BUSINESS INFORM №8-2014

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ABSTRACTS AND INFORMATION ABOUT AUTHORS

39

Section: Accounting and Auditing
UDC 336.1
Kosova T. D., Anhelina I. A.
Information Support of Financial Control Based on International Accounting Standards for the State Sector (p. 218 - 222)
The requirements for accounting and reporting on the implementation of budgets in accordance with the two approaches were summarized: the statistical bases of financial reporting within the System of National Accounts and financial statements based on international accounting standards in the public sector. Their similarities and differences were disclosed. The composition and requirements for disclosure of financial information on the overall public sector were defined, as well as the presentation of the consolidated financial statements of the governments at various levels, recognition of revenues from non-exchange transactions and presentation of information about the implementation of the budget in the financial statements. A critical assessment of the implementation of international accounting standards for the public sector in Ukraine was given, which is the formation of financial reports on the implementation of a state budget. The directions of the further implementation of international standards were grounded: dissemination of lessons learned on local budgets, the expansion of financial reporting on the implementation of the budget as quantitatively (due to disclosure of accounting policies and notes to the financial statements) and qualitatively (by providing not only actual but also target indices, as well as calculating deviations). To improve information security analysis and control of formation and use of the budget it was proposed to initiate the formation of the consolidated financial statements of governments, local authorities and entities under their control.
Keywords: provision of information, financial control, public sector, international standards
Tabl.: 1. Bibl.: 13.

Kosova Tetiana D. – Doctor of Sciences (Economics), Professor, Senior Research Fellow, Department of Problems of Perspective Development of the Fuel and Energy Complex, Institute of Industrial Economics of NAS of Ukraine (2 Mariia Kapnist Str., Kyiv, 03057, Ukraine)
Email: [email protected]
Anhelina Irina A. – Candidate of Sciences (Economics), Associate Professor, Associate Professor, Department of Control and analysis of economic activities, Donetsk National University of Economics and Trade named after Mykhailo Tugan-Baranovsky (16 Tramvaina Str., Kryvyi Rih, Dnipropetrovsk region, 50005, Ukraine)
Email: [email protected]

Article is written in Ukrainian
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Reference to this article:
Kosova, Tetiana D., and Anhelina, Irina A. (2014) “Information Support of Financial Control Based on International Accounting Standards for the State Sector.” Business Inform 8:218–222.

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