TRANSFORMATION OF THE PURPOSE AND MISSION OF FINANCIAL REPORTING IN CURRENT CONDITIONS

H.Iu Anishchenko

doi:10.37203/kibit.2019.40.01

H.Iu Anishchenko

DOI: https://doi.org/10.37203/kibit.2019.40.01

Keywords: financial statements, reporting entity, information needs, non-financial indicators, venture capital, business reputation, explanatory note to financial statements.

Abstract

The article substantiates the necessity of changing at the state level standard approaches to the main forms of financial reporting. The problematic issues of the data reflection on the results of the activities of economic entities are outlined and the main directions of the expansion of the information flow for the implementation of economic assessments and the adoption of managerial decisions are stated. Taking into account these proposals will extend the use of financial reporting to establish business reputation as a general integrative criterion for assessing the financial, economic, social, environmental and other state of affairs of the reporting entity

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