CALCULATION OF FINANCIAL INDICATORS IN A SINGLE-ENTRY ACCOUNTING SYSTEM

The company’s accounting data are a base for the analysis of its business performance. As provided by the legislation, the company can choose whether the accountancy is maintained in a single-entry or in a double-entry system. Exploiting the financial analysis formulas, an economic performance analysis could be easily enough performed by the enterprises keeping their accounts in accordance with the accrual principle. If the accounting registers are kept in a single-entry system, data provided in the financial reports cannot be used to perform the analysis employing the formulas of the financial analysis. Currently, in Latvia, the single-entry accounting systems are commonly used by the farming enterprises. These businesses often apply for various funding, hence the analysis of diverse indicators is required, though it cannot be performed using the existing financial report data. The paper aims to identify the differences between a single-entry and a double-entry accounting systems, to explore opportunities to modify and to adjust the formulas calculating the financial indicators, so they can be used in a single-entry accounting system. As a result of the research, there has been developed a methodology that allows relating the cash-based accounting indicators with the accrual-based accounting indicators. Consequently, the appropriate information could be obtained for the economic performance analysis by the companies using the single-entry accounting system. Applied research methods: the monographic or descriptive research method as well as the synthesis method, the modelling and the document analysis method

THEORETICAL AND METHODOLOGICAL ASPECTS FOR THE DEVELOPMENT OF A CREATIVE ECONOMY IN THE CONTEXT OF THE FORMATION OF AN INNOVATIVE BUSINESS ECOSYSTEM

The aim of the study is to analyze the theoretical basis of creative economy and its development trends in the context of innovative business ecosystems formation. The scientific novelty of the research consists in solving the most important scientific and applied problem - further development of theoretical provisions of creative economy, ecosystems, as well as substantiation of the conceptual approach to the formation of innovative business ecosystem as a coherent management model. In the process of research, general scientific and special methods were used: scientific abstraction, deduction, analysis and synthesis, system and critical analysis, structural-logical, ascending from the abstract to the concrete, and statistical analysis. It has been substantiated that the priority development of creative economy as a strategic driver of sustainable development is the formation of an ecosystem conducive to the development of complex non-linear dynamic innovation processes, development of value propositions and value chain. The analysis of theoretical and methodological aspects of formation and functioning of ecosystems indicates the lack of development of this problem and the need to develop scientific approaches to their identification. Generalization of the results of theoretical analysis allowed us to group ecosystems according to the identified attributes into five main types. It was substantiated that a sustainable business ecosystem is a favorable environment for innovation to increase its value and contribute to the achievement of sustainable development goals. It is proposed to consider a sustainable "business ecosystem" as a coherent management model with established characteristics, which describes an aggregate system of business ecosystem modules that interact with each other and are focused on co-creation and co-production of value.