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Accounting Procedures in the System of Searching and Generating the Balance Sheet of Accounting Information by Various Stakeholder Groups

Author

Listed:
  • A.I. Belousov
  • G.V. Mihajlova
  • N.A. Rumachik
  • E.A. Shelukhina

Abstract

This article emphasizes the importance of analyzing critically and using the multi-option models of running the accounting records that make it possible to considerably improve the harmonization of interests of various stakeholder groups and the quality of the accounting data as well. The authors have resorted to various conceptual principles as their study subject to carry out the research that is used by modern science and that is intended to tackle the challenges of realizing a quantum leap in business processes. The authors have demonstrated the peculiarities of generating and using multi-option models of running the accounting records, the specific features of their demonstration in the GAAP, IFRS systems, the continental accounting model and in the Russian practices. They consider the aggregate scenarios in financial and economic development of business entities as obtained by means of accounting sampling to be the most promising trend in optimizing the accounting information in the system of possible stakeholder inquiries. By reference to the results of the research the authors conclude that the interests of the property owners, executive management and mass public that are aimed at the neutrality criterion as obtained by means of the accounting information should be harmonized.

Suggested Citation

  • A.I. Belousov & G.V. Mihajlova & N.A. Rumachik & E.A. Shelukhina, 2018. "Accounting Procedures in the System of Searching and Generating the Balance Sheet of Accounting Information by Various Stakeholder Groups," European Research Studies Journal, European Research Studies Journal, vol. 0(Special 2), pages 238-245.
    • Handle: RePEc:ers:journl:v:xxi:y:2018:i:special2:p:238-245
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    References listed on IDEAS

    as
    1. Holthausen, Robert W. & Leftwich, Richard W., 1983. "The economic consequences of accounting choice implications of costly contracting and monitoring," Journal of Accounting and Economics, Elsevier, vol. 5(1), pages 77-117, April.
    2. repec:ers:journl:v:special_issue:y:2018:i:1:p:34-40 is not listed on IDEAS
    3. Fama, Eugene F, 1970. "Efficient Capital Markets: A Review of Theory and Empirical Work," Journal of Finance, American Finance Association, vol. 25(2), pages 383-417, May.
    4. A.I. Belousov & G.V. Mihajlova & F.M. Uzdenova & L.V. Blizno, 2018. "Legal and Economic Components of Modern Accounting Transformation," European Research Studies Journal, European Research Studies Journal, vol. 0(Special1), pages 34-40.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Belousov A.I. & Kuznetsova E.V. & Mihajlova G.V. & Uzdenova F.M., 2019. "Transformation of Value and Income Indicators and Their Accounting and Analytical Support," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(Special 1), pages 294-301.

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    More about this item

    Keywords

    Accounting transformation; methods of accounting; useful information; interests of specific users of accounting information.;
    All these keywords.

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting
    • M40 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - General
    • M20 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - General
    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility

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