Accounting Theory and Practice 2019-03-23T18:26:34+02:00 Rasa Subačienė Open Journal Systems <p>Founded in 2007 and dedicated to publishing articles on accounting, audit, and analysis.</p> Table of Contents 2018-10-01T10:20:21+03:00 2018 17-18 BATP 2018-10-01T00:00:00+03:00 ##submission.copyrightStatement## Cover and Editorial Board 2018-10-01T10:28:21+03:00 2018 17-18 BATP 2018-10-01T00:00:00+03:00 ##submission.copyrightStatement## Training of High Qualifications in the Accounting, Statistics Direction in Accordance with Professional Standards 2019-03-23T18:26:34+02:00 Svetlana Bychkova Svetlana Timoshenko <p>[full article and abstract in English]</p> <p>The human potential of science is the basis for the formation of the scientific elite, which has declined significantly in recent decades in Russia. The process of forming the human resources potential of a higher school science must begin with the qualitative organization of research activities of students. Then it is necessary to conduct training of scientific personnel in postgraduate study. At the final stage after graduation from the graduate school, it is necessary to carry out measures to secure the trained scientific personnel in higher education with the replacement of a certain post.</p> <p>The human resources potential of science should be considered as an integral characteristic of the available capabilities of each employee. It is important not only to properly assess this potential, but be able to form it. The training of highly qualified personnel is an important strategic stage in the formation of the human potential of science and increasing the competitiveness of the university, taking into account the presence of such negative factors as the aging of scientific personnel, the transfer of scientific and teaching staff to other spheres of the economy, etc.&nbsp; The competitiveness of a higher educational institution largely depends on postgraduate education, which significantly affects the rating indicators of the university.</p> <p>Objective of this research is carrying out a complex author’s research of the current state of training of the top skills in the Accounting, Statistics direction taking into account application of professional standards and also definition of positive and negative sides in the course of their interface. The research is conducted by means of the system analysis. The retrospective analysis of development of system of the higher education in Russia is also applied. The drawn conclusions confirm need of improvement of the existing system of the higher education in a number of the directions. It is necessary to understand that the personnel potential of science is the multidimensional category more difficult according to the contents, than the personnel capacity of the organization.</p> 2018-10-01T00:00:00+03:00 ##submission.copyrightStatement## Intellectual Capital in the Context of Strategic Business Development 2019-03-23T18:26:33+02:00 Romualdas Broniukaitis <p>[only abstract in English; full article and abstract in Lithuanian]</p> <p>The need to establish themselves in a dynamic and complex business environment urges organisations to look for innovations that would foster business development. Organisations are forced to continuously develop and improve new strategies for competitive advantage, flexibility and innovativeness. The aim to succeed in a complex and heterogeneous environment leads to the approach that the most valuable organisational resource is its intangible assets – its employees’ knowledge and skills. Maintaining the level of these assets and integrating them into organisation’s activities becomes the critical factor in strategic business development. Theoretical approach and the central assumption of this study is that intangible resources are a strategic asset that plays the key role in creating long-term competitive advantage. The article aims to demonstrate the importance of intellectual capital and its influence on strategic business development. The article develops a new understanding of business development in a long-term perspective by emphasising the importance of the interrelationship between intellectual capital and its elements for organisational success. The article highlights the importance of a strategic approach to holistic management of intangible resources in pursuit of organisational effectiveness. The article uses methods of literature review, comparative analysis and synthesis.</p> 2018-10-01T00:00:00+03:00 ##submission.copyrightStatement## Searching For Information Quality of Financial Statements: From the Main Principles Up To Neuroaccounting 2019-03-23T18:26:32+02:00 Marina Guptor Kristina Rudžionienė <p>[only abstract in English; full article and abstract in Lithuanian]</p> <p>The aim of the article is to study the relationship between neuroscience and financial accounting, the fundamental aspects of decision-making and decision-making by accounting specialists from the perspective of neuroscience. Methods: conceptual, critical, systematic analysis of scientific literature, comparison and generalization.</p> <p>Properly grouped and presented information in the financial statements conveys a clear and understandable picture about an entity that has to reduce the level of entropy (uncertainty) of its users. The financial statements are prepared by accounting specialists, and it is therefore important that they, when preparing their reports, would replicate the details of economic events and economic facts as accurately the information of reports.</p> <p>Scientific literature does not have a common definition of the “quality of accounting information”, but the concept of the quality of financial statements can be considered in the context of their normative regulation. In this case, compliance with the basic accounting principles in the preparation of financial statements must ensure the quality of the reports. The results of the research carried out in Lithuania revealed that the overall average of the financial statements is 50-59%. The quality of financial reports is influenced by not only compliance with the general principles, but also the human factor.</p> <p>Neuroaccounting - the subcategory of neuroscience - is a new trend in the modern behavioural accounting based on the research of the activity of neurons involved in the human decision-making process. Neuroaccounting is a new way for scientific evaluation of accounting, and research results are important both for investors who analyse financial statements, for auditors who perform audit tasks, and for accountants, who record business events, analyse and reflect transactions, formation of budget and perform other accounting tasks. Neuroscience research methods can also be valuable in conducting research and determining how the brain of accounting specialists can resolve conflicts arising from the adoption of one or another decisions related to the presentation of economic transactions in accounting, their assessment as well as presentation of information about them in financial statements.</p> 2018-10-01T00:00:00+03:00 ##submission.copyrightStatement## Preparation and Audit of Consolidated Statements in Belarus: Status, Problems, Prospects 2019-03-23T18:26:31+02:00 Sergey Korotaev <p>[full article, abstract in English]</p> <p>The study purpose is development of a methodology for preparation of consolidated financial statements in the context of harmonization of the national system of accounting and preparation of statements with IFRS norms and principles. Study objectives: a) analysis of normative legal acts governing the preparation of consolidated financial statements in Belarus; b) identification of problematic issues arising during preparation of consolidated financial statements in accordance with the national legislation; c) development of specific proposals for improving the methodology for preparation of consolidated statements; d) analysis of the practice of audit of consolidated financial statements prepared in accordance with the national legislation and IFRS. In order to achieve tasks assigned, the author analyzes national normative legal acts that regulate the preparation of consolidated financial statements, examines specific consolidation mechanisms that raise questions among authors of statements, identifies approaches to resolving problematic consolidation issues, identifies reasons that prevent the preparation of reliable statements, as well as reasons for their non-preparation. Investigation of issues related to preparation of consolidated statements is linked to problematic issues of audit of such statements. The conclusion includes proposals for improvement of organization and clarification of the methodology for preparation of consolidated statements, as well as proposals for amending the legislation on audit activities on issues related to the audit of consolidated accounting statements.</p> 2018-10-01T00:00:00+03:00 ##submission.copyrightStatement## Investigation of Accounting Theory Issues in the Works of Lithuanian Authors 2019-03-23T18:26:30+02:00 Jonas Mackevičius Rasa Subačienė Daiva Tamulevičienė <p>[only abstract in English; full article and abstract in Lithuanian]</p> <p>The article focuses on how Lithuanian authors investigate the most important issues of accounting theory. The analysis of Lithuanian authors’ textbooks and educational books examining the topics and issues of accounting theory showed that designation, volume, consistency of teaching, etc. differ. The issues of accounting significance, types, principles or policies are examined the most frequently. Lithuanian authors have introduced plenty of new and original thoughts and ideas on these issues which enrich accounting theory. Among them these are noteworthy: introduction of new accounting principles, more detailed definition of financial and management accounting, broader designation of accounting significance for the needs not only of a company, but of society, etc. These differences are explained not as much by the different approaches towards accounting theory but rather by the events and available information of the period in which the books were written. Examination of accounting theory issues in the works of Lithuanian authors is important because methodologically sound disclosure of their essence in textbooks and educational books is of key importance for training highly qualified experts of accounting.</p> 2018-10-01T00:00:00+03:00 ##submission.copyrightStatement## Methodic the Quantitative Assessment Factors the Inherent Risk of Audit 2019-03-23T18:26:29+02:00 Jonas Mackevičius Romualdas Valkauskas Daiva Tamulevičienė <p>[only abstract in English; full article and abstract in Lithuanian]</p> <p>The purpose of this article is investigate factors the inherent risk and to create a methodic for quantifying the inherent audit risk. The article analyzes the inherent risk of audit essential features and its place in the overall audit risk system. It is shown that the inherent risk of audit is influenced by many factors, which can be divided into two groups: 1) the outside; 2) inside. All factors should be investigated early in the audit phase, in particular when developing an audit strategy and establishing an audit plan and programs. The assessment of these factors depends on the auditor’s competence.</p> <p>A quantitative assessment of the inherent risk of audit risk consisting four calculation steps: factors - indicator list formation; their assessment; determination of maximum assessment and determination the synthetic characteristics of the inherent audit risk and the determination of the level of risk.</p> <p>This methodology can be used in conjunction with other methods and models for audit risk assessment as a means of measuring as closely as possible the inherent audit risk and its determinants, and tracking its changes.</p> <p>Research methods: scientific literature analysis, grouping, comparing, detailing and aggregating information.</p> 2018-10-01T00:00:00+03:00 ##submission.copyrightStatement## The Evaluation of Methodological Aspects of the Trade Enterprises Financial Stability Analysis 2019-03-23T18:26:28+02:00 Illia Savchenko Iryna Nagorna <p>[full article and abstract in English]</p> <p>Modern world trade trends put forward additional requirements for the trade enterprises to ensure efficient functioning and achieve a high level of competition. Considering this, it becomes actual to form and implement substantiated organizational and economic mechanism of financial stability analysis. The aim of the article is to substantiate the methodical aspects of the trade enterprises financial stability analysis in order to ensure the improvement of the economic assessment mechanism of its level. Research methods: generalization, analysis and synthesis. Key findings: the existing trends in the usage of the trade enterprises analytical apparatus are indicated the need for modernization of many methodical aspects of financial stability analysis. The author justified that it is advisable to adapt and implement in practice the structures of performance indicators in specific activity areas and structural divisions, to determine their impact significance on the integral indicator of the trade enterprise effectiveness.</p> <p>Prerequisites for improvement of the trade enterprises financial stability analysis system are revealed. Based on the scientific approaches evaluation the author developed methodological provisions of the complex analysis of the trade enterprises financial stability and highlighted the conceptual directions of the development and adaptation of existing methods to the real economy conditions. The main problems of ensuring the trade enterprises financial stability are revealed and ways of their solution are suggested. The theoretical provisions and methodological approaches discussed in the article can be used as the specific recommendations on the assessment of the trade enterprises financial stability and to develop an integrated model of such assessment. The scientific and methodological recommendations of the trade enterprises financial stability assessment that will contribute to the economic mechanism improvement for provision are proposed.</p> 2018-10-01T00:00:00+03:00 ##submission.copyrightStatement## Factors Affecting the Collection of Corporate Income Tax: The Case of Baltic States 2019-03-23T18:26:27+02:00 Kamilė Snitkienė Kastytis Senkus Ramunė Budrionytė <p>[only abstract in English; full article and abstract in Lithuanian]</p> <p>A stable and well-structured tax system is one of the key factors driving economic growth and the attractiveness of the investment environment, ensuring the funds for the fulfillment of state functions. However, tax systems are often criticized and the corporate income tax is one of the most criticized element of the system. The aim of the study is to identify the economic factors affecting the collection of corporate income tax in the Baltic States, the strength and trend of the influence. The changes of corporate income tax rates, the dynamic of collection as well as the dynamic of factors influencing the collection of corporate income tax in the Baltic States were analysed. The impact of GDP, direct foreign investment, export, import, employment on the collection of corporate income tax was analysed as well. The study revealed that corporate income tax collection is strongly or very strongly correlated to GDP. The collection of corporate income tax was strongly correlated with imports in Latvia, while in Estonia a strong correlation with foreign investments was found. The lowest correlation in all countries was observed between corporate income tax collection and employment. Subsequent regression analysis resulted in the creation of one-dimensional regression equations between dependent (corporate income tax collection) and independent (GDP, direct foreign investment, export, import, employment) variables for every Baltic state.</p> 2018-10-01T00:00:00+03:00 ##submission.copyrightStatement##