Browsing by Author "Maisuradze, Marina"

Now showing 1 - 10 of 10
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    Actual issues of accounting balance analysis (on the example of JSC „Telasi”)
    (Ivane Javakhishvili Tbilisi State University Press, 2019) Maisuradze, Marina; Vardiashvili, Mariam
    Thus, the present article deals with the structural and ratios analysis of financial statements (Balance sheets) of JSC Telasi. As a result of the analysis, it is revealed that the company's financial position is unstable, namely, the ratios are below the permissible rate, in 2017 the equity share of assets is below 50%. In our view, in order to improve the situation, it is necessary to reduce the balance of accounts receivable and increase the share of equity.
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    Analysis of the impact of IFRS 15 on the recognition of assets from construction contracts
    (Ivane Javakhishvili Tbilisi State University Press, 2022) Vardiashvili, Mariam; Maisuradze, Marina; Chitadze, Khaliana
    The main issue in accounting for construction contracts is the allocation of the proceeds and expenses incurred from these works to the reporting periods during which the construction was carried out. The assessment of the application of the principles of IFRS 15 to construction contracts is based on a fivestep model for the recognition of surpluses, which fully provides an appropriate framework for the recognition of surpluses arising from construction contracts.
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    Applying methods for estimation of the fair value of the nonfinancial assets
    (Ivane Javakhishvili Tbilisi State University Press, 2023) Maisuradze, Marina; Vardiashvili, Mariam
    The fair value measurement methods have certain positive sides, namely: Objective measurement of the cash flows coming from the use of the assets, the assets-related maximally possible comparable information, and an effective assessment of the results of activity of an entity. However, in line with the positive sides, there are also negative side effects: In the absence of an active market there is a high level of uncertainty, as there is a rare asset except for the standard ones, for which there can be no active market, not even a single transaction. The standard says nothing about measurement of such assets Moreover, the standard does not provide the measurement method for the assets that have been obtained free of charge and as a result of inventory. In our opinion, it seems to be desirable to use the Revenues Method for measuring such assets.
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    Corporate sustainability reporting, goals and challenges
    (Ivane Javakhishvili Tbilisi State University Press, 2024) Maisuradze, Marina; Chavleshvili, Nino
    Corporate sustainability financial reporting focuses on integrating environmental, social, and governance (ESG) factors into financial disclosures. Here’s a summary of its goals and challenges: Goals: Transparency: Improve the clarity and accessibility of sustainability-related information for stakeholders, including investors, customers, and regulators. Accountability: Hold companies accountable for their sustainability commitments and performance, fostering trust among stakeholders. Decision-Making: Provide relevant data to help investors and management make informed decisions regarding sustainability risks and opportunities. Challenges: Data Collection and Quality: Difficulty in gathering accurate and comprehensive data on sustainability metrics, often due to lack of systems or standard definitions. Regulatory Complexity: Navigating a patchwork of evolving regulations and reporting requirements across different jurisdictions. Integration with Financial Reporting: Integrating ESG data with traditional financial metrics in a meaningful way remains complex and often inconsistent. Stakeholder Expectations: Balancing diverse stakeholder demands and expectations regarding sustainability reporting, which can vary widely. Resource Constraints: Limited resources (financial, human, technological) for companies, especially smaller ones, to invest in robust sustainability reporting practices. Overall, while the goals of corporate sustainability financial reporting are geared towards enhancing transparency and accountability, the challenges often stem from data limitations, regulatory landscapes, and the need for integration with traditional financial metrics.
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    Fair value measurement methods
    (Ivane Javakhishvili Tbilisi State University Press, 2018) Maisuradze, Marina
    The fair value measurement methods have certain positive sides, namely: Objective measurement of the cash flows coming from the use of the assets, the assets-related maximally possible comparable information, and an effective assessment of the results of activity of an entity. However, in line with the positive sides, there are also negative side effects: In the absence of an active market there is a high level of uncertainty, as there is a rare asset except for the standard ones, for which there can be no active market, not even a single transaction. The standard says nothing about measurement of such assets Moreover, the standard does not provide the measurement method for the assets that have been obtained free of charge and as a result of inventory. In our opinion, it seems to be desirable to use the Revenues Method for measuring such assets.
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    The importance of financial reporting transparency and ways to improve its analysis in Georgian enterprises (research project for enterprise management)
    (2019) Chiladze, Izolda; Maisuradze, Marina; Vardiashili, Mariam; Kozamnasvili, Lia; Modebadze, Tamar
    The association agreement between Georgia and the European Union obliges Georgia to gradually bring its legislation into line with EU law and international legal instruments. One of the areas that European legislation dictates to Georgia is to increase the transparency of business financial reporting in the country. This will help increase the quality of enterprise management. Following the signing of the Association Agreement with the EU, Georgian enterprises are required to publish financial statements. In Georgia necessary to establish transparency of financial reporting. Financial reporting is a key information source for analyzing the financial and economic performance of companies. This information helps enterprise management to fully control the company's solvency, financial position, risks and profitability, and to make adequate decisions. Thus, the issues of the financial reporting methodology have not lost its actuality. The purpose of the research project is to develop and deliver methodological and practical recommendations for financial reporting analysis to Georgian enterprises as well as to other stakeholders. The subject of the project research is the financial statements published on the financial reporting portal, based on which the recommendations will be developed for the identified gaps. The study was selected ten Georgian enterprises from different sectors, except for the financial sector. The study uses quantitative and qualitative analysis methods. Specifically, mathematical tools, factor elimination method, vertical, horizontal and ratio analysis methods are used. The practical significance of the study is that any practical and methodical recommendations provided by the community process can be applied to any enterprise registered in Georgia (except the financial and public sector). The report recommends that all enterprise management regularly apply the methods of vertical, horizontal and coefficient analysis of financial statements presented in this work; Using a multi-factor model of cash flow numbers, organic capital structure, profitability, operational and financial leverage indicators developed by one of the authors will help enterprise management measure the impact of factors on the deviation of these indicators and make appropriate decisions. The research presented in Georgia is the first attempt to help business owners and managers understand, on the one hand, that the transparency of financial statements, which not only publishes them but also publicly discusses them, is not unnecessary or dangerous. This scientific-research project will be provided to all interested persons as a recommendation. The successful implementation of project recommendations in practice will be one of the strong empirical results of cooperation and partnership between the scientific sector and the practical economic sector. Keywords: financial reporting, transparency, solvency, profitability, leverage, factor-models.
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    On recognition of contract asset and contract liability in the financial statements
    (Ivane Javakhishvili Tbilisi State University Paata Gugushvili Institute of Economics, 2023) Sabauri, Levan; Vardiashvili, Mariam; Maisuradze, Marina
    With the publication of the International Financial Reporting Standard (IFRS) 15 “Revenue from Contracts with Customers”, approaches to recognition and methods of measurement of the revenues have changed fundamentally. The standard considers a contract liability as a reference point for accounting coordinates, for transferring control over an asset (goods or services) and determining the moment of recognition of revenue to the seller. In the fulfillment of the performance obligations in the contract with the customer, assets or liabilities may arise that are directly related to the performance of the terms of the contract by any of the parties to the contract. Depending on the situation in terms of the fulfillment of the obligation by the entity and payment by the customer, the entity must reflect this contract in the statement of financial condition in the form of a contract asset or a contract liability The article discusses the terms of reflection of a contract asset and a contract obligation in the financial statements, and the difference from such traditional objects of accounting as trade requirements and trade obligations. The study of a contract asset or contract obligation is important because it improves general purpose financial statements, providing financial information to the users of financial statements that will be useful for making decisions about the supply of resources to a given entity. The article deals with the opinions and views of various researchers related to this issue.
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    Recognition of liabilities arising from pension programs in accordance with IPSAS 39
    (Ivane Javakhishvili Tbilisi State University Press, 2021) Vardiashvili, Mariam; Maisuradze, Marina
    The article deals with the issues related to the assessment of liabilities arising from employee benefits and recognition thereof in the financial reporting. The methods of assessing the liabilities envisaged under different pension schemes and the distinctions between them are discussed in the context of the defined contribution plan and the defined benefit plan. It is noted that under the defined contribution plan, the obligations of a public entity for each period is determined with the amount to be paid in this period, while the final costs of the defined benefit plan may be influenced by many variables.
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    Some issues of intangible assets fair value measurement
    (Ivane Javakhishvili Tbilisi State University Press, 2019) Maisuradze, Marina
    Intangible assets can be accounted at fair value only when an active market exists. A value of intangible asset on such market reflects its fair value. Three methods are used to measure a fair value of intangible assets: • Market method – Comparison of assets with similar assets purchased and sold during the last market operations; • Revenue Method – Discounted value of future cash flows expected from the asset; • Cost Method – Measurement costs, by which the asset is replaced – the replacement value. The first one is the comparative measurement method. Measurement of the fair value of intangible assets is a too difficult job. In practice, measurement of a fair value of the intangible assets is a responsibility of evaluator who must be experienced in this field, or, a company management should undertake this task. The methods of measurement of the fair value of intangible assets, have their pros and cons. A positive side is an objective measurement of further cash flows from the assets’ value in use and an efficient assessment of the results of activity of an entity. However, the measurement of the fair value may be considered as conditional, since if no active market exists, a level of uncertainty is high.
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    Warranty service accounting issues according to international financial reporting standards
    (Ivane Javakhishvili Tbilisi State University Press, 2023) Maisuradze, Marina; Vardiashvili, Mariam
    Thus, in order to account quality guarantee during the sale of the supplied product, enterprises shall use IAS 37 – “ Provisions, Contingent Liabilities and Contingent Assets”, while in order to eliminate defects arising during use, IFRS 15 “Revenue from Contracts with Customers” shall be used.