Buhalterinės apskaitos teorija ir praktika https://www.journals.vu.lt/BATP <p>Founded in 2007 and dedicated to publishing articles on accounting, audit, and analysis.</p> Vilnius University Press en-US Buhalterinės apskaitos teorija ir praktika 1822-8682 <p>Please read the Copyright Notice in&nbsp;<a href="http://www.journals.vu.lt/BATP/journalpolicy">Journal Policy</a>.&nbsp;</p> Expectations for competencies of top managers: changes and good practice https://www.journals.vu.lt/BATP/article/view/19163 <p>As the economic situation develops, the competencies of top managers are subject to extremely high requirements. This starts with functional and formal leadership as well as clearly defined status and job functions. It ends with the image of a modern leader who possesses a myriad of competencies and character traits, the criteria of which change constantly. It is observed that the importance of competencies, cooperation between top managers, personal development and leadership are most often studied. There are no questions raised in the research that would analyse the change of competencies of top managers over time and expectations for competencies in a constantly changing environment. The aim of this article is to examine expectations of top managers' competencies in context of good practices. To achieve this goal an analysis of the scientific literature was performed, systematisation and generalisation methods were used, good practice was observed and a survey was conducted. The results of the analysis of the scientific literature revealed which competence groups are most valued in today's business environment, as well as what opportunities opened up and what challenges the quarantine regime posed for today's leaders. The study identified key competencies, such as high ethical and moral standards and openness to new ideas and perspectives. The motivation behind the scientific problem formulated in this article was the lack of research and information, especially in view of the quarantine period, which significantly impacted the normal rhythm of work and life.</p> Gintarė Markauskienė Copyright (c) 2020 Gintarė Markauskienė https://creativecommons.org/licenses/by/4.0 2020-10-15 2020-10-15 22 3 3 10.15388/batp.2020.25 Origins of a performance audit and development in the world and in Lithuania https://www.journals.vu.lt/BATP/article/view/19186 <p>As the need for rational use of resources, environmental protection and social welfare increases, so does the importance of performance auditing. Historical knowledge of its origins and evolution makes it possible to understand what a performance audit is, for whom it is intended and what the purpose of its performance is. The aim of the article - to present the development stages, regulation and peculiarities of performance audit in the theoretical aspect in foreign and Lithuanian literature. Research methods of scientific literature analysis, historical, comparative, information grouping, systematization and generalization were applied to achieve the goal. The article reveals the transformation of performance auditing from social auditing to private equity entities to the current performance auditing, which is regulated and applied in the assessment of the performance of public entities. The article examines the development of performance auditing in four stages: 1940-1950, the first attempts to evaluate performance by social parameters; 2) 1950-1970 develops two approaches distinguishing social and economic parameters; 3) 1970-1990 regulation of the field of performance audit, the first research; 4) 1990-2020 adjusts and approves performance audit standards and guidelines, extensive research. During the relevant period, there were different scientific discussions on performance evaluation and performance auditing. The article reveals the problem of the versatility of performance auditing, which creates preconditions for further research.</p> Jonas Mackevičius Asta Šalienė Copyright (c) 2020 Jonas Mackevičius | Asta Šalienė https://creativecommons.org/licenses/by/4.0 2020-09-21 2020-09-21 22 2 2 10.15388/batp.2020.24 Industry influence on materiality level determination in the process of financial statements audit https://www.journals.vu.lt/BATP/article/view/19273 <p>Materiality levels are being used by auditors in different financial statement audit planning, procedure performance and results measurement stages. Thus, ensuring that financial statements are not significantly distorted. International standards on auditing contain extensive levels in materiality interpretation however, when determining materiality, it is underlined that auditor must be versed about audited company‘s sector and industry. The aim of the research is to analyze the industry factors which influence materiality determination levels in financial statement audit process and to establish the scheme of industry influence on materiality level determination. An article applies information collection, systematization and interpretation methods, analysis of Lithuanian and foreign scientific literature, audit regulatory legal acts. The analysis enabled to determine that industry significantly influence both planning and performance materiality also the allocation of the latter for accounting articles. The influence is determined by qualitative and quantitative industry factors. Theoretical model of industry influence on materiality determination is submitted in the framework below.</p> Gytis Kaziukonis Gerda Jurkonienė Copyright (c) 2020 Authors http://creativecommons.org/licenses/by/4.0 2020-08-26 2020-08-26 22 1 1 10.15388/batp.2020.23 The Concept and Functions of Performance Audit: Theoretical Study https://www.journals.vu.lt/BATP/article/view/18440 <p><span lang="en-GB">Performance audit is a type of audit that evaluates and inspects an organizations’ activity based on the so-called 3E approach: economy, efficiency, effectiveness, and plays the most important role in institutions of public sector.</span><span lang="en-US">&nbsp;During the implementation of the public sector reforms in recent decades, the concept of audit has been changing. Therefore, a need to re-evaluate the current definition of the audit and supplement it arose. It is also important to review the functions attributed to performance audit in order to define its ever-changing identity. The aim of the article: to evaluate the concepts of performance audit and the conceptual development of functions from a theoretical point of view. The article presents the analysis of performance audit concepts as well as a performance audit definition. The functions of performance audit have been distinguished, grouped, and evaluated based on how often they are mentioned in the literature. Two problems that make the implementation of the functions more challenging have been distinguished: contradictions among functions arise due to a diverse range of functions; due to versatility of the activity, the functions are difficult to evaluate, and measure and evaluation criteria are hard to establish.</span></p> Asta Salienė Daiva Tamulevičienė Lionius Gaižauskas Copyright (c) 2020 Asta Salienė | Daiva Tamulevičienė | Lionius Gaižauskas https://creativecommons.org/licenses/by/4.0 2020-08-04 2020-08-04 22 7 7 10.15388/batp.2020.22 Time series interpolation and application of its methods in financial analysis https://www.journals.vu.lt/BATP/article/view/18475 <p>In the modern market economy conditions, financial information is very significant when evaluating the results of enterprises’ financial status and activity results. General economic, mathematical, heuristic methods are used for this type of analysis. The article analyses application opportunities for one of the mathematical research methods–time series–as well as its research instruments, discusses the place and role of interpolation methods in a financial analysis. The article reveals that interpolation methods which may be used to determined former values of an enterprise’s financial indicators or identify reasons which determined the enterprise’s financial status and activity results are the following: 1) graphic and arithmetic interpolation in a linear equation; 2) geometric interpolation based on the compound percentage formula and 3) interpolation by averaging.</p> Jonas Mackevičius Romualdas Valkauskas Diana Bachtijeva Copyright (c) 2020 Jonas Mackevicius | Romualdas Valkauskas | Diana Bachtijeva https://creativecommons.org/licenses/by/4.0 2020-07-28 2020-07-28 22 6 6 10.15388/batp.2020.21 Strategic management accounting: information application areas and instruments https://www.journals.vu.lt/BATP/article/view/18632 <p>he application of strategic management accounting instruments in corporate governance is a significant tool for gaining a competitive advantage, increasing the existing market share, and improving the company’s performance. The article examines the development, concept, and significance of strategic management accounting. There are five areas of strategic management accounting: 1) costing; 2) planning, control, and performance measurement; 3) strategic decision-making; 4) competitor accounting; 5) customer accounting. The main instruments of each area, their advantages, challenges of implementation in enterprise management, and benefits for the efficiency of the organization have been identified.</p> Kamilė Medeckytė Daiva Tamulevičienė Copyright (c) 2020 Kamilė Medeckytė | Daiva Tamulevičienė https://creativecommons.org/licenses/by/4.0 2020-07-23 2020-07-23 22 5 5 10.15388/batp.2020.20 Methodology of applying standard costing and normative methods in manufacturing enterprises https://www.journals.vu.lt/BATP/article/view/17751 <p>Appropriate choice of the production cost calculation methods helps not only to estimate the production cost correctly, but also to correctly determine prices of products as well as their profit and profitability, draw up budgets, control expenses, make operational and prospective management decisions. The article analyses effective standard costing and normative methods that are still seldom applied in Lithuanian enterprises. A brief history of how the methods were created is provided. The advantages and aims as well as their similarities and differences are analysed. A methodology of applying standard costing and normative methods in manufacturing enterprises was prepared. Application of these methodologies is going to help managers and accountants to introduce the methods easier and at a lower cost.</p> Daiva Tamulevičienė Jonas Mackevičius Lionius Gaižauskas Copyright (c) 2020 Daiva Tamulevičienė | Jonas Mackevičius | Lionius Gaižauskas https://creativecommons.org/licenses/by/4.0 2020-06-25 2020-06-25 22 4 4 10.15388/batp.2020.19 Identification of Accounting Errors and Fraud: Case Study https://www.journals.vu.lt/BATP/article/view/17048 <p>Fraud from errors can only be distinguished by using the rejection method, when the found inaccuracy is checked using methodology for fraud detection. Therefore, the three most popular methodologies are examined: the fraud triangle, ratio analysis, and forensic accounting. The fraud triangle and the ratio analysis makes it easier to identify fraud than forensic accounting, but these methods require additional evidence to confirm the fraud. Forensic accounting uses document verification, so this method does not require additional evidence, whereas the forensic expert decides within his competence on error and fraud. The purpose of the article is to conduct a case study, which aims to determine the progress of investigating errors and fraud and the applicable illegal actions after examining a case of document forgery. In the case analysis fraud was found in the company's accounting by using document verification and comparison as well as interviewing employees. The following research methods were used for the research: comparative analysis and synthesis of scientific literature, interpretation, deduction, systematization, generalization, case analysis.</p> Daiva Raziūnienė Gintarė Juškaitė Copyright (c) 2020 Daiva Raziūnienė | Gintarė Juškaitė https://creativecommons.org/licenses/by/4.0 2020-04-29 2020-04-29 22 3 3 10.15388/batp.2020.18 The Effect of the Intensity of Telework Use on Employees’ Work-Life Balance https://www.journals.vu.lt/BATP/article/view/16768 <p><span lang="en-US">The intensive penetration of information and communication technologies into the labour market has also determined the modernisation of work organization processes. The digitization of information and telecommunications enabled to perform most of intellectual activities not only in the work premises but also in other spaces distant from the main workplace. Thus, as the technology revolution gradually releases modern intellectual work from the constraints of the physical location, telework is becoming an increasingly accelerating trend in the world.<strong>&nbsp;</strong>Together with technological changes allowing to reach the employee 24 hours a day and 7 days a week create challenges for teleworkers seeking to successfully reconcile two areas of life – work and personal life. Employees from different fields, among them accounting, audit, finances, analysis and others that carry out tasks via telework face this challenge.<br></span>Relevance of the scientific research problem formulated in this paper was determined by the lack of studies in the scientific research to date, which would evaluate the intensity of telework use as an important factor that has a different effect on work-life balance.<br>The research aim is to reveal the effect of the intensity of telework use on employee work-life balance. A quantitative study – the survey of telework employees was conducted and 320 respondents were surveyed. The results of the empirical study revealed that the intensity of telework use had equally positive effect only on two dimensions of work-life balance: time intended for the family and friends and time intended for oneself.</p> Neringa Grincevičienė Copyright (c) 2020 Authors http://creativecommons.org/licenses/by/4.0 2020-03-26 2020-03-26 22 1 1 10.15388/batp.2020.16 First time adoption of IFRS 15 “Revenue from contracts with customers“: the case of Lithuanian listed companies https://www.journals.vu.lt/BATP/article/view/16769 <p><strong>&nbsp;</strong>Revenue accounting is one of the most important areas of financial accounting. Revenue is one of the key absolute financial ratios that reflects the economic benefits generated by entities that result in increased shareholders‘ equity. This article investigates the first time adoption of new IFRS 15 “Revenue from contracts with customers“ which in International financial reporting standards (hereinafter – IFRS) system is mandatory to apply starting from 1 January 2018. The new IFRS 15 supersedes the previous international accounting standards regulating revenue recognition and introduces a conceptual 5-step revenue recognition model. The purpose of this article is to evaluate the impact of the first-time adoption of IFRS 15 “Revenue from contracts with customers“ on the financial statements of Lithuanian listed companies. This purpose is achieved while using the following research methods: analysis of International financial reporting standards (IFRS) and scientific literature, as well as analysis of the content of financial statements. An empirical study revealed that the first-time adoption of IFRS 15 had no material impact on the financial statements of Lithuanian listed companies. Most of the companies surveyed applied the standard using a simplified retrospective modified method and did not pay much attention to the disclosure of first-time adoption. For those affected by the standard, the effect was mostly notable in the following areas: reclassifications of commissions and brokerage fees, changes in revenue recognition principles from the revenue recognition over a time to revenue recognition at specific point in time and vice versa.</p> Darius Vaicekauskas Copyright (c) 2020 Authors http://creativecommons.org/licenses/by/4.0 2020-03-26 2020-03-26 22 2 2 10.15388/batp.2020.17