Options for Organizing the Process of Transition to Preparation of the IFRS Reporting
Journal Title: Бізнес Інформ - Year 2015, Vol 9, Issue 0
Abstract
The article is aimed at systematization of frameworks, identifying opportunities and threats in the use of insourcing, outsourcing and co-sourcing as options for organizing the process of transition to preparation of IFRS reporting and choosing the most optimal among them. Definition of insourcing, outsourcing and co-sourcing has been formulated, their advantages and disadvantages have been systematized, opportunities and risks that accompany their use have been disclosed. Criteria for assessing insourcing, outsourcing and co-sourcing in terms of their impact on organizing the process of transition to preparation of IFRS reporting have been elaborated. An authorial expert assessment of the criteria identified has been carried out according to the 3-point scale that reflects the risks, disadvantages, advantages and possibilities of insourcing, outsourcing and co-sourcing for companies. It has been substantiated that insourcing is a clear «leader» concerning the promptness of decision-making, flexibility of the transformation process, responsibility of workers and preservation of confidential information. It has been proven that co-sourcing creates more opportunities for the company's employees involved in the process of transition to preparation of the IFRS reporting, provides high quality of financial reporting, while outsourcing is accompanied by significant risks. It has been substantiated that co-sourcing, i.e. cooperative effort of the company's internal staff and the involved professionals, is the best option for organizing the transition to preparation of the IFRS reporting.
Authors and Affiliations
Olena Kharlamova
Keywords
Related Articles
- EP ID EP111902
- DOI -
- Views 106
- Downloads 0
Modeling and Forecasting the Development of the System of Organizational Knowledge in the Structure of Vocational Education
The article's primary focus is on substantiating and building a development model of the system of organizational knowledge in the structure of vocational education of industry workers, as well as application of this mod...
Problems and Prospects of Improvement of Accounting in Ukraine: Theoretical-Applied Aspects and International Requirements
Objectives of this article are: formulation of theoretical reasoning and formalization of the method for substantiating the expediency of selecting particular type of accounting; elaboration of suggestions on improving t...
Specific Features of Accounting Logistical Costs in Companies
The article analyses problems of accounting logistical costs in modern domestic companies. Due to the fact that logistical costs are included into the cost of finished products and influence its price significantly, it i...
Forms of Public-Private Partnership in Ukraine
The article is aimed at systematization of legal possibilities for provision of functioning and development of the State-owned industrial enterprises of Ukraine by means of public-private partnership as an alternative to...
Prospects of Socio-economic Development of Frontier Territories within the Framework of International Co-operation Donbass Euro Region
The article studies potential and prospects of international co-operation within the framework of a special frontier formation - Donbass Euro Region, which includes Rostov oblast of Russian Federation and Donetsk and Lug...