Techniques for assessing the investment attractiveness of a commercial organization based on classical methods of strategic economic analysis

Purpose: The development of methodological support for assessing the investment attractiveness of a commercial organization, considering modern information requests of stakeholders. Design/Methodology/Approach: As part of the research, the authors have developed an algorithm for investment attractiveness assessment of a commercial organization by using the scenario method of economic analysis. Findings: It is proved that the main disadvantages of the existing methods of assessing investment attractiveness are: the lack of strategic orientation of the assessment; ignoring the influence of most external and internal factors of activity; the inability to assess the risk of investing in the analyzed object; the need to compare with the level of investment attractiveness of similar organizations for an objective interpretation of the results. Practical implications: To eliminate the significant shortcomings of modern methodological support in this area, the authors recommend the use of scenario method of strategic economic analysis in the process of assessing the investment attractiveness of the organization. Originality/Value: The scenario method of strategic economic analysis proposed by the authors complements the existing approaches with the ability to take into account potential risks when making a far-sighted decision to invest in an organization by combining the results of retrospective analysis and forecasting changes in the quantitative and qualitative characteristics of financial and economic activity.peer-reviewe

Principles of forming a modern accounting and analytical model of commercial organization in digital economy

Purpose: The article presents basic methodological approaches to the creation of a new model of forming and functioning of the accounting and analytical system to meet the information needs of internal and external stakeholders of organizations. Design/Approach/Methodology: Substantiation of the principles of building a system for accounting and analytical information management that meets current conditions for the business functioning using modern hardware and software. Findings: The developed model of cascade functioning of organization’s information support system optimizes the structure and content of accounting and analytical modules, contributes to the effective implementation of management functions, timely control and rapid response to the impact of negative factors. Practical implications: The principles of information flow management system constructing formulated in the article contribute to optimization of expenses for organization of accounting and analytical functions, improvement of quality of financial and non-financial reporting, realistic assessment and forecasting of business efficiency. Originality/Value: The proposed new model for constructing an accounting and analytical information base allows to improve the procedures of collection, processing, storage and disclosure of financial and non-financial information, to create a balanced structure of the database on the basis of cascade digitization of primary and derived data.peer-reviewe

Investment attractiveness of small innovational business under the conditions of globalization and integration

Purpose – The purpose of the article is to study the problems and perspectives of increase of investment attractiveness of small innovational business under the conditions of globalization and integration. Design/methodology/approach – With the help of corresponding methods of conduct of scientific research, the work performs comparative analysis of approaches to determination of small innovational business and SWOT analysis of attraction of investments into development of small innovational business under the conditions of globalization and integration. Findings – The authors determine peculiarities of functioning and development of small innovational business under the conditions of globalization and integration and determine problems and perspectives of attraction of investments into development of small innovational business under the conditions of globalization and integration. Originality/value – The most important item of scientific novelty of this work is the proprietary mechanism of increase of investment attractiveness of small innovational business under the conditions of globalization and integration.peer-reviewe

Current Issues of Evaluating the Effectiveness of Public Procurement

Public procurement under the contract system plays an important role in the development of the country's economy. The volume of state ownership and the volume of public procurement are impressive in their scale. Within the framework of the contract system, one of the priority goals is to increase the efficiency of state and municipal procurement. This article analyzes the existing indicators of the effectiveness of state and municipal procurement and provides recommendations for expanding the range of these indicators

Statistical methods for analyzing financial statements of Russian organizations in the context of IFRS implementation

In the context of the transition to international financial reporting standards (hereinafter - IFRS), issues of bringing Russian financial statements closer to an international format are of relevance. In order to develop Russian reporting adapted to the new requirements of the format, the authors have conducted polls of the accounting services of large, medium and small business organizations about the desirability of including the indicators from the minimum list of international reporting articles in their reports. Based on the methods used by the Institute of Statistics in the study of Russian financial statements methods of selective observation, questioning, methods of processing the data obtained, namely, calculating the proportion of reporting indicators using the A. Salai and V. Ryabtsev index, the authors justify the inclusion in the Russian financial reporting a series of indicators proposed by IFRS. The results of the study can be used in the transformation of statements, as well as in the construction of consolidated financial statements generated in Russia in accordance with the requirements of IFRS.peer-reviewe

Institutional analysis of the regulatory and legal framework for financial reporting control in Russia

The study contains the main approaches to the determination of various institutions affecting Russian accounting from the standpoint of their formal and informal types. In modern conditions, the economic actions of a subject must be matched to external factors that determine the correctness of economic decision-making, as well as consistency and the development of correct patterns and behavior algorithms that are most effective for each specific situation. Through the institutional analysis, the authors have identified several inconsistencies in the regulatory framework of related institutions and suggested ways to eliminate these disparities. Inter-institutional discrepancies have been found between law and accounting institutions, indicating non-compliance in the accounting practice of the substance over form principle, between recognition in the bookkeeping and tax accounting of the transfer of assets and liabilities ownership, as well as differences in the recording of investment real estate in the financial statements according to IFRS institutions and Russian national standards.peer-reviewe

Sustainable development of territories based on the integrated use of industry, resource and environmental potential

Purpose: Attention to the problems of social and economic development of rural areas by Government authorities, economists and the scientific community was mainly theoretical or sometimes targeted practical in nature. Design/Methodology/Approach: At the same time, rural poverty and high unemployment rate, worsening demographic situation, reducing network of institutions of social infrastructure in rural areas, which together have a negative impact on the reproduction of labor resources, lower production volumes and high migration rates have always been the problems of rural development in the country. Findings: Overall, sustainable development of rural areas characterizes, on the one hand, external major natural resource constraints that form a distant prospect, and on the other hand, determine the possibilities of social and economic development of rural communities, economic entities, diversification of the territory's economy, the formation of new activities and environmental engineering. This is a very wide range of problems, which are currently considered from different perspectives in Russia and in several countries of the world. Practical implications: The article discusses the problems of economic development of rural areas as the main factor in ensuring the sustainable development of rural areas of the agrarian regions of Russia. Originality/Value: The authors define the core resources for development of the rural areas in the region, provide an overview of agribusiness and tourism industry clusters, reveling their points of growth, cluster sales channels, tourism and recreation development.peer-reviewe

Institutional methodology of the formation of the public sector reporting concept in accordance with IPSAS

The author explores the essence of Russian statement of financial position of state sector entities. The approach to the features of the balance sheet is based on analyzing the classification of legal entities in the norms of the Civil Law of the Russian Federation. The objective of the article is determination of public sector reporting entity as well as a development of draft report on the financial position of the public sector entities. The author applies the institutional methodology in evolving perceptions of financial statements the reporting public sector entities have developed in the context of transition to international public sector accounting standards (hereinafter - IPSAS). The methodology is based on a detailed analysis of the legal framework of various related institutions: law, budget accounting, international financial reporting standards (hereinafter - IFRS) and other institutions. The results of the study justify and develop a new concept of public sector reporting entities. Given the new concept, the draft statement of financial position for Russian public sector entities was developed, which is universal for both state-owned (budgetary) and autonomous institutions.peer-reviewe

Transformation of the tax system during the Middle Ages : the case of Russia

The reorganization of the world and its globalization, a new turn of migration processes led to the appearance of problems that had not previously disturbed into the modern society. Consequently, nowadays there is a need to study the historical past so that we could understand the modern trends. The origin of modern problems, phenomena, processes and, especially, their appearance can be traced using the example of economic and political systems that have existed before. In this regard, it would be especially interesting to trace the specific aspects of modern taxation, why the Eastern and European tax collection systems occurred to be different, what influenced the formation of the mechanism of tax collection in different countries in the past, and, most importantly, how the interaction of the Asian and European taxation systems created the specifics of tax collection in the "middle" countries of Eastern Europe. The presented article is devoted to the analysis of the development of the taxation system of the feudal states of Eastern Europe such as Volga Bulgaria, Ulus Dzhuchi and the Kazan vilayet in the first half of the 16th century. While comparing them with the fiscal systems of the countries of the Muslim East, using the reports of Arab-Persian travelers, information from the Russian sources and information from Khan yarlyks, the authors analyze the diversity in the evolution of the of tax system and the extortion of a huge part of the population of Eastern Europe.peer-reviewe