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Analyzing the concept of financial capital in business accounting models and integrated reporting

Plotnikov V.S. Plekhanov Russian University of Economics, Sevastopol Branch, Sevastopol, Russian Federation ( vcplotnikov@yandex.ru )

Azrakuliev Z.M. Dagestan State Agrarian University named after M.M. Djambulatov, Makhachkala, Republic of Dagestan, Russian Federation ( azrakulievzamir@mail.ru )

Journal: Economic Analysis: Theory and Practice, #1, 2018

Importance The article analyzes the financial capital concept, which is considered as an asset of the organization (financial asset) rather than liabilities, like capital and reserves.
Objectives The aim is to recognize and classify assets of financial capital and its sources.
Methods The methodology of the study on financial capital value creation draws on the hypothesis that the international integrated reporting standard changes its philosophy and methodology of accounting as an economic science, to substantiate which the normative and positive economics and the economic art of integrated thinking were used.
Results We provide a rationale for classification of financial capital (assets) and sources of its creation, suggest and prove the hypothesis of business accounting and integrated reporting aimed at changing the philosophy of accounting and using for this purpose the integrated thinking to develop new approaches in business accounting methodology within the framework of the financial capital concept.
Conclusions Understanding the content and analyzing the concept of financial capital enabled to introduce goodwill to its structure as a market capitalization of a part of financial investment cost, identify processes of transaction costs capitalization when estimating the value of individual types of capitals of the organization.


The customer equity concept in integrated reporting: An analysis of theoretical background

Plotnikov V.S. Plekhanov Russian University of Economics, Sevastopol Branch, Sevastopol, Russian Federation ( vcplotnikov@yandex.ru )

Azrakuliev Z.M. Dagestan State Agrarian University named after M.M. Djambulatov, Makhachkala, Republic of Dagestan, Russian Federation ( azrakulievzamir@mail.ru )

Journal: International accounting, #24, 2017

Importance The concept of integrated reporting provides for the recognition of customer equity as an asset and determines a set of customers and market segments where a company intends to carry out its client-oriented activities. Customer equity is included in business valuation when investors make decisions about attractiveness of investment in the company.
Objectives The study aims to investigate accounting treatment and assessment of client-oriented activities that create the value of customer equity. This increases the role of business analysis and business accounting in the information support of various stakeholder groups.
Methods The methodology rests on the theory of supply and demand, the theory of transaction costs, the positive economics theory, the International Integrated Reporting Framework that helped substantiate our hypotheses about customer equity business accounting.
Results To underpin the methodology of customer equity business accounting, we suggest a number of hypothesis, namely, the customer equity is a non-identifiable asset and should be recognized as a separate element of the value of company's capital reserves; transaction costs of client-oriented activities should be capitalized and make a basis for customer equity valuation, and some others.
Conclusions The initial book value of customer equity is capitalized transaction costs of client-oriented activities, its residual value reflects a change in its stock value, its growth, or impairment. The latter is compensated by financial investments in client-oriented activities.


The customer equity concept in integrated reporting: An analysis of theoretical background

Plotnikov V.S. Plekhanov Russian University of Economics, Sevastopol Branch, Sevastopol, Russian Federation ( vcplotnikov@yandex.ru )

Azrakuliev Z.M. Dagestan State Agrarian University named after M.M. Djambulatov, Makhachkala, Republic of Dagestan, Russian Federation ( azrakulievzamir@mail.ru )

Journal: Economic Analysis: Theory and Practice, #11, 2017

Importance The concept of integrated reporting provides for the recognition of customer equity as an asset and determines a set of customers and market segments where a company intends to carry out its client-oriented activities. Customer equity is included in business valuation when investors make decisions about attractiveness of investment in the company.
Objectives The study aims to investigate accounting treatment and assessment of client-oriented activities that create the value of customer equity. This increases the role of business analysis and business accounting in the information support of various stakeholder groups.
Methods The methodology rests on the theory of supply and demand, the theory of transaction costs, the positive economics theory, the International Integrated Reporting Framework that helped substantiate our hypotheses about customer equity business accounting.
Results To underpin the methodology of customer equity business accounting, we suggest a number of hypothesis, namely, the customer equity is a non-identifiable asset and should be recognized as a separate element of the value of company's capital reserves; transaction costs of client-oriented activities should be capitalized and make a basis for customer equity valuation, and some others.
Conclusions The initial book value of customer equity is capitalized transaction costs of client-oriented activities, its residual value reflects a change in its stock value, its growth, or impairment. The latter is compensated by financial investments in client-oriented activities.


The concept of productive capital in business model accounting and integrated reporting

Plotnikov V.S. Plekhanov Russian University of Economics, Sevastopol Branch, Sevastopol, Russian Federation ( vcplotnikov@yandex.ru )

Azrakuliev Z.M. Dagestan State Agrarian University named after M.M. Djambulatov, Makhachkala, Republic of Dagestan, Russian Federation ( azrakulievzamir@mail.ru )

Journal: International accounting, #1, 2018

Subject This article explores the scope of the integrated reporting concept, which reflects the preservation of the value of production capital stock in the process of creating the value of a commercial organization.
Objectives The purpose of the article is to substantiate the hypothesis of preservation of the value of production capital, expressed in the business accounting model reflecting the processes of value creation and the influence on the stock of capital value. This statement of the problem is consistent with the concept of maintaining physical capital, as expressed in the conceptual framework of financial reporting.
Methods For the study, we used the methods of observation, abstraction, deduction and induction, stochastic and actual analyses of economic phenomena.
Results The study proves the need to distinguish between diametrically opposed accounting categories, such as wear and tear of fixed assets and depreciation of fixed assets. The first category should reflect the loss in the value of production capital stock. The second one should reflect the possibility of recovering financial losses, and the result of these accounting procedures should be reflected through the capital estimates.
Conclusions and Relevance The study concludes on the following: impairment of assets and liabilities is one of the methods of business model accounting, realized through the procedure of formation of fair value of assets and liabilities; the capital estimates reflect the possibility of maintaining the stock of the value of production capital when depreciation is considered as the possibility of financial capital to reimburse the value of losses in production capital. The approach proposed in the article to reflect accounting procedures related to the formation of capital estimates in financial statements not only corresponds to the concept of capital maintenance, but also allows to complete accounting records on reflecting the residual value of fixed assets.


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