Financial reporting in adapting financial systems

Igor Yaremko, Olena Tyvonchuk

Abstract


In the article the modern problems of the world financial system functioning are considered. The basic causes of global financial instability are defined, in particular the separation of capitalization processes of the company from the real basis of social and economic development; discrepancy between financial (corporate) reporting and conditions of functioning of economic systems. Emphasis is placed on the necessity of the development of regulatory instruments that will prevent uncontrolled growth and spread of fictitious capital and creating updated format of financial reporting proper to the characteristics of post-industrial type companies.

Keywords


financial system; financial services market; financial architecture; formalized information; financial reporting

Full Text:

PDF

References


Andronova N.E., Problems of global financial architecture reforming in the context of financial globalization, “International research journal. Economic science” October 2012, http://research-journal.org/featured/economical/problemy-refomirovaniya-mirovoj-finansovoj-arxitektury-v-usloviyax-finansovoj-globalizacii/.

Baranowski O., On the way towards a new financial architecture, “Bulletin of the National Bank of Ukraine”, 2010, no. 11.

Belinskaya Y.V., Medvedkina E.O., The formation of the macroprudential approach to the financial system management, The analytical note 2012, http://www.niss.gov.ua/articles/996/.

DiPiazza S., Eccles R., Building Public Trust: The Future of Corporate Reporting, Alpina Publisher, Moscow, 2003.

Dmitrenko D.M., Ukraine in the context of the world financial system, “Foreign trade: the law and Economics”, The scientific review of the Ukrainian state University of Finance and International Economy, 2008, no. 3.

Financial architecture of the post-crisis world: efficiency and/or justice?, Summary of the report on the materials of the international study “Financial architecture of the post-crisis world: efficiency of solutions”, Institute of post-crisis world, April–May 2009, http://www.postcrisisworld.org/files/book_small_all.pdf.

Glushchenko O.V., Vectors of development of the institutional architecture of the financial services market of Ukraine, Bulletin of the Kharkov National University named after V.N. Karazin. Economic series 2011, no. 961.

Higgins R., Analysis for Financial Management, I.D. Vilyams, Moscow, 2007.

Koryahin M.V., Value assessment in the accounting system, Ltd. “NVP “Interservice”, Lviv, 2012.

Kulik V.A., Balance sheet – a tool for determining the real value of the property of the enterprise, “Scientific Bulletin of the Uzhgorod University”, Series “Economics”, 2010, vol. 29.

Kurylyak V., Financial and economic aspects of the global civilization landscapes of the world economy formation: the driving forces and theory, “World of Finance”, The scientific review of Ternopil National Economic University, 2010, no. 3.

Lukashenko S.V. The global monetary system in the context of the transformation of the global financial architecture, “Economic Annals – XXI”, 2011, no. 5–6.

Mard M., Hitchner J., Hyden S., Fair Value in the Financial Reporting, Marosejka, Moscow, 2011.

Mishenin E.V., Kosodij R.P., Bondarenko A.O., Transformation of the financial systems and their role in economic growth, Scientific works of Donetsk National Technical University, Economic series 2010, issue 38–3.

Naumenkova S., Formation of a new financial architecture: basic issues and potential challenges

for Ukraine, http://www.nbuv.gov.ua/portal/soc_gum/vnbu/2010_1/2010_01_4.pdf .

Pylypenko O.I., Corporate law in the accounting system: theory, methodology, organization, Thesis for obtaining the scientific degree of Doctor of economic sciences: specialty 08.00.09 – Accounting, analysis and audit, Zhytomyr State Technological University, 2010.

Sofіschenko I., Perspectives of reforming the global financial architecture: problems of reforming the IMF, Researches of the international economy: Collected scientific papers, The Institute of World Economy and International Relations of NAS of Ukraine, 2011, vol. 1 (66).

Stolyarchuk Y.M., Global financial imbalances and their consequences for global financial stability, “Problems of science”, 2009, no. 7.

Stutely R., The Definitive Guide to Managing the Numbers, Pearson Education Ltd; Balance Business Books, Dnipropetrovsk, 2006.

Umantsiv J., Modification of the global financial system in the conditions of new challenges, “Bulletin of the National Bank of Ukraine”, 2010, no. 4.

Wendy McKenzie, Using and Interpreting Company accounts, Balance Business Books, Dnipropetrovsk 2006.

Zakernichnaya A.V., Features of disclosing of the information on financial instruments in accordance with the requirements of international financial reporting standards, “Scientific Bulletin of the Uzhgorod University”, Series “Economics”, 2010, vol. 29.




DOI: http://dx.doi.org/10.17951/h.2013.47.4.143
Date of publication: 2015-07-23 22:46:01
Date of submission: 2015-07-23 21:00:04


Statistics


Total abstract view - 523
Downloads (from 2020-06-17) - PDF - 0

Indicators



Refbacks

  • There are currently no refbacks.


Copyright (c) 2015 Igor Yaremko, Olena Tyvonchuk

Creative Commons License
This work is licensed under a Creative Commons Attribution 4.0 International License.