IDEAS home Printed from https://ideas.repec.org/a/ssi/jouesi/v6y2018i1p139-175.html
   My bibliography  Save this article

Evaluation of accounting regulation evolution in selected countries

Author

Listed:
  • Rasa Subačienė

    (Vilnius University, Lithuania)

  • Lehte Alver

    (Tallinn University of Technology, Estonia)

  • Inta Brūna

    (University of Latvia, Latvia)

  • Mirjana Hladika

    (University of Zagreb, Croatia)

  • Daša Mokošová

    (University of Economics in Bratislava, Slovakia)

  • Jan Molín

    (University of Economics, Czech Republic)

Abstract

Accounting forms a significant part of information on any enterprise and plays the most important role in different levels of enterprise’ management as well as in country’s. Accounting information is used by various information users, whose decisions may influence various spheres: from performance of enterprises to proceeding the state policy. Its role increased recently under conditions of modern global and competitive market economy, and will be increasing in the future. Importance of accounting information usage highlights the need of appropriate formation of such information. And accounting regulation plays the main role in the process of formation and presentation of accounting information as it determines requirements for accounting methodology, information performed in the single set of financial statements or consolidated financial statements. The purpose of the research is to evaluate evolution of accounting regulation for the period 1990 – 2017 and distinguish accounting regulation evolution phases and factors, which influenced development of the phases. Six countries, which are members of the European Union – the Republic of Croatia, the Czech Republic, the Republic of Estonia, the Republic of Latvia, the Republic of Lithuania and the Slovak Republic - were chosen for the evaluation of accounting evolution. For the research were used legislation analysis, systematisation, inductive and deductive, comparison and summary of information methods. Research results show, that evolution of accounting regulation in analysed countries may be distinguished in four general phases. The period of evolution started at the beginning of nineties (1990–1992) when the countries transformed from a central planned economy to market economy, this phase was followed by other phases (1993–2001–2005), when laws on accounting and additional legislation were issued. Accounting regulation evolution phase for alignment accounting legislation with Fourth and Seventh EU Directives started from 2002/2006 and the phase of the compliance with requirements of Directive 2013/34/EU of the European Parliament and of the Council of 26 June 2013, which started in all analysed countries in 2016, except Slovakia – in 2014, completes the accounting regulation evolution period till present.

Suggested Citation

  • Rasa Subačienė & Lehte Alver & Inta Brūna & Mirjana Hladika & Daša Mokošová & Jan Molín, 2018. "Evaluation of accounting regulation evolution in selected countries," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 6(1), pages 139-175, September.
    • Handle: RePEc:ssi:jouesi:v:6:y:2018:i:1:p:139-175
    DOI: 10.9770/jesi.2018.6.1(11)
    as

    Download full text from publisher

    File URL: https://jssidoi.org/jesi/uploads/articles/21/Subaciene_Evaluation_of_accounting_regulation_evolution_in_selected_countries.pdf
    Download Restriction: no
    File URL: https://jssidoi.org/jesi/article/214
    Download Restriction: no
    File URL: https://libkey.io/10.9770/jesi.2018.6.1(11)?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Natalia Kunitsyna & Igor Britchenko & Igor Kunitsyn, 2018. "Reputational risks, value of losses and financial sustainability of commercial banks," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 5(4), pages 943-955, June.
    2. Jaan Alver & Lehte Alver, 2008. "Development of Accounting and Implementation of International Financial Reporting Standards in Estonia," Springer Books, in: Robert W. McGee (ed.), Accounting Reform in Transition and Developing Economies, chapter 6, pages 101-113, Springer.
    3. David Procházka, 2014. "The IFRS as Tax Base: Potential Impact on a Small Open Economy," European Financial and Accounting Journal, Prague University of Economics and Business, vol. 2014(4), pages 59-75.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. repec:ssi:jouesi:v:1:y:2019:i:1:p:48-57 is not listed on IDEAS
    2. Anh Ngoc Mai & Huong Van Vu & Bien Xuan Bui & Tuyen Quang Tran, 2019. "The lasting effects of innovation on firm profitability: panel evidence from a transitional economy," Economic Research-Ekonomska Istraživanja, Taylor & Francis Journals, vol. 32(1), pages 3417-3436, January.
    3. Sergejs Hilkevics & Valentina Semakina, 2019. "The classification and comparison of business ratios analysis methods," Post-Print hal-02115236, HAL.
    4. Edmunds Čižo & Olga Lavrinenko & Svetlana Ignatjeva, 2020. "Determinants of financial development of the EU countries in the period 1995-2017," Post-Print hal-02919508, HAL.
    5. Viktoriya Valeryevna Manuylenko & Marina Aleksandrovna Loktionova & Nina Vladimirovna Lipchiu & Natalia Vladimirovna Sobchenko & Tatyana Andreyevna Sadovskaya, 2018. "Options simulation toolkit for strategic evaluation of corporations' financial potential," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 6(2), pages 871-889, December.
    6. Sergejs Hilkevics & Valentina Semakina, 2019. "The classification and comparison of business ratios analysis methods," Insights into Regional Development, VsI Entrepreneurship and Sustainability Center, vol. 1(1), pages 48-57, March.
    7. Edmunds Čižo & Olga Lavrinenko & Svetlana Ignatjeva, 2020. "Determinants of financial development of the EU countries in the period 1995-2017," Insights into Regional Development, VsI Entrepreneurship and Sustainability Center, vol. 2(2), pages 505-522, June.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Rasa Subačienė & Lehte Alver & Inta Brūna & Mirjana Hladika & Daša Mokošová & Jan Molín, 2018. "Evaluation of accounting regulation evolution in selected countries," Post-Print hal-02121121, HAL.
    2. Mangirdas Morkunas & Gintaras Cernius & Gintare Giriuniene, 2019. "Assessing Business Risks of Natural Gas Trading Companies: Evidence from GET Baltic," Energies, MDPI, vol. 12(14), pages 1-14, July.
    3. Valentyna Yakubiv & Ruslana Sodoma & Oksana Hrytsyna & Natalia Pavlikha & Tetiana Shmatkovska & Iryna Tsymbaliuk & Olga Marcus & Iryna Brodska, 2019. "Development of electronic banking: a case study of Ukraine," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 7(1), pages 219-232, September.
    4. Oksana Zagorodniuk & Maryna Gomeniuk & Liudmyla Maliuga, 2022. "Management Of Economic Security Of Horticultural Enterprises In Ukraine," Baltic Journal of Economic Studies, Publishing house "Baltija Publishing", vol. 8(2).
    5. Haitham Nobanee & Maryam Alhajjar & Ghada Abushairah & Safaa Al Harbi, 2021. "Reputational Risk and Sustainability: A Bibliometric Analysis of Relevant Literature," Risks, MDPI, vol. 9(7), pages 1-21, July.
    6. Miluse Korbelova, 2016. "How International Financial Reporting Standards (IFRS) Improve the Financing of SME’s in the Czech Republic," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(3), pages 36-46.
    7. Pushkareva, Lyudmila & Galochkina, Olga & Bezgacheva, Olga, 2018. "Current trends in the banking system of Russia," MPRA Paper 97386, University Library of Munich, Germany.
    8. Manuela Gomez‐Valencia & Maria Alejandra Gonzalez‐Perez & Ana Maria Gomez‐Trujillo, 2021. "The “Six Ws” of sustainable development risks," Business Strategy and the Environment, Wiley Blackwell, vol. 30(7), pages 3131-3144, November.
    9. Dana Kubickova & Irena Jindrichovska, 2016. "Comparability and Reliability of Financial Information in the Sector of Czech SMES (ten years of IFRS as a part of Czech accounting context)," European Research Studies Journal, European Research Studies Journal, vol. 0(4), pages 64-77.
    10. Ladislav Mejzlík & Markéta Arltová & David Procházka & Leoš Vítek, 2015. "Implementace mezinárodních standardů účetního výkaznictví v České republice a její vliv na zdanění podniků [The Adoption of International Financial Reporting Standards in the Czech Republic and Its," Politická ekonomie, Prague University of Economics and Business, vol. 2015(7), pages 811-832.
    11. Egidijus Bikas & Vitalija Saponaitė, 2018. "Behavior of the Lithuanian investors at the period of economic growth," Post-Print hal-02121012, HAL.
    12. Egidijus Bikas & Vitalija Saponaitė, 2018. "Behavior of the Lithuanian investors at the period of economic growth," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 6(1), pages 44-59, September.
    13. Nisful Laila & Karina Ayu Saraswati & Himmatul Kholidah, 2019. "Efficient portfolio composition of Indonesian Islamic bank financing," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 7(1), pages 34-43, September.
    14. Karine Alexandrovna Barmuta & Vadim Vitalievich Ponkratov & Maksim Maramygin & Nikolay Vladimirovich Kuznetsov & Vitali Ivlev & Marina I. Ivleva, 2019. "Mathematical model of optimizing the balance sheet structure of the Russian banking system with allowance for the foreign exchange risk levels," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 7(1), pages 484-497, September.
    15. Francisco Guijarro & Ismael Moya-Clemente & Jawad Saleemi, 2019. "Liquidity Risk and Investors’ Mood: Linking the Financial Market Liquidity to Sentiment Analysis through Twitter in the S&P500 Index," Sustainability, MDPI, vol. 11(24), pages 1-13, December.
    16. Waldemar Milewicz, 2020. "The influence of foreign investors on the development of Polish enterprises – a case study of the BPH bank," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 8(2), pages 829-839, December.

    More about this item

    Keywords

    accounting; development of accounting; accounting regulation; Croatia; Czech Republic; Estonia; Latvia; Lithuania; Slovakia;
    All these keywords.

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ssi:jouesi:v:6:y:2018:i:1:p:139-175. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Manuela Tvaronaviciene (email available below). General contact details of provider: .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.