Improvement of the essence of professional judgment in accounting of Ukraine

Derun Ivan ()
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Derun Ivan: Taras Shevchenko National University of Kyiv

Technology audit and production reserves, 2(34) 2017, 2017, vol. 2, issue 4(34), 25-29

Abstract: The article analyzes the approaches to defining the essence of professional judgment on the basis of international and Ukrainian legislation in the field of accounting. Classification of scientific approaches for judgment of an accountant is defined, in particular: situational, targeted and professional. The main aim of the article is to provide practical recommendations on the author's definition of the essence of the professional judgment of an accountant and its implementation in the Law of Ukraine «On Accounting and Financial Reporting in Ukraine» and National Accounting Standards. Using the methods of induction and deduction, analysis and synthesis, the method of consistency, the article proposes, under the professional judgment of an accountant, to understand the formed judgment in the conditions of uncertainty based on the professional knowledge and skills of the accountant, which is proposed in the absence of a legislative and normative document that will describe the accounting methodology of the corresponding accounting object, the availability of methodological alternatives for its management or direct indication of the application of such judgment in the formation of credibility reporting that will be used by stakeholders to make informed decisions.

Keywords: International Financial Reporting Standards; International Standards on Auditing; professional accountant judgment; uncertainty condition (search for similar items in EconPapers)
JEL-codes: M41 (search for similar items in EconPapers)
Date: 2017
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