№ 10/2016

Fìnansi Ukr. 2016 (10): 39–

FINANCIAL AND ECONOMIC REGULATION

RIAZANOVA Nadiia ¹, FEDOSOV Viktor ²

¹Kyiv National Economic University named after Vadym Hetman
OrcID ID : https://orcid.org/0000-0003-1419-1189
²SHEE “Kyiv National Economic University named after Vadym Hetman”
OrcID ID : https://orcid.org/0000-0003-1092-4218

Financial accounting as information infrastructure subsystem of modern microeconomics

This article continues the series of publications dedicated to the disclosure of essence, place and role of financial accounting in the information economy. Financial accounting is important to the economy of Ukraine and is new to financial science in terms of the theory and pragmatics of the financial accounting institute. De-facto financial accounting existed in the twentieth century, but only with the onset of the XXI century the stage of its defining as a systematic operation and designation as the term “institution” began. Having all financial relations of society as the subject of its operation, the institution of financial accounting segmented into microeconomics and macroeconomics, that overlap and operate in a close relationship. This article considers financial accounting of microeconomics, its place and role in the activity of corporations. The subject of the microeconomics financial accounting is public (opened) information concerning financial relationship occurred at the level of households, corporations, industries and specific markets. Information is considered to be open (without limited access) if a society does not classify it as confidential or official secret. Financial accounting at the microeconomic level is the information subsystem of the microeconomic financial infrastructure. It is primarily aimed at providing financial management with useful information for effective decision-making. In this context, financial accounting institute acts as a form of a systemic activity on identification, collection, analytical processing and provision of relevant information products and services on finance of individual households and corporations, industries and markets. Thereby, financial accounting is one of manifestations of the objective information function of corporate finance. Financial accounting of microeconomics, having the financial relations of corporations, households, industries and markets as its subject, closely interacts with financial accounting at the macroeconomic level. In this regard, essential characteristics of financial accounting of microeconomics are singled out, and the practice of its use is investigated. The role of financial accounting of microeconomics in the management of corporations in designing and realizing its efficient business decisions is disclosed. The use of tools of financial accounting of microeconomics by corporation’s management for its positioning on a market through informing market`s members about the corporation and its products, promoting market value of assets and equity is investigated. The authors show the irreplaceability of financial accounting of microeconomics in overcoming information asymmetry, in solving problems of the absence or insufficient transparency of corporate finance and in combating shadow economy finances. The paper focuses on increasing the attractiveness of financial accounting of microeconomics as an independent business activity.

Keywords:financial accounting of microeconomics, institute of financial accounting, financial accounting, corporate finance, information function of corporate finance, financial information, information asymmetry of finance.

JEL: D80, M41, M42.

RIAZANOVA N. . Financial accounting as information infrastructure subsystem of modern microeconomics / N. . RIAZANOVA, V. . Fedosov // Фінанси України. - 2016. - № 10. - C. 39-.

Article original in Ukrainian (pp. 39 - 64)

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