The institutionalization of accounting: the impact of national standards on the development of economies

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Nataliia Semenyshena
Nadiya Khorunzhak
Zenovii-Mykhailo Zadorozhnyi


The purpose of the study is to establish the essence and identification of the components of institutional accounting theory and substantiate the role and impact of these components on the national economy through the example of standardization. The author's general scheme of the institutional paradigm of institutional accounting and the approach to the development of his theory was built in the study based on a theoretical, empirical generalization, taking into account positive foreign experience, national scientific views and traditions. The examples of changes in GDP after the introduction of accounting standards (which are a structural component of institutional accounting theory) in the 6 largest countries of the world are given as an argument for the positive impact of institutional pragmatics on the national economy using the graphical method. It is proved that the dynamics that can be used to identify the impact of accounting standardization on a country's economy may be the dynamics of its GDP. The expediency of taking into account the institutional environment of Ukraine in the issues of formalization of the Institute of Accounting, as well as its political, environmental and social situation is substantiated. The conducted research confirms the influence of national peculiarities on the results of activation of institutional accounting principles and the presence of individual characteristics of values taken as arguments of indicators. It is substantiated that it is important to find effective indicators to illustrate the impact of each institutional component of accounting on the national economy.


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Integration System of Education, Science and Production
Author Biographies

Nataliia Semenyshena, Ternopil National Economic University State Agrarian and Engineering University in Podilya

Ph.D. in Economics, a doctoral student of Ternopil National Economic University (Accounting and Taxation Department);
Associate Professor of Accounting, Taxation, and E-business technologies Department in State Agrarian and Engineering University in Podilya,
Deputy Head of the Department for Research, co-founder of the NGO "Sophus", Kamianets-Podilskyi, Ukraine. Member of the Federation of Accountants, Auditors and Financiers of the AIC of Ukraine.
Was awarded the Badge of Honor from the Ministry of Agrarian Policy and Food of Ukraine.
Founder and Deputy Editor-in-Chief of the ISJ «The Institute of Accounting, control, and analysis in the globalization circumstances», «The Economic discourse»
She teaches disciplines taught: Accounting and Reporting according to International standards; Scientific research methodology, Enterprise reporting, Accounting policy, Accounting in banks, Organization of accounting.
Author of more than 200 scientific works. Scientific interests: financial accounting, institutional accounting theory, IFRS, accountancy policy, Economics.
Co-organizer over 50 international conferences in Ukraine and abroad, and, accordingly, a member of the editorial board of editions of scientific publications.
Scientific interests: financial accounting, institutional accounting theory, IFRS, accountancy policy, Economics.
Orcid :
ResearcherID:          A-8626-2016

Nadiya Khorunzhak, Ternopil National Economic University

Doctor of Science (Economics),

Professor Department of Accounting and Taxation, Ternopil National Economic University. 

She teaches disciplines taught: Accounting and control in the management of public sector entities, Accounting in the public sector, International accounting. Scientific interests: International standards and accounting features in foreign countries, Accounting, control, and analysis: theory and practice. Accounting in the public sector.

Author of more than 135 scientific works. Tel. +380969646249

Zenovii-Mykhailo Zadorozhnyi, Ternopil National Economic University

Position: Professor, Vice-Rector for Research
Academic degree: Doctor of Economics
Academic title: Professor


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