№ 12/2021

Fìnansi Ukr. 2021 (12): 34–51https://doi.org/10.33763/finukr2021.12.034

SCIENTIFIC SUPPORT OF INSTITUTIONAL REFORMS

GNYLYTSKA Larysa ¹, PARASIY-VERGUNENKO Iryna ², BEZVERKHIY Kostiantyn ³

¹SHEE “Kyiv National Economic University named after Vadym Hetman”
OrcID ID : https://orcid.org/0000-0003-2113-2064
²Kyiv National University of Trade and Economics
OrcID ID : https://orcid.org/0000-0001-6506-6965
³Kyiv National University of Trade and Economics
OrcID ID : https://orcid.org/0000-0001-8785-1147

Risk-oriented concept of accounting of state-owned enterprises under IFRS

The new rise of the scientific and technological revolution of the 80s of the twentieth century necessitated a change in the priorities of cost control in the production sphere to technological business processes, and in the financial sphere - from generalized indicators of liquidity, solvency and others to business processes ( financial activities are risks, reserves, hedging, insurance, etc). To manage these business processes, they must be planned (budgeted), accounted for, analyzed, controlled and regulated. The business process is a complex object of management, and, consequently, accounting, without which it is impossible to provide this management. The creation of complex accounting objects has necessitated the use of engineering approaches, methods, and techniques. Due to this, this new direction of accounting development is called accounting engineering. For these reasons, the current rules, procedures and methods of organizing accounting policy, a modern Ukrainian enterprise, require further expansion and improvement. In operational production activities in management accounting it is advisable to introduce a classification of business processes as objects of management and accounting, which include: 1) planning (budgeting), 2) accounting for direct cost, 3) analysis, 4 ) new registers of analytical accounting. Financial activities can include: classification of business processes, 2) a new work plan of consolidated mega-accounts and the economic content of the current balance sheet, 3) new monitoring transformation accounting registers - “derivative balance sheets” for specific purposes (“on risk activities” - actual and forecast; probability of bankruptcy, opportunities for innovation, etc.). These innovations require the expansion and addition of the following functions of the current accounting policy, in part: 1) principles - the principle of forecasting; probability of bankruptcy; 2) management methods - “brainstorming”; 3) organizational - outsourcing, “cloud” technologies; 4) procedures - the procedure for documenting and document management and accounting for complex business processes.

Keywords:accounting policy, mechanisms and tools of accounting engineering, objects, principles, procedures, methods, ways, receptions

JEL: M41, M48

GNYLYTSKA L. . Risk-oriented concept of accounting of state-owned enterprises under IFRS / L. GNYLYTSKA, I. . Parasiy-Vergunenko, K. Bezverkhiy // Фінанси України. - 2021. - № 12. - C. 34-51.

Article original in Ukrainian (pp. 34 - 51)

Download

Downloads :93

1. Gasanov, S. (2017). Fiscal risks and fiscal targeting in the system of public finance management under institutional uncertainty. RFI Scientific Papers, 2, 5–24 [in Ukrainian]. doi.org/10.33763/npndfi2017.02.005
2. Lunina, I. (2017). Risks of the long-term solvency of the state. Finance of Ukraine, 4, 7–20 [in Ukrainian]. doi.org/10.33763/finukr2017.04.007
3. Gasanov, S., & Kudrjashov, V. (2015). The budget deficit restrictions in conditions of fiscal risks. RFI Scientific Papers, 3, 5–14. Retrieved from npndfi.org.ua/?page_id=723&aid=781 [in Ukrainian].
4. Ivanytska, O., & Koshchuk, T. (2017). Fiscal risks management related to activities of state enterprises in Ukraine. Finance of Ukraine, 2, 64–80 [in Ukrainian]. doi.org/10.33763/finukr2017.02.064
5. Cabinet of Ministers of Ukraine. (2018). About approval of the Methodology of assessment of fiscal risks connected with activity of subjects of managing of public sector of economy (Decree No. 7, January 11). Retrieved from zakon.rada.gov.ua/laws/show/7-2018-%D0%BF#Text [in Ukrainian].
6. Gnylytska, L. V. (2012). Accounting and analytical support of economic security of the enterprise. Kyiv: KNEU [in Ukrainian].
7. Atamas, P., Atamas, O., & Kramarenko, G. (2016). Role of accounting in enterprise risk management. Academy review, 1, 60–69. Retrieved from acadrev.duan.edu.ua/images/PDF/2016/1/abstracts2016-1/abstracts.pdf#page=1 [in Ukrainian].
8. Vyhivska, I. M., Hrabchuk, I. L., & Zelenina, O. O. (2015). Accounting and analytical support of enterprise risk management. Problems of theory and methodology of accounting, control and analysis, 1 (31), 70–79 [in Ukrainian] .
9. Gnilitska, L. V. (2014). Information support of business risk management: accounting aspect. Economic innovations, 57, 88–100 [in Ukrainian].
10. Derun, I. (2016). Risk identification in the company’s accounting system. Economic Annals-XXI, 159 (5-6), 97–100 [in Ukrainian]. doi.org/10.21003/ea.V159-21
11. Committee on International Operations, House of Representatives. (2005, July 28). China’s Influence in Africa. Hearing before the Sub-Committee on Africa, Global Rights and International Relations (109 th Congress, Ist Session), 109-74.
12. Verkhovna Rada of Ukraine. (2019). On Amendments to the Constitution of Ukraine (on the Strategic Course of the State to Acquire Full Membership of Ukraine in the European Union and in the North Atlantic Treaty Organization) on Improving Certain Provisions (Act No. 2680-VIII, February 7). Retrieved from zakon.rada.gov.ua /laws/ show/ 2680-19#n2 [in Ukrainian].
13. Cabinet of Ministers of Ukraine. (2018). On approval of the Strategy for modernization of the accounting and financial reporting system in the public sector for the period up to 2025 (Decree No. 437-r, June 20). Retrieved from zakon.rada.gov.ua/laws/show/437-2018-%D1%80#Text [in Ukrainian].
14. International Accounting Standards Board. (2007). Presentation of Financial Statements (IAS 1). Retrieved from mof.gov.ua/storage/files/IAS-01ukr19.pdf [in Ukrainian].
15. International Accounting Standards Board. (2003). Financial Instruments: Presentation (IAS 32). Retrieved from search.ligazakon.ua/l_doc2. nsf/link1/MU17047.html [in Ukrainian].
16. IFRS Foundation. (2021). Operating Segments (IFES 8). Retrieved from mof.gov.ua/storage/files/IFRS-08_ukr_2016.pdf [in Ukrainian].
17 International Accounting Standards Board. (2009). Related Party Disclosures (IAS 24). Retrieved from mof.gov.ua/storage/files/IAS-24_ukr_2016.pdf [in Ukrainian].
18. International Accounting Standards Board. (1998). Provisions, Contingent Liabilities and Contingent Assets (IAS 37). Retrieved from mof.gov.ua/storage/files/IAS%2037_ukr_2018.pdf [in Ukrainian].
19. IFRS Foundation. (2021). Non-current Assets Held for Sale and Discontinued Operations (IFRS 5). Retrieved from mof.gov.ua/storage/files/IFRS-05ukr_2018.pdf [in Ukrainian].
20. IFRS Foundation. (2021). Financial Instruments: Disclosures (IFRS 7). Retrieved from mof.gov.ua/storage/files/IFRS-07_ukr_2016.doc.pdf [in Ukrainian].
21. International Accounting Standards Board. (2003). Leases (IAS 17). Retrieved from docs.dtkt.ua/doc/1014.7732.0 [in Ukrainian].
22. International Accounting Standards Board. (2003). Accounting Policies, Changes in Accounting Estimates and Errors (IAS 8). Retrieved from mof.gov.ua/storage/files/IAS%208_ukr.pdf [in Ukrainian].
23. International Accounting Standards Board. (2003). Interests In Joint Ventures (IAS 31). Retrieved from docs.dtkt.ua/doc/1014.7756.0 [in Ukrainian].
24. International Accounting Standards Board. (1993). Revenue (IAS 18). Retrieved from docs.dtkt.ua/doc/1014.7734.0 [in Ukrainian].
25. International Accounting Standards Board. (2004). Impairment of Assets (IAS 36). Retrieved from zakon.rada.gov.ua/laws/show/929_047#Text [in Ukrainian].
26. International Accounting Standards Board. (2003). Intangible Assets (IAS 38). Retrieved from mof.gov.ua/storage/files/IAS-38_ukr_2016.pdf [in Ukrainian].
27. International Accounting Standards Board. (2003). Investment Property (IAS 40). Retrieved from mof.gov.ua/storage/files/IAS%2040_ukr [in Ukrainian].
28. Huron Consulting Group LLC. (2004). 2003 Annual Review of Financial Reporting Matters. Retrieved from www.iasplus.com/en/binary/resource/huron2003.pdf.