Purpose: The main aim of the article is to present the concept of managerial account reporting for a production company from the SME sector, using case studies. The auxiliary aims were to present the ...systems of managerial account reporting for different sectors in the literature and to explain its absence in Polish companies. Methodology/approach: The article is based on the implementations of cost accounting in companies in different sectors. The case study method is applied in the study.Findings: The article presents case studies that describe in-house managerial account reports in companies from different sectors and the reasons for not using such solutions in Polish companies.Research limitations/implications: The consequences of the typical ʽaccountancyʼ approach in financial reporting in SMEs is the lack of and the limited usefulness of accounting as such in managing a company.Practical implications: A properly constructed in-house plan of accounts makes it possible to pre-pare a managerial account report for decision-making.Originality/value: The article constitutes a summary and a reflection on the construction and use of managerial accounting tools in company management and SME accounting.
The purpose of this article is to illustrate the growing limitations of the current methods of calculating earnings, particularly when earnings is a negative number. Earnings, presumably the most ...important output of a financial reporting system, is not a singular metric. It is obtained by subtracting numerous expense line items from revenues, both of which are calculated after applying a diverse, and often inconsistent, set of accounting conventions. Despite this apparent deficiency, earnings could be informative of recurring profits, if revenues are measured correctly and expenses are traced to revenues. However, both principles are increasingly violated for the cohorts of firms listed in the last 30 years, which now constitute over 80% of the set of listed firms. Revenues of recent cohorts do not capture many events that create recurring cash flows. Their operating expenses are dominated by intangible outlays that are unmatched to current revenues. As a result, newer cohorts’ profits and profit margins, especially when negative, offer little to inform future profits. Given that revenue and expense recognition rules are unlikely to change anytime soon, the current developments raise a question: Should the reporting of the summary measure of earnings be voluntary instead of mandatory?
Purpose: to determine the role of the principle of consistency in the method of revenue recognition on the income statement.
Design/methodology/approach: This research approach uses a descriptive ...method, which describes the actual situation that occurs in the company for analysis using the applicable theory. While in this study the method used by the author is to use a qualitative method
Findings: This result affects the net profit obtained by the company because of the unrecorded income and expenses. From the evidence above, it can be seen that with the method of recognizing revenues and expenses at the time of sale and adjustments to revenues and expenses that have not been recognized, they can be presented fairly in the financial statements.
Practical implications: intensify the recognition of revenues and expenses at the time of sale and adjustments for unrecognized revenues and expenses
Originality/values: This paper is original
Paper types: research sense
The financial management and reporting practices of public schools in KwaZulu-Natal (KZN) are a matter of concern. Section 42 of the South African Schools Act (SASA) requires that the Member of the ...Executive Council (MECs) for Education in KZN develops financial reporting guidelines for the schools. As a result, each province in South Africa has its l financial reporting guidelines that provide a framework for schools to report their financial information accurately and transparently. However, there are concerns about the lack of financial accountability and transparency emanating from improper financial reporting on the parts of the schools. Poor reporting practices of KZN schools may lead to negative consequences such as financial mismanagement, misappropriation of funds, and inability to account for expenditures. As a result, this study examined how public ordinary schools complied with the financial reporting requirements set forth by the KZN Provincial Department of Education (PDE). The study used a content analysis method to collect data from 58 schools’ yearly financial statements over a two-year period. Descriptive statistics were used to analyze the quantitative data gathered from the financial statements to assess the degree of conformity with KZN PDE financial reporting rules. The findings revealed various instances of public schools failing to follow the rules. The schools’ reporting practices were particularly poor since they did not adhere to the reporting standards. The research contributes to understanding financial reporting compliance levels among schools in KZN. The study also provides recommendations to improve compliance and promote school financial accountability.
The study aims to diagnose the effect of applying International Accounting Standard 12 (income taxes) on tax accounting processes on the one hand, and to identify the reflection of the financial ...statements as a mediating variable in the relationship between International Accounting Standard 12 (income taxes) as an independent variable and the approved variable for tax accounting. In order to answer these questions, the tax departments were selected as well as a sample of academics specialized in the field of accounting and tax accounting at the University of Sulaymaniyah in the Kurdistan Region - Iraq as a field of study and a source for obtaining the data collected by the questionnaire distributed to a sample of professionals working in the tax departments as well as a sample of Academics specialized in the field of accounting and tax accounting, numbering (127), from which (100) valid forms were retrieved for statistical analysis. The questionnaire was used to collect the required data to analyze it in order to reach the results of the study in both its theoretical and practical aspects. A hypothetical scheme was formulated that reflects the harmonious relationships and influence between the dimensions of the study, which are (International Accounting Standard 12 (income taxes), financial statements, and tax accounting). objectives and implementation of its plan. The field verification was consistent with the theoretical objective, which proved the existence of relationships between the dimensions studied. The study reached a set of conclusions, the most important of which is the existence of an impact relationship for International Accounting Standard 12 (income taxes) in activating tax accounting with the presence of financial statements. In light of the conclusions reached by the study, a number of proposals were presented, the most important of which is related to the need for timing decisions to expand attention and focus more on applying International Accounting Standard 12 (income taxes) to better activate tax accounting processes.
The purpose of this study is to apply PSAK no. 45 Non-Profit Organization and compilation of financial reports at the Muhammadiyah Pontianak University. Financial statements, balance sheet and income ...statement are object of this analysis for the period September 2018 - August 2019. The research method used is descriptive qualitative. The analysis starts by reviewing the financial reports, examining the standards in PSAK, then compiling financial reports and classifying accounts according to PSAK no. 45 standard. The results showed that the University's financial statement is well system, record cash inflows and outflows clearly, has been report Income statement and balance sheets but for the posts, sequences, accounts valuation were not in accordance with PSAK no. 45 Non-Profit Organization. The university does not report cash flow statement and notes on financial statements.
Discussion to date has focused on whether business-style accrual accounting fits the public sector, rather than analysing which alternative options of accrual accounting best serve the needs of ...public sector stakeholders. This paper looks at what the primary users of government accounting information actually need and describes a new analytical approach that can be used to assess the existing public sector financial accounting standards. The author then presents the most suitable conceptual framework for the public sector. The paper argues that the income statement first approach is better than the balance sheet approach for the public sector.
Subject and purpose of work: The study aims to analyze how the leading financial data of double-entry bookkeeping food processing enterprises reflect the effects of the indicated economic ...environment. Materials and methods: The evaluation was fundamentally based on ratios calculated based on the statement of financial position and the income statement, trend analysis, and financial indicators. Results: The number of Hungarian food processing enterprises has been gradually decreasing over the period under review. Both turnover and expenditure show linear growth at current prices, with increases in the various result categories. The asset structure is stable, and profitability is improving. Conclusions: The number of companies and employment in the sector has steadily declined in recent years while efficiency is increasing. The increase in profits in the food industry is remarkable for all branches of the economy. The sector is adapting well to the adverse effects of the changing economic environment.
Purpose: The purpose of this research is to see if total direct taxes (TDT) affect the growth of the country's income and well-being or stagnation and gaps based on the variables raised: Corporate ...Income Tax (CIT), Personal Income Tax ( TAP), Property Taxes (PT), Other Direct Taxes (ODT), as well as to explore which variables had a greater impact on income growth, welfare or gaps before and during the Covid-19 pandemic.
Theoretical framework: First, this research brought a new approach to explore the income statement through total direct taxes before and during the Covid-19 pandemic, then analyzed which variables there were increases in income, gaps, or welfare. Finally, an overview is given on how to promote and continuously increase state revenues and reduce gaps through TDTs.
Design/methodology/approach: The data were collected at the local and central levels in the state of Kosovo based on the audited financial and economic reports for the period (2014-2021) as well as through interviews with officials and directors in the finance department and with the Minister of Finance during 2017-2018, analyzing in detail all financial items for direct tax variables and their impact on government revenues, on the country's well-being or economic-financial gaps through descriptive analysis, factorial analysis, reliability analysis, multiple regression analysis using SPSS version 23.0 for Windows.
Findings: Based on analyzes such as PCA Matrix Loading Factors, PCA Model Summary- Multiple Linear Regression, Coefficients- TDT, the results showed that the variables (CIT=98%, R=.980, Sig=.000, F=148,854), (PIT=99%, R=.987, Sig.=000, F=220,841), (PT=90%, R=.902, Sig.=.000, F=26,240) are quite important and that they have influenced the increase in income and well-being of the country, while the variable (OTD=39%, R=.390, Sig.=000, F=1.079) has not influenced the well-being of the country during this period and that there are still some gaps that need to be improved before and during the Covid-19 pandemic. Therefore, greater weight in the collection of (TDTs) and an increase in well-being have been shown (PIT=.975, Cons=.136, Acu=99%), while gaps have been shown (ODT: Cons=.209, Acu =39%). It is recommended that the state should be careful in collecting revenues from (TDT) and especially (OTDs).
Research, Practical & Social implications: The limitations and implications of this research are that the study period is (8) years, the number of variables is limited to only (4) with their sub-variables (48), and it is only an analysis of one country. Therefore, for further analysis, a larger number of countries, periods, and variables can be taken into the research.
Originality/value: It will help countries to see where there is an increase in income and well-being and where there are gaps and a decrease in income and based on this, they should be careful in creating policies to encourage and increase income through (TDTs)
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