Assessing the Usefulness of Small Businesses' Financial Reporting Information: the National Aspect of the Republic of Moldova

• Autorzy: Irina Golochalova

Warianty tytułu

Ocena użyteczności informacji zawartych w sprawozdawczości finansowej małych przedsiębiorstw: aspekt krajowy Republiki Mołdawii

• Języki publikacji: EN

Abstrakty

EN

Much research has been aimed at resolving such issues as the quality of financial reporting and harmonization of report preparation methodology. In this regard, the objective is to identify a number of problems in the accounting system of the Re- public of Moldova, which reduce the usefulness of small business financial reports, and develop practical recommendations to improve the quality of the financial reporting information content. The research has been conducted using both the general scientific and special methods, i.e., system approach, comparison and con- tent analysis, synthesis, modeling. The main methods, on the basis of which the research algorithm has been constructed, entail content analysis and comparison. A conceptual analysis of the accounting and reporting system's regulatory provi- sions and legal framework has been carried out; individual accounting methodolo- gy terms have been conceptually interpreted; a conceptual assessment 'Changes in Equity Statement' information perimeter and its usefulness has been conducted. The research is of scientific significance in terms of improving the conceptual appa- ratus and determining the development prospects for the national accounting sys- tem. The proposed changes in the regulatory and legal framework of the RM ac- counting system, as well as the recommended reconstruction of the Changes in Equity Statement are of practical importance. The study show a perspective on eliminating the ambiguity and paralogism in the conceptual apparatus of the national accounting system. It also presents a view- point on the modeling of financial reporting and the formation of optimal parame- ters for the quality and informativeness thereof.(original abstract)

Wiele badań poświęcono rozwiązaniu takich kwestii jak jakość sprawozdawczości finansowej i harmonizacja metodologii sporządzania sprawozdań. Mając to na uwadze, celem artykułu jest zidentyfikowanie szeregu problemów w systemie rachunkowości Republiki Mołdawii, które zmniejszają użyteczność sprawozdań finansowych małych przedsiębiorstw, a także opracowanie praktycznych zaleceń, w celu poprawy jakości zawartości informacyjnej sprawozdawczości finansowej. Badania zostały przeprowadzone z wykorzystaniem zarówno ogólnych metod naukowych, jak i specjalistycznych, tj. podejścia systemowego, porównawczego oraz analizy treści, syntezy, modelowania. Główne metody, na podstawie których skonstruowano algorytm badawczy, obejmują analizę treści i porównanie. Przeprowadzono analizę konceptualną przepisów regulacyjnych i ram prawnych systemu rachunkowości i sprawozdawczości; dokonano interpretacji pojęciowej poszczególnych terminów metodologii rachunkowości; przeprowadzono ocenę konceptualną "Sprawozdanie ze zmian w kapitale własnym" i jego użyteczność. Badania mają znaczenie naukowe polegające na udoskonaleniu aparatu pojęciowego i określeniu perspektyw rozwoju systemu rachunkowości narodowej. Proponowane zmiany w zakresie ram regulacyjno-prawnych systemu rachunkowości, a także zalecana rekonstrukcja rachunku zmian w kapitale własnym mają znaczenie praktyczne. Opracowanie ukazuje perspektywę eliminacji niejednoznaczności i paralogizmu w aparacie pojęciowym systemu rachunkowości narodowej. Prezentuje również punkt widzenia na modelowanie sprawozdawczości finansowej i kształtowanie optymalnych parametrów jej jakości i informacyjności.(abstrakt oryginalny)

Słowa kluczowe

EN

Financial reporting; Small business; Accounting methodology; Information quality

PL

Sprawozdawczość finansowa; Małe i średnie przedsiębiorstwa; Metodologia rachunkowości; Jakość informacji

• Czasopismo: Przestrzeń, Ekonomia, Społeczeństwo
• Rocznik: 2022
• Numer: nr 21/1
• Strony: 89--115

Twórcy

autor

Irina Golochalova

• University State of Moldova

Bibliografia

• 1. Adintsova N., Zhuravleva E., Unification of Accounting Methodology: The Problem of Correlation Between the Concept of Multivariance and Comparabilitaty of Financial Statements, "Bulletin of the North Caucasus Federal University", № 2 (77), 2020, retrieved from: https://dspace.ncfu.ru/bitstream/ 20.500.12258/13945/1/25-29.pdf [accessed: 20.02.2022].
• 2. Alekseev M., Glinskiya V., Serga L., Pyatov M., On Evaluating Likely Misstatements in Financial Statements of Economic Entities, "Statistics Issues" 2019, Vol. 26. No. 7., retrieved from: https://voprstat.elpub.ru/jour/article/view/934, https://doi.org/10.34023/2313-6383-2019-26-7-20-32 [accessed: 10.07.2022].
• 3. Al-Smadi M- O., A Study of Capital Structure Decisions by SMES: Empirical Evidence from Jordan, "Academy of Accounting and Financial Studies Journal" 2019, Vol. 23, Issue 1, retrieved from: https://www.abacademies. org/articles/A-Study-of-Capital-Structure-Decisions-by-SMESEmpirical- Evidence-from-Jordan-1528-2635-23-1-340.pdf [accessed: 20.06.2022].
• 4. Alves S., Ownership Structure and Accounting Conservatism: Evidence from Portuguese and Spanish Listed Companies, "Academy of Accounting and Financial Studies Journal" 2020, Vol 24, Issue 6, retrieved from: https://www.abacademies.org/journals/month-december-year-2020-vol- 24-issue-6-journal-aafsj-past-issue.html. [accessed: 11.06.2022].
• 5. Bezruchuk S., Myskiv L., Problematic issues of comparability as a qualitative characteristic of useful information in financial statements, "Problems of theory and methodology of accounting, control and analysis" 2021, 3(50), retrieved from: https://doi.org/10.26642/pbo-2021-3(50)-3-7 [accessed: 14.02.2022].
• 6. Conceptual Framework for Financial Reporting, retrieved from: http://www.ctcp.gov.co/files/documents [accessed: 14.02.2022].
• 7. Dolghii Cr., Golochalova I., Tsurcanu V., The Financial Reporting of Micro and Small Enterprises in Moldova, [In:] "Financial Reporting of Micro and Small Enterprises (MSE) in Transition economies of Central and Eastern Europe", Polskie Wydawnictwo Ekonomiczne, Warszawa 2020.
• 8. Erhan L., Gaugas T., Policies for Small and Medium Sized Enterprises. Development in the Republic of Moldova: Results and Challenges, IBIMA Publishing, "Journal of Innovation and Business Best Practice" 2022, Vol. 2022, retrieved from: https://doi.org/10.5171/2022.706025 [acceessed: 06.07.2022].
• 9. Feleaga L., Feleaga N., Dumitrashcu L-M., IFRS financial accounting, Publishing ASE, Bucuresti 2017.
• 10. Gallardo-Vázquez D., Lizcano-Álvarez J. L., CSR-related competitiveness and legitimacy in MSMEs, "Economics and Sociology", 13(1), 2020, retrieved from: https://doi:10.14254/2071-789X.2020/13-1/4 [acceessed: 11.06.2022].
• 11. Government Degree No. 685 of September 13, 2012 in pursuance of the Strategy of the Republic of Moldova for supporting small and mediumsized enterprises on 2012-2020, retrieved from: http://lex.justice.md/ file/an.1_685.doc [accessed: 22.02.2022].
• 12. Golochalova I., Analysis of the Statement of Stockholdersʼ Equity in the Context of an Institutional Platform for Small Business Sector of the Republic of Moldova, "Journal of Finance and Accounting", Vol. 7, No. 5, 2019, retrieved from: doi: https://10.11648/j.jfa.20190705.12 [accessed: 20.02.2022].
• 13. Grigoroi L., N. Muntean, The Experience of the Republic of Moldova in Reforming the Accounting System and its Harmonization with IFRS and European Directives, "Bulletin of Taras Shevchenko National University of Kyiv", Economics 6 (201)/2018, retrieved from: https://doi.org/10.17721/ 1728-2667.2018/201-6/9 [accessed: 10.06.2022].
• 14. Guermazi W., International Financial Reporting Standards Adoption in the European Union and Earnings Conservatism: A Review of Empirical Research, "Academy of Accounting and Financial Studies Journal", Vol. 26, Issue 3S, 2022, retrieved from: https://www.abacademies.org/articles /international-financial-reporting-standards-adoption-in-the-europeanunion- and-earnings-conservatism-a-review-of-empirical-researc- 14325.html [accessed: 10.06.2022].
• 15. Guohui H., Meimei Z., Le Z., Quality of Accounting Information, Executivesʼ Background and Loans of Small and Medium-Sized Enterprises, "International Journal of Economics, Finance and Management Science", 2018, 6 (5), retrieved from: https://doi: 10.11648/ijefm.20180605.13. [accessed: 08.07.2022].
• 16. Hendriksen El. S., van Breda M. F., Accounting Theory, Moscow 2000.
• 17. Herbert J., Harto P., The Influence of Financial Reporting Quality, Family Ownership, and Audit Quality on Investment Efficiency, "Academy of Accounting and Financial Studies Journal" 2022, Vol. 26, Issue 1S, retrieved from: https://www.abacademies.org/articles/the-influence-of-financialreporting- quality-family-ownership-and-audit-quality-on-investmentefficiency- 13125.html [accessed: 08.07.2022].
• 18. Imaningati S., Ghozali I., Yuyetta E-N., The Role of Investor Pressure on the Effect of Integrated Reporting Disclosure on the Intellectual Capital Disclosure, "Academy of Accounting and Financial Studies Journal" 2022, Volume 26, Special Issue 1, retrieved from: https://www.abacademies.org/articles/The-role-of-investor-pressurethe- effect-of-integrated-reporting-disclosure-the-intellectual-capitaldisclosure- 1528-2635-26-S1-005.pdf [accessed: 08.07.2022].
• 19. Katkalo V., Resource Concept of Strategic Management: Genesis of Main Ideas and Concepts, "Vestnik (Herald) of Saint Petersburg University", Series 8. Issue 2 (32), 2002, retrieved from: https://cyberleninka.ru/article/n/resursnaya-kontseptsiyastrategicheskogo- upravleniya-genezis-osnovnyh-idey-i-ponyatiy-1 [accessed: 14.07.2022].
• 20. Kot S., Goldbach I. R., Ślusarczyk B., Supply Chain Management in SMEs- Polish and Romanian Approach, "Journal Economics and Sociology", 2018, 11 (4), retrieved from: doi: 10.14254/2071-789X.2018/11-4/9. [accessed: 22.02.2022].
• 21. Kurt A., Why and why is comparability of reporting so important?, "Bulletin GAAP" 2020, retrieved from: https://gaap.ru/news/160893/ [accessed: 14.07.2022].
• 22. Lazari L., Grigoroy L., Bajan M., Historical Course of Accounting in the Republic of Moldova: Realities and Trends, The International Scientific Conference dedicated to the 30th Anniversary of the establishment of the Academy of Economic Studies of Moldova, September 24th-25th, 2021, ASEM, Chișinău 2022, vol. 3, retrieved from: https://doi.org/10.53486/9789975155663.10 [accessed: 10.07.2022].
• 23. Law No. 287 of December 15, 2017 of the Republic of Moldova "On Accounting and Financial Reporting", with modification 27.02.2020, retrieved from: https://www.legis.md/cautare/getResults?doc_id=120938&lang=ru [accessed: 22.02.2022].
• 24. National Accounting Standards "Presentation of Financial Statements", approved by Order of the Ministry of Finance, No. 118 from August 06, 2013, with modification 09.12.2020, retrieved from: https://www.legis.md/cautare/getResults?doc_id=125371&lang=ru [accessed: 14.02.2022].
• 25. Rotaru D., Mihaila S., Codrean V., The role of financial-accounting information in the decision making process, "Journal of Social Sciences", No.5 (2), 2022, retrieved from: https://doi.org/10.52326/jss.utm.2022.5(2).14, https://jss.utm.md/2022/06/09/10-52326-jss-utm-2022-5-2-14/ [accessed: 10.07.2022].
• 26. Setyaningsih S., Kelle P., Barrier factors of supply chain management implementation in small and medium-sized enterprises: Evidence from Hungary and Indonesia, "Economics and Sociology", 14(4), 2021, retrieved from: https://doi:10.14254/2071-789X.2021/14-4/4 [accessed: 10.07.2022].
• 27. Van Greuning H., Koen M., International Accounting Standards. A Practical Guide, Sec. ed., Publishing "Vesi Mir", Moskow 2004.