WAYS TO MINIMIZE THE USE OF CREATIVE ACCOUNTING PRACTICES IN CORPORATE STRUCTURES

Abstract

Tsaruk V.Yu. WAYS TO MINIMIZE THE USE OF CREATIVE ACCOUNTING PRACTICES IN CORPORATE STRUCTURES

Purpose. The aim of the article is selection and substantiation of ways to minimize the use of creative accounting practices in corporate structures.

Methodology of research. The theoretical basis of the research is the scientific works of domestic and foreign scientists on the problems of forming ways to minimize the use of creative accounting practices in corporate structures. The following methods are used to achieve the goal of the study: general scientific methods (abstraction, comparison, generalization, analysis, synthesis) – to know the basic elements of accounting practices; critical analysis and systematic approach – in the disclosure of creative accounting practices in corporate structures; abstract and logical method – to formulate the conclusions of the study.

Findings. The existence of the problem of applying creative accounting practices by managers of corporate structures is substantiated. The existing approaches of researchers to solving the problem of the application of creative accounting practices are analysed. The peculiarities of the application of corporate governance tools to minimize creative accounting practices are revealed.

Features of application of accounting tools for minimization of creative accounting practices are revealed. The features of implementation of accounting principles at the level of national and international accounting standards are considered.

Originality. A matrix classification of ways for minimizing creative accounting practices in the corporate governance system is developed. The main groups of ways to minimize the use of creative accounting practices in corporate structures are highlighted. The necessity to improve the process of choosing from the alternatives available in the standards based on the application of qualitative characteristics of accounting information is substantiated.

Practical value. In the absence of accounting regulation to minimize creative accounting practices, the feasibility of using the principle of analogy and adherence to the highly ethical culture of accounting service employees is substantiated.

Key words: corporate governance; transparency; creative accounting practices; accounting principles; accounting ethics.