| Abstract [eng] |
KEWORDS: Accounting policy, accounting policy choice, disclosure of accounting policies, capital structure, financial leverage, legitimacy theory, agency theory, signal theory, stakeholder theory. The optimal structure of the capital has a huge impact assuring its goals and financial stability. The company’s appropriate situation of financial condition depends on the accounting policies formation as well. In this paper there was made the investigation of correlation of company’s capital structure and its accounting policy choice and disclosure. Considering the global context of the worldwide financial situation, there were made an assumption that 2008 financial crises had an impact on most of Lithuanians enterprises performances. Object of the research – companys accounting policy. Aim of te researh was to investigate the impact of capital structure on accounting policy of large companys, on accounting policy choice and its disclosure. In order to achieve the aim of the thesis the were made such tasks as follows: analyse the factors that influence the choise of accounting policy, analayse the aspects of accounting policies disclosure, provide the assumptions of capital structure forming, investigate the connection between the choise and disclosure of accounting policy of large Lithuanian companies and its capital structure There were made five hypothesis: H1 – Large Lithuanian companies use accounting policy methods that increase the profit of current period instead of those which decrease the profit of current period. H2 – Large Lithuanian companys with high finanacial leverage is more likely to use accounting policy methods that increases the profit of current period. H3 – Large Lithuanian companys with high financial dislose more information of accounting policy. H4 – Large Lithuanian companys that disclose wider amount of accounting policies information than average, provides the investment rate, profit rate and efficiency rate. The amount of dividends that are paid by large Lithuanian companies refers to company‘s accounting policy and its financial leverage. The thesis consist of three seperate parts. There were analysed the conception of accounting policy, elements of accounting policy and grouping of them in the first part. There were also made the analysis of the impact of capital structure on accounting policy choice and disclosure. The were provided the study of capital structure conception, financial leverage calculation methods and abilities, distinguished accounting policies methods that increase and decrease the profit of current period according to 1st Business Accounting Standart. There is also made the analysis of previous research of various scientists. In the third part of the work there are results of research were it is possible to find the correlation between the capital structure of large Lithuanian companys and its accounting policy and disclosure. The results of research revealed that in both analysed periods large Lithuanian companys is more likel to use accounting policy methods that decreases profit of current period. The hypothesis H1 was approved. While making the analysis of conection between capital structure and its accounting policy the correlation between the amount of companys accounting policy disclosure and its capital structure was found. The connection was very week, but relevant when r=0.314. The hypothesis H3 was approved. |
