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The Unique Opportunities Of Accounting To Promote Transparency Of Economic Processes

Author

Listed:
  • Tetyana Slyozko
  • Lyudmila Kurilo
  • Oleksandra Mazina

    (Science and Research Institute of Social and Economic Development, Ukraine
    National University of Kyiv-Mohyla Academy, Ukraine
    University of the State Fiscal Service of Ukraine)

Abstract

The article is devoted an important role the Institute of Accounting in the modern economy. This role is supported by unique institutional and informational opportunities determined by its specific characteristics. On the one hand, accounting is the legislative and normative institution through which the controlling and regulating institutions influence the economic processes occurring at each enterprise. On the other hand, the accounting system creates an information database on the actual economic activity of each enterprise required by users. Such a database is formed due to the fact that accounting is an exclusive registrar of business activities: documentation, inventory, assessment, calculation, accounts, double-entry bookkeeping, balance, reporting. These methods have such a mathematical feature that has made it possible to fully them with the latest information technologies. All of these factors allow accounting to provide transparent accounting information to any users and institutions.

Suggested Citation

  • Tetyana Slyozko & Lyudmila Kurilo & Oleksandra Mazina, 2018. "The Unique Opportunities Of Accounting To Promote Transparency Of Economic Processes," Copernican Journal of Finance & Accounting, Uniwersytet Mikolaja Kopernika, vol. 7(4), pages 115-125.
    • Handle: RePEc:cpn:umkcjf:v:7:y:2018:i:4:p:115-125
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    References listed on IDEAS

    as
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    2. David Campbell & Matthias Klaes, 2005. "The principle of institutional direction: Coase's regulatory critique of intervention," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 29(2), pages 263-288, March.
    3. Navarro-García, Juan Carlos & Madrid-Guijarro, Antonia, 2016. "Real economic activity and accounting information in Spanish construction and real estate firms," Revista de Contabilidad - Spanish Accounting Review, Elsevier, vol. 19(1), pages 21-30.
    4. Robalo, Rui, 2014. "Explanations for the gap between management accounting rules and routines: An institutional approach," Revista de Contabilidad - Spanish Accounting Review, Elsevier, vol. 17(1), pages 88-97.
    Full references (including those not matched with items on IDEAS)

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