Generolo Jono Žemaičio Lietuvos karo akademija

The authors have conducted a retrospective analysis of the historical and logical stages of establishing the financial reporting system in the Russian Federation for determining the development direction of public reporting of economic entities and justifying the need to prepare integrated corporate reporting that meets the information needs of interested parties. The use of a paradigm approach made it possible to justify the regularities of the formative stages of accounting environment, to distinguish the key foundations of complex accounting information, to determine the current needs of business informatization and preparation of integrated corporate reporting.

The analysis of integrated corporate reporting relevance, the usefulness of disclosing financial and non-financial indicators, that are essential in the reporting to assess business performance and create a value chain, is the subject of study. The authors found that the leading indicators of economic activity of interest to external and internal users of the reporting information are related to the investment attractiveness of the company, its sustainable development, efficiency, and profitability. Therefore, to analyze value creation efficiency, it is necessary to expand the range of assessment with the following cost factors: organization, customers, society, natural environment, innovation, risks, and corporate management. should be classified into the following groups related to the company’s performance: income-generating (possibility of growth, competitiveness, cost of capital, risks) and expense-generating (labor costs, transaction losses, cost of capital, risk management). In this paper, the authors suggest a model for an objective assessment of the company’s ability to create added value, given the management segments (economic, environmental, social) and various forms of capital, which allows determining the company’s business advantages, directions for maximizing opportunities and minimizing risks for each capital used and reducing the information gap between financial and non-financial information, as well as improving business transparency.

In order to achieve the main objective – to facilitate the analysis of financial reports and assessment of company’s financial condition and activity, the analysis and modelling of usage of statistical methods becomes one of the tasks. The statistical analysis may also be treated as one of the main assessment modes of the company’s financial condition or activity, which can facilitate the work of analysts significantly. The conducted analysis of scientific literature allows stating that the usage of statistical methods in the assessment of company’s financial activity has not been widely analysed; besides, there are no assessment models, which would allow analysing the company’s finances sufficiently precisely and quickly. Thus the objective of the scientific research presented in this article is to identify and to define clearly the theoretical aspects of modelling of statistical methods within the context of financial analysis. Therefore it is meaningful to prepare a theoretical model of financial analysis with the help of statistical methods, on the basis of which the scientists, managers of the company or other interested persons would be able to conduct the company’s financial analysis sufficiently precisely and easily.