Home  Journals  International Accounting  18(150) - 2010 December

Organization of accounting process: fundamental steps and method selection

Available online: 21 December 2010

Subject Heading: PROBLEMS OF ACCOUNTING

JEL Classification: 

During first adoption of IFRS companies frequently use transformation to prepare financial statements. Transformation is usually done by professional consulting companies. With a course of time this method becomes ineffective and companies have to make choice how to organize reporting process to make it faster and reduce cost of it. Article presents information about practical experience of reporting process organization made by different companies, the purpose of which was to increase effectiveness of reporting. As a result, major ways of reporting process organization improvement are formulated. Realization of this ways can help companies to get extra economic benefits by optimization of financial reporting.

Keywords: organization of reporting process, IFRS department, reporting methods, internal control, information systems, business structure, efficiency of financial reporting

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ISSN 2311-9381 (Online)
ISSN 2073-5081 (Print)

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