Home  Journals  International Accounting  5(395) - 2016 March

Using the CONSULTANT PLUS software application for designing accounting policies in practice and teaching corporate performance audit

Vol. 19, Iss. 5, MARCH 2016

Article PDF Version

Received: 9 June 2015

Accepted: 3 July 2015

Available online: 21 April 2016

Subject Heading: INFORMATION SYSTEMS IN ACCOUNTING AND AUDITING

JEL Classification: R10, R29, R41, R48

Pages: 46-62

Importance The article reviews the use of the Accounting Policy Designing Module (Module) in the Consultant Plus Software Application in external and internal audits so to select and formulate reasonable accounting methods, and in examination of the existing accounting policies. We also illustrate how the Module may develop the content and methods of teaching performance audit disciplines.
Objectives The objective is to demonstrate the use of contemporary software and information means for improving theoretical and methodological aspects of corporate performance audits; to reveal possibilities for developing students' thinking abilities from mastering new knowledge to evaluation of alternative solutions through levels of understanding, application, analysis and synthesis using the Module.
Methods The research involves empirical methods of scientific research and displays possibilities of a scenario-based analysis in selecting alternative methods for setting up and keeping financial and tax accounting records using the Module in the educational process.
Results We propose new educational technologies for formulating corporate accounting policies in practical audit and teaching one of such basic disciplines as Performance Audit in the Market Economy. The Module facilitates generating professional competencies and helps students acquire new knowledge in sorting out regulations, mastering professional terminology and its appropriate use. The article overviews aspects of the Module that should be further analyzed and specified.
Relevance The Module is reasonable to use by accountants, internal auditors, auditing firms' personnel for consulting purposes, individual auditors and for educational purposes.

Keywords: accounting policies, performance audit tool, accounting policies designing module, alternative accounting policies, reasonable options

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