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VOL. XLVII, 4 SECTIO H 2013
Lviv Polytechnic National University, Department of Accounting and Analysis
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Income as an accounting evaluation
of company operating efficiency
'RFKyGMDNRRFHQDUDFKXQNRZDHIHNW\ZQRĞFLRSHUDF\MQHMVSyáNLKey words: income, profit, financial reporting, company operating efficiency
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Income of companies is one of the most important indices of their operating HIILFLHQF\ REMHFWLYHO\ GHWHUPLQLQJ LWV SULRULW\ UROH DPRQJ WKH LQGLFDWRUV H[SUHVV-ing financial interests of many entities of the market economy. It is the amount of income that is the relevant information inducing them to make certain managerial decisions on the activity of income generating economic agent. Such concern with LQFRPHGHILQHVLWDVRQHRIWKHPDLQREMHFWVRIDFFRXQWLQJDQGQHFHVVLW\RILQIRUPLQJ JHQHUDOSXEOLFDERXWLWVYDOXHGHWHUPLQHVRQHRIWKHSXUSRVHVRIILQDQFLDOUHSRUWLQJ preparation and presentation.
However, the imperfection of accounting methodology, particularly in the evalu-ation of company performance and their financial and property status, has resulted in OHYHOLQJE\ILQDQFLDOUHSRUWLQJLWVUROHDVDWRROIRUPDUNHWHQWLW\LQIRUPDWLRQVXSSRUW and has led to the demand for other, alternative for reporting, procedures to determine the operating efficiency and economic potential of the enterprises. The use of such DOWHUQDWLYHSURFHGXUHVZKLFKKDYHQRWEHHQFOHDUO\IRUPDOL]HGDQGSXEOLFO\RSHQHG DYDLODEOH JDYHDVDUXOHWKHVXEMHFWLYHRYHUHVWLPDWHGUHVXOWVLQWKHHYDOXDWLRQRI
ERWKWKHSRWHQWLDODQGSHUIRUPDQFHRIFRPSDQLHVFHUWDLQO\EDVHOHVVO\VWLPXODWLQJWKH JURZWKRIPDUNHWVDQGDFFRUGLQJWRWKHRSLQLRQRIPDQ\H[SHUWVKDVEHFRPHRQHRI the main factors of the onset of the financial and economic crisis. As a result, the need IRUUHWXUQWRWKHIRUPDOLQVWUXPHQWVRILQIRUPDWLRQVXSSRUWRISXEOLFFKDUDFWHULHWKH corporate financial reporting, has grown up in the society. However, such reporting PXVWJDLQDTXDOLWDWLYHO\QHZIRUPDWLQSDUWLFXODUZLWKUHVSHFWWRUHSUHVHQWDWLRQV RIWKHSRVLWLRQDQGSHUIRUPDQFHUHVXOWVRIWKHFRPSDQLHVDQGDPRQJRWKHUVUHTXLUHV the development of a conceptual framework of income accounting interpretation.
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,QFRPH LV D PXOWLIDULRXV PXOWLGLPHQVLRQDO HFRQRPLF FDWHJRU\ LQ DFFRXQWLQJ science, and its content in various accounting theories, concepts or paradigms can EH LQWHUSUHWHG LQ GLIIHUHQW ZD\V 6FLHQWLVWV (6 +HQGULNVHQ DQG 0) 9DQ %UHGD exploring the category of income in accounting, apply scientific approaches to the GHVFULSWLRQ RI DFFRXQWLQJ DV D ODQJXDJH RI EXVLQHVV ± SUDJPDWLF VHPDQWLFDO DQG V\QWDFWLFDO>(OGRQ6+HQGULNVHQ0LFKDHO)9DQ%UHGD, 2000, pp. 205–215].
$SUDJPDWLFDSSURDFKJLYHVWKHSRVVLELOLW\WRILQGRXWKRZWKHLQIRUPDWLRQRQ income affects its users. This approach involves the study of understanding the es-VHQFH RI LQFRPH E\ YDULRXV JURXSV RI LQIRUPDWLRQ XVHUV WDNLQJ LQWR DFFRXQW WKHLU LQIRUPDWLRQQHHGV7KHPDLQXVHUVRIWKHLQIRUPDWLRQRQWKHFRPSDQ\LQFRPHDUH founders, investors, shareholders, top management, employees and the state, which KDYHDGLUHFWILQDQFLDOLQWHUHVWZKLFKLPSOLHVWKHGLVWULEXWLRQRILQFRPHDVZHOODV creditors, trade unions, non-governmental and other organizations with an indirect ILQDQFLDOLQWHUHVWZKLFKDSSHDUVLQWKHSRVVLELOLW\RISURYLGLQJDKLJKOHYHORIILQDQFLDO VWDELOLW\DQGVROYHQF\RIWKHFRPSDQ\WKDWHQVXUHVLWVIXUWKHUDFWLYLW\HWF
Investors and shareholders are primarily concerned with the size of their return on invested capital, including net income and earnings per share. For top manage-PHQWERWKWKHLQIRUPDWLRQRQQHWLQFRPHDQGWKHDPRXQWRIHDUQLQJVSHUVKDUHKDV a significant interest, since it defines the investment attractiveness of the company, as ZHOODVWKHLQIRUPDWLRQDERXWWKHDPRXQWRIRSHUDWLQJLQFRPHDVDPHDVXUHRIPDLQ activity efficiency that provides continued existence and development of the company. Employees are interested in the amount of income that is directed to replenish the SD\UROO IRUERQXVHVRURWKHULQFHQWLYHSD\PHQWV SHQVLRQVHWF7KH6WDWHLVSULPDU-LO\LQWHUHVWHGLQWKHSDUWRILQFRPHWKDWLVSDLGWRWKHEXGJHWLQWKHIRUPRIFHUWDLQ WD[DOWKRXJKLWVLQWHUHVWLQWKHSURILWDELOLW\RIFRPSDQ\IXQFWLRQLQJFDQEHFDXVHG E\PDQ\RWKHUIDFWRUV VXFFHVVIXOSHUIRUPDQFHRILQGLYLGXDOFRPSDQLHVLVWKHNH\WR VRFLDODQGHFRQRPLFZHOIDUHRIWKHVRFLHW\HWF 0DLQO\UHTXHVWVRIXVHUVZKRKDYHGLUHFWILQDQFLDOLQWHUHVWLQWKHFRPSDQ\LQFRPH DIIHFWWKHIRUPDWLRQRIDFFRXQWLQJGDWDDERXWLW+RZHYHUWKHOLVWRIWKRVHXVHUVLVQRW well-defined and in different accounting concepts of income it may include only the
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A semantic approach allows us to explore the meaning of income as an economic category. From the financial and economic point of view income reflects the additional YDOXHRILQYHVWHGFDSLWDO7KXVWKHGHILQLWLRQRILWVFRQWHQWVVKRXOGEHGRQHLQWKH context of accounting interpreting category of capital.
From the position of impact of composition and structure of invested company capital on the essence of income in the accounting reflection of its formation and GLVWULEXWLRQVFLHQWLVWVGLVWLQJXLVKGLIIHUHQWWKHRUHWLFDOFRQFHSWV proprietary theory; entity theory; UHVLGXDOHTXLW\WKHRU\ enterprise theory; IXQGWKHRU\>(OGRQ6+HQGULNVHQ0LFKDHO)9DQ%UHGDSS±@ According to the proprietary theory, all assets of the enterprise with the deduction RIOLDELOLWLHVDUHFRQVLGHUHGWREHWKHSURSULHWRUVKLSRILWVIRXQGHUDQGUHIOHFWWKHFRVW RILQYHVWHGFDSLWDO7KXVDQ\LQFUHDVHLQLQYHVWHGFDSLWDO SURSHUW\ LVLGHQWLILHGDV income of enterprise owner.
According to the entity theory company operation is considered separately from its RZQHUVDQGDOOLWVFDSLWDO±DVFRQWULEXWHG)URPWKHHQWHUSULVHYLHZSRLQWLWLVRIQR LPSRUWDQFHZKRLQYHVWHGWKHFDSLWDO±WKHVKDUHKROGHUV HTXLW\ RUWKHFUHGLWRUV GHEW FDSLWDO ±DOORIWKHPDUHUHJDUGHGDVLQYHVWRUVEXWZLWKGLIIHUHQWOHYHOVRIFODLPLQJ SULRULW\ IRU LQFRPH RU DVVHWV >(OGRQ 6 +HQGULNVHQ 0LFKDHO ) 9DQ %UHGD, 2000, p. 226]. 1HWLQFRPHLQHQWLW\WKHRU\LVLGHQWLILHGDVDVXUSOXVRIHTXLW\ augmentation DIWHUGHGXFWLQJSD\PHQWVIRUGHEWFDSLWDO LQWHUHVWRQORDQV DQGWD[+RZHYHUWKLV WKHRU\FRQVLGHUVWKHLQWHUHVWRQORDQVQRWDVH[SHQVHVEXWDVGLVWULEXWLRQRIFRUSRUDWH LQFRPH>(OGRQ6+HQGULNVHQ0LFKDHO)9DQ%UHGD, 2000, p. 482].
5HVLGXDO HTXLW\ WKHRU\ LOOXVWUDWHV WKH UHODWLRQVKLS DPRQJ YDULRXV VWDNHKROGHUV RIWKHFRPSDQ\FDSLWDO,WLVIRFXVHGRQFRQFHSWXDOEDVHOLQHRILQIRUPDWLRQ forma-tion on financial and property status and operating efficiency of the company for holders of ordinary shares. Therefore, the main relevant indicator of income in this theory is the net income after paying interest on loans, income tax and dividends on preferred shares.
According to the enterprise theory, each company is a social institution the activ-ity of which is to meet the interests of many social groups – shareholders, creditors, HPSOR\HHVFXVWRPHUVSXEOLFDXWKRULWLHVSXEOLFHWF$FFRUGLQJWR(6+HQGULNVHQ DQG0)9DQ%UHGDWKHEHVWDSSURDFKIRULQFRPHRIVXFKDFRPSDQ\LQWHUSUHWDWLRQ is the concept of value added which provides its identification as cumulative payments WRVKDUHKROGHUV GLYLGHQGV FUHGLWRUV LQWHUHVW HPSOR\HHV ZDJHV JRYHUQPHQW WD[HV DQGUHWDLQHGHDUQLQJV>(OGRQ6+HQGULNVHQ0LFKDHO)9DQ%UHGD, 2000, p. 485].
Under the fund theory WKHHQWHUSULVHRZQHUVDUHQRWWDNHQLQWRDFFRXQWDQGHT-uity is considered as a system of certain legal and financial restrictions on the use of
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Thus, the interpretation of income nature depends on the characteristics of the VXEMHFWZKLFKJHQHUDWHVWKHLQFRPH OHJDORUJDQL]DWLRQDOIRUPRIWKHFRPSDQ\RUHQ-WHUSULVHDQGVFRSHRIWKHLUDFWLYLWLHVHWF DVZHOODVRQWKHVXEMHFWZKRLVLQWHUHVWHG LQLQFRPH VKDUHKROGHUVFUHGLWRUVHPSOR\HHVVWDWHSXEOLFHWF
)RUPDOO\ WKH IRUPDW RI ILQDQFLDO UHSRUWLQJ VWLSXODWHG E\ ERWK 8NUDLQLDQ DQG LQWHUQDWLRQDOVWDQGDUGV ,)56 LQFOXGHVLIQRWGLUHFWO\GHVFULEHGDERYHLQFRPHLQGLFD-WRUVWKHQWKHLULQGLYLGXDOHOHPHQWVWKHLQWHJUDWLRQRIZKLFKDOORZVWRJHWWKHUHTXLUHG income value (as, for example, the amount of value added is not given as aggregate LQGLFDWRUEXWWKHUHLVLQIRUPDWLRQRQODERXUFRVWVDQGVRFLDOVHFXULW\LQFRPHWD[HV LQWHUHVWSDLGDQGGLYLGHQGV %XWLQSUDFWLFHWKHDFFRXQWLQJGHILQLWLRQRILQFRPHLV UDWKHUVXEMHFWLYH'LIIHUHQFHVEHWZHHQHFRQRPLFDQGDFFRXQWLQJLQFRPHSURYLGHWKH opportunity to understand a syntactic approach in its study.
A syntactic approach to the study of income in accounting involves the analysis of methods of its determination. The easiest way to formalize income reflects the difference of the company revenues and expenses. However, the economic nature of LQFRPHLVPXFKPRUHFRPSOLFDWHG ©WKHWHUP©LQFRPHªHTXDOO\UHIHUVWRWKHVXUSOXV of net assets at the end of the reporting period over the net assets, which were at the GLVSRVDORIWKHFRPSDQ\DWWKHEHJLQQLQJRIWKHUHSRUWLQJSHULRGLQFRPHUHPDLQV RQHRIWKHLQGLFDWRUVWKDWDUHWKHPRVWGLIILFXOWWRGHILQHREMHFWLYHO\ª>-6XWKHUODQG D. Canwell, 2005, p. 235]. 0HWKRGRILQFRPHDFFRXQWLQJLVEDVHGRQFHUWDLQSULQFLSOHVDVVXPSWLRQVFRQ-VWUDLQWVRUWHFKQLTXHVZKLFKDUHIRUPXODWHGDVDUHVXOWRIFHUWDLQDJUHHPHQWVEHWZHHQ WKHUHSUHVHQWDWLYHVRIWKHSURIHVVLRQDODFFRXQWLQJFRPPXQLW\DQGDVSRLQWHGRXWE\ WKHVFLHQWLVWVRIWHQGRQRWKDYHPDWFKHVLQUHDOHFRQRPLFOLIH>Eldon S. Hendriksen, 0LFKDHO ) 9DQ %UHGD, 2000, p. 205]. These principles, in particular, include the DFFUXDO EDVLV RI DFFRXQWLQJ ZKLFK LV WKH EDVH IRU PRVW QDWLRQDO DQG LQWHUQDWLRQDO ,)56 DFFRXQWLQJUHJXODWLRQVRUSULQFLSOHLPSDULW\ H[SHFWDWLRQRISRVVLEOHORVVHV SURYLGHGE\WKH*HUPDQ&RPPHUFLDO&RGH>-|UJ%DHWJH, p. 61]. As a result, the DFFRXQWLQJLQFRPHUDWKHUVXEMHFWLYHO\UHIOHFWVWKHUHDOSHUIRUPDQFHRIWKHFRPSDQ\ DQGLVWKHVXEMHFWRIVHYHUHFULWLFLVPE\YDULRXVH[SHUWVDQGVFLHQWLVWV
In contrast, economic income, unlike accounting, does not depend on various SULQFLSOHVRUUXOHV HVSHFLDOO\RQWKHLUSRVVLEOHFKDQJHV ZKLFKLQFUHDVHVWKHOHYHORI LWVREMHFWLYLW\+RZHYHULWLVYHU\GLIILFXOWWRGHWHUPLQHWKHHFRQRPLFLQFRPHIURP the systematic activity in the short term, especially for a single reporting period, if SRVVLEOHDWDOOWKDWLQWKHHQGKDVQHFHVVLWDWHGWKHIRUPXODWLRQRIFHUWDLQSULQFLSOHV and rules of income assessment in accounting.
7KHFKRLFHRIEDVLFFDSLWDOFRQFHSWZKLFKXQGHUOLHVFRPSRVLWLRQRIWKHILQDQFLDO reporting format and accounting methodology, significantly affects the method of LQFRPHGHWHUPLQDWLRQ7KHUHDUHWZREDVLFFRQFHSWVRIFDSLWDOPDLQWHQDQFH±SK\VLFDO and financial. Under the financial concept of capital maintenance, income is earned
RQO\LIWKHILQDQFLDO RUPRQH\ DPRXQWRIQHWDVVHWVDWWKHHQGRIWKHSHULRGH[FHHGV WKH ILQDQFLDO RU PRQH\ DPRXQW RI QHW DVVHWV DW WKH EHJLQQLQJRI WKH SHULRG DIWHU WKHH[FOXGLQJRIDQ\SD\PHQWVWRRZQHUVRURZQHUV¶FRQWULEXWLRQVGXULQJWKLVSH-riod. However, according to the physical concept of capital maintenance, income is UHFRJQL]HGLIWKHSK\VLFDOSURGXFWLYHFDSDFLW\ RURSHUDWLQJFDSDELOLW\ RIWKHHQWLW\ RUWKHUHVRXUFHVRUIXQGVQHHGHGWRDFKLHYHWKDWFDSDFLW\ DWWKHHQGRIWKHSHULRG H[FHHGV WKH SK\VLFDO SURGXFWLYH FDSDFLW\ DW WKH EHJLQQLQJ RI WKH SHULRG DIWHU WKH H[FOXGLQJRIDQ\SD\PHQWVWRRZQHUVDQGRZQHUV¶FRQWULEXWLRQVGXULQJWKLVSHULRG >&RQFHSWXDO)UDPHZRUN@
The concept of financial capital maintenance is aimed at evaluating the current financial performance of the company, while the concept of physical capital mainte-QDQFH±DWREMHFWLYHUHSUHVHQWDWLRQRIWKHILQDQFLDODQGSURSHUW\VWDWXV,PSRVVLELOLW\ RIVLPXOWDQHRXVDSSOLFDWLRQRIERWKFRQFHSWVKDVOHGWRWKHSUREOHPRIPHWKRGRORJLFDO dualism in assets evaluation.
Thus, the analysis of theoretical approaches to the studies of income nature in accounting shows that from the standpoint of efficiency and financial-economic status RIWKHFRPSDQ\UHSUHVHQWDWLRQLQLWVVWDWHPHQWVDFFRXQWLQJLQFRPHVHUYHVDVHTXLW\ regulative tool, reflecting the increase of its amount for the reporting period. The VDPHRSLQLRQLVKHOGE\PDQ\RWKHUVFLHQWLVWVRIDFFRXQWLQJGRPDLQ,QSDUWLFXODU,- <DUHPNRDUJXHVWKDW³LQFRPHDVZHOODVORVVGRHVQRWIRUPVHSDUDWHYDOXHVEXWWKH UHODWHGLQFUHDVH GHFUHDVH RISURSHUW\DQGFDSLWDO´0RUHRYHUWKHLQFRPH UHWDLQHG HDUQLQJV WKDW LV SUHVHQWHG LQ EDODQFH VKHHW KH RIIHUV WR WHUP ³SURILWDEOH FDSLWDO´ that “more accurately reflects the performance results of the economic unit in the SRVWLQGXVWULDOHFRQRP\DQGJOREDOFDSLWDOOLQNLQJ´>əɪɟɦɤɨȱɃ, pp. 67–68]. )LQDOO\LQWKHIXQGDPHQWDOVFLHQWLILFZRUN WUHDWLVH IRUDFFRXQWDQWV³'HWDLOVRI&DO-culation and Recording” Luca Pacioli defines the regulatory function for the income DFFRXQWLQJ>ɉɚɱɨɥɢɅ2001].
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Multidirectional interests of the market economy entities to the performance UHVXOWV RI WKH FRPSDQLHV OHDG WR GLYHUVLW\ RI WKHLU LQIRUPDWLRQ UHTXHVWV ZKLFK DUH GLIILFXOWWRPHHWE\WKHVLQJOHLQIRUPDWLRQWRRO– financial reporting. As a result, the PRGHUQIRUPDWRIILQDQFLDOUHSRUWLQJLVIRUPHGRQDFRPSURPLVHEDVLVEXWLWFDQQRW fully satisfy information needs of any group of its users.
The financial reporting conceptual framework defines as its main users existing and potential investors, lenders and other creditors whose decisions to purchase, sell or KROGHTXLW\LQVWUXPHQWVDQGGHEWLQVWUXPHQWVRUSURYLGHORDQVGHSHQGRQWKHLQFRPH WKDWWKH\H[SHFWWRJDLQIURPLQYHVWLQJLQWKHVHLQVWUXPHQWV>&RQFHSWXDO)UDPHZRUN@ $VVXPSWLRQVODLGGRZQE\WKHFRQFHSWXDOIUDPHZRUNWKDWLQFRPHIRUHFDVWRILQYHVWRUV
LVEDVHGSULPDULO\RQWKHLUHYDOXDWLRQRIQHWIXWXUHFDVKIORZVFUHDWHWKHFRQGLWLRQVIRU the application of the financial capital concept in the financial reporting preparation.
7KHILQDQFLDOUHSRUWLQJFRQFHSWXDOIUDPHZRUNIRFXVLQJRQLQIRUPDWLRQUHTXHVWVRI investors and creditors led to the shift of accounting models towards microeconomic SULRULWLHVDWWKHH[SHQVHRIVWDELOLW\7KDWUHTXLUHVUHLQWHUSUHWDWLRQRITXDOLWDWLYHDV-pects of accounting methodologies.
&XUUHQWUHJXODWLRQVRIILQDQFLDOUHSRUWLQJLQSDUWLFXODU*$$3KDYHEHHQZLGHO\ criticized for excessive orientation to income. According to experts, market entities in HYDOXDWLQJILQDQFLDOUHVXOWVDUHPRUHDQGPRUHRULHQWHGRQFDVK PRQH\ LQIORZVEXW QRWRQLQFRPHV>6DPXHO$'L3LD]]D-U5REHUW*(FFOHV, 2003, p. 57]. Moreover, taking into account market focusing on net income and earnings per share indicators, *$$3VWDQGDUGV HYHQWXDOO\WKHVDPHDVRWKHULQWHUQDWLRQDOUHJXODWLRQV±,)56 FRQ-WULEXWHWR³WKHJDPHLQLQFRPH´GXHWRWKHSRVVLELOLW\RILQFRPHDOLJQPHQWEHWZHHQ reporting periods.
Information alignment in financial reporting is necessary to create for potential LQYHVWRUVDJRRG³SLFWXUH´RIILQDQFLDODQGHFRQRPLFVWDWXVRQWKHEDVLVRIZKLFK IRUHFDVWVRIVWDEOHGLYLGHQGVZLOOEHPDGH7KDWDVDUHVXOWVKRXOGOHDGWRWKHLQ-FUHDVHLQVWRFNSULFH+RZHYHUVXFKLQIRUPDWLRQDOLJQPHQWE\DFFRXQWLQJPHWKRGVWR HQVXUHXQLIRUPWUHQGRISURILWDELOLW\LQGLFHVLQRXURSLQLRQZDVRQHRIWKHUHDVRQV for market refusal from reporting as a tool for information support of investment decision making.
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Thus, the amount of income, presented in financial reporting should reflect the LQFUHDVHLQFRPSDQ\HTXLW\DQGVKRXOGEHUHFRJQL]HGRQO\ZKHQVXFKLQFUHDVHKDV actually occurred. Therefore, the recognition and evaluation of revenues and expenses LVRQO\DPHWKRG ZD\ RIFDOFXODWLQJLQFRPHDQGWKHPHWKRGRORJ\LVEDVHGRQWKH principles and assumptions that reflect the “force of gravity” to the relevant concept of capital maintenance – financial or physical.
The analysis of modern approaches to the evaluation of income in accounting has showed the existence of alternative accounting methods, the choice of which directly affects the amount of the company’s income. It is worthwhile to agree with WKH RSLQLRQ WKDW ³DFFRXQWLQJ DQG DQDO\VLV LQ PDQ\ UHVSHFWV EHFDPH D VLJQLILFDQW IDFWRULQHQVXULQJWKHHFRQRPLFZHOOEHLQJRIEXVLQHVVUHVLGHQWVVRPHWLPHVGLUHFWO\ LQIOXHQFLQJWKHLUILQDOGHVWLQ\´>ȻɟɥɨɭɫɨɜȺɂ, p. 5]. However, the existence of such methods can induce top management of companies to changes in accounting SROLF\IRU³HPEHOOLVKPHQW´RU³DOLJQPHQW´RIWKHLUSHUIRUPDQFHLQGLFDWRUVLQILQDQ-FLDOUHSRUWLQJZKLFKLVVHHQE\VRPHH[SHUWVHYHQDVWKHPDQLSXODWLRQRIWKHPDUNHW HQWLW\RSLQLRQVDQGLVUHFRJQL]HGDVWKHELJJHVWGUDZEDFNRIDFFRXQWLQJUHSRUWLQJ as a formalized source of information support. However, other alternative reporting
methods of representation of company operating efficiency do not provide results ZLWKVXIILFLHQWOHYHORIREMHFWLYLW\DQGWUDQVSDUHQF\ %LEOLRJUDSK\ 1. %DHWJH-|UJ%LODQ]HQXEHUDUEHLWHWH$XIODJH,GZ9HUODJ*PE+ 'VVHOGRUI 5XVVLDQ HGLWLRQ3XEOLVKLQJ+RXVH %XKJDOWHUVNL\XFKHW, Moscow, 2000. 2. ȻɟɥɨɭɫɨɜȺɂɍɱɟɬɧɚɹɦɵɫɥɶ ɷɜɨɥɸɰɢɹɪɚɡɜɢɬɢɹ ɦɨɧɨɝɪɚɮɢɹȺɂȻɟɥɨɭɫɨɜȼɭɡɨɜɫɤɚɹ ɤɧɢɝɚɆS
3. 'L3LD]]D6DPXHO$-U(FFOHV5REHUW*The Future of Corporate Reporting, -RKQ:LOH\ 6RQV Inc., 2002.5XVVLDQHGLWLRQ$OSLQD3XEOLVKHU0RVFRZ
4. +HQGULNVHQ(OGRQ69DQ%UHGD0LFKDHO)Accounting Theory, McGraw-Hill Professional, 1991, Russian edition, Finance and Statistics, Moscow, 2000.
5. ɉɚɱɨɥɢɅɌɪɚɤɬɚɬɨɫɱɟɬɚɯɢɡɚɩɢɫɹɯɉɨɞɪɟɞəȼɋɨɤɨɥɨɜɚɎɢɧɚɧɫɵɢɫɬɚɬɢɫɬɢɤɚɆ 2001, 368 p.
6. Sutherland J., Canwell D., Key Concepts in Accounting and Finance, Palgrave MacM., 2004. 5XVVLDQHGLWLRQ%DODQFH%XVLQHVV%RRNV'QLSURSHWURYVN2005.
7. əɪɟɦɤɨȱɃȿɤɨɧɨɦɿɱɧɿɤɚɬɟɝɨɪɿʀɜɦɟɬɨɞɨɥɨɝɿʀɨɛɥɿɤɭ ɦɨɧɨɝɪɚɮɿɹȱɃəɪɟɦɤɨɄɚɦɟɧɹɪ Ʌɶɜɿɜ S
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Theoretical and conceptual approaches to defining the essence of income in the science of account-LQJDUHFRQVLGHUHGPHWKRGRORJLFDOEDVLVWRUHIOHFWLQFRPHLQWKHILQDQFLDOUHSRUWLQJDUHDQDO\]HGDQG WKHPDLQSUREOHPVRIREMHFWLYLW\UHSUHVHQWDWLRQLQFRPHVWDWHPHQWVRISXEOLFFRPSDQLHVDUHRXWOLQHG in the article.
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