Main Movements in Accounting Records’ Development of the Republic of Kazakhstan in the Context of Economic Globalization

  • Saltanat K. BAYDYBEKOVA Zhetysu State University named after I. Zhansugurov, Department of Accounting and Auditing, Taldykorgan, Republic of Kazakhstan
  • Zhupargul Sh. ABDYKALIEVA Zhetysu State University named after I.Zhansugurov, Department of Accounting and Auditing, Taldykorgan, Republic of Kazakhstan
  • Aida D. TOLEGENOVA Zhetysu State University named after I.Zhansugurov, Department of Accounting and Auditing, Taldykorgan, Republic of Kazakhstan
  • Aynur R. KEREEVA Zhetysu State University named after I.Zhansugurov, Department of Accounting and Auditing, Taldykorgan, Republic of Kazakhstan
  • Botha D. BAYTARAKOVA Zhetysu State University named after I.Zhansugurov, Department of Accounting and Auditing, Taldykorgan, Republic of Kazakhstan

Abstract

The paper examines the main trends in accounting records’ development of the Republic of Kazakhstan in the context of economic globalization. The article reflects the need of transition to international financial reporting standards, systematization of gathered experience in the context of world economy globalization and theoretical and methodological problems’ development of improving the accounting and auditing systems, identified goals and objectives of the study. The aim of the article is to develop ways to improve the accounting system in the Republic of Kazakhstan in the context of economic globalization and harmonization of accounting records in accordance with International Financial Reporting Standards (IFRS). The article studied the theoretical base of IFRS formation and substantiated the main directions of accounting records’ methodology and organization improvement. There are proposed ways to improve accounting and reporting that meet the modern requirements of IFRS. By means of the proposed procedures’ implementation, there can be carried out a comprehensive and systematic assessment of organization’s efficiency as a whole and the individual departments, identified current priorities of development and predicted their future development in order to develop optimal management decisions.

References

[1] Abdimanapov, A.A. 2013. Prospects of accounting records’ development in the Republic of Kazakhstan. Journal of Accounting and Auditing, 6: 30-35.
[2] Ashmarina, S.I. et al. 2016. Methodical Bases for the Regional Information Potential Estimation. International Journal of Environmental and Science Education, 11(15): 7715-7725.
[3] Babayev, Y.A. 2010. International Financial Reporting Standards. Moscow: KNORUS Publishing house. 352.
[4] Barbier, E.B. 2013. Wealth accounting, ecological capital and ecosystem services. Environmental Development Econonics. 18:133–161.
[5] Barbier, E.B. 2015. The Protective Value of Estuarine and Coastal Ecosystem Services in a Wealth Accounting Framework. Environmental and Resource Economics, 1: 10-22.
[6] Barth, M.E., Konchitchk, Y., and Landsman, W.R. 2013. Cost of capital and earnings transparency. Journal of Accounting and Economics. 55(3): 206–224.
[7] Bitton, E., and Watterson, K. 1998. Introduction in accounting, audit, analysis: study letter. Translation from English: Smirnova I.A. Journal of Finance and Statistics, 4(1): 328-339.
[8] Callen, J.L., Khan, M., and Lu, H. 2013. Accounting quality, stock price delay, and future stock returns. Contemp Acc Res, 30(1): 269–295.
[9] Charles, T. 2008. Accounting: Administrative aspect. Journal of Finance and Statistics, 2(2): 55-65.
[10] Dzhumaseytova, A.K. 2009. Regional Cooperation of the Republic of Kazakhstan in the context of global competitive space. Journal of Eurasian Economic Integration, 4(5): 86.
[11] Elliot, B. 2013. Financial Accounting and reporting. New York: Pearson. 877.
[12] Ericson, P., Flood, L. and Islam, N. 2015. Taxes, wages and working hours. September. 49(2): 503-535.
[13] Frolova, E.V. et al. 2016. Development of Social Infrastructure in the Management Practices of Local Authorities: Trends and Factors. International Journal of Environmental and Science Education, 11(15): 7421-7430.
[14] Getman, V.G. 2011. Financial Accounting. Journal of Finance and Credit, 6: 102-114.
[15] Getman, V.G. 2014. Some aspects of improving accounting and financial reporting. Journal ‘For accounter’, 18(138): 2-7.
[16] Helfert, E. 1996. Technique financial analysis Journal of Audit. London: Unity Publishing house. 663.
[17] Helm, C. 2015. Determinants of competence development in accounting in upper secondary education. Empirical Research in Vocational Education and Training, 1(3): 244-254.
[18] Isakova, S.A. 2011. Modern problems of accounting and auditing. Moscow: Academic Publishinq GmbH & Co.KG Dudweiler landstr. 328.
[19] Kaspina, R.G. 2007. Financial Accounting and Reporting in the context of inflation. Omega-L Publishing house. 274.
[20] Konchitchki, Y., Luo, Y., Mary, L.Z., and Ma, Feng Wu. 2016. Accounting-based downside risk, cost of capital, and the macroeconomy. Review of Accounting Studies, 21(1): 1-36.
[21] Konstantinos, N. 2015. Economic Fluctuations and Fiscal Policy in Europe: A Political Business Cycles Approach Using Panel Data and Clustering (1996–2013). London: Springer. 463.
[22] Lee, C.F., Liang, W., Lin, F., and Yang, Y. 2015. Applications of simultaneous equations in finance research: methods and empirical results. Rev Quant Finan Acc, 5: 133-145.
[23] Matthews, M.R. 1999. Accounting Theory: Study letter. London: YUNITI Publishing house. 363.
[24] Milne, M.J. 2001. Positive accounting theory, political costs and social disclosure analyses: a critical look. Paper presented at 2001 BAA Annual Conference at the University of Nottingham. 245-248.
[25] Mizikovsky, E.L. 2013. International Financial Reporting Standards and Accounting. Moscow: AST. 421.
[26] Muzaparova, L.M. 2013. The Republic of Kazakhstan: pros and cons of economic globalization. Sayasat Publishing house 5: 31-42.
[27] Needles, B., Anderson, H., and Caldwell, D. 2004. Accounting Principles. Journal of Finance and Statistics, 1: 144-156.
[28] Paliy, V.F. 2007. International standards of accounting and financial reporting. Moscow: INFRA-M. 512.
[29] Richardson, V. 2014. Accounting Information Systems. London: McGraw-Hill. 350.
[30] Satubaldin, S.S. 2009. Accounting system of transit economy. Almaty: Mir. 431.
[31] Sheremet, A.D. 2013. Comprehensive analysis of economic activity. Moscow: Nauka. 415.
[32] Sultanova, B.B. 2013. The accounting policies: Practicum, Almaty Nur-Press Publishing. 277.
[33] Utebayeva, G.M. 2012. Accounting system development in the Republic of Kazakhstan. Fundamental and applied research in cooperative economic sector. Scientific-theoretical journal, 1: 64 - 67.
[34] Velte, P., and Freidank, C.-C. 2015. The link between in- and external rotation of the auditor and the quality of financial accounting and external audit. European Journal of Law and Economics, 40(2): 225-246.
[35] Walis, К.L. 1998. Positive accounting Ihcory: a ton year perspective. The Accounting Review Standards, 65(1): 150-151.
[36] Zeff, S.A. 1999. The evolution of the conceptual framework for business enterprises in the United States. Accounting Historians Journal, 26(2): 89-131.
Published
2017-03-02
How to Cite
BAYDYBEKOVA, Saltanat K. et al. Main Movements in Accounting Records’ Development of the Republic of Kazakhstan in the Context of Economic Globalization. Journal of Advanced Research in Law and Economics, [S.l.], v. 7, n. 7, p. 1626-1637, mar. 2017. ISSN 2068-696X. Available at: <https://journals.aserspublishing.eu/jarle/article/view/746>. Date accessed: 27 dec. 2024.
Citation Formats
Issue
Vol 7 No 7 (2016): JARLE Volume 7, Issue 7(21), Winter 2016
Section
Articles

The Copyright Transfer Form to ASERS Publishing (The Publisher)
This form refers to the manuscript, which an author(s) was accepted for publication and was signed by all the authors.
The undersigned Author(s) of the above-mentioned Paper here transfer any and all copyright-rights in and to The Paper to The Publisher. The Author(s) warrants that The Paper is based on their original work and that the undersigned has the power and authority to make and execute this assignment. It is the author's responsibility to obtain written permission to quote material that has been previously published in any form. The Publisher recognizes the retained rights noted below and grants to the above authors and employers for whom the work performed royalty-free permission to reuse their materials below. Authors may reuse all or portions of the above Paper in other works, excepting the publication of the paper in the same form. Authors may reproduce or authorize others to reproduce the above Paper for the Author's personal use or for internal company use, provided that the source and The Publisher copyright notice are mentioned, that the copies are not used in any way that implies The Publisher endorsement of a product or service of an employer, and that the copies are not offered for sale as such. Authors are permitted to grant third party requests for reprinting, republishing or other types of reuse. The Authors may make limited distribution of all or portions of the above Paper prior to publication if they inform The Publisher of the nature and extent of such limited distribution prior there to. Authors retain all proprietary rights in any process, procedure, or article of manufacture described in The Paper. This agreement becomes null and void if and only if the above paper is not accepted and published by The Publisher, or is with drawn by the author(s) before acceptance by the Publisher.