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Ways to Better Information Transparency and Availability of Financial Reporting of Agricultural Companies

Author

Listed:
  • Volodymyr Kebko

    (National Scientific Centre 'Institute of Agrarian Economics', Kyiv, Ukraine)

Abstract

After Enron went bankrupt and the big audit 'five' became 'four', the subject of corporate reporting is still topical. The purpose of the article is to determine and substantiate the ways to better information transparency, availability and efficiency of agricultural company financial reporting in view of the world trends of its development. Shown are the motivation prerequisites for changing the traditional approaches to formation, presentation and publication of the agricultural company statements. On the basis of the study of the existing problems in efficient presentation (receipt) of the generalized statements on business entity activities, the urgency of switchover to online reporting is substantiated. Probable methods are described to implement the reporting concept in a real time mode: via unified online-platform, official web-sites, pages in social media. The advantages of the consolidated statement publication in Internet are grounded, which, to author's opinion, are the following: easier access to information higher public confidence in agricultural business, lower costs for comparison information search.

Suggested Citation

  • Volodymyr Kebko, 2015. "Ways to Better Information Transparency and Availability of Financial Reporting of Agricultural Companies," Oblik i finansi, Institute of Accounting and Finance, issue 4, pages 19-23, December.
    • Handle: RePEc:iaf:journl:y:2015:i:4:p:19-23
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    File URL: http://www.afj.org.ua/pdf/320-shlyahi-pidvischennya-informaciynoi-prozorosti-ta-dostupnosti-finansovoi-zvitnosti-silskogospodarskih-pidpriemstv.pdf
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    File URL: http://www.afj.org.ua/en/article/320/
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    More about this item

    Keywords

    accounting; information transparency; online-reporting; agricultural company; financial reporting;
    All these keywords.

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting

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