ECONOMIC ACCOUNTING MODEL OF VALUE ADDED
Journal Title: The Institute of Accounting, Control, and Analysis in the Globalization Circumstances - Year 2016, Vol 1, Issue 1
Abstract
Introduction. From the point of view of the new institutional theory, the company is a broader concept than economic entity earns income for owners: it is viewed as a social and economic institution whose primary purpose is to contribute to the well-being of society. Institutional theory displays accounting for its social interpretation, explains the reasons for the expansion of the financial statements interested users list and consider the impact of the organization on the basis of the value added, the concept of which is inherently related to the theory of capital. Purpose is development of methods of economic accounting records, reporting and accounting analysis of value added (as well as other indicators of economic output — intermediate consumption, consumption of fixed capital disposable income of organization) in conjugation with stages of capital transformation, in context of real-cash collateral, as well as from the perspective of a differentiated approach to "filling" economic turnover indicators for the purpose of management at the micro and macro level. Methods. General scientific method of knowledge, analysis, synthesis, induction, deduction, scientific abstraction, logic synthesis, simulation, comparing, reasoning by analogy, a systematic approach. In our research, we decompose a new object of accounting (value added) to the stages of movement of capital. Our proposed method of accounting and financial reporting can track the formation and movement of value added along the entire chain of transformation of capital in the context of its cash collateral. We have developed the system of organization efficiency indicators based on value added. Results and discussion. The development of accounting techniques of economic accounting records, reporting and accounting analysis of value added (as well as other indicators of economic output — intermediate consumption, consumption of fixed capital disposable income of organization) in conjugation with stages of capital transformation, in context of real-cash collateral, as well as from the perspective of a differentiated approach to "filling" economic turnover indicators for the purpose of management at the micro and macro level, which significantly expands the information base of financial management and enables us to establish convergence in the management of financial flows in various economic management levels.
Authors and Affiliations
Dmitri Pankov, Julia Kuhto
Keywords
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