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2019 | 10 | nr 1 | 193--210
Tytuł artykułu

Relationship between Legislation and Accounting Errors from the Point of View of Business Representatives in the Czech Republic

Treść / Zawartość
Warianty tytułu
Języki publikacji
EN
Abstrakty
EN
Research background: Previous studies have demonstrated that providing relevant information to users is positively affected by higher quality of accounting standards and adhering to ethical rules and accounting principles by accounting professionals. On the other hand, there are a lot of cases when the law was broken. The most common reason for committing financial statement´s fraud include increasing stock prices, getting loans from bank or avoiding payment of taxes.
Purpose of the article: The aim of this paper is to evaluate both the relationship between using of legislation and accounting errors rate in the financial statements as well as the possible using of creative accounting from the point of view of enterprises and non-profit organizations in the Czech Republic.
Methods: Among the quantitative research methods the questionnaire was used. The questionnaires were sent out to randomly 201 selected enterprises and non-profit organization. The survey was conducted from September 2017 to the end of January 2018. The data were analyzed by means of the tools of descriptive statistics and the chi-square goodness of fit test. The research questions sought to investigate whether Czech Accounting Standards helped in all areas of accounting and reporting and avoiding of errors in financial statements, and whether the respondents encountered fraudulent procedures in compiling financial statements.
Findings & Value added: The results indicated that using Czech Accounting Standards was perceived as a useful tool in solving all situations in areas of accounting and avoiding accounting errors. Moreover, it was proved that the volume and frequency of errors were not significant in financial statements. (original abstract)
Rocznik
Tom
10
Numer
Strony
193--210
Opis fizyczny
Twórcy
  • Tomas Bata University in Zlín, Czech Republic
autor
  • Tomas Bata University in Zlín, Czech Republic
  • Tomas Bata University in Zlín, Czech Republic
  • Tomas Bata University in Zlín, Czech Republic
Bibliografia
  • Adali, S., & Kizil, C. (2017). Research on the responsibility of accounting professionals to determine and prevent accounting errors and frauds. Emerging Markets Journal, 7(1). doi: 10.5195/EMAJ.2017.129.
  • Elliott, B., & Elliott, J. (2011). Financial accounting and reporting. London: Financial Time Prentice Hall.
  • Glancy, F. H., & Yadav, S. B. (2011). Computational model for financial reporting fraud detection. Decision Support Systems, 50(3). doi: 10.1016/j.dss.2010.08.010.
  • Chaney, P. K, Faccio, M., & Parsley, D. (2011). The quality of accounting information in politically connected firms. Journal of Accounting and Economics, 51(1). doi:10.1016/j.jacceco.2010.07.003.
  • Kopun, D. (2018). A review of the research on data mining technologies in the detection of fraud in financial statements. Journal of Accounting and Management, 1(8).
  • Li, M., Ning, X., Li, M., & Xu, Y. (2017). Approach to the evaluation of the quality of accounting information based on relative entropy in fuzzy linguistic environments. Entropy, 19(4). doi: 10.3390/e19040152.
  • Mamo, J. (2014). Accounting errors and the risk of intentional errors that hide accounting information. The importance and the implementation of the Sarbanes-Oxley Act in Albania. Mediterranean Journal of Social Sciences, 5(19). doi: 10.5901/mjss.2014.v5n19p494.
  • Ngai, E. W. T., HU, Y., Wong Y. H., Chen, Y., & Sun, X. (2011). Application of data mining techniques in financial fraud detection. Decision Support Systems, 50(3). doi: 10.1016/j.dss.2010.08.006.
  • Otrusinová, M., & Šteker, K. (2013). An analysis of using accounting information for financial management in Czech companies. International Journal of Mathematical Models and Methods in Applied Sciences, 7(4).
  • Porter, G. A, & Norton, C. L. (2015). Using financial accounting information: the alternative to debits and credits. Mason: South-Western Cengage Learning.
  • Puican, L., Avram, M., & Dutescu, M. (2011). The importance of accounting information quality in the performance of statutory audit. Annals of University of Craiova - Economic Sciences, 3(39).
  • Ramos, M. (2003). Auditors´ responsibility for fraud detection. Journal of Accountancy, 195(1).
  • Ravisankar, P., Ravi, V., Raghava Rao, G., & Bose, I. (2011). Detection of financial statement fraud and feature selection using data mining techniques. Decision Support Systems, 50(2). doi: 10.1016/j.dss.2010.11.006.
  • Türkmen, B. (2016). Errors and abuses in financial accounting and results. Procedia Economics and Finance, 38(1). doi: 10.1016/S2212-5671(16)30179-4.
  • West, J., & Bhattacharya, M. (2016). Intelligent financial fraud detection: a comprehensive review. Computers & Security, 57(1). doi: 10.1016/j.cose.2015.09.005.
  • Zhou, W., & Kapoor, G. (2011). Detecting evolutionary financial statement fraud. Decision Support Systems, 50(3). doi: 10.1016/j.dss.2010.08.007.
  • Zicke, J., & Kiy, F. (2017). Effects of accounting standards on the financial reporting properties of private firms. Business Research, 10(2). doi: 10.1007/s40685-017-0051-1.
Typ dokumentu
Bibliografia
Identyfikatory
Identyfikator YADDA
bwmeta1.element.ekon-element-000171550045

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