Improvement of Methods for Detection of Signs 
of Errors and Omissions in the Financial Statements Based on Analytical Procedures

Improvement of Methods for Detection of Signs of Errors and Omissions in the Financial Statements Based on Analytical Procedures

Journal

  • Journal title: Accounting and Finance
  • ISSN: 2307-9878 (print) 2518-1181 (online)
  • Publisher: 'Institute of Accounting and Finance' Company with Additional Liability
  • Country of publisher: ukraine
  • Date added to EuroPub: 2019/Sep/28

Subject and more

  • LCC Subject Category: Economics, Economics, Business, Finance, Finance and Financial Services, Marketing, Management, Banks and Banking, Accounting
  • Publisher's keywords: financial statements, control, information, Methods, omissions, errors, analytical procedures
  • Language of fulltext: ukrainian, english, russian, polish, german
  • Full-text formats available: PDF
  • Time From Submission to Publication: 10

AUTHORS

    Kostyantyn Bezverkhiy

FULL TEXT

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ABSTRACT

Analytical work within enterprises aimed to prevent omissions of financial reporting data should play a leading role in the work program of accountant, analyst and auditor. The article is devoted to the improvement of methods for detection signs of errors and omissions in the financial statements by applying analytical procedures. It was established that the main issues at implementation of the concept of financial statements control in the enterprise are the lack of adopted methods to detect signs of errors and omissions in the financial statements based on analytical procedures and determining of their content. The sources of non-financial information that enables detection of analytical features of omissions in the financial statements are proposed. The characteristic is given to the indicators that alarm about the possible omissions of information in the financial statements. For identifying errors and omissions in the financial statements in the implementation practice of analytical procedures it is recommended to use Z-model of E. Altman for the purpose of checking the facts and receiving additional evidence of omissions of these financial statements.

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