Accounting Procedures in the System of Searching and Generating the Balance Sheet of Accounting Information by Various Stakeholder Groups

A.I. Belousov, G.V. Mihajlova, N.A. Rumachik, E.A. Shelukhina
European Research Studies Journal, Volume XXI, Special Issue 2, 238-245, 2018
DOI: 10.35808/ersj/1233


This article emphasizes the importance of analyzing critically and using the multi-option models of running the accounting records that make it possible to considerably improve the harmonization of interests of various stakeholder groups and the quality of the accounting data as well. The authors have resorted to various conceptual principles as their study subject to carry out the research that is used by modern science and that is intended to tackle the challenges of realizing a quantum leap in business processes. The authors have demonstrated the peculiarities of generating and using multi-option models of running the accounting records, the specific features of their demonstration in the GAAP, IFRS systems, the continental accounting model and in the Russian practices. They consider the aggregate scenarios in financial and economic development of business entities as obtained by means of accounting sampling to be the most promising trend in optimizing the accounting information in the system of possible stakeholder inquiries. By reference to the results of the research the authors conclude that the interests of the property owners, executive management and mass public that are aimed at the neutrality criterion as obtained by means of the accounting information should be harmonized.

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