Browsing by Author "Vardiashvili, Mariam"

Now showing 1 - 8 of 8
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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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    Grants accounting methods in the public and private sectors
    (Ivane Javakhishvili Tbilisi State University Press, 2018) Vardiashvili, Mariam
    The Article dewaks with the issues of recogniotion, measuremen, and reflection of the grants in the financial statements according tp IPSAS 23 and IAS 20 Recognition of the grants received in the public sector as income or liability, depends upon the terms and conditions and limitations set forth in the agreements The main principles of accounting of the grants in the private sector, is determined by the Capital Method and the Revenues Method The Article remonstrates s the basic differences between IPSAS 23 and IAS 20 and provides the author’s view for their improvement.
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    Impact of IPSAS 43 on lease accounting
    (Ivane Javakhishvili Tbilisi State University Press, 2024) Vardiashvili, Mariam
    Entities of the Public Law carry out the leasing or receipt in lease of property for the purpose of performing functions or generating income. The requirements of IPSAS 13 could not provide comprehensive information on lease-related transactions, as only assets and liabilities generated by financial leases were reflected in a lessee’s financial statement, whereas the share of operating leases is important in such transactions. In order to comply with current lease accounting requirements and IFRS 16, the International Public Sector Accounting Standards Board (IPSASB) has developed IPSAS 43 – Leases, which reforms the concept of Lease Accounting and explains the difference between operating and financial leases for lessees. The new standard does not change the lessors accounting. They continue to report the financial condition of the lease according the IPSAS 13. However, IPSAS 43 provides guidance and clarifications to assist the lessors in assessing the risks and benefits associated with property rights, and includes also specific changes to align with the lessor accounting model, which was reflected in the following articles: Lease Modification, Sublease, Notes. IPSAS 43 has a significant impact on lessee’s reporting. By the standard, the difference between operating and financial lease accounting for the lessee is eliminated, and the right-of-use assets and the lease liability are recognized on all types of leases. IPSAS 43 requires the lessee to recognize virtually all lease contracts in the reporting in order to reflect his right-of-use assets for a specified period and the liability – to make future payments. For the lessee, IPSAS 43 introduces a model of use of the assets that makes difference between the right-of-use assets (controlled by the lessee) and the underlying asset itself (not controlled by the lessee). The lessee, along with the recognition of the asset, must also recognize the liability by the commencement date of the lease term, which will be measured at the present value of the lease payments unpaid at that date. IPSAS 43 makes an exception and exempts the lessee from recognition in the financial statements of a short-term lease or a lease less than 12 months and a low-value lease asset. Lease payments associated with such a lease will be recognized as term expense of the Lessee. The modifications also covered the identification of leases, unification of contracts, preferential leases, etc. The implementation of IPSAS 43 will result in an increase in lease assets and lease liabilities on the lessee’s financial accounts. In addition, depreciation costs for the right-of-use and interest costs for the lease will affect the results of financial activities. Accordingly, various financial indicators will also undergo changes. By introducing new approaches, IPSAS 43 emphasizes the recognition of the right-of-use assets and the lease liabilities. It provides detailed information on lease-related assets and liabilities that helps financial statement users to clearly understand the impact of a lease on an entity's financial position and financial results.
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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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    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.