Audit and economical analysis

Problematic aspects of financial analysis (comparative analysis of periodic intervals, comparisons between different enterprises, problems of information efficiency)

The number of publications published by domestic and foreign authors on financial analysis is so great that one can conclude on the basis of their study, that one of the most important issues in the focus of the broader stakeholders (managers, owners, and counterparties) was always the efficiency of the business entities and their effectiveness assessment. By analyzing the financial situation and the changes in it, it is predicted that not only the effectiveness and effectiveness of the processes will be fulfilled, but also their future expectations¹⁹.This is more important in the competitive economy.

There are a lot of similar aspects of domestic and foreign practice in evaluating and analyzing the financial situation and business environment of managing subjects.Because the global economy needs to be integrated in the accounting, auditing and analysis systems of all countries. For this reason, international standards of accounting and audit, financial reporting have been developed and implemented. That is, the only "business language" of international economic relations is formally formed. Therefore, the analysis of the financial situation and the change in it in all developing countries, based on the law of the market economy, is essentially one-to-one, though different from the organizational, methodological aspect.

The main differences in the financial position analysis can be seen in the diversity of managerial conditions, accounting and reporting rules and methodologies, as well as on theoretical basis.

Also, there are many different aspects of x- coding. First of all, it is characterized by systemic economic development and management contrast²⁰.

Different aspects of economic management certainly have a significant impact on the current state of information flow. The inclusion of one of the major entities, large, medium and small businesses, is fundamentally different among countries.

In developed countries, the main task of accountants is to address the tasks of ensuring the effective management of ownership and managers, rather than solving the information obligations of the enterprise before the state (through financial, tax, customs, statistical reporting).

The similarities in the financial analysis can be explained by the principle of predominance of the content, which is an important principle of accounting. There is no difference in the number and types of financial reporting forms developed by business entities in Uzbekistan with the financial statements of developed countries.

The main form of the financial reporting that is being compiled and presented is not fundamentally different from that of the "Accounting Balance" (Figure 1) and its foreign practice.

Many authors note that the balance sheet and the structure of its financial statements, which are an important source of the economic condition of economic entities, should be readily understood for the re-structuring of assets and the broad range of stakeholders²¹.

There are some differences in the methodological aspects of the financial situation analysis. But in most cases it is possible to observe their uniformity.

In assessing the financial situation in Uzbekistan and abroad, the following systems are used :

1. Liquidity indicators. In international practice, these indicators are based on the "liquidity ratios"²².

2. Financial sustainability indicators. In international practice these indicators system is "financial leverage²³. "Some sources refer to" leverage ratios ".

3. Profits, profitability indicators. In international practice, these indicators are called "profitability ratios".

4. Business activity indicators. In international practice, these indicators are called "efficiency ratios".

From the above, it is possible to conclude that there is no significant difference in the financial analysis of Uzbekistan and international practice. What is the problem? The problem is, the only system of untaxed and methodical, methodological grounds of a difference will learn what you can say.

Another important aspect is the emphasis on the analysis of market value of the companies' businesses and firms in foreign practice. These indicators include: the ratio of net profit to the number of outstanding shares; the share of dividend payments in the net profit; the ratio of annual dividend payments to shares to their average market value; the market price of the stock and the net profit ratio per share. Based on these indicators, market performance indicators of firms and companies are assessed. In practice, this type of analysis is not included in the scope of financial condition assessment, and key performance indicators are studied individually. Identification of these analytical indicators, the importance and significance of comparative study are determined by the degree of participation and activity of the financial market in the enterprise. In other words, investment activity and attractiveness indicators will be assessed by evaluating market activity indicators.

In assessing the financial situation in foreign practice , all analytical procedures are being implemented, for example , in firms and companies (Coca-Cola, Pepsi Cola , Adidas , etc.) , which are largely based on the fact that the firm is diagnosed with current status of companies and further develops the company, important strategies for improving their financial capabilities.

The financial situation of the enterprises is rarely appealed to the practice of comprehensive study in Uzbekistan. There are no real sources of analytical conclusions based on the data of the enterprises, which are the most important locomotives in the economy of Uzbekistan (based on the example of Mining and Metallurgical Combinats, Uzbekistan Railways, Uzbekistan Airways, automotive enterprises) . Often , analytical calculations are based on supposed sources. This difference can be observed not only on the basis of the real sources of analysis, but also on dynamic changes in the years. And, in the foreign practice, special attention will be paid to the different aspects of the company, its activities and network links.

Another important aspect of foreign operations is that in the different nomenclature of indicators (current assets 'current assets, turnover assets, current liabilities of short-term liabilities, creditors' liabilities, non-current assets of long-term assets, immovable assets, etc.) (long-term and current assets, sources of resources and liabilities, principal operating results, operating income and expense), determination procedure aridagi (gross profit, operating results, economic activity, the result of the payment of the tax benefit, net income, EBIT, EBITDA) differences you can see . Therefore, the data in the calculations of published sources financial statements and sources of the real (thematic examples) should be clearly stated in the form and content of the reports . It is possible to ensure their accuracy and uniformity by way of doing so.

In the field of really important issues are an important way of solving this financial form and content of the international drafting standards it is.

Failure to create computer programs for analytical processing of financial reports and their database is also a bit more complicated by the industry . Despite the launch of the work in this direction xaliga the software license until the delivery of care .

Additional resources are needed to analyze financial reporting. The information received, they were taken to determine the reliability, efficiency, i , a s frustrated and have been faced with a number of problems. These processes are of particular concern to the economic entities in the stock market, to the market of precious stocks, to assess the market and business activity.

One of the most pressing problems in the formulation and submission of financial reports is that this is due to the excessive excess of the costs of education on them. The lack of clear rules and regulations on accountancy and accounting for costs affects analytical analysts' performance.

One of the most acute problems is the lack of a uniform approach to complying with international standards for financial reporting and the diversity of their application in each of the economic entities. At the same time, the fact that they are crucial in the world market is not economically justifiable, and this contributes to the rapid development of the sector.

Creation of financial reports and filing procedures, electronic reporting (financial (accounting), tax q reports, statistics, customs, banks) to form a single portal and b son in umulashgan clients information on the options provided in this nmagan. This, in turn, creates difficulties for comparative analysis. That is, making comparative analysis between enterprises, methodological diversity and different estimates have a significant impact on single analytical conclusions.

Inflation can not be avoided. It does not allow you to switch from qualitative analysis to qualitative changes. The high level of inflation does not allow for a precise assessment of changes in indicators. Therefore, when preparing financial statements, inflation should be based on international norms of hyper inflation. This aspect of the amendment has been clearly and explicitly expressed in international standards for financial reporting.

The following conditions must be met for transformation of financial reporting:

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  there is a need for the company to have a financial report based on TSP;
  
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  the financial statements prepared in accordance with national standards should be consistent with the objective, reliable, consistent, and up-to-date national accounting standards and the National Accounting Standards of the Republic of Uzbekistan;
  
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  the enterprise should have a modern management, management system.
  
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  the company must have a stable financial standing;
  
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  have profound professional training in companies that are aware of IFRS, accounting and financial reporting.