The Paradigms of Accounting and Financial Reporting

• Authors: Igor J. Yaremko , Lubomyr M. Pylypenko , Olena I. Tyvonchuk
• Languages of publication: EN

Abstracts

EN

Purpose – The aim of the article is to substantiate the prerequisites for the development of a new paradigm of accounting and financial reporting of companies in postindustrial economy.Design/Methodology/Approach – The study is based on the analysis of the existing approaches to the formation of accounting and financial reporting paradigm. For the new paradigm development the concept of intellectual capital maintenance and theoretical provisions of physical economy were applied.Originality/Value – On the basis of the research, a number of anomalies and crises of existing accounting paradigm have been defined. In order to eliminate them, the main requirements for the new paradigm have been defined, in particular: explicit positioning of public importance of general purpose financial reporting (institutional context); complete representation of company’s intellectual potential by the system of accounting and financial reporting; consideration of social, environmental and ethical aspects of companies operation as important criteria of their overall effectiveness; consideration of dynamics of an economic development factor in the approaches to accounting objects valuation.

Keywords

EN

accounting, financial reporting, paradigm, concept of capital maintenance, physical economy

• Publisher: Wydawnictwo Uniwersytetu Marii Curie-Skłodowskiej
• Journal: International Journal of Synergy and Research
• Year: 2016
• Volume: 5

Dates

published

2016

online

2017-05-23

Contributors

author

Igor J. Yaremko

author

Lubomyr M. Pylypenko

author

Olena I. Tyvonchuk

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Identifiers

DOI

10.17951/ijsr.2016.5.0.135