Subject. The article addresses capitalization parameters (income, financial result, cash flow) in the income approach to valuation. Objectives. The purpose is to develop methodological approaches to verification and confirmation of relevance of parameters in the income-based approach to business valuation. Methods. The study rests on general scientific and special methods of cognition, including the structuring, comparison, modeling (matrix models to analyze the distribution and redistribution of cash flows), formalization, methodology for generation and analysis of cash flow statements under indirect method, techniques and methods of financial analysis. Results. Confirmation of capitalization parameters in the income approach to business valuation model assumes two prerequisites being met simultaneously, i.e. securing the owner’s income from business ownership and retaining specified business performance indicators. Capitalization parameters for compliance with these two criteria were verified, using the matrix models for financial resources distribution. This enabled monetary security of profit, which, under the prevailing financial proportions, is not invested in either current or investment activities, and can be distributed among owners without affecting further business development and without attracting external borrowings. Conclusions. The permissible multivariance of capitalization parameters in the income approach to business valuation forms a significant range of possible estimates and the uncertainty of final result. Increased accuracy is achieved through the procedure for verification of initial parameters for synchronous compliance with requirements, namely, securing the owner’s income from business ownership and retaining specified business performance indicators.

УДК 338.1,658.15(045) JEL O12 тенденции развития нефинансовой отчетности в контексте формирования информационного поля анализа устойчивости экономических субъектов Д. А. Панков a , Л. С. Маханько b Белорусский государственный экономический университет, Минск, Республика Беларусь a https://orcid.org/0000-0003-2898-7225; b https://orcid.org/0000-0003-4326-3575АННОтАцИЯ Развитие международных финансовых рынков, необходимость непрерывного мониторинга эффективности инвестиций обострили проблему раскрытия информации о деятельности экономических субъектов. Традиционный формат финансовой отчетности дополнен отчетностью об устойчивом развитии или нефинансовой отчетностью. В исследовании на основании изучения эмпирического материала обоснованы тенденции раскрытия организациями в открытом доступе характеристик устойчивого развития в отсутствие нормативно-правового регулирования порядка составления и предоставления нефинансовой отчетности; распределены по частоте инициативного раскрытия основные показатели оценки параметров устойчивого развития; на основе методов статистического сравнения результатов выборочных наблюдений выявлены основные факторы, влияющие на степень представления нефинансовой информации в условиях, когда на государственном уровне соответствующие вопросы не регулируются и не применяется правовое администрирование описываемого процесса. При проведении исследования были использованы общенаучные методы, включая анализ и синтез, сравнение, группировку, метод аналогий, а также методы статистического анализа. Ключевые слова: финансовая отчетность; нефинансовая отчетность; имплементация; медийная среда; раскрытие информации; устойчивое развитие; анализ устойчивости Для цитирования: Панков Д. А., Маханько л. С. Тенденции развития нефинансовой отчетности в контексте формирования информационного поля анализа устойчивости экономических субъектов. Учет. Анализ. Аудит. 2019;6(3):15-24. ABStrACtThe development of international financial markets, the need for continuous monitoring of the effectiveness of investments have exacerbated the problem of disclosing information about the economic entities' activities. The traditional format of financial reporting is supplemented by reporting on sustainable development or non-financial reporting. The study based on the empirical material substantiates the trend of disclosure of open access characteristics of sustainable development in the absence of legal regulation of the procedure for compiling and submitting non-financial reporting; the main indicators for assessing the parameters of sustainable development are distributed according to the frequency of initiative disclosure; based on the methods of statistical comparison of the results of sample observations, the main factors affecting the degree of nonfinancial information presentation are revealed in conditions when the relevant issues are not regulated at the state level and the legal administration of the process described is not applied. The study used general scientific methods, including analysis and synthesis, compariso...

Subject. The article investigates methodological aspects when analyzing the effectiveness of export and import operations and assessing the export potential of organizations. Objectives. The study aims at developing the theoretical and methodological aspects of export efficiency analysis through elaborating the system of contributing factors. Methods. I employ methods of qualitative analysis and review of scholarly papers, data collection, systematization, quantification, including the grouping, structuring, and formalization; graphical analysis; methods of evaluation and disclosure of foreign economic transactions in financial statements; financial analysis techniques. Results. The paper systematizes factors of export efficiency growth by criteria of control and management efficiency; determines the parameters of organization of payments that affect the efficiency of export and import operations. It also offers a system of foreign exchange risk indicators based on parameters of payments, and recommendations for expanding the information capacity of financial statements. Conclusions. The factors that regulate the efficiency of foreign trade operations and strengthen export potential include the currency and organization of payments. The management of these factors rests on the analysis and evaluation of certain currency risk indicators by parameters of payments. To improve the quality of this process, it is advisable to expand the information capacity of financial statements as to reflecting the recommended system of indicators.

Subject. This article analyzes the regularities of the processes of application of earnings management methods in the absence of tax incentives and in conditions of limited use of financial incentives. Objectives. The article aims to identify trends in the use of earnings management methods in the absence of tax incentives and in conditions of limited application of financial ones, and substantiate a set of analytical procedures for their identification to enhance the reliability of the organization's financial situation assessment. Methods. For the study, reviewing academic papers on the subject matter, I used the general scientific cognition methods of comparison, generalization, grouping, systematization, and the principle of historicism. Results. The article defines the most important financial incentives, including the tax ones, when earnings management is aimed at reducing or redistributing the tax burden, and financial incentives in terms of positioning in the stock market and adjusting dividend payments. The article finds the regularities of changes in individual financial indicators helping identify enterprises that likely use earnings management methods in terms of accounting for exchange rate differences. Conclusions and Relevance. The research shows that the probability of applying earnings management methods remains in the absence of discernible financial benefits in the short term in terms of reducing the tax burden or the possibility of attracting additional external financing in the financial markets. The unique character of the research lies in the study of the practice of applying earnings management methods in the absence of apparent financial incentives.

Subject. This article discusses up-to-date promotional marketing activities designed to attract customers and increase sales. Objectives. The article aims to develop a methodology for accounting for marketing tools to stimulate sales, which helps improve the quality of assessing the financial position of an organization. Methods. For the study, we used the methods of analysis, comparison, generalization, grouping, and systematization. Results. The article proposes an accounting methodology for marketing tools to stimulate sales distributed over time and certain recommendations for calculating the value of the accounting object Obligation to Customer. Conclusions and Relevance. The current Belarusian and Russian regulatory legal acts governing the accounting procedure for marketing tools to stimulate sales are covering just some issues related to marketing activity accounting. There is no differentiation between accounting for sales transactions using marketing promotion tools distributed over time and the one for sales transactions using marketing promotion tools not distributed over time. This necessitates further scientific research in the field of accounting for marketing promotion tools distributed over time. The results of the study can be useful in practical activities of enterprises, certain provisions of the legislation in the field of accounting for marketing, and educational activities in terms of methods of accounting for marketing tools to stimulate sales.