализ. Аудит |
| Subjects: | |
| Online Access: | https://accounting.fa.ru/jour/article/view/76 |
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| author | IGOR Mizikovsky ALEXANDER Bazhenov |
| author_facet | IGOR Mizikovsky ALEXANDER Bazhenov |
| author_sort | IGOR Mizikovsky |
| collection | DOAJ |
| description | This paper proves that accounting and financial reporting is one the main tools for effective economic decision-making and, therefore, for transparency of economic activity of a business entity. When generating accounting and financial reports it is necessary to follow three basic principles: fairness, completeness and neutrality of the information disclosed. Compilation of accounting and financial statements involve two stages: first, the preparation stage where special attention should be paid to the information component (accounting records, inventory take) to compile accounting and financial statements and second, the stage of the very generation of the accounting and financial statements. The objective of the latter stage is to follow all the obligatory accounting norms and regulations eliminating material misstatements. |
| format | Article |
| id | doaj-art-c72cc9ab43f749728a73958e01e2a41e |
| institution | DOAJ |
| issn | 2408-9303 2619-130X |
| language | Russian |
| publishDate | 2019-01-01 |
| publisher | Government of Russian Federation, Financial University |
| record_format | Article |
| series | Учёт. Анализ. Аудит |
| spelling | doaj-art-c72cc9ab43f749728a73958e01e2a41e2025-08-20T03:18:53ZrusGovernment of Russian Federation, Financial UniversityУчёт. Анализ. Аудит2408-93032619-130X2019-01-0102697710.26794/2408-9303-2016--2-69-7776ACCOUNTING AND FINANCIAL REPORTING AS A TOOL FOR TRANSPARENCY OF ECONOMIC ACTIVITY OF A BUSINESS ENTITYIGOR Mizikovsky0ALEXANDER Bazhenov1Lobachevsky State University of Nizhny NovgorodLobachevsky State University of Nizhny NovgorodThis paper proves that accounting and financial reporting is one the main tools for effective economic decision-making and, therefore, for transparency of economic activity of a business entity. When generating accounting and financial reports it is necessary to follow three basic principles: fairness, completeness and neutrality of the information disclosed. Compilation of accounting and financial statements involve two stages: first, the preparation stage where special attention should be paid to the information component (accounting records, inventory take) to compile accounting and financial statements and second, the stage of the very generation of the accounting and financial statements. The objective of the latter stage is to follow all the obligatory accounting norms and regulations eliminating material misstatements.https://accounting.fa.ru/jour/article/view/76бухгалтерский учетбухгалтерская (финансовая) отчетностьдостоверностьполнотанейтральностьнормативный актрегистрыинвентаризацияфинансовый результатинформацияaccountingaccounting and financial statementsaccuracycompletenessneutralityregulationregistersinventory takefinancial resultinformation |
| spellingShingle | IGOR Mizikovsky ALEXANDER Bazhenov ACCOUNTING AND FINANCIAL REPORTING AS A TOOL FOR TRANSPARENCY OF ECONOMIC ACTIVITY OF A BUSINESS ENTITY Учёт. Анализ. Аудит бухгалтерский учет бухгалтерская (финансовая) отчетность достоверность полнота нейтральность нормативный акт регистры инвентаризация финансовый результат информация accounting accounting and financial statements accuracy completeness neutrality regulation registers inventory take financial result information |
| title | ACCOUNTING AND FINANCIAL REPORTING AS A TOOL FOR TRANSPARENCY OF ECONOMIC ACTIVITY OF A BUSINESS ENTITY |
| title_full | ACCOUNTING AND FINANCIAL REPORTING AS A TOOL FOR TRANSPARENCY OF ECONOMIC ACTIVITY OF A BUSINESS ENTITY |
| title_fullStr | ACCOUNTING AND FINANCIAL REPORTING AS A TOOL FOR TRANSPARENCY OF ECONOMIC ACTIVITY OF A BUSINESS ENTITY |
| title_full_unstemmed | ACCOUNTING AND FINANCIAL REPORTING AS A TOOL FOR TRANSPARENCY OF ECONOMIC ACTIVITY OF A BUSINESS ENTITY |
| title_short | ACCOUNTING AND FINANCIAL REPORTING AS A TOOL FOR TRANSPARENCY OF ECONOMIC ACTIVITY OF A BUSINESS ENTITY |
| title_sort | accounting and financial reporting as a tool for transparency of economic activity of a business entity |
| topic | бухгалтерский учет бухгалтерская (финансовая) отчетность достоверность полнота нейтральность нормативный акт регистры инвентаризация финансовый результат информация accounting accounting and financial statements accuracy completeness neutrality regulation registers inventory take financial result information |
| url | https://accounting.fa.ru/jour/article/view/76 |
| work_keys_str_mv | AT igormizikovsky accountingandfinancialreportingasatoolfortransparencyofeconomicactivityofabusinessentity AT alexanderbazhenov accountingandfinancialreportingasatoolfortransparencyofeconomicactivityofabusinessentity |