Issue #1 (Volume 4 2022-2023)

The purpose of this study is to substantiate the theoretical provisions on the accounting support for sustainability reporting and develop practical recommendations for improving the mechanisms for generating fragments of non-financial reporting based on accounting data. The study is conducted on the example of Ukraine. The paper provides a bibliometric analysis of scientific publications on the reporting in the field of sustainable development. Generalizing the results of the content-context block of the bibliometric analysis allowed identifying seven clusters. In the context of the study, the most relevant is the fourth cluster, which reflects the relationship between sustainability reporting and accounting. To create an effective mechanism for building sustainability reporting, a five-step sequence of actions based on accounting data was proposed, and tables were created to simplify the search for the necessary information to fill out fragments of a sustainability report and assess social and environmental security based on accounting data.

The purpose of the paper is to conduct a bibliometric analysis of scientific literature on the use of blockchain technologies in accounting for the period 2013–2022 based on the use of a number of special methods and tools, including Scopus and WoS, VOSviewer, Publish or Perish, Google Trends, and Google Books Ngram Viewer. Based on the results of the bibliometric analysis of relevant scientific publications, a map of the relationships between the concepts of «blockchain» and «accounting» with other categories was formed, which allowed identifying seven clusters. Based on the results of the analysis of the evolutionary time block of blockchain technology research, it was possible to identify several main periods during which the main accents in this area changed. It has been proven that it was in 2020–2021 that the interest of researchers was directed to considering blockchains as tools for working with financial and accounting information. An analysis of the space-time dimension of bibliometric analysis in Ukraine showed that the publication activity of research on the use of blockchain technologies in accounting has intensified since the second half of 2021. Analysis using Google Books and Google Trends confirmed the absence of analogies in the dynamics of changes in search queries «blockchain» and «accounting». The use of bibliometric analysis tools allowed identifying the most relevant works by the searched terms. Relevance was mostly determined by the significance of the scientific work and the scientific cluster. On the basis of these works, key theses are presented, which will become the basis for further empirical research on the chosen topic.

The paper is devoted to developing customs control in the system of ensuring a country’s financial security. The purpose of the study is to form ways of developing customs control in the system of ensuring a country’s financial security using the methodological tools of gap analysis to identify, assess and eliminate strategic gaps caused by non-fulfillment of planned indicators of customs revenues to the consolidated budget. The study is conducted on the example of Ukraine. In the course of the study, the causes of strategic gaps are identified, and strategic initiatives are formed to develop customs control in the country’s financial security system, which are related to the structure of its mechanism. Implementing the proposed strategic initiatives will contribute to the growth of the country’s economy and its entry into the European Economic Area; development of mutually beneficial forms of cooperation with other countries; elimination of the negative impact of external and internal threats on the financial security system.

The paper analyzes the key European benchmarks in the field of compiling and submitting sustainability reports. The analysis concerns the disclosure of their features in the context of considering the introduction in Ukraine to increase transparency, accountability and investment attractiveness of Ukrainian enterprises. Based on content and comparative analyses, a comparison was made of the key provisions of sustainability reporting issued by various standards-setters (ISSB (International Sustainability Standards Board), EFRAG (European Financial Reporting Advisory Group), SEC (The United States Securities and Exchange Commission), GRI (Global Reporting Initiative), and IIRC (International Integrated Reporting Council)) as a methodological level of the system of such benchmarks. The global impact of the specified benchmarks is complemented by an analysis of the impact of Directive 2014/95/EU (Non-Financial Reporting Directive – NFRD) and the new Directive 2022/2464/EU (Corporate Sustainability Reporting Directive – CSRD) on the introduction of the sustainability reporting. It is proved that in the context of the formation of the Ukrainian accounting system on the way to European integration, the transposition of the requirements of these Directives is the first step towards streamlining the regulatory framework for companies’ sustainability reporting. A two-level sustainability reporting benchmark system is presented, which at the operational level is based on the EU directives on disclosure of non-financial information and sustainability reporting, and at the methodological level – on the European Sustainability Reporting Standards and other generally accepted standards.

Acknowledgment
Inna Makarenko gratefully acknowledges support from the Supreme Council of Ukraine (0122U201796).

The rapid development of information technologies poses challenges to various processes of the financial departments of companies or the state. The aim of the paper is to substantiate the main directions of global research on information technologies for financial control and accounting for a better perception and derivation of the potentially associated requirements, challenges, and risks under the evolutionary magnifier. Applied bibliometric and network analysis, comprising analytical and visualization tools of Scopus and VosViewer, reveals the constantly increasing research interests of scholars in the field of research that has reached its maximum in 2022 and continues to rise, especially in the countries with the frontrunner affiliations (the United States, China, and the United Kingdom). The cluster analysis identified 19 total thematic clusters, eleven at the state and eight at the corporate levels, that determined the focal research points Big Data, Blockchain, and Artificial Intelligence are similar for financial control and accounting at the state and corporate level and underlined the partial similarity in terms of technical specification (cryptocurrency) as well as differences in specific levels (social networking issues at the state level) that are reflected in the recommendations for the elaboration of significant technology interfaces for both levels under investigation.

Corporate financial analysis tools are an important factor in corporate efficiency. Low-quality accessories for corporate financial analysis tools really brutally violate the interests of shareholders and can lead to the collapse of the business. The paper examines the development of models for predicting financial crises and compares the capabilities of existing models that can help alert management to current activity regarding an economic decision to buy shares or make loans. In the example of the NCA RUIBA company, Kida and Sherrod models were considered for predicting the financial failure of a firm. Based on the results of the calculations, it can be noted that NCA RUIBA had a good financial position when calculating the indicators according to Kida’s model, and according to the calculated data of the Sherrod model, the organization relies on external financing through high-risk loans, which is associated with the growth of non-current liabilities, especially long-term and medium-term ones. The results suggest that although corporate financial analysis tools alone are not sufficient to accurately predict financial distress, they can increase the predictive power of financial indicators and macroeconomic factors.

Revenue recognition is a very complex area due to user interest in this metric and can even lead to errors and fraud in its understanding. The difficulties of revenue recognition are well known to practitioners because, even if the principles and standards are stable, economic conditions may require new experiences, adaptive knowledge, and flexibility. Therefore, thinking about how to apply the new IFRS 15 standard is more important than ever as the transition to the new standard takes place. In this context, this study aims to evaluate the way external auditors understand how implementing IFRS 15 will probably affect business performance and profitability, and to identify the main problems and obstacles that could come up during that process. In this sense, a quantitative study was conducted using a survey of auditors working for Big Four companies during 2021–2022. To address these problematic aspects of revenue disclosure under the standard, the study’s findings look into how external auditors perceive the complexity of IFRS 15, the openness of their professional judgment, and the anticipated advantages of engagement activities. In addition, the literature review identified business sectors that demonstrated a significant impact on revenue recognition as a result of the implementation of IFRS 15.