Accounting Data Quality under the NACE Classification – Case Slovakia

Proceedings of The 4th International Conference on Modern Research in Engineering, Technology and Science

Year: 2021

DOI: https://www.doi.org/10.33422/4th.icmets.2021.07.01

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Accounting Data Quality under the NACE Classification – Case Slovakia

Ladislav Kabát

ABSTRACT: 

The management of economic entities on corporate level requires both, timely and content-reliable data. These data are largely taken from the final balance sheets of individual businesses. They are defined by the standard structure, the monitored indicators, as well as by content. Notwithstanding their obligatory content, the submitted data are often incomplete, value-unrealistic, or significantly different from analogous indicators of other undertakings with a similar business focus. These facts weaken the usefulness of such data for an in-depth analysis.

Our paper presents some results of the author´s research in the field of statistical data collection and processing, including the data quality checking and data modeling.

The role of the UN System of National Accounts (SNA), the World Trade Organization and the World Custom Organization Harmonized System of Trade Statistics (HS) as well as International Financial Reporting Standards are discussed and clarified.

The main goal of the paper is to present the last results of the author´s study on financial corporate ratios reported by individual companies under the NACE classification in Slovakia over several last years. The studied data are selected from the final balance sheets submitted by more than 900 thousand of small and medium enterprises over last years. The sectorial indicators (ratios) and their practical applications in checking the accounting data quality are presented as the core results of this study.

Our paper presents some results of the author´s research in the field of statistical data collection and processing, including the data quality checking and data modeling.

The role of the UN System of National Accounts (SNA), the World Trade Organization and the World Custom Organization Harmonized System of Trade Statistics (HS) as well as International Financial Reporting Standards are discussed and clarified.

The main goal of the paper is to present the last results of the author´s study on financial corporate ratios reported by individual companies under the NACE classification in Slovakia over several last years. The studied data are selected from the final balance sheets submitted by more than 900 thousand of small and medium enterprises over last years. The sectorial indicators (ratios) and their practical applications in checking the accounting data quality are presented as the core results of this study.

Keywords: Data quality, creative accounting, IFRS, financial ratios, tax evasion, tax avoidance, economic criminality.