Складання фінансового звіту у контексті управлінської парадигми

Abstract

Financial statements are the main source of information showing the performance of an enterprise and its financial state. They are need for business management, analysis, internal and external audit, owners and state, investors, society. The set of financial statements is prepared by summarizing the company s financial year data. To prepare accountability, data is pre-accumulated and grouped in accounting records, synthetic and analytical accounting registers according to general principles: continuity, periodicity, permanence, prudence, monetary measure, accumulation, neutrality, relevance of content, importance of information (the most important ones, and necessary to know). These accounting principles are followed in the EU countries. According to A. Ivanauskienė, an annual stocktaking must be carried out before the annual financial statements are drawn up [3]. Accounting policy part includes accounting principles and a brief description of accounting methods and rules that are used by the entity in accounting and financial reporting. [2]. Accounting policies are general accounting principles, accounting methods, and rules intended for accounting management, formation and submission of financial accountability - the definition is provided by A. Ivanauskienė [3]. For more information on accounting policies is written 6 BAS - the explanatory note of the accounting policy part should state that financial statements are prepared in accordance with business accounting standards. Other legal acts that have been used for accounting management and financial reporting purposes [1] are also included. At the end of the company s financial year, we have to prepare not only financial statements, but also to analyze it properly. Because only by submitting an annual analysis of financial statements we will be able to evaluate the company s performance and position. We will be able to determine whether the company s performance is profitable, whether by putting together and discussing all the reports, there is a risk for the company s future plans. Problem and Relevance - it is very important that the financial accountability reports would be prepared correctly and would perform their intended purpose. Accurate accumulation and systematization of accounting information allows to account correctly assets, capital, income and expenses. Otherwise, false information will result in distorted analysis results and its users will make wrong decisions. The aim of the work is to analyze the content of financial statements, principles of formation and use of data. Research object - financial accountability. Research objectives: 1. To analyze the essence and importance of financial accountability, to provide a systematic description of financial accountability. 2. To provide a procedure for regulating accountability and how to allocate it. 3. To set requirements for financial reporting. 4. To prove the importance of financial reporting with respect to companies. Research methods - analysis of scientific literature, including the comparison of theoretical statements, methods of generalization, logical and graphical representation. Conclusions: Financial statements should reflect fair information about the financial position and performance of the entity, as well as provide necessary information to internal and external users and disclose relevant information about significant events occurring during the reporting period. Preparation of financial statements is regulated by: Law on Accounting of the Republic of Lithuania, Law on Financial Accountability of the Republic of Lithuania, Consolidated Financial Accountability Compilation of the Republic of Lithuania, International Business Accounting Standards, National Business Accounting Standards, Accounting Policies shaped in the company. The data presented in the annual financial statements shall be prepared in accordance with the general accounting principles. The information received in the reports must be compared to the previous reporting periods and to the performance of other companies. The data obtained are needed for economic analysis, audit, planning of the company performance and forecasting