THE FINANCIAL STATEMENTS OF USER REQUIREMENTS

Abstract

The aim of the study is to investigate qualitative characteristics of financial reporting in the context of the interests of different groups of users. The subject of research is the financial statements of the enterprise. Methodology. The theoretical base of the study are the provisions of general scientific theory of knowledge studied phenomena and processes, in particular: the methods of induction and deduction (in determining the principles of formation of the financial statements); analysis and synthesis (in establishing the role and importance of reporting to the needs of users) comparisons, associations and analogies (the justification of qualitative characteristics of financial statements). The information base for scientific research became scientific papers and publications of domestic and foreign scientists-economists, materials of scientific-practical conferences, legislative and normative documents, the World Bank materials and International Accounting Standards Board. Results of the research showed that in the present conditions of economic activities of Ukrainian enterprises, for the effective functioning of the company, is required to have them control system was adequate to the environment, and this is possible only if the relevant information systems. The financial statement plays a crucial role in the management of the company and is the main source of information about the firm’s financial condition. The basic groups of users of financial statements, depending on the interest that they show to the results of activity of the enterprise: external and internal. External users are classified into direct users and not a direct financial interest. It was determined that the financial statements should meet, first of all, the information needs of users with a direct financial interest, it is this group of users has the most leverage to influence the company. The influence of the quality characteristics of the formation of the real information in the financial statements is investigated. It is proved that the main requirements that apply to the financial statements, is it to be useful to users. It was established that the qualitative characteristics of financial reporting are not the same; they are subject to adjustments, primarily related to changes in the country’s economic realities. All possible adjustments should be carried out in accordance with the principles of data display system and based on scientifically developed approaches that will ultimately guarantee the interests of users of financial statements. We consider the actions and procedures of the World Bank, which are focused on improving the institutional framework for corporate financial reporting. Practical implications. The results of the study can be used in the formation of accounting enterprise policies of Ukraine, as well as the formation of special financial statements to meet the information needs of key users. Value/originality. Get further development the theoretical and methodological aspects of the formation of the qualitative characteristics of financial statements of enterprises of Ukraine in the context of the interests of the key user groups.