Lietuvos įmonių ilgalaikio materialiojo turto apskaitos politikos pasirinkimo analizė
ENLack of the evidence on accounting policy practices of non-listed companies and the factors determining such choices verified a need for the research. The research was conducted in two steps. The evidence on PPE accounting policy choices of Lithuanian non-listed companies was collected (step 1) and this data was used to assess the factors determining such accounting practices (step 2). For step 1, the quantitative questionnaire research method has been chosen due to a limited availability of the existing data for this type of research. According to the Department of Statistics of Lithuanian Republic, 118544 business entities were registered in Lithuania at the beginning of 2016. Empirical research was conducted with the 95 percent confidence level, 5 percent margin of error, and 10 percent of sample proportion. The accordingly calculated sample size was 138 respondents. The survey was conducted over the period of March 15 – April 2, 2016. The collected data was used for the step 2 analysis. The binary logistic regression analysis was applied in order to determine which of the analyzed factors were significant for the choices of PPE accounting policy methods. The factors were included in the research after in depth analysis of the former scientific literature in this field in order to ensure the comparability of the results. The survey conducted across 140 of Lithuanian non-listed companies was aimed to gather the evidence on the accounting practices of such companies in the area of accounting for PPE and, based on the results of the survey, to assess the level of their harmonization. Results of the survey identified the dominant choices of accounting policy methods by companies in different PPE areas and the areas where most differences occurred.It revealed that 89.46 % of non-listed companies prefer cost method to measure PPE after the initial recognition rather than revaluation method; 44.5 % set a minimum recognition value from 500 to 1 000 EUR; 88.5 % use the straight-line depreciation method although accelerated depreciation methods are also used; the residual value of 1 EUR was the most popular choice by 68.2 % of companies, and no significant differences in the residual value for different PPE groups exist. The binary logistic regression analysis was employed to determine factors influencing particular accounting policy choices by Lithuanian non-listed companies. The results revealed that all analyzed factors (company’s type; sector; capital structure; company’s size; taxes and transparency) were significant. It was concluded that different characteristics of analyzed companies determined the variety of PPE accounting methods applied by respondents. The profit increasing accounting methods were most often applied by limited liability companies; companies operating in manufacturing and agricultural sectors; micro and small sized companies; companies with high financial leverage; companies with differences in financial and tax accounting; and more transparent companies. On the other hand, the profit decreasing methods were more often applied by joint stock companies; companies operating in services sector; companies with lower financial leverage; medium sized and large companies; companies with similar practices in financial and tax accounting; less transparent companies. The results of this research were compared with former researches in this field. Such comparison revealed that most results of the research on accounting policy choices by Lithuanian non-listed companies and the influencing factors complied with the results of other authors’ research. [From the publication]
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