№ 9/2021

Fìnansi Ukr. 2021 (9): 99–116https://doi.org/10.33763/finukr2021.09.099

ACCOUNTING AND AUDIT

LOVINSKA Ljudmyla ¹, MAMYSHEV Andrii ²

¹Kyiv National Economic University named after Vadym Hetman
OrcID ID : https://orcid.org/0000-0001-5427-7185
²SESE “The Academy of Financial Management”
OrcID ID : https://orcid.org/0000-0003-3143-5675

Tasks of state-owned enterprises and their impact on accounting and reporting information

The purpose of the article is to establish ways to implement the tasks of public sector entities in ensuring responsibility and accountability of state-owned enterprises, taking into account market conditions and the transition to international financial reporting standards (IFRS) in the context of determining the place and role of accounting information. The research methodology is based on the application of dialectical and systematic approaches to scientific knowledge and general theoretical understanding of the problems of functional and accounting-analytical support for the management of state-owned enterprises in the application of IFRS. The results of the analysis of modern tendencies of the organization and functioning of the state-owned enterprises are covered. The importance of public sector entities in the global dimension, as well as the features of the organization, challenges and tasks of state-owned enterprises in market conditions are shown. It is determined that the main tasks to be performed by state-owned enterprises are : provision of certain state services and specific goods, support of the national economy and strategic interests, doing business in a natural monopoly, as well as support of social goals of the state. The specificity of the tasks of state-owned enterprises and their important place in the state economy through the role of a special agent of the government for the implementation of state policy in a particular area is substantiated. A new look at these processes involves increasing the transparency and accountability of businesses, which is closely linked to improving the quality of accounting data on the activities of state-owned enterprises. Based on the results of the study, the algorithm of decisions on determining, assessing and reviewing the value of a state-owned enterprise based on the expression of its social, economic, environmental and tax impacts has been improved. There is a problem of harmonization of methodological support for the preparation of aggregate reports of the general government sector (GGS), which arises due to the existing differences between different sets of standards for financial reporting of GGS sector entities (International Financial Reporting Standards (IFRS) - for public corporations and National provisions (standards) of accounting in the public sector (NP(S)APS) - for all other entities of the GGS sector).

Keywords:economics policy, public administration, state-owned enterprise, accounting, financial reporting, accountability, international standards

JEL: H83, L32, M48

Lovinska L. . Tasks of state-owned enterprises and their impact on accounting and reporting information / L. . Lovinska, A. . MAMYSHEV // Фінанси України. - 2021. - № 9. - C. 99-116.

Article original in Ukrainian (pp. 99 - 116)

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