Financial statements of banking institutions under IFRS as the main element of accounting

Shendryhorenko, Maryna and Шендригоренко, Марина Трохимівна and Шендригоренко, Марина Трофимовна and Shevchenko, Liubov and Шевченко, Любов Ярославівна and Шевченко, Любов Ярославовна and Lyadska, Vitaliyа and Лядська, Віталія Валеріївна and Лядская, Виталия Валериевна (2020) Financial statements of banking institutions under IFRS as the main element of accounting. Економіка. Фінанси. Право (11/1). pp. 38-40. ISSN 2409-1944

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Abstract

The objective of the article is to determine the methodology of accounting and internal control of equity of the enterprise with the development of proposals for improvement. The methodological basis of the study is general and special methods of cognition: analysis and synthesis, induction and deduction, theoretical generalization, grouping and classification, logical generalization, and comparative comparison. Methods of concretization, observation are used in the study of methods of accounting and internal verification of equity of the enterprise. The graphic method is used to visualize the document flow during the preparation of the Statement of Equity, as well as the criteria for the functioning of the internal control system in the joint-stock company. Proposals for determining the list of tasks and procedures for checking equity are developed applying methods of specification and systematization. As a result of research of variable authors’ approaches to definition of functions of capital offers on their concretization and expansion of the list of functions in system of management of own capital are given. The documentary scheme of the Report on the capital in the Public joint-stock company is offered. It is substantiated that the internal control carried out by the head of the enterprise directly or through his authorized bodies in accordance with the statute should be organized according to the relevant criteria, which are developed and schematically presented to ensure an effective system of internal control in the company. To increase the effectiveness of internal control of equity components, the list of tasks of their internal and external audit is specified. When conducting an internal audit of equity components, a systematic list of control procedures is proposed, which must be used by the internal auditor at the enterprise. The practical use of the results of the study will increase the efficiency of the control system of equity transactions and prevent violations. The practical use of the results of the study will increase the efficiency of the control system of equity transactions and prevent violations.

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