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|Title:||Legal and economic components of modern accounting transformation|
|Authors:||Belousov, A. I.|
Белоусов, А. И.
Mikhailova, G. V.
Михайлова, Г. В.
|Keywords:||Legal accounting aspect;Professional judgment;Quality deterioration of the accounting information;Relevance|
|Publisher:||International Strategic Management Association|
|Citation:||Belousov, A.I., Mihajlova, G.V., Uzdenova, F.M., Blizno, L.V. Legal and economic components of modern accounting transformation // European Research Studies Journal. - 2018. - Volume 21. - Pages 34-40|
|Series/Report no.:||European Research Studies Journal|
|Abstract:||Complex transformational process characteristics of modern accounting have significantly influenced its three components; the economic, mathematical and legal aspect of modern accounting. Currently the predominant role belongs to the first one, but in the conditions of the digital economy development it is the mathematical one. It should be noted that the importance of commercial secrets prevent the transition to the information flows transparency while significant decrease of the legal accounting aspect can lead to certain quality deterioration of the accounting information. The main idea of this article is not only to discover the negative aspects connected with the weakening of legal accounting aspects, but also to show possible options of modern legal issues and implementations into the accounting practice. One of the main theoretical and methodological problems in this area is the intensive expansion of the multivariate accounting, based on professional judgment, which decreases the accounting procedures’ regulatory role. The authors consider necessary to propose a harmonious and balanced system of informational enrichment of public institutions’ activity of all the ties between the taxation process and its accounting support. As a result of this research, the authors came to the conclusion to structure formal and informal institutions that could influence the organization of accounting at a particular economic level moving from the advisory options of the accounting policy to the elements of discrete financial and business law based on the development of internal standards of economic entities|
|Appears in Collections:||Статьи, проиндексированные в SCOPUS, WOS|
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