Improving Information Base for Audit of Financial Results from Agricultural Activity

Victor Mazur ()
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Victor Mazur: 'Institute of Agrarian Economics' National Scientific Centre

Oblik i finansi, 2014, issue 1, 115-119

Abstract: Information support for audit is an integral part of the procedure which enables auditors to fully carry out their job. Without the relevant information available on a particular business performance one should not expect to obtain fair audit data. The article proposes the ways of improving the information base within the audit of agricultural activity financial results. Based on the regular principles of costs grouping the structure of main costs elements in agricultural activities accounting system has been built. It has been proposed to use additional subaccounts in accounting of income, expenses and financial results of agricultural activities to enhance accounting credibility and provide the development of more complete information base while carrying out an audit. Methods of economic analysis of agricultural activity financial results as a tool for extending the audit database have been considered. The author assumes that the use of this technique will allow the auditor to determine whether management decisions on the resource allocation and usage influence the return of costs incurred for biological transformations.

Keywords: audit database; financial results of agricultural activity; subaccount of income and expenses accounting; economic analysis of agricultural activity financial results (search for similar items in EconPapers)
JEL-codes: M42 (search for similar items in EconPapers)
Date: 2014
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