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Requirements to Present-Day Corporations' Reporting: Foreign and Ukrainian Experience

Journal: Oblik i finansi (Vol.1, No. 74)

Publication Date:

Authors : ; ;

Page : 40-45

Keywords : reporting; requirements; structure; evaluation; forms; consolidation; integration;

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The article focuses on existing requirements to corporations' reporting and substantiation of main tasks for Ukrainian enterprises in relation to implementation of present-day models of informing the society about their performance from the point of view of fullness and maximum informative value. It clears up the particulars of formation of financial, consolidated and integrated statements of the entity, determines the requirements imposed to each type of statements in modern conditions. Differences in preparation of statements by foreign and Ukrainian entities are defined that enables to substantiate the target to improve reporting of national corporations for the purposes of unification with international requirements. It is found that opportunities of financial reporting improvement are limited to a certain extent, consequently, the increase in informative value of reporting is resolved at the expense of increase in the list of reporting forms including through preparation of integrated statements. The article concludes that improvement of reporting is primarily related to necessity to understand the role, which a single entity plays in the social and economic development of the country.

Last modified: 2017-01-18 04:33:46