Improvement of Methods for Detection of Signs of Errors and Omissions in the Financial Statements Based on Analytical Procedures
Journal Title: Oblik i finansi - Year 2014, Vol 1, Issue 4
Abstract
Analytical work within enterprises aimed to prevent omissions of financial reporting data should play a leading role in the work program of accountant, analyst and auditor. The article is devoted to the improvement of methods for detection signs of errors and omissions in the financial statements by applying analytical procedures. It was established that the main issues at implementation of the concept of financial statements control in the enterprise are the lack of adopted methods to detect signs of errors and omissions in the financial statements based on analytical procedures and determining of their content. The sources of non-financial information that enables detection of analytical features of omissions in the financial statements are proposed. The characteristic is given to the indicators that alarm about the possible omissions of information in the financial statements. For identifying errors and omissions in the financial statements in the implementation practice of analytical procedures it is recommended to use Z-model of E. Altman for the purpose of checking the facts and receiving additional evidence of omissions of these financial statements.
Authors and Affiliations
Kostyantyn Bezverkhiy
Keywords
Related Articles
- EP ID EP105583
- DOI -
- Views 473
- Downloads 0
Influence of Parameters of Agricultural Enterprises Activity on the Organization of the Managerial Accounting
The organization of managerial accounting in agricultural enterprises depends on their size and objectives, which is pursued by the owner (manager) when debugging the accounting system. The article is devoted to the stud...
Удосконалення методики виявлення ознак викривлень і помилок у фінансовій звітності підприємства на основі аналітичних процедур
Аналітична робота на підприємствах по запобіганню викривлень даних фінансової звітності повинна займати провідне місце в робочій програмі бухгалтера, аналітика та аудитора. Стаття присвячена удосконаленню методики виявле...
Scientific Interpretation of the Accounting Methodology in the Works of the Coryphaeans of Accounting
Understanding of the concept of “methodology of science” in combination with the practical use of methodical methods of scientific research is one of the most effective tools for searching for new ideas and solutions to...
Value-Based Controlling & International Accounting of Economic Value Added (EVA) – An Overview
This paper will discuss an important target variable in value-based management: the Economic Value Added (or EVA). EVA is a measure of a company's financial performance based on the residual wealth calculated by deductin...
Трансдисциплінарний підхід в підвищенні ефективності управління інтелектуальним капіталом компанії
Четверта промислова революція спричиняє появу принципово нового типу промислового виробництва, в якому інтелектуальний капітал відіграватиме роль найважливішого фактору виробництва. Це зумовлює необхідність оперативного...