Improvement of the essence of professional judgment in accounting of Ukraine

Дерун, Іван

doi:10.15587/2312-8372.2017.98277

Cited by 3 publications

(2 citation statements)

References 6 publications

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“…An example of the first detailed publications is the article of Sоkоlоv and Terentyeva (2001). The development of the application of professional judgment of an accountant in different situations is reflected in the works of domestic and foreign researchers, in particular Len and Nekhay (2016), Gurina andDoyonko (2019), Yukhimenko-Nazaruk (2016), Tarasova (2017), Derun (2017). Negative aspects of the application of professional judgment of an accountant are analyzed by Golov (2011).…”

Section: Literature Reviewmentioning

confidence: 99%

Professional Judgement in Accounting: Contents and Conditions of Application

Фоміна

Zadniprovskyi

Svitlana

et al. 2022

Business: Theory and Practice

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The article considers the theoretical prerequisites and regulatory requirements that determine the practical approaches to the application of professional judgment in defining the best way to present reporting information. In the course of the research, the authors took as a basis the regulatory documents on the preparation of financial and integrated reporting, which take a principles-based approach and provide for the use of professional judgment. The authors assumed that the objects of a professional accountant are the facts of economic activity in order to identify, evaluate, recognize and reflect in the accounting and reporting of the company objects of accounting that are significant and of interest to users. The author investigated theoretical bases and practical aspects of application of professional judgment with the purpose of recognition of object and definition of its cost in the course of data collection, their analysis, and formation on their basis of professional judgment. The author has proved the need to adhere to the principle of additionality in finding the maximum complete description of the object and formulating a professional judgement about it. The author proposed a matrix model, which established the correspondence of risk levels and principles of application of professional judgment in accounting valuation and conducted an analysis of the conditions for the use of professional judgment in defining the fair value of financial instruments and inventories. The author considered the influence of uncertainties and corresponding risks in the application of professional judgment on the value of financial instruments and its adjustment in the conditions of unstable markets of countries with economies in transition. The author noted peculiarities of implementation of professional judgment in the process of preparation of financial and integrated reporting and the factors that determine them.

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Section: Literature Reviewmentioning

confidence: 99%

Professional Judgement in Accounting: Contents and Conditions of Application

Фоміна

Zadniprovskyi

Svitlana

et al. 2022

Business: Theory and Practice

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show abstract

“…Meaning that the high quality of information is capable of rising the quality of auditing. On the other hand, the author thinks [16] that global shifts in the economy cause the revision of the methodological foundations of accounting that leads to the increased application of professional judgment of an accountant. Let's believe that the increase of professional judgment of an accountant and auditor must be followed by the increase of qualification, level of professional ethics and responsibility of those who specialize in this field.…”

Section: Research Of Existing Solutions Of the Problemmentioning

confidence: 99%

The impact of auditor’s ethics on the quality of auditing the company's cash flows

Khovrak

Kozyarchuk

2017

TAPR

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Comparative Characteristics of Professional Accounting Judgments Classification Features

Zimina

Frolova

2020

Učët, analiz, audit

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The article is devoted to the problem of forming a unified conceptual model for the application of professional accounting judgment. The model takes into account not only the concept, but also the prerequisites, conditions of application and the process of judgment developing along with non-standard situations on which an accountant can express his competent opinion. The methodological framework of the study is based on the scientific developments of domestic and foreign scientists regarding the classification of professional accounting judgments and their comparative characteristics. The research methodology provides for the systematization of types of accounting judgments that affect the financial and economic activities of the organization. The result of the research is the development and justification of the author’s classification of accounting judgments singling out such classification features as organizational and legal form of a business, type and scope of economic activity, financial condition and accounting standards applied, which makes it possible to determine the purpose of professional judgment of an accountant. The further specification of classes and the development of classification features of professional accounting judgment will result in perceiving this category not only as a tool for solving applied accounting problems, but also as a conceptual platform built into the structure of accounting theory. The proposals based on the study are intended for effective use of accounting judgments as a comparatively new accounting and reporting tool to generate accounting and analytical information by the specialists of accounting departments of different organizations. The system of classification decisions will most fully define the role and designation of accounting judgments in accounting practice.

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Improvement of the essence of professional judgment in accounting of Ukraine

Cited by 3 publications

References 6 publications

Professional Judgement in Accounting: Contents and Conditions of Application

Professional Judgement in Accounting: Contents and Conditions of Application

The impact of auditor’s ethics on the quality of auditing the company's cash flows

Comparative Characteristics of Professional Accounting Judgments Classification Features

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