Karel’skaia S.N.PhD in Economics, Assistant Professor of Department of Statistics, Accounting and Audit, St. Petersburg State University, St. Petersburg, Russian Federation SNKarelskaya@mail.ru
Zuga E.I.PhD in Economics, Assistant Lecturer of Department of Statistics, Accounting and Audit, St. Petersburg State University, St. Petersburg, Russian Federation ekaterinazuga@mail.ru
The article takes a look over the origin of the True and Fair View Doctrine; it analyzes the approaches to interpretation of the “credibility of financial statements” concept. The authors also determine the informational limits of financial-statements credibility, and they describe the variants to overcome them. The theory of Triple-entry bookkeeping by Yuji Ijiri, the organic balance-sheet theories by F. Schmidt, the theory of potential value by J.B. Dumarchey and the theories of off-balance-sheet accounting by N.A. Blatov and N.R. Veitsman constitute the basic framework of these variants.
Keywords: balance sheet, double entry, credibility, theory of layers of economic life facts, reality, informational limits
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