Financial statements as an information base for the analysis and management decisions

The processes and events taking place in an organization, and the results of financial and economic activity are represented by a variety of information which in turn in the aggregate forms an information base for analysis. The leading place among the information needed for the analysis is taken by accounting data and financial reports of the company to which, in turn, increased requirements are applied at the present stage of improvement accounts and records. However, the data of financial statements of Russian companies for a number of years, as a rule, are not comparable due to the frequent changes in accounting policy caused by changes in legislation, registration forms, as well as failing to take inflation into account. The main reasons for the low demand for accounting data for managerial purposes are that in most cases they were incomplete, and also financial statements were low reliable. We have selected two groups of respondents for their study the first of them consists of the heads of Russian companies reporting under RAS (Russian Accounting Standards), and the second of CEOs of the companies that prepare financial statements both under RAS and IFRS. Based on the survey, we found that the companies preparing the statements both in accordance with RAS and IFRS, have more accurate figures of financial statements than the companies that use RAS. We have found that financial statements data are more in demand to external users than the internal ones, and the reason for this is the lack for external users of other sources of information, while internal users use all possible sources of additional information about the property and financial condition of an enterprise

Formation of competitive advantages of banking systems of Russia, China and the United States in the concept of National Interest

Competitive advantages of the banking sector of a country, forming the complex of features, the banking system characteristics and the banking sector's assets allow it to compete with foreign banks. At the same time any government replying upon the national interests, immediately wants to protect the competitiveness of financial institutions of the country. After formation of the WTO in 1995, none of the countries, which joined the WTO, could not avoid the permit of the foreign branches being present in their territory. Participation in the WTO not only provides opportunities for the banks of the country, but also confronts them with the numerous new challenges. It complicates the process of protecting the banks from foreign competition. Under such circumstances, no doubt, the role of the regulator of the banking system which generates and controls it on the basis of economic development and national interests is increasing. The article undertakes the study of the features of competitive advantages of banking systems in the US, China and Russia. The states have similar aims of development of the banking systems consisting in ensuring the stability in the financial sector, strengthening the cash flow, improving the efficiency of banks, optimal distribution of monetary resources in the economy, etc. The comparison of the emerging market systems in Russia and China, as well as the identification of patterns of transition from the controlled economy to the market system is of great scientific and practical interest. The authors of the article have come to certain conclusions about the prospects for the development of competitive advantages of Russia, the USA and China

Systematization of expert evaluations in terms of intellectual property commercialization

© Medwell Journals, 2015. An increasing significance, within the framework of sustained development of the Russian economy is taken on by innovative economy, since this is where occurs the transformation of scientific and technical products, based on the results of fundamental and applied research into market products with high consumer properties. The need to accelerate the commercialization of the most advanced innovations is caused by aggravation of competition in the world markets under rapid development of science and technology, accompanied by a huge number of new ideas, inventions and discoveries. It is imperative to choose the most preferred, in terms of maximizing the benefits, uses of intellectual property. In the context of this research, it is suggested reviewing the method of expert evaluations a questionnaire method of ranking for direction of the commercialization of intellectual property by way of the example of a patent for "Method of Core Examination via the Analysis of its Coloration" (hereinafter, the object of intellectual property). The ranking method is applied to organize the information according to a factor when it is not required or impossible its precision measurement. According to the results of the survey in terms of the group peer review, it has been defined the most preferred direction of the commercialization of intellectual property for the "Method of Core Examination via the Analysis of its Coloration". The proposed method is applicable in the areas where quantitative assessment of the object is impossible or extremely difficult

Financial statements as an information base for the analysis and management decisions

The processes and events taking place in an organization, and the results of financial and economic activity are represented by a variety of information which in turn in the aggregate forms an information base for analysis. The leading place among the information needed for the analysis is taken by accounting data and financial reports of the company to which, in turn, increased requirements are applied at the present stage of improvement accounts and records. However, the data of financial statements of Russian companies for a number of years, as a rule, are not comparable due to the frequent changes in accounting policy caused by changes in legislation, registration forms, as well as failing to take inflation into account. The main reasons for the low demand for accounting data for managerial purposes are that in most cases they were incomplete, and also financial statements were low reliable. We have selected two groups of respondents for their study the first of them consists of the heads of Russian companies reporting under RAS (Russian Accounting Standards), and the second of CEOs of the companies that prepare financial statements both under RAS and IFRS. Based on the survey, we found that the companies preparing the statements both in accordance with RAS and IFRS, have more accurate figures of financial statements than the companies that use RAS. We have found that financial statements data are more in demand to external users than the internal ones, and the reason for this is the lack for external users of other sources of information, while internal users use all possible sources of additional information about the property and financial condition of an enterprise

Formation of competitive advantages of banking systems of Russia, China and the United States in the concept of National Interest

Competitive advantages of the banking sector of a country, forming the complex of features, the banking system characteristics and the banking sector's assets allow it to compete with foreign banks. At the same time any government replying upon the national interests, immediately wants to protect the competitiveness of financial institutions of the country. After formation of the WTO in 1995, none of the countries, which joined the WTO, could not avoid the permit of the foreign branches being present in their territory. Participation in the WTO not only provides opportunities for the banks of the country, but also confronts them with the numerous new challenges. It complicates the process of protecting the banks from foreign competition. Under such circumstances, no doubt, the role of the regulator of the banking system which generates and controls it on the basis of economic development and national interests is increasing. The article undertakes the study of the features of competitive advantages of banking systems in the US, China and Russia. The states have similar aims of development of the banking systems consisting in ensuring the stability in the financial sector, strengthening the cash flow, improving the efficiency of banks, optimal distribution of monetary resources in the economy, etc. The comparison of the emerging market systems in Russia and China, as well as the identification of patterns of transition from the controlled economy to the market system is of great scientific and practical interest. The authors of the article have come to certain conclusions about the prospects for the development of competitive advantages of Russia, the USA and China

Formation of competitive advantages of banking systems of Russia, China and the United States in the concept of National Interest

Competitive advantages of the banking sector of a country, forming the complex of features, the banking system characteristics and the banking sector's assets allow it to compete with foreign banks. At the same time any government replying upon the national interests, immediately wants to protect the competitiveness of financial institutions of the country. After formation of the WTO in 1995, none of the countries, which joined the WTO, could not avoid the permit of the foreign branches being present in their territory. Participation in the WTO not only provides opportunities for the banks of the country, but also confronts them with the numerous new challenges. It complicates the process of protecting the banks from foreign competition. Under such circumstances, no doubt, the role of the regulator of the banking system which generates and controls it on the basis of economic development and national interests is increasing. The article undertakes the study of the features of competitive advantages of banking systems in the US, China and Russia. The states have similar aims of development of the banking systems consisting in ensuring the stability in the financial sector, strengthening the cash flow, improving the efficiency of banks, optimal distribution of monetary resources in the economy, etc. The comparison of the emerging market systems in Russia and China, as well as the identification of patterns of transition from the controlled economy to the market system is of great scientific and practical interest. The authors of the article have come to certain conclusions about the prospects for the development of competitive advantages of Russia, the USA and China

Formation of competitive advantages of banking systems of Russia, China and the United States in the concept of National Interest

Competitive advantages of the banking sector of a country, forming the complex of features, the banking system characteristics and the banking sector's assets allow it to compete with foreign banks. At the same time any government replying upon the national interests, immediately wants to protect the competitiveness of financial institutions of the country. After formation of the WTO in 1995, none of the countries, which joined the WTO, could not avoid the permit of the foreign branches being present in their territory. Participation in the WTO not only provides opportunities for the banks of the country, but also confronts them with the numerous new challenges. It complicates the process of protecting the banks from foreign competition. Under such circumstances, no doubt, the role of the regulator of the banking system which generates and controls it on the basis of economic development and national interests is increasing. The article undertakes the study of the features of competitive advantages of banking systems in the US, China and Russia. The states have similar aims of development of the banking systems consisting in ensuring the stability in the financial sector, strengthening the cash flow, improving the efficiency of banks, optimal distribution of monetary resources in the economy, etc. The comparison of the emerging market systems in Russia and China, as well as the identification of patterns of transition from the controlled economy to the market system is of great scientific and practical interest. The authors of the article have come to certain conclusions about the prospects for the development of competitive advantages of Russia, the USA and China

Systematization of expert evaluations in terms of intellectual property commercialization

© Medwell Journals, 2015. An increasing significance, within the framework of sustained development of the Russian economy is taken on by innovative economy, since this is where occurs the transformation of scientific and technical products, based on the results of fundamental and applied research into market products with high consumer properties. The need to accelerate the commercialization of the most advanced innovations is caused by aggravation of competition in the world markets under rapid development of science and technology, accompanied by a huge number of new ideas, inventions and discoveries. It is imperative to choose the most preferred, in terms of maximizing the benefits, uses of intellectual property. In the context of this research, it is suggested reviewing the method of expert evaluations a questionnaire method of ranking for direction of the commercialization of intellectual property by way of the example of a patent for "Method of Core Examination via the Analysis of its Coloration" (hereinafter, the object of intellectual property). The ranking method is applied to organize the information according to a factor when it is not required or impossible its precision measurement. According to the results of the survey in terms of the group peer review, it has been defined the most preferred direction of the commercialization of intellectual property for the "Method of Core Examination via the Analysis of its Coloration". The proposed method is applicable in the areas where quantitative assessment of the object is impossible or extremely difficult

Systematization of expert evaluations in terms of intellectual property commercialization

© Medwell Journals, 2015. An increasing significance, within the framework of sustained development of the Russian economy is taken on by innovative economy, since this is where occurs the transformation of scientific and technical products, based on the results of fundamental and applied research into market products with high consumer properties. The need to accelerate the commercialization of the most advanced innovations is caused by aggravation of competition in the world markets under rapid development of science and technology, accompanied by a huge number of new ideas, inventions and discoveries. It is imperative to choose the most preferred, in terms of maximizing the benefits, uses of intellectual property. In the context of this research, it is suggested reviewing the method of expert evaluations a questionnaire method of ranking for direction of the commercialization of intellectual property by way of the example of a patent for "Method of Core Examination via the Analysis of its Coloration" (hereinafter, the object of intellectual property). The ranking method is applied to organize the information according to a factor when it is not required or impossible its precision measurement. According to the results of the survey in terms of the group peer review, it has been defined the most preferred direction of the commercialization of intellectual property for the "Method of Core Examination via the Analysis of its Coloration". The proposed method is applicable in the areas where quantitative assessment of the object is impossible or extremely difficult