Sochi Journal of Economy

258-267

Authors: Valerii D. Andreev

The article discusses the essence of risk-based audit of financial statements, the most significant risks arising in its preparation. The article discloses the risk factors, methods of falsifying of financial statements, financial indicators as a tool to detect fraud. The article gives the stages, the main tasks and procedures of a risk-based audit of financial statements. The authors conclude that the risks of falsification of financial statements are the common type of economic crime. It requires the development of methods of its auditing and using IAS. The development of an algorithm of risk-based audit, the sequence of audit actions that take into account ways of falsifying financial statements are of great importance. It is necessary to define the main directions of the risk-based audit of the most important forms of financial reportingin determining the appropriate level of its distortions, affecting the financial condition, identifying the circumstances and risk conditions, signs of possible fraud.

276-281

Authors: Kristina A. Lakerbaya, Boris A. Ermakov

This article, on the basis of the official data provided by the State Statistical Office of the Republic of Abkhazia, analyses the tourist flow dynamics in comparison with the Krasnodar region (KR) in general and with the resort city of Sochi in particular within the period of 2009-2017. This time interval is the most notable one for identifying the factors that influence the size and structure of domestic and inbound tourist flows, because it includes the period of preparations for the XXII Olympic Winter Games and XI Paralympic Winter Games of 2014, the Olympic and post-Olympic periods, as well as the time interval after the economic sanctions against Russia were imposed and the beach holiday destinations, popular in Russia, such as Egypt and Turkey, were closed. Based on this analysis the article concludes that sustained tourist flow in the Republic of Abkhazia with the positive dynamics of its development is possible only in case the accommodation pricing policy is adjusted towards a significant reduction, and a high level of service and security in the hospitality areas is ensured.

295-301

Authors: Mikhail M. Morozov

In the conditions of the digital economy, new principles of information support and management of tourism are being formed, which requires improving the information support of the tourist business as a subsystem of the information society. The article considers information and communication technologies used in tourism and based on Internet technologies. The basic directions of application of Internet technologies for promotion of tourist products, enterprises of the tourism industry and tourist destinations are described. A study was made of the specifics of the application of Internet technologies, taking into account the information and communication goals set.

311-315

Authors: Matvei S. Oborin, Tat'yana E. Gvarliani

The resort and recreation complex has now received a dynamic development momentum, however, there are a number of negative trends in its development, which are revealed and reflected in this article. The efficiency of management of sanatorium-resort services in the work is assessed on the basis of the results of the financial and economic activities of SROfor the North-West federal district. The solution of problems is considered taking into account the system approach to management. The authors state that an important aspect of improving the quality of management is the formation of a risk management system that will allow to identificate timely the negative impact factors, to evaluate the effect of using indicators.This will help to budget reasonably, identify the necessary amounts of financial resources that are necessary for enterprises of SRO, create funds and reserves.

322-332

Authors: Nelli A. Savel'eva, Ekaterina N. Krest'yaninova

In the article the authors present a detailed analysis of socio-economic factors in the development of organizational culture of the enterprise. There are given the characteristics of organizational culture as a socio-economic phenomenon. The author's definition of organizational culture of departments of the enterprise in the system of conflict resolution management is given. There are analyzed the existing definitions of organizational culture and evolution studies of this phenomenon, highlighted 4 main stages in its development. In the scientific literature, organizational culture is considered as a factor in the development of the organization, a tool for managing organizational change, a factor of effective personnel management. However, despite the rather wide interest of the authors to the problem of the development of organizational culture, in practice to date, the management of enterprises does not pay due attention to the formation and development of organizational culture. The level of development of organizational culture directly determines the efficiency of enterprises. In turn, the development of organizational culture is influenced by a number of factors: political, religious, social, cultural and economic. The managers of the enterprise and its separate subdivisions are required to produce an in-depth analysis of these factors and respond to changes in the internal and external environment of the organization for effective management of organizational culture. This circumstance determined the relevance of the topic of the study.

341-351

Authors: David Umoru, Sylvester Ohiomu

This study examines the inter-relationship between money supply and investment volatility in Nigeria using a restricted VAR model. With estimated VAR object of class “varest”, a restricted VAR was estimated by choosing scheme“ser”. In which circumstance, we re-estimated each equation distinctly with provision of our t-values in absolute value below the threshold value regulated by the function's argument thresh. The core condition that generated was that our variables are co-integrated. From economic view, joint dynamics of our variables that was embodied in the restricted VAR model makes the operational form a depiction of the underlying, structural plus economic relationships. In consequence, our variables contemporaneously impacted each other and error terms became uncorrelated economic shocks which drive the dynamics of our economic variables and hence implicitly implies zero correlation between stochastic disturbances as a preferred property. Empirically, our study reveals that the disturbance to broad money supply causes volatility in aggregate investment. The outcome of the study indicates unpredictable effects of shocks in money supply. The ‘monetary authorities’ should target broad money supply in executing monetary policy in Nigeria and the Federal government should pay heed to investment drives and interest rate management in order to advance the activities of the real sector in Nigeria.