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Results in Journal Buhalterinės apskaitos teorija ir praktika: 108

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Aleksandra Pečiūrienė
Buhalterinės apskaitos teorija ir praktika pp 1-1; https://doi.org/10.15388/batp.2022.40

Abstract:
Attraction of advanced students interested in studying at HEIs for an accounting major degree internationally remains a constant challenge to the accounting profession since the 1990s. To meet the demands it faces, the profession needs to be attractive for students who have the potential to become both technically competent professionals with good analytical abilities and communicative team players, able to understand the expanding business environment and think creatively. Unfortunately, there is a risk that potential students may possess false perceptions of accounting practices and profession. The aim of the research is to explore the perceptions of accounting of the students enrolled in the studies for non-accounting major degree of Professional Bachelor in Business Administration at Lithuanian HEIs. Foremost, the paper analyses the studied assessing approaches and tools used in the notable prior research on the topic. This is followed by the revealed methodology and analysed findings for the research carried out. One of the more important discovers was that the female students assessed the accounting significantly as more definite, boring, precise, and compliance driven than male students. Even considering the abovementioned differences, the results of the perception factors’ analysis strongly suggest that the surveyed students despite their gender in the mass hold traditional stereotypical perceptions of accounting. Due to sufficient number of the surveyed students, findings in overall are applicable to the target group of the research. Finally, the paper provides conclusions, limitations and insights for feasible further research in the study area.
Audrius Masiulevičius
Buhalterinės apskaitos teorija ir praktika pp 2-2; https://doi.org/10.15388/batp.2022.41

Abstract:
Financial statements may be misstated for quantitative reasons, such as mathematically incorrect reporting of assets, liabilities or other. Misstatements in the financial statements may also be qualitative. It is the qualitative characteristics of the misstatement that reflect the significance of the misstatement not for mathematical magnitude, but for other reasons, such as changes in profitability trends or illegal activities. To date, auditors have dedicated more attention to the quantitative characteristics of misstatements and the qualitative characteristics have not been adequately assessed. And although the problem is well known to scientists and practitioners, little action has been taken to date. The objective of the study reflected in this article is to identify the key qualitative characteristics that auditors should consider in deciding the significance of the misstatements identified in the financial statements. A list of fifteen key qualitative characteristics was compiled during the study and the completeness of the list was confirmed by an expert survey. The list of key qualitative characteristics will not only assist the auditors in deciding on the significance of the misstatements identified but may also be used in further research to deepen the scientific knowledge of the qualitative characteristics.
Irma Kamarauskienė
Buhalterinės apskaitos teorija ir praktika pp 5-5; https://doi.org/10.15388/batp.2021.39

Abstract:
Financial analysis is an analysis of an entity’s financial performance and position to assess its achievements and prospects, as well as, to provide the financial managers with quality up-to-date information that will help them make the right decisions in the future. The financial analysis concerns the forecasting, accounting, planning and control of certain economic activities. However, financial analysis is mainly linked to private sector entities. The issues of financial analysis of public sector entities in scientific work are addressed in a fragmented way. There is still a lack of not only scientific but also practical work to analyse the issues of financial analysis in the public sector. The article presents a modified model for the financial analysis system, the analysis indicators to be applied and their combinations. In addition to traditional indicators, the presented system includes indicators of public interest and development. The system may be used for analysing the state of public sector entities. Its results may be useful for different users of information in making appropriate decisions. Research object: the financial analysis of public sector entities. The purpose of the research is to establish a unified and modified model of the system for conducting the financial analysis of the public sector entities. Tasks: to describe the logical sequence of financial analysis after analysing and summarising the theoretical and practical aspects of the analysis of the financial position of public sector entities; to identify and group indicators for analysing the financial position of the public sector. Research methods: analysis of scientific works, methods of information grouping, comparing, detailing, generalizing.
Daiva Raziūnienė, Karolis Čirba
Buhalterinės apskaitos teorija ir praktika pp 4-4; https://doi.org/10.15388/batp.2021.38

Abstract:
An application of the most inovative technologies of the big data processing is the high challenge for financial statement auditors. The term “big data” refers to large amount of digital data that may be used to reveal issues, prospective and relations of human behaviour and actions. For instance, international and national audit companies are using big data analytics to identify risk and fraud during audits. The purpose of the article is to identify barriers to the integration of big data into external financial audit procedures. The object of the research is big data models and their components. Tasks formulated to achieve the goal: 1) after examining the concept of big data presented by various authors, to determine the role of big data in the audit of external financial statements; 2) to identify the factors that hinder the integration of big data into audit evidence collection procedures. Research methods used in the article include the content analysis of scientific literature.
Diana Bachtijeva
Buhalterinės apskaitos teorija ir praktika pp 3-3; https://doi.org/10.15388/batp.2021.37

Abstract:
The advent of creative accounting in the middle of the 20th century sparked great interest among researchers and practitioners. In the work of both foreign and Lithuanian scientists, this phenomenon is widely researched and defined as the ability to use the flexibility of legal acts in order to reflect subjective information in financial statements. However, in contrast to foreign literature, linguistic interpretations of the term "creative accounting" appeared in Lithuanian literature, which gave this phenomenon a positive meaning, associated with creativity and identified as positive creative accounting. The article examines the concept of creativity, its relationship with accounting, assesses the compatibility of creativity with creative accounting. Based on the analysis of the literature, it is proposed to refuse to divide creative accounting into positive and manipulative, as such a division not only contradicts the concept of creativity, but also undermines the essence of accounting and its multiplicity.
Inga Liutkevičiūtė, Ramunė Budrionytė, Rasa Subačienė
Buhalterinės apskaitos teorija ir praktika pp 2-2; https://doi.org/10.15388/batp.2021.36

Abstract:
The ever-changing economic environment changes the business conditions and performance and requires to reflect the changes on accounting information of legal entities. The development of International Financial Reporting Standards (IFRS) is a dynamic and complex process, which helps to provide fair and true information on legal entities. Although, it’s important to evaluate the changes of accounting standards by preparers of financial statements and the users of the information. The purpose of the research is to determine the impact of significant changes of international financial reporting standards on the financial indicators of the companies during 2017-2020 period. Research methods of comparative analysis of scientific literature and legal acts, content analysis, case analysis, grouping of information, systematization, comparative analysis and generalization were used. Main research results state that in 2017-2020 the key changes were related to three standards: IFRS 9 - Financial Instruments, IFRS 15 - Revenue from Contracts with Customers and IFRS 16 - Leases. The study of the impact of the application of the new standards on the financial indicators of 24 Lithuanian listed companies revealed that the new IFRS 16 had the greatest impact on the financial indicators of the companies. The first time, the application of IFRS 16 had a significant impact on 6 of the 24 companies analysed. There was a negative impact on liquidity and solvency ratios, working capital, return on assets and the turnover of assets.
, Neringa Raštutytė
Buhalterinės apskaitos teorija ir praktika pp 1-1; https://doi.org/10.15388/batp.2021.35

Abstract:
Due to the lack of research in social business sustainability development, it is necessary to investigate this problem, seeking community wellbeing. The goal of this paper is to elucidate the importance of sustainability development in relation to its different dimensions and the relationship between consumer perception and sustainability development. A systematic scientific literature analysis was performed. The results show that although sustainability is one of the main aspirations of companies, it is still difficult to achieve for effective transformation. The framework also reflects that sustainability is a particular change that has to be implemented over time, involving not only the business itself but also the surrounding environment (other systems). Furthermore, to achieve sustainable development it is essential to define which sustainability indicators will be selected, how they will be measured, and how the results will be tracked. A sustainable social business model must not be considered in isolation from its surrounding environment. Moreover, it is relevant to identify the public opinion, i.e., potential consumers, regarding effective sustainability development in order to get a more efficient result.
Deimantė Morkūnaitė, Daiva Raziūnienė
Buhalterinės apskaitos teorija ir praktika pp 6-6; https://doi.org/10.15388/batp.2021.34

Abstract:
The reports of the heating sector are one of the most important sources of heating data, accurate and reasonable pricing and is an essential objective of public interest. The verification of the reports on regulated activities is particularly important to regulate interpretation of the principles of companies’ operating cost and accounting separation systems. The purpose of the article is to identify the main elements of the regulatory activities report whereas have to be improved and needs more attention of auditors and regulators. There were examined 52 reports of Lithuanian heating sector companies using document (content) analysis approach. Misstatements were analysed using specific evaluation criteria to identify areas for improvement. The development of an appropriate methodology and the efficient functioning of the process should help to avoid errors or inaccuracies in determining, fair recognition, disclosure and valuation of fixed assets as an essential factor of heating prices.
Diana Bachtijeva
Buhalterinės apskaitos teorija ir praktika pp 5-5; https://doi.org/10.15388/batp.2021.33

Abstract:
The article describes the bonus plan, debt/equity and political cost hypotheses, based on a positive accounting theory, with reference to opportunistic approach, explaining the reasons for choosing accounting methods. Research based on these hypotheses has revealed the main types of financial information manipulation - earnings management and creative accounting. After conducting the analysis of scientific sources, the article presents the definitions of earnings management and creative accounting of various authors, distinguishes the types of earnings management – accrual-based earnings management and real earnings management. After analyzing the manipulation methods indicated in the literature, a comprehensive list of profit management and creative accounting methods are presented. The methods are structured and classified according to their compliance with accounting standards, types of profit management and their impact on accounting areas. The provided list and classification of methods is useful in a scientific sense for further research on this phenomenon.
Ieva Turskytė, Alfreda Šapkauskienė
Buhalterinės apskaitos teorija ir praktika pp 3-3; https://doi.org/10.15388/batp.2021.31

Abstract:
In 2008, a global financial crisis happened. It led to strong currency price volatility. Because of that, discussions on the need for an alternative, institution-independent currency occurred. Due to this reason the first decentralized cryptocurrency Bitcoin was created. The new and not yet explored concept of cryptocurrency changed the previously strictly defined role of money. Currently, with the growth of the cryptocurrency market, the most important regional institutions (e.g. FED, EBA) provide regulatory guidelines of a recommendatory nature. The regulations of these institutions remain significant, reflecting the dominant approach to digital money. Because of this reason, the aim of the study is to identify the factors that determine the difficulties in the legalization process of cryptocurrencies and to investigate the features of the European Union's cryptocurrency regulatory policy. Methods used: analysis of scientific literature and legal documents, systematization, comparison, interpretation and generalization of information. The results of the study show that the European Union has taken active regulatory action with the growing importance of cryptocurrencies in the world. To date, a document regulating the definition of cryptocurrencies has not yet been adopted at Union level, but the adoption of the cryptocurrency regulation proposal presented in 2020 would mean greater clarity and security for cryptocurrency issuers, intermediaries and users.
Kotryna Nagytė, Lina Dagilienė
Buhalterinės apskaitos teorija ir praktika pp 4-4; https://doi.org/10.15388/batp.2021.32

Abstract:
Annotation. Big Data (BD) is one of the most commonly used terms in the modern world of business and information technology. The main features of BD (quantity, speed, and variety) introduce to unique processing of large information amounts, regardless of their scale, storage and computational complexity, analytical and statistical correlation. The significant emergence and potential use of BD has affected business accounting and financial auditing by replacing the long-used mechanical data collection and completion processes with automatic ones, comparing and searching for correlations between different structure and nature data. According to analysis, the main advantages of applying the BDA in the audit process are related to faster and more efficient execution of procedures, obtaining more detailed results, grouping and comparing data according to selected criteria. In the meantime, cons of BD application are related to the additional professional supervision requirements and the proper data analysis in order for the correct results interpretation. The paper presents the conceptual model, which shows the relationships between BDA tools and financial audit procedures. In addition, the model shows factors and risks, which have impacts on internal and external environment of clients, the applicability of specific audit procedures. It was found that the application of the model in the procedures includes testing of 5 relationships, i. e. classification, clustering, regression and time series analyses, the method of association rules and text research, visualization tool. The Aim of the Study is to identify the application of DDA tools in financial audit procedures. Research Methods: comparative and systematic analysis of the literature; content analysis; statistical data analysis; graphical analysis. Keywords: Big data, Big data Analytics, Financial Audit, Financial Audit Procedures. JEL Code: M15, M40, M42.
Rasa Kanapickienė, Greta Keliuotytė-Staniulėnienė, , Daiva Budrienė, Mantas Valukonis
Buhalterinės apskaitos teorija ir praktika pp 2-2; https://doi.org/10.15388/batp.2021.30

Abstract:
The COVID-19 pandemic crisis differs in nature from the previous financial crisis and therefore different solutions must be taken. In this context, governments are seeking to help businesses deal with the effects of the pandemic, which have had the greatest impact on corporate liquidity. The analysis of government support measures in the context of the COVID-19 pandemic has shown that EU governments use not only direct but also indirect financial support to business. However, the latter is not sufficiently analysed in scientific works. The aim of the study is to analyse the measures of indirect financial support for business applied by EU governments and to provide the classification of the measures described. In order to achieve the aim, the following methods of scientific research were used: analysis, synthesis, induction, deduction, abstraction, and analogy of scientific literature, normative documents, reports and reviews of international organisations, and support measures applied in governments’ practice. The study developed an original structure of government indirect financial support measures for business, comprising three components of government support measures: (1) minimisation of legal norms related to corporate finance; (2) indirect financial assistance related to labour law; (3) strengthening the legal framework for corporate finance. The measures analysed are described in more detail by distinguishing them into separate groups. The structure developed is based on concrete examples of application in EU countries and could contribute to a more targeted approach to business support in the future.
Kamilė Medeckytė, Daiva Tamulevičienė
Buhalterinės apskaitos teorija ir praktika pp 1-1; https://doi.org/10.15388/batp.2020.29

Abstract:
In recent decades, as the newly created internal and external environment conditions have radically changed the environment of business, the process of creating and implementing business strategy became more relevant. The data, generated by strategic management accounting, makes this process more efficient. The article examines the concept of the strategic management, its importance and related instruments. The article provides results of the research carried out to determine the level of awareness and application of strategic management accounting instruments in Lithuanian companies. Empirical research has shown that the level of awareness and application of the strategic management accounting instruments in Lithuanian companies is minor. The most common strategic management accounting instruments are as follows: customer profitability analysis, benchmarking, competitive position monitoring, strategic pricing, and strategic costing. The least known and, according to the research, the least applicable strategic management accounting instruments are: attribute costing, product life cycle accounting and brand value budgeting. According to the study, the most significant reason for the difficulties in implementing strategic management accounting instruments is the lack of time required to implement the instruments.
Diana Bachtijeva
Buhalterinės apskaitos teorija ir praktika, Volume 22, pp 6-6; https://doi.org/10.15388/batp.2020.28

Abstract:
The beginnings of accounting can be found even in the 14st century, when trade transactions began to be recorded in the books of account. To this day, accounting has evolved at certain stages, depending on goals were set for the accounting for that period. In the article after concluding the analysis of scientific sources the following are presented: the stages of accounting development, which were influenced not only by different Anglo-Saxon, Germanic and Latin accounting systems, but also by economic and political factors; the influence of accounting on the development of accounting theories is revealed. The concept of positive accounting theory, assumptions for manipulating accounting and the concept and application methods of earnings management and creative accounting are presented. Based on the research, a model of multi-paradigm approach is presented, in which the methodologies of normative and positive accounting theory can be fully applied. The proposed complexity of methodologies can help to solve not only the problems of creative accounting and earnings management, but also other problems of the 21st century. accounting issues.
Lina Matusevičienė, Kristina Rudžionienė
Buhalterinės apskaitos teorija ir praktika, Volume 22, pp 5-5; https://doi.org/10.15388/batp.2020.27

Abstract:
Annotation. Tax planning is a topic of interest for taxpayers, practitioners, public authorities and academics. Analyzing scientific literature on tax planning shows that some authors are looking at the tax planning process, while others are looking at the factors that determine tax planning. Although there are a number of scientific literature analysing these factors, it is noted that there is a need to systematize this literature. The purpose of the article is to identify the determinants of tax planning activities in companies and households. Methods used in the article: systematic analysis of scientific literature, systematization of information, comparison, generalization. After analyzing the scientific literature, authors provide a concept of tax planning and selected determinants that encourage and inhibit the involvement of both types of taxpayers in tax planning activities. After a theoretical analysis, it was found that corporate tax planning is influenced by the company's profitability, profit begor taxes, internationalisation, the scale of foreign operations, listing, capital receptivity and growth, development, size and leverage of the company, optimism of the company CEO, experience of his military service, lobbying, reputation and financial accounting issues. Household tax planning is influenced by taxpayers' age, income, intra-household income inequality, experience, a compendium tax system, its complexity, fines, the likelihood ofecassionisation. Religiousity is a factor that hampers the involvement of both businesses and households in tax planning activities. Keywords: tax planning, determinants, tax avoidance, households, company. JEL Code: H26
, Natalija Kurauskienė
Buhalterinės apskaitos teorija ir praktika, Volume 22, pp 4-4; https://doi.org/10.15388/batp.2020.26

Abstract:
The emergence and popularity of the cryptocurrency has caused a great deal of controversy in the scientific community over market development opportunities, further use of virtual money, and its integration into traditional accounting systems. The global financial market creates many opportunities to use electronic and virtual money for various types of transactions, and the question of how to record cryptocurrency and related transactions in accounting remains relevant. The aim of the research is to evaluate the alternatives of cryptocurrency accounting. For the research methods of scientific literature analysis, comparison, interpretation, information systematization, generalization were used. Although various authors, national and international accounting standards regulators provide their insights and recommendations on cryptocurrency accounting, a unified system has not been formed yet. Currently are analysed such alternatives of cryptocurrency accounting as financial asset, intangible asset or inventory.
Gintarė Markauskienė
Buhalterinės apskaitos teorija ir praktika, Volume 22, pp 3-3; https://doi.org/10.15388/batp.2020.25

Abstract:
Keičiantis ekonominei situacijai aukščiausio lygmens vadovų kompetencijoms yra keliami itin aukšti reikalavimai: pradedant nuo funkcinio, formalaus vadovavimo, aiškiai apibrėžto statuso bei darbo funkcijų, baigiant šiuolaikinio lyderio paveikslu, kuris apima savyje begales kompetencijų ir netgi charakterio savybių bei nuolat keičiasi. Nagrinėjant mokslinės problemos ištirtumo lygį, pastebima, kad dažniausiai tiriama kompetencijų svarba, aukščiausio lygmens vadovų bendradarbiavimas, nagrinėjama asmeninio tobulėjimo, lyderystės tema, taip pat, kokios svarbiausios vadovų kompetencijos gali nulemti verslo sėkmę. Moksliniuose darbuose nėra keliami klausimai, kurie analizuotų aukščiausio lygmens vadovų kompetencijų kitimą laike bei lūkesčius kompetencijoms nuolat besikeičiančioje aplinkoje. Šio straipsnio tikslas yra įvertinti lūkesčių aukščiausio lygmens vadovų kompetencijoms kaitą gerųjų praktikų kontekste. Šiam tikslui pasiekti buvo atlikta mokslinės literatūros analizė, naudoti sisteminimo bei apibendrinimo metodai, analizuojama geroji praktika bei atliktas lūkesčių aukščiausio lygmens vadovų kompetencijoms tyrimas. Mokslinės literatūros analizės rezultatai atskleidė, kokios kompetencijų grupės yra labiausiai vertinamos šiandieninėje verslo aplinkoje, taip pat, kokias galimybes atvėrė bei kokius uždavinius iškėlė karantino režimas šių dienų lyderiams. Atlikus tyrimą buvo nustatytos svarbiausios kompetencijos, tai – aukšti etikos ir moralės standartai, greitas sprendimų priėmimas bei atsidavimas nuolatiniam darbuotojų mokymuisi.
Jonas Mackevičius, Asta Šalienė
Buhalterinės apskaitos teorija ir praktika, Volume 22, pp 2-2; https://doi.org/10.15388/batp.2020.24

Abstract:
Didėjant poreikiui racionaliai naudoti išteklius, saugoti aplinką bei užtikrinti socialinę gerovę veiklos audito reikšmė didėja. Istorinės jo atsiradimo ištakų ir raidos žinios supratimą apie tai, kas yra veiklos auditas, kam jis skirtas, koks jo atlikimo tikslas, daro platesniu. Straipsnio tikslas - pateikti veiklos audito raidos etapus, reglamentavimą bei ypatumus teoriniu aspektu užsienio bei Lietuvos literatūroje. Tikslui pasiekti taikyti mokslinės literatūros analizės, istorinis, lyginamasis, informacijos grupavimo, sisteminimo ir apibendrinimo tyrimo metodai. Straipsnyje atskleidžiama veiklos audito transformacija iš socialinio audito atliekamo privataus kapitalo subjektuose iki šių dienų atliekamo veiklos audito, kuris yra reglamentuotas ir taikomas vertinti viešųjų subjektų veiklą. Straipsnyje veiklos audito raida nagrinėjama keturiais etapais: 1) 1940-1950 pirmieji bandymai veiklą vertinti net tik ekonominiais, bet ir socialiniais parametrais; 2) 1950-1970 vystosi du požiūriai išskiriant socialinius ir ekonominius parametrus; 3) 1970-1990 atsiranda veiklos audito srities standartai, reglamentavimas, pirmieji moksliniai tyrimai; 4) 1990-2020 koreguojami ir patvirtinami veiklos audito standartai ir gairės, plačiai atliekami moksliniai tyrimai. Kiekvienu nagrinėjamu laikotarpiu vyko skirtingos mokslinės diskusijos veiklos vertinimo ir veiklos audito tema. Taip pat straipsnyje atskleidžiama veiklos audito įvairiapusiškumo problema, kuri sudaro prielaidas tolesniems tyrimams.
Gintarė Giriūnienė, Raminta Benetytė
Buhalterinės apskaitos teorija ir praktika pp 52-59; https://doi.org/10.15388/batp.2013.13463

Abstract:
It should be noted that the tax audit topic is relevant – during the last years quantity of tax audits accomplished by state authorities is still growing. Especially in this way is attempted to combat against tax avoidance and evasion, informal economy prevailed in the country. For committing it only helps to have regular inspections of taxpayers i.e. tax audits. Tax audits are divided under the verification time, as it is classified into a complex, a thematic inspection and an operational check. However, despite the existing differences between the various types of tax audit, a key moment of choosing strategy is a tax audit organization. In practice there are distinguished two tax audit strategies – “line-plane-point“ and “point-line-plane“. The first one indicates that before the initial analysis of data examination, it is necessary to investigate whether the company's tax accounting does not have indications for increased risk of error existence. For its practical application is necessary to execute a thorough collection and analysis of the evidence, and the most important is objective and correct assessment of indicators for an increased risk of errors. For this purpose suspicious taxpayers usually are selected and under the tax audit all of the data that can distort selected dubious indicators are checked. In application of the second strategy, if the execution of a company is suspected of tax evasion, it will be forwarded to the additional tax audit services, which will continue the investigation and will explore the additional information. Accomplished practical research have shown that the more of these indicators are observed during initial tax audit stage, the “point-line-plane“ method is more likely to be chosen. Accordingly, to choose one or another tax strategy correctly and adapt it properly it is necessary to take into account the indicators linked to the need for a tax audit.
Lukas Giriūnas, Aivaras Kazlauskas
Buhalterinės apskaitos teorija ir praktika pp 60-71; https://doi.org/10.15388/batp.2013.13464

Abstract:
The article examines the companies’ bankruptcy, its procedure and the course of the latter, taking into account the fact that the problem of completion of the bankruptcy procedure has been encountered recently in Lithuania – only one third of the initiated bankruptcy procedures are finished. Such results of the done analysis of statistical data allow stating that the procedure of the companies’ bankruptcy requires for new researches. The main areas of bankruptcy procedure, which have to be improved, were determined and new assessment directions of it were provided. Thus the practical study was conducted in the article in order to learn the course of the bankruptcy procedure and the areas, which need improvement, in Lithuania, and for this purpose the analysis of statistical data and theoretical review of the companies’ bankruptcy were done.
Birutė Jukonienė, Ona Gudaitienė, Melanija Sinevičienė
Buhalterinės apskaitos teorija ir praktika pp 121-129; https://doi.org/10.15388/batp.2013.13469

Abstract:
The article examines the procedure and issues of preparation, defence and assessment of graduation papers of students majoring in accounting at the Faculty of Economy of Vilnius College. A graduation paper – a generalization of all study results on which basis the author is awarded a professional bachelor’s degree – is the most important form of student’s independent work that discloses his/her preparedness for work. While preparing and defending a graduation paper, graduates have a possibility to demonstrate the knowledge acquired as well as practical skills. The graduation paper analyses theoretical and practical aspects of the formation and implementation of an accounting policy in a business company; provides conclusions and suggestions for future perspectives. After examining and analysing the preparation and assessment of graduate papers in the accounting study programme at the Faculty of Economics of Vilnius College, it may be claimed that the most popular topics of graduation papers in 2013 were as follows: preparation of a set of financial statements and analysis of indicators; accounting and analysis of fixed tangible assets; accounting and analysis of income. The defence of graduation papers is a public procedure and takes place in a sitting-meeting of a Qualifying Commission appointed by order of the Director of Vilnius College and is assessed in conformity with the procedure laid down in the methodological instructions for study works. Reviewers and the Qualifying Commission evaluated the majority of graduation papers as “excellent” and “good”. In terms of the competences achieved it may be claimed that 92 percent of all the graduation papers were evaluated at the highest (9-10 points) and average (7-8 points) level.
Monika Melnykaitė, Agnė Ramanauskaitė
Buhalterinės apskaitos teorija ir praktika pp 96-109; https://doi.org/10.15388/batp.2013.13467

Abstract:
Lately discussions of bringing in the progressive income taxation in Lithuania are increasing. Consensus on this issue in the society is not reached, thus this article aims to reveal the need for the reform of direct taxation in the Republic of Lithuania and to consider aspects of the project of proposed input of the progressive income tax rate and possible consequences of implementing. The aim of the research is to assess the need and initiatives of bringing in the progressive income taxation in Lithuania. This paper describes the theoretical basis for progressive taxation and discloses the need for the reform of direct taxation in the Republic of Lithuania; and assesses the aspects of the project of proposed input of the progressive income tax rate in Lithuania as well as compares them with other countries in the European Union. The results of the research. It is found that the bringing in the progressive income tax rate should be properly reasoned, and the system of the progressive tax rate establishment should be based on calculations and empirical studies; because it can have both positive (short-term) and negative (long-term) impact on the national economy. After the comparison of the proposed system of the progressive tax rate establishment in Lithuania with systems in other countries of the European Union it was revealed that the Lithuanian one could be improved. The main disadvantage of this system is that it does not reduce the payable income tax of lower-income people. Based on the results of the calculations it was established that in order to improve the system of Lithuania it should be taken into the account the system of United Kingdom. Because it is simple and easy to understand, and the government gets the opportunity to correct the non-taxable amount and income ranges according to the tendencies of economic ratios.
Darius Vaicekauskas
Buhalterinės apskaitos teorija ir praktika pp 30-40; https://doi.org/10.15388/batp.2013.13440

Abstract:
There is no single common definition of audit quality. Audit quality depends upon the observer, as well as on methods used in order to evaluate it. Considering that audit quality is usually an object under the investigation of three groups of stakeholders - external users, preparers and supervision authorities – three types of audit quality researches can be determined. In accordance to laws applicable in different countries, auditors and audit firms are usually periodically inspected by professional competent inspectors. The inspectors assess whether the firms and auditors do not infringe the provisions of auditing standards, national auditing laws, as well as how they manage internal resources and policies to provide high quality auditing services. These inspections could be performed only on legal basis by legally affirmed inspectors and their findings usually reach other stakeholders only if outrage deficiencies are detected. This lead to high quality assessments costs for other stakeholders to evaluate audit quality this way. In order to reduce quality assessment costs, external users apply audit quality surrogate researches – they employ various surrogates, which in their opinion, are closely tied with the audit quality (probability that auditors will detect deficiencies and will react properly) and assess whether these surrogates are applicable to particular audit firm. Surrogates such as audit firm size, auditor’s tenure, non-audit services provided to audit clients are often employed. Although these researches may be informative and interesting to various analytics and scientists, the lack of particular necessary information and difficult mathematical-statistical models reduce the quantity of such researches. Due to audit clients' direct interaction with their auditors, clients do not rely on surrogates – they evaluate audit quality on their own perceptions. Usually these perceptions are based on various attributes of an audit firm (size, brand, reputation) and audit team (empathy, communication, responsiveness). That kind of research does not focus on defining audit quality, it is more leaning towards the attributes, existence of which in engagements causes clients' perceptions of audit as of good quality. Literature analysis shows that due to increasing interest in an audit quality subject, various different types of audit quality researches will arise in the future.
Inese Vigante, Ruta Sneidere
Buhalterinės apskaitos teorija ir praktika pp 7-16; https://doi.org/10.15388/batp.2013.13437

Abstract:
With the development of the society and its economic system, a need has emerged to develop accounting as well. The increasing role of social accounting, which keeps records of for-profit, non-profit, and governmental organisations, is associated with the complexity of the environment in which businesses and organisations are operating and presenting reports about their social, ethical, and environmental aspects. Organisations are subject to greater transparency, and many stakeholders are interested in and concerned about the performance of organisations within the context that is not reflected, to a satisfactory extent, in traditional accounting. Traditional accounting ensures reporting to the shareholders or the state, whereas social accounting provides information to all stakeholders, including the public. Social accounting includes all kinds of accounts that go beyond the economic and for all the different labels under which it appears. This paper deals with the main issues and tools of corporate social responsibility, which is a very important prerequisite for organisations in order to introduce the principles of social accounting.
Lina Šalnytė, Giedrė Balkytė
Buhalterinės apskaitos teorija ir praktika pp 110-120; https://doi.org/10.15388/batp.2013.13468

Abstract:
Comparison of tax systems may influence opinion of investors and businessmen because countries, that have more favourable tax system and where the tax burden is less, seems more attractive for investment. Business owners, shareholders and other businessmen complain of the tax burden in Lithuania. Poland is one of the countries that managed the economic crisis, in spite of the fact that tax rates are higher in this country. The planned aim of the article is to do the comparative analysis of Lithuanian and Polish tax system. In this article the analysis and comparison of Lithuania and Poland tax systems, structural and dynamic analysis of Lithuania and Poland budgets revenue, comparative analysis of the main taxes collection and their burden are presented.
Lukas Giriūnas, Jonas Mackevičius, Romualdas Valkauskas
Buhalterinės apskaitos teorija ir praktika pp 72-82; https://doi.org/10.15388/batp.2013.13465

Abstract:
Bankruptcies of enterprises are among the most common events in the market economy. They cause a lot of negative effects not only for the company and its employees, but also for other companies and institutions, the state and society. Although the researchers have examined the reasons for bankruptcy, there is no list of the signs clearly indicating the likelihood of bankruptcy. Or such list is impossible due to the fact that causes of bankruptcy are related to the complex and constantly changing external environment of the company. That is why various features are only the symptoms pointing to the fact that the company is in danger of going bankrupt. It should be mentioned that some signs indicate that the company may face a number of difficulties, including bankruptcy, if the company’s management will not take appropriate action to eliminate causes of bankruptcy or to adjust to them. Reasons for bankruptcy can be divided into: 1) internal, 2) external. External reasons are such reasons that cannot be affected by company’s executives because they do not depend on the executives’ will. Internal reasons are such reasons that depend on the company’s executives and their level of professionalism, initiative, and ability to lead and to make the right decisions. In order to take the lowest risk, company’s analysts should monitor and investigate all internal and external causes. As it has been already mentioned, there are many internal and external reasons for companies’ bankruptcy but it is not clear which are the most important ones. To answer this question the authors of this article, on the basis of Lithuanian and foreign scientific research, have compiled a theoretical list and the tree of the internal and external causes of bankruptcy. The tree and its components are improved with clusters of reasons for bankruptcy of enterprises.
Evelina Stankevič
Buhalterinės apskaitos teorija ir praktika pp 41-51; https://doi.org/10.15388/batp.2013.13441

Abstract:
Performance audit is identified as one of the relatively newly developed type of audit, in which the reactivation of research was observed only in the twentieth century. The need to analyse and develop a new type of audit is associated with the changes occurred and on-going in business and public administration, and also with other factors such as social, political, economic, technological changes and other. Evaluation and improvement of entities becomes more and more important and substantial in accordance with the development of a new approach in public sector, public administration and asset management. The definition and implementation of the new public management paradigm has influenced this process as well. In light of new circumstances the importance of evaluation performance audit is growing rapidly. This paper briefly summarizes and evaluates the theoretical basis of the performance audit, the reasons for the performance audit examination, importance of improvement and adaptation of analysis. Particular attention was given to performance audit analysis which was done by the National Audit Office of Lithuania. The purpose of the paper is to examine performance reports published by the National Audit Office of Lithuania and statistic data for 2010-2012. Survey was conducted in accordance with the composition of performance audits operational process of auditing and the performance audits timeframe trend. The study revealed that in 2010 year was performed 41 percent of all conducted performance audits in 2010-2012 year, while in 2011 and 2012 – 29,5 percent. It was also found that over 54 percent of performance audits were conducted with pre-and main studies. Mainly performance audit conducted with pre-and main studies were in 2012 year and reached 68,2 percent from all conducted performance audits that year. The lowest rate was in 2010 year and it reached 46,7 percent from all conducted performance audits. Analysis of the performance audits conducted with pre-and main stages according to duration of each stage showed that time off each stage fulfilment has grown during the period of 2010-2012. Analysis of pre-stage period showed that it has increased by 8,3 percent from 2010 to 2012, without consideration of the reporting time. The reporting time after a preliminary investigation grew by 14,3 percent, main study fulfilment period increased by 26,8 percent, and reporting time after the main study – 2,6 percent.
Judita Urbonaitė, Milda Kvekšienė
Buhalterinės apskaitos teorija ir praktika pp 83-95; https://doi.org/10.15388/batp.2013.13466

Abstract:
Forecasting is essential for the company activities, as it helps to predict company's future results. Forecasting methods theory analysis has showed that the application of mathematical methods are very wide. After the forecasting of sales revenue and profits of „Klaipėda vanduo“ LC. for 2013–2014 has been done, it is possible to claim that forecasting according to parabolic trend is appropriate for forecasting indicators, one the grounds that MAPE index for sales revenue and gross profit indicators has turned out to be very accurate, and for financial forecast - accurate. Linear trend forecasting is also suitable for the sales revenues forecasting due to the similarity of received calculated errors. The results achieved have depicted that according to the linear trend the sales revenues average will be 41,48 million litas in 2013. The average of the sales revenues according to parabolic trend will be 41,56 million litas. In 2014 according to linear trend the sales revenues will reach 41,70 million litas and according to parabolic trend they will reach 41,87 million litas. Gross profit in 2013 is forecasted to be 8,21 million litas and in 2014 – 5,4 million litas. 2013 and 2014 forecasting showed, that company will suffer net losses.
Rasa Kanapickienė
Buhalterinės apskaitos teorija ir praktika pp 17-29; https://doi.org/10.15388/batp.2013.13438

Abstract:
The main legal issues regarding internal control of a public legal entity are regulated by the Law of Internal Control and Internal Audit of the Republic of Lithuania (LR) which designates that one of the aims of internal control is to ensure the reliability and completeness of information and reports. The main regulatory enactments of accounting determine many instruments of internal control which must be ensured by the accounting policy adopted in a public sector entity. Regulatory enactments cover different spheres, i.e. accounting and internal control. These spheres are closely interrelated; therefore, it is important to examine the interrelations between the accounting policy and internal control system. The object of the research is internal control instruments in the accounting policy of public sector entities. The aim of the research is to examine the regulation of internal control instruments by legal acts with regard to the accounting policy of a public sector entity. The article provides the analysis of the accounting organization instruments and internal control instruments of accounting technique which are regulated by the Law of Accounting of LR (2001) and the Law of Public Sector Accountability of LR (2007). The paper systematizes the internal control instruments of accounting policy.
Gytis Kaziukonis, Gerda Jurkonienė
Buhalterinės apskaitos teorija ir praktika, Volume 22, pp 1-1; https://doi.org/10.15388/batp.2020.23

Abstract:
Materiality levels are being used by auditors in different financial statement audit planning, procedure performance and results measurement stages. Thus, ensuring that financial statements are not significantly distorted. International standards on auditing contain extensive levels in materiality interpretation however, when determining materiality, it is underlined that auditor must be versed about audited company‘s sector and industry. The aim of the research is to analyze the industry factors which influence materiality determination levels in financial statement audit process and to establish the scheme of industry influence on materiality level determination. An article applies information collection, systematization and interpretation methods, analysis of Lithuanian and foreign scientific literature, audit regulatory legal acts. The analysis enabled to determine that industry significantly influence both planning and performance materiality also the allocation of the latter for accounting articles. The influence is determined by qualitative and quantitative industry factors. Theoretical model of industry influence on materiality determination is submitted in the framework below.
Jonas Mackevičius, Romualdas Valkauskas, Diana Bachtijeva
Buhalterinės apskaitos teorija ir praktika, Volume 21, pp 6-6; https://doi.org/10.15388/batp.2020.21

Abstract:
In the modern market economy conditions, financial information is very significant when evaluating the results of enterprises’ financial status and activity results. General economic, mathematical, heuristic methods are used for this type of analysis. The article analyses application opportunities for one of the mathematical research methods–time series–as well as its research instruments, discusses the place and role of interpolation methods in a financial analysis. The article reveals that interpolation methods which may be used to determined former values of an enterprise’s financial indicators or identify reasons which determined the enterprise’s financial status and activity results are the following: 1) graphic and arithmetic interpolation in a linear equation; 2) geometric interpolation based on the compound percentage formula and 3) interpolation by averaging.
Asta Salienė, Daiva Tamulevičienė, Lionius Gaižauskas
Buhalterinės apskaitos teorija ir praktika, Volume 21, pp 7-7; https://doi.org/10.15388/batp.2020.22

Abstract:
Performance audit is a type of audit that evaluates and inspects an organizations’ activity based on the so-called 3E approach: economy, efficiency, effectiveness, and plays the most important role in institutions of public sector. During the implementation of the public sector reforms in recent decades, the concept of audit has been changing. Therefore, a need to re-evaluate the current definition of the audit and supplement it arose. It is also important to review the functions attributed to performance audit in order to define its ever-changing identity. The aim of the article: to evaluate the concepts of performance audit and the conceptual development of functions from a theoretical point of view. The article presents the analysis of performance audit concepts as well as a performance audit definition. The functions of performance audit have been distinguished, grouped, and evaluated based on how often they are mentioned in the literature. Two problems that make the implementation of the functions more challenging have been distinguished: contradictions among functions arise due to a diverse range of functions; due to versatility of the activity, the functions are difficult to evaluate, and measure and evaluation criteria are hard to establish.
Kamilė Medeckytė, Daiva Tamulevičienė
Buhalterinės apskaitos teorija ir praktika, Volume 21, pp 5-5; https://doi.org/10.15388/batp.2020.20

Abstract:
He application of strategic management accounting instruments in corporate governance is a significant tool for gaining a competitive advantage, increasing the existing market share, and improving the company’s performance. The article examines the development, concept, and significance of strategic management accounting. There are five areas of strategic management accounting: 1) costing; 2) planning, control, and performance measurement; 3) strategic decision-making; 4) competitor accounting; 5) customer accounting. The main instruments of each area, their advantages, challenges of implementation in enterprise management, and benefits for the efficiency of the organization have been identified.
, Jonas Mackevičius, Lionius Gaižauskas
Buhalterinės apskaitos teorija ir praktika, Volume 21, pp 4-4; https://doi.org/10.15388/batp.2020.19

Abstract:
Appropriate choice of the production cost calculation methods helps not only to estimate the production cost correctly, but also to correctly determine prices of products as well as their profit and profitability, draw up budgets, control expenses, make operational and prospective management decisions. The article analyses effective standard costing and normative methods that are still seldom applied in Lithuanian enterprises. A brief history of how the methods were created is provided. The advantages and aims as well as their similarities and differences are analysed. A methodology of applying standard costing and normative methods in manufacturing enterprises was prepared. Application of these methodologies is going to help managers and accountants to introduce the methods easier and at a lower cost.
Daiva Raziūnienė, Gintarė Juškaitė
Buhalterinės apskaitos teorija ir praktika, Volume 21, pp 3-3; https://doi.org/10.15388/batp.2020.18

Abstract:
Klaidas nuo apgaulių galima atskirti tik atmetimo būdu, kai naudojama apgaulių aptikimo metodika, tikrinant rastą netikslumą. Straipsnyje aptariamos trys metodikos: apgaulės trikampis, santykinių rodiklių analizė ir teismo ekspertizė. Apgaulės trikampis ir santykinių rodiklių analizė padeda identifikuoti apgaules lengviau nei teismo ekspertizė, tačiau šiems metodams reikalingi papildomi įrodymai, kad būtų galima patvirtinti apgaulę. Naudojant teismo ekspertizę naudojamas dokumentų patikrinimas, todėl šiam metodui nereikalingi papildomi įrodymai, teismo ekspertas pagal savo kompetenciją daro sprendimą dėl klaidos ir apgaulės. Straipsnio tikslas - atlikti atvejo analizę, kuria siekiama išnagrinėjus dokumentų klastojimo atvejį, nustatyti klaidų ir apgaulių tyrimo eigą ir taikomus neleistinus veiksmus. Atvejo analizėje, naudojant dokumentų tikrinimą, palyginimą, darbuotojų apklausas buvo nustatyta apgaulė įmonės apskaitoje. Tyrimui atlikti taikyti tokie tyrimo metodai: lyginamoji mokslinės literatūros analizė ir sintezė, interpretavimas, dedukcija, sisteminimas, apibendrinimas, atvejo analizė.
Darius Vaicekauskas
Buhalterinės apskaitos teorija ir praktika, Volume 21, pp 2-2; https://doi.org/10.15388/batp.2020.17

Abstract:
Revenue accounting is one of the most important areas of financial accounting. Revenue is one of the key absolute financial ratios that reflects the economic benefits generated by entities that result in increased shareholders‘ equity. This article investigates the first time adoption of new IFRS 15 “Revenue from contracts with customers“ which in International financial reporting standards (hereinafter – IFRS) system is mandatory to apply starting from 1 January 2018. The new IFRS 15 supersedes the previous international accounting standards regulating revenue recognition and introduces a conceptual 5-step revenue recognition model. The purpose of this article is to evaluate the impact of the first-time adoption of IFRS 15 “Revenue from contracts with customers“ on the financial statements of Lithuanian listed companies. This purpose is achieved while using the following research methods: analysis of International financial reporting standards (IFRS) and scientific literature, as well as analysis of the content of financial statements. An empirical study revealed that the first-time adoption of IFRS 15 had no material impact on the financial statements of Lithuanian listed companies. Most of the companies surveyed applied the standard using a simplified retrospective modified method and did not pay much attention to the disclosure of first-time adoption. For those affected by the standard, the effect was mostly notable in the following areas: reclassifications of commissions and brokerage fees, changes in revenue recognition principles from the revenue recognition over a time to revenue recognition at specific point in time and vice versa.
Neringa Grincevičienė
Buhalterinės apskaitos teorija ir praktika, Volume 21, pp 1-1; https://doi.org/10.15388/batp.2020.16

Abstract:
The intensive penetration of information and communication technologies into the labour market has also determined the modernisation of work organization processes. The digitization of information and telecommunications enabled to perform most of intellectual activities not only in the work premises but also in other spaces distant from the main workplace. Thus, as the technology revolution gradually releases modern intellectual work from the constraints of the physical location, telework is becoming an increasingly accelerating trend in the world. Together with technological changes allowing to reach the employee 24 hours a day and 7 days a week create challenges for teleworkers seeking to successfully reconcile two areas of life – work and personal life. Employees from different fields, among them accounting, audit, finances, analysis and others that carry out tasks via telework face this challenge.Relevance of the scientific research problem formulated in this paper was determined by the lack of studies in the scientific research to date, which would evaluate the intensity of telework use as an important factor that has a different effect on work-life balance.The research aim is to reveal the effect of the intensity of telework use on employee work-life balance. A quantitative study – the survey of telework employees was conducted and 320 respondents were surveyed. The results of the empirical study revealed that the intensity of telework use had equally positive effect only on two dimensions of work-life balance: time intended for the family and friends and time intended for oneself.
Daiva Raziūnienė, Uršula Adaškevič
Buhalterinės apskaitos teorija ir praktika pp 7-7; https://doi.org/10.15388/batp.2019.15

Abstract:
Evidence is an argument that justifies the truth or falsity of a subjective opinion or assertion. Characteristics of audit evidence directly impact the obtaining process of sufficient audit evidence as well as determine the final audit decision regarding fairness and truthfulness of financial reporting. The purpose of the article is to identify the material aspects of evaluating audit evidence and to define the concept of the financial statement‘s audit evidence. The research methods applied in the article are comparative analysis and synthesis of Lithuanian and foreign scientific literature, interpretation, critical thinking and systematization of financial audit laws and regulations. Furthermore, the article examines the concept of financial audit evidence, its characteristics and criteria of reliability as well as disclosure of material audit evidence.
Vilius Savickas
Buhalterinės apskaitos teorija ir praktika pp 6-6; https://doi.org/10.15388/batp.2019.14

Abstract:
The article analyses the selection of profitability indicators for the evaluation of corporate financial performance. Both theory and practice, address a variety of profitability indicators, therefore, it is essential to understand the possibilities of using the information they provide, as well as to be able to identify potential reasons of indicator value deviations, and to assess the conditions causing the analysis performed based on these indicators to provide incomplete or unreliable information. The aim of the study is to analyse the main profitability indicators, their potential disadvantages, and possible issues in the analysis and interpretation of these indicators. Methods of logical and comparative analysis of the scientific literature, synthesis and generalisation, statistical data analysis and interpretation were used in this article. The results of the analysis show that there is no universal profitability indicator, that would cover all areas of company performance, because profitability indicators’ reliability, as well as objectivity of comparison to other entities, are influenced by national accounting standards, different prime cost calculation methods, long-term assets depreciation methods, reserve assessment, and other methods.
Jonas Mackevičius, Daiva Raziūnienė, Romualdas Valkauskas
Buhalterinės apskaitos teorija ir praktika; https://doi.org/10.15388/batp.2019.13

Abstract:
The value of financial information analysis depends on usability, efforts, duration, etc. These dimensions have not been systematically reviewed as well as assessment methods have not been established yet. The purpose of the article is an examination of value dimensions and arrangement of the model for identifying and determining analysis methods. Research methods of this article are literature analysis, classification, specification and generalization of information. In this article, we focus on financial analysis data and the relation between information and its value. We suggest the theoretical model which determines dimensions of the information value and costs related to its transfer. We propose a method of evaluating parameters of value and how these parameters may influence its exposure.
Darius Vaicekauskas
Buhalterinės apskaitos teorija ir praktika; https://doi.org/10.15388/batp.2019.12

Abstract:
Audit quality is determined by the criteria of the audit firm and the audit engagement team. One of the most important criteria of the audit engagement team is the involvement of the responsible engagement partner (hereinafter - partner) in the audit. As an executive of an audit firm, the partner is responsible for the quality control system within the audit firm, creating a "tone from the top" and presenting himself and his/her behavior, including involvement in the audit process, as an example for other less experienced audit engagement team members. This article examines the role of the partner in the audit engagement team structure to achieve audit quality, introduces the issue of partner involvement in the audit process, and proposes suggested indicators that can help assess the level of partner involement in the audit process for audit quality reviewers.
, Liliana Sileikiene
Buhalterinės apskaitos teorija ir praktika; https://doi.org/10.15388/batp.2019.11

Abstract:
Capital financing is vital for the development of the new EU countries. Investors base their economic and financial decisions on the information available in the financial reports that listed EU companies must prepare following International Financial Reporting Standards (IFRS). Studies show that the majority of listed companies worldwide are family owned and face Type II agency problem - the conflict between minority shareholders and large controlling shareholders (family), i.e. controlling family may seek to extract private benefits at the expense of minority shareholders and disclose information in financial reports for self-interested purposes to avoid minority contests. The research of Type II agency conflict effects on mandatory IFRS disclosure levels in the new EU countries is limited, however, with the reference to existing research literature and legal systems in the new EU countries, we find that minority protection is strongest in Malta, and weakest in Latvia. The biggest number of family controlled firms are in Poland and Romania, whilst family business in Poland, Estonia, Croatia, Cyprus, Romania and Bulgaria enjoy the largest market capitalisation. Nationally, the highest market capitalisation of family controlled firms are in Estonia, Cyprus, Latvia and Poland. This paper shows, that due to moderate minority protection in the new EU countries Type II agency conflict is important, and therefore, it is suggested further the research related to mandatory IFRS disclosure levels.
Daiva Tamulevičienė, Jonas Mackevičius
Buhalterinės apskaitos teorija ir praktika; https://doi.org/10.15388/batp.2019.10

Abstract:
Appropriate product costing helps not only to estimate the cost of production correctly but also to evaluate the activity results, forecast product prices, make reasonable economic decisions. The article analyses the development of product costing in Lithuania from 1918 to 2019. The following stages of development of product costing were distinguished: 1) between the world wars when Lithuania was independent and during the Second world war (1918–1944); 2) during the years of Soviet occupation (1944–1990); 3) after reinstating the independence of Lithuania (1990–2019). The most important provisions of normative documents related to product costing of every stage were analysed, opinions, statements and suggestions how to improve product costing by different Lithuanian authors were evaluated.
Gerda Jurkonienė, Justina Stašaitytė
Buhalterinės apskaitos teorija ir praktika pp 1-1; https://doi.org/10.15388/batp.2019.9

Abstract:
During audit of the financial statements of companies, the auditors use a certain level of materiality to determine both the scope of the procedures and the impact of errors on the representation of the true and fair view of the financial statements. International auditing standards leave wide range of possibilities for interpretation of the materiality process, which often raises the question of how the auditor determines materiality. The purpose of the study is to analyze the materiality process and to create a model of the materiality determination process. Methods of information gathering, comparative analysis, critical evaluation, systematization and interpretation of scientific literature and normative acts of audit are used in this article. After analyzing the materiality determination process, it was found that the materiality process consists of four steps: assessment of determining factors of materiality thresholds, determination of planning materiality, determination of performance materiality and determination of clearly trivial misstatement. Based on the analyzed literature, a model of materiality determination process was developed.
Ramunė Budrionytė
Buhalterinės apskaitos teorija ir praktika pp 63-75; https://doi.org/10.15388/batp.2014.15.6

Abstract:
One of this time distinguishing features - business and government organizations assume a greater social responsibility. Businesses and public organizations leaders have identified, that an understanding of social responsibility and social activity opens up a favourable business prospects, increase competitive advantage and, ultimately, ensures greater prestige and profits for the company. However, up to now, the concept of social responsibility is not an unambiguous assessment - this is determined by the different treatment in organizations goals. The social responsibility measures provide multiple benefits for the organization, i.e. a more efficient use of resources, innovative abilities, a better public image, an increased motivation of employees and hence productivity, fewer disputes and strikes, easier to attract the best professionals in lower costs of the search, a lower turnover of employees, a higher acceptance of consumers. All this increases the competitive advantage of organization in the market. In order to gain a competitive advantage for social responsibility initiatives, management of organization should provide the appropriate information about the company's activities in the field of social responsibility. The information could be provided not only in the public space (such as company web page), but also in the company‘s explanatory notes and (or) in the annual notification. In order to avoid the information chaos, it should be structured according to the following social responsibility assessment areas: 1) environment, 2) human resources, 3) social activities, 4) product development.
Vytautė Petraškaitė, Kristina Rudžionienė
Buhalterinės apskaitos teorija ir praktika pp 88-100; https://doi.org/10.15388/batp.2014.15.8

Abstract:
Development of Corporate social responsibility (CSR) companies tend to disclose CSR information in annual, environmental protection, social responsibility reports and website. In Lithuania presentation of CSR is not necessary, but every year more companies disclose social information. One of CSR disclosure ways is the Internet. Purpose of this article - to investigate the level of CSR disclosure which is presented in the financial information on the Internet. Results show that firms in High-Profile environmentally sensitive industries tend to disclose more CSR information than those in Low-Profile environmentally sensitive industries. The results also indicated that the content, level disclosed on the internet are quite different. Only the little number of companies disclose their information of CSR on the internet.
Tomas Baležentis, Romualdas Valkauskas
Buhalterinės apskaitos teorija ir praktika pp 101-112; https://doi.org/10.15388/batp.2014.15.9

Abstract:
Benchmarking of the economic subjects—viz. enterprises, organizations, regions—usually involves assessment of the efficiency. Suchlike analyses are not only important in the private sector, but also in the public one for public agencies are usually funded by public funds and thus need to be effective. Indeed, the private (business) subjects are sometimes also operating under the environment requiring appropriate regulation based on benchmarking. This is the case for the agricultural sector which receives voluminous public support as direct payments and rural development measures. On the other hand, the efficiency of agricultural sector impacts the prices of agricultural products as well as factor markets. Therefore, it is important to measure the efficiency of agricultural sector as an outcome of the effectiveness of the agricultural policy. The scale efficiency constitutes one of the components of the gross technical efficiency. The latter measure is related to the farm size and farm structure in general. Furthermore, the optimal farm size is a key issue for the agricultural policy and thus is often influenced by the legal regulations. This paper aims at identifying the optimal scale size for Lithuanian family farms. The paper discusses the neoclassical methodology for analysis of the scale efficiency. The results indicate that the optimal farm size depends on the farming type. Nevertheless, the current maximum limit of land area (i. e. 500 ha) has not been exceeded by any farming type.
Inga Bumane
Buhalterinės apskaitos teorija ir praktika pp 15-29; https://doi.org/10.15388/batp.2014.15.2

Abstract:
The article reflects the study on the main aspects of the Directive of the European Parliament and of the Council 2013/34 / EU “On annual financial reports, consolidated financial reports and related reports of enterprises of certain types” (hereinafter referred to as the new directive), paying particular attention to the requirements put forward to micro enterprises . A comparative analysis of the requirements of the new EU directive and the existing main accounting rules in Latvia was also carried out. As a result of the study, recommendations were developed on problematic aspects that relate to accounting in Latvia due to the need to introduce the requirements of the new directive into national legislation.
Marta Lapková, Jana Stašová
Buhalterinės apskaitos teorija ir praktika pp 8-14; https://doi.org/10.15388/batp.2014.15.1

Abstract:
Financial statements are the key resource for assessing a company´s performance. The form and content of financial statements reflect a country`s accounting regulations. If financial statements can be drawn up under a range of different principles and procedures, this may cause problems for external users. The purpose of this paper is to evaluate comprehensive income recognition in the financial statements of Slovak companies that are prepared according to IFRS, with an emphasis on items of other comprehensive income. Our research showed that Slovak companies preparing financial statements in accordance with IFRS use a range of options allowed by national standards. Therefore the form of their comprehensive income recognition varies. Other comprehensive income was recognized in the statement of profit or loss and other comprehensive income, in the majority of researched entities. Our research shows that reporting of other comprehensive income divided into reclassified and not reclassified items is relevant for the assessment of company performance, because of their impact on reported profit or loss, and on selected indicators of profitability, particularly for our sample of financial institutions. This is due to the nature of their activity, for in most cases the gains and losses on financial assets available for sale are recognized in other comprehensive income, which will be reclassified to profit or loss in subsequent periods.
Inga Karlonaitė, Kristina Rudžionienė
Buhalterinės apskaitos teorija ir praktika pp 76-87; https://doi.org/10.15388/batp.2014.15.7

Abstract:
In last decades, environmental issues: pollution, climate change, sing of non-renewable resources, has influenced the economic value of nature and the protection of the environment has become an important goal for institutions and corporations. Increasing concern to environmental problems causes increasing demand for environmental disclosure of environmental related information. Responding to the increasing demand for such type of information, interest of environmental accounting and reporting is growing too. It is especially needed for the disclosed information to be useful and in high quality. Purpose of this work –prepare and adjust quality assessment model of environmental information disclosure. Case study indicates that this model is suitable for Baltic countries companies. Companies mostly disclose information about environmental costs, waste, pollution, programs, projects or activities in social life and regulations they follow. Lithuanian companies are most improved in this area, because 93,75% of companies discloses that information in financial reports, separate reports or internet pages.
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