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Transparentnost u financijskom izvještavanju osnova je funkcionalnog tržišta. Vanjskim korisnicima financijski izvještaji su glavni izvor informacija o financijskom položaju i uspješnosti poslovanja poduzeća. Računovodstvena regulativa je temelj financijskog izvještavanja, no vrlo bitna je njena primjena u praksi. Naime, zakone, pravila i propise poduzeća prilagođavaju konkretnim situacijama koje se pojavljuju u svakodnevnom poslovanju jer su ona postavljena relativno široko zbog velikog opsega različitih poslovnih događaja u praksi. Ta prilagodba rezultira sa situacijom da je poslovni događaj iskazan točno kako je zamišljen od regulatornih tijela. Naime, menadžerima je ostavljena sloboda odlučivanja oko određenih kategorija u izvještajima, pa je velika i mogućnost da oni to iskoriste za svoje potrebe. Kroz rad su spomenuti različiti motivi koje utječu na menadžerske odluke, a glavni motiv je zarada. Često njihove naknade ovise o performansama poduzeća. Tri glavne performanse poduzeća su neto dobit (gubitak), novčani tijek iz poslovnih aktivnosti te sveobuhvatna dobit. Ukoliko one ne sadrže nikakve manipulativne radnje, njihove distribucije bit će u obliku zvona, odnosno normalne distribucije. Na to se oslanja prvi dio istraživanja. Dokazano je kako je najmanje manipulacija prisutno u novčanom tijeku iz poslovnih aktivnosti. Slijedi ga neto dobit (gubitak), koja sadrži više obračunskih kategorija koje se na osnovu kreativnog računovodstva mogu različito iskazivati. Najopsežnija financijska performansa je sveobuhvatna dobit, koja sadrži neto dobit (gubitak) i ostalu sveobuhvatnu dobit. Na temelju distribucija dokazano je kako je ovo kategorija s najviše manipulativnih radnji. Leuzov test manipuliranja dobiti potvrđuje zaključke donesene na temelju vrijednosti na distribucijama, a proveden je i Test kontinuiranosti. Njime je potvrđeno kako je statistički značajno više manipulacija u kategoriji neto dobiti u odnosu na kategoriju novčanog tijeka iz poslovnih aktivnosti. Isto tako, statistički značajno više manipulacija ima u iskazanoj sveobuhvatnoj dobiti u odnosu na novčani tijek iz poslovnih aktivnosti. No, statistički nije potvrđeno kako iskazana sveobuhvatna dobit sadrži više manipulativnih radnji u odnosu na neto dobit, iako se to može vidjeti na distribucijama i kroz Leuzov test manipuliranja dobiti. Transparency in financial reporting is basis for functionality of financial market. Extern users behavior is based on the reports which shown financial status and success of company. Lows, rules and policies of accounting regulations are set to make financial market efficient. But that is only one half of the whole reporting. The other half is to apply them in practice. Accounting regulations are set for the whole groups of companies, after which every company use it and apply on their own situations. It would be impossible to set the rule for every company and their own possible situation and that is why regulations are nonspecific and only general. The final effect is that companies have some freedom regarding their financial reporting, which they use in their best interest. But that is not always first intention of accounting regulations. They are set on purpose to be liberal so managers can decide whatever policy is the best for their company. That is also how is set giant possibility for managers to utilize them for their personal interest. In this research are described motives regarding managers behavior. Bottom line, earning are find to be the most common motive. Managers salary due to their contract mostly depends of their performance based of company success. There are three main indicators of company performance: net profit (loss), cash flow from operating activities and comprehensive income. In case no manipulations are included in this perfomances (earnings), their distributions will be normally shaped. If managers decide to make some manipulations so this performances are different than should be, their distribution will show some discontinuity. This research is based on distributions discontinuity and has been proved that among this three financial performances cash flow from operating activities contains at least manipulations. Distribution of net profit (loss) shows more discontinuity, but comprehensive income is the most favorable financial performance regarding manipulations. This performance is also the largest and contains the other two performances, which makes it most suitable for making some manipulative decisions. Two other tests are used to confirm this results. Leuz's test of earnings manipulations gives the same results. Due to Continuity test there are statistical significant difference between number of manipulations in net profit (loss) than in cash flow from operating activities. Also, there are statistical significant difference between number of manipulations in comprehensive income than in cash flow from operating activities. But hypothesis about number of manipulations in comprehensive income being bigger than in net profit (loss) is not statistical proved. This can only be visible on distributions and confirmed with Leuz's test of earnings manipulations. |
