| 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: | - 1. Pro rynky kapitalu ta orhanizovani tovarni rynky. Law of Ukraine No. 3480-IV, February 23, 2006 (as amended by Law No. 738-IX, June 19, 2020). Retrieved from https://zakon.rada.gov.ua/laws/show/3480-15
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