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| Issues | Sections | Authors | Keywords |
Article
| Issue: | 2026 №3 (95) |
| Section: | Finance, Banking, Insurance and Stock Market |
| UDK: | 657.375 |
| DOI: | https://doi.org/10.33271/ebdut/95.132 |
| Article language: | Ukrainian |
| Pages: | 132-139 |
| Title: | Financial reporting as an information basis for managing the financial activity of a stock exchange as a financial institution |
| Authors: | Usatenko O. V., Dnipro University of Technology, Dereza V. M., Dnipro University of Technology, Rokhlina V. O., Dnipro University of Technology |
| Annotation: | Methods. The methodological basis of the study comprised the Law of Ukraine «On Capital Markets and Organized Commodity Markets», the Law of Ukraine «On Accounting and Financial Reporting in Ukraine», IFRS 15 «Revenue from Contracts with Customers», regulatory documents of the National Securities and Stock Market Commission, as well as official disclosure materials of stock exchanges. The research results were obtained using the methods of analysis and synthesis to generalize the legislative requirements for the reporting of stock exchanges as financial institutions and to identify the reasons for their dual reporting obligation – both under international standards and to the regulator. Methods of systematization were used to organize the functions of financial reporting within the system of managing the financial activity of a financial institution; the method of logical generalization and abstraction – to construct the two-circuit model of information support and the extended information-analytical model for managing the financial activity of a stock exchange; the method of comparative analysis – to compare the aggregated revenue indicator in financial statements with the detailed tariff policy of stock exchanges; the systems approach method – for the comprehensive integration of financial reporting, regulatory, and market information into a single model for managing the financial activity of a stock exchange. Results. The article substantiates the dual status of a stock exchange as a financial institution, which entails the simultaneous fulfilment of requirements for preparing financial statements under international standards and disclosing regulatory and market information in accordance with the requirements of the National Securities and Stock Market Commission. The functions of financial reporting within the system of managing the financial activity of a financial institution are systematized (informational, control, analytical, communicative, regulatory). A methodological limitation of standardized reporting is identified, stemming from the requirements of IFRS 15 regarding aggregated revenue disclosure, which does not allow the structure of a stock exchange's revenue to be traced by segments of organized trading, despite substantial differentiation of revenue sources according to tariff policy. Novelty. An extended information-analytical model for managing the financial activity of a stock exchange is proposed which, unlike existing approaches to analyzing the financial statements of financial institutions, combines standardized IFRS reporting with tariff policy and trading volume statistics to reconstruct the segment structure of a trade organizer's revenue - something not provided by the unified financial reporting taxonomy. Practical value. The research results are of an applied nature, as they contribute to forming a well-grounded approach to managerial decision-making regarding revenue diversification and cost optimization at a stock exchange without changing the format of its official reporting, which is especially relevant amid the consolidation of the market of trade organizers in Ukraine. |
| Keywords: | Financial reporting, IFRS, Financial institution, Stock exchange, Financial activity management, Information support, Financial analysis |
| File of the article: | EV20263_132-139.pdf |
| Literature: |
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Editor-in-Chief
Makurin A. A., Doctor of Economic Sciences, Professor, Department of International Relations and Audit, Dnipro University of Technology
Deputy Editors-in-Chief:
Buleev I. P., Doctor of Economic Sciences, Professor, Chief Researcher, Department of Enterprise Economics, Institute of Industrial Economics of the National Academy of Sciences of Ukraine, Ukraine
Vahonova O. H., Doctor of Economic Sciences, Professor, Head of the Department of Applied Economics, Entrepreneurship and Public Administration, Dnipro University of Technology
Chair of the Editorial Board
Bezuhla L. S., Doctor of Economic Sciences, Professor, Head of the Department of Tourism and Enterprise Economics, Dnipro University of Technology
Members of the Editorial Board:
- Andrii Andriiovych Makurin, Doctor of Economic Sciences, Professor, Professor at the Department of International Relations and Audit, Dnipro University of Technology, Ukraine, This email address is being protected from spambots. You need JavaScript enabled to view it.
https://orcid.org/0000-0001-8093-736X - Oleksandra Hryhorivna Vahonova, Doctor of Economic Sciences, Professor, Head of the Department of Applied Economics, Entrepreneurship and Public Administration, Dnipro University of Technology, Ukraine, This email address is being protected from spambots. You need JavaScript enabled to view it.
https://orcid.org/0000-0001-6553-7771 - Liudmyla Serhiivna Bezuhla, Doctor of Economic Sciences, Professor, Head of the Department of Tourism and Enterprise Economics, Dnipro University of Technology, Ukraine, This email address is being protected from spambots. You need JavaScript enabled to view it.
https://orcid.org/0000-0002-6520-4325 - Maryna Illivna Ivanova, Doctor of Economic Sciences, Professor, Professor at the Department of Management, Dnipro University of Technology, Ukraine, This email address is being protected from spambots. You need JavaScript enabled to view it.
https://orcid.org/0000-0002-1130-0186 - Oksana Vitaliivna Bashtannyk, Doctor of Sciences in Public Administration, Professor, Professor at the Department of History, Political Theory and Law, Dnipro University of Technology, Ukraine, This email address is being protected from spambots. You need JavaScript enabled to view it.
https://orcid.org/0000-0003-4067-3261 - Olena Olehivna Akhmedova, Doctor of Sciences in Public Administration, Associate Professor, Professor at the Department of Tourism and Hotel and Restaurant Business, Kyiv National University of Technologies and Design, Ukraine, This email address is being protected from spambots. You need JavaScript enabled to view it.
https://orcid.org/0000-0003-1573-7710 - Mykola Petrovych Horodyskyi, Candidate of Economic Sciences, Associate Professor, Zhytomyr Polytechnic State University, Ukraine, This email address is being protected from spambots. You need JavaScript enabled to view it.
https://orcid.org/0000-0002-2093-5263 - Eleonora Yuriivna Tereshchenko, Candidate of Economic Sciences, Associate Professor, Associate Professor at the Department of Enterprise Economics and Finance, Kyiv National University of Trade and Economics, Ministry of Education and Science of Ukraine, Ukraine, This email address is being protected from spambots. You need JavaScript enabled to view it.
https://orcid.org/0000-0003-2272-5224 - Valentyna Andriivna Pavlova, Doctor of Economic Sciences, Professor, Professor at the Department of Entrepreneurship, Alfred Nobel University, Dnipro, Ukraine, This email address is being protected from spambots. You need JavaScript enabled to view it.
https://orcid.org/0000-0002-6762-8041 - Ivan Petrovych Buleev, Doctor of Economic Sciences, Professor, Chief Researcher, Department of Enterprise Economics, Institute of Industrial Economics of the National Academy of Sciences of Ukraine, Ukraine, This email address is being protected from spambots. You need JavaScript enabled to view it.
https://orcid.org/0000-0002-7912-3649 - Olha Volodymyrivna Zakharova, Candidate of Economic Sciences, Associate Professor at the Department of International Economic Relations, Vasyl Stefanyk Carpathian National University, Ukraine, This email address is being protected from spambots. You need JavaScript enabled to view it.
https://orcid.org/0000-0002-8718-0205 - Joanna Rosak-Szyrocka, PhD, Assistant Professor at Częstochowa University of Technology, Poland
https://wis.pcz.pl/wykladowcy---sprawozdawczosc/dr-joanna-rosak-szyrocka
https://orcid.org/0000-0002-5548-6787 - Jolanta Miko Nalivaike, Doctor of Social Sciences, specializing in Management, Vice-Dean of the Faculty of Business Management, Associate Professor at the Department of Management, Vilnius Gediminas Technical University (VILNIUS TECH), Lithuania, This email address is being protected from spambots. You need JavaScript enabled to view it.
https://orcid.org/0000-0003-1009-4111 - Marat Kuralbekovich Kamysbayev, Doctor of Economic Sciences, Professor, Department of Management and Mathematical Economics, Kazakh National Research Technical University, Almaty, 050000, Kazakhstan, This email address is being protected from spambots. You need JavaScript enabled to view it.
https://orcid.org/0000-0002-6952-6030 - Jan Skonieczny, PhD in Economics, Assistant Professor at the Department of Organization and Management, Wrocław University of Science and Technology, Poland, This email address is being protected from spambots. You need JavaScript enabled to view it.
https://orcid.org/0000-0002-1027-991X
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