Improvement of financial statements of the enterprises in order to increase the investment attractiveness of the domestic economy

Abstract

Introduction. Ukraine's integration into European and world economic environment reinforces the interest to the reporting of public companies, which is the basis for the implementation of appropriate economic behavior of the investment market. Reasonable and adequate decision making process is impossible in the case of a false, distorted and irrelevant information about the financial state or activity of the company. As a result, this situation causes economic losses and misleads not only the owners, lenders and investors, but also all the state and society in general. This situation makes the topicality and importance of implementation of specific integrated reports in the enterprises to assess both financial and non-financial indicators. It will also prevent distortion or asymmetry of enterprise financial statements.

Purpose. The aim of the article is to make a generalization of approaches to the expediency of introduction of the integrated financial reporting, to expand the range of scientific approaches to assessing the financial reporting by financial and non-financial indicators, to define the peculiarities of methods of detecting asymmetry of financial reporting methodology and to prepare proposals for adapting the use of this methodology by means of infographics in domestic practice.

Results. Generalisation of approaches and principles as for the implementation of an integrated financial statements has confirmed the need for drawing up such reports, as it allows to take into account financial and non-financial indicators of enterprises. The analysis of risk asymmetries or distortions in the financial statements for the financial system indicators has been carried out.It has allowed to state that some indicators are outside the acceptable standard values. While carring out the analysis certain features of application the mentioned metholology of reporting in Ukrainian enterprises have been determined. In order to adapt this methodology it has been proposed to make a visualization of the results of the risk assessment asymmetry of financial statements on the basis infographic approach.