Financial reporting in adapting financial systems

Igor Yaremko, Olena Tyvonchuk

Abstract


In the article the modern problems of the world financial system functioning are considered. The basic causes of global financial instability are defined, in particular the separation of capitalization processes of the company from the real basis of social and economic development; discrepancy between financial (corporate) reporting and conditions of functioning of economic systems. Emphasis is placed on the necessity of the development of regulatory instruments that will prevent uncontrolled growth and spread of fictitious capital and creating updated format of financial reporting proper to the characteristics of post-industrial type companies.

Keywords


financial system; financial services market; financial architecture; formalized information; financial reporting

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DOI: http://dx.doi.org/10.17951/h.2013.47.4.143
Date of publication: 2015-07-23 22:46:01
Date of submission: 2015-07-23 21:00:04


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