The Interrelation between the Professional Judgment of the Accountant and the Quality of Financial Reporting

Abstract

The urgency of the given research is defined by the fact that the improvement of financial reporting quality which is the basic source for the conduction of enterprise's financial state and results of activity analysis is continuously connected to the efficiency of assets and liabilities, their quantification and classification. The purpose of the research is to consider the basic approaches to the definition of financial reporting quality, to reveal interrelation between professional accounting judgment regarding accounting objects and forecast value of information introduced to users. Keywords: quality, limits the quality of financial reporting prognostic value of information, the discounted cost, qualitative characteristics of information for professional accounting judgment international standards

Formation of Reserves of Natural and Environmental Risks in the Accounting of Agricultural Organizations

“…The theoretical and methodological basis of the study was the scientific works of scientists dealing with the problems of accounting for estimated reserves and estimated liabilities, including those in agro-industrial complex organizations [7][8][9][10], as well as regulatory documents on accounting.…”

Improvement of the essence of professional judgment in accounting of Ukraine

“…Many foreign and national scientists touched upon the issue of professional judgment in accounting in their works [7][8][9][10][11][12][13][14][15][16][17]. In particular, some studies are focused on the situations where professional judgment of an accoun tant should be applied: the use of accounting principles, construction and implementation of accounting policies of the company and the valuation of accounting objects.…”

“…The vast majority of scientists accountants of the post Soviet era only begin exploring the issues of the essence of professional judgment due to the lack of mechanisms of its implementation in the accounting system, considering professional judgement as a process or a set of specific actions of an accountant in response to certain conditions [12][13][14]17]. Furthermore, some studies are devoted to the classification of professional judgment by various features and factors influencing it [9,[15][16][17][18].…”

“…Furthermore, an important condition for high quality valid results is to analyse international [1][2][3][4] and national laws and regulations [5,6], as well as the approaches of na tional and foreign scientists [7][8][9][10][11][12][13][14][15][16][17][18][19][20].…”