ASSESSMENT OF ACCOUNTING POLICY TRENDS IN LATVIA. Inta Brūna, Ruta Šneidere University of Latvia

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1 ASSESSMENT OF ACCOUNTING POLICY TRENDS IN LATVIA Introduction Inta Brūna, Ruta Šneidere University of Latvia When Latvia regained independence in 1991 and the economic system was changed, transition to market economy brought about necessity to alter financial accounting policy in Latvia and adjust it to the new market relations. With reorientation from planned to market economy fundamental changes in accounting policy took place and effectively accounting system of year 1939 was restored and amended making use of practice of European Union (EU) member states. Objective of this study was to analyse and systematise development trends of the restored financial accounting policy in Republic of Latvia (LR) and the present time problems in order to prepare propositions for further amendments of accounting policy in the country. To reach the said objective one has to cope with the following tasks: to examine and assess the process of making regulatory legal acts and standards in the field of financial accounting in Latvia; to classify periods of development of financial accounting; to analyse and assess the system of accountant education (training) and certification; to disclose problems in implementing accounting policy and to generate suggestions for amending the policy. In the paper is used two part structure. The first part describes creation of the reconstructed accounting policy and the respective development stages. Problems linked with development of accounting regulations and standards are disclosed. Development of regulations and standards was assessed in historical context and the respective classification of accounting policy periods was worked out. Implementation of accounting policy is impossible without well-educated and welltrained professional accountants. Therefore in second part was analysed and assessed education and training system of professional accountants in the country. Final part of the paper contains conclusions and proposals (based on the research done) for amending the accounting policy including accountant education and certification 1. Classification of LR accounting policy periods and development stages Before independence was restored Latvia was one of republics within USSR, where accounting policy was determined by the panned economy. The integrated accounting system of these times was unsuitable under conditions of market economy; therefore it was necessary to develop new appropriate accounting policy. 397

2 The new accounting policy should support successful development of economy both in private and public sectors i.e. to provide financial information concerning results of entrepreneurial activity required for enterprise management and at the same time to set up information base necessary for implementing the macroeconomic functions and establishing international business relations. Formation of accounting policy was linked with several key events, which to some extent broke up the policy development in several stages and thus mapped the policy development tendencies. Our research resulted into classification as follows: 1 stage. Making the basis for LR accounting policy ( ). 2 stage. Amending the LR accounting policy ( ). 3 stage. Further development of LR accounting policy and harmonisation with EU requirements (since 2002). To assess the present accounting policy trends it is advisable to examine in more detail the essence of each stage and its impact on the entrepreneurial activity. 1 stage Making the basis for LR accounting policy( ) The accounting system in Latvia in the 90 th of the 20 century was to be started actually from scratch. The primary task of this time period was to determine the groups of economic agents and to establish relevant regulatory institutions, which govern and coordinate the accounting procedure. Under the new system separate accounting regulations were provided for public organizations credit organisations and commercial enterprises. For each group was developed separate set of regulations, however the common conditions had to be formulated in the law On Accounting. As far as from the previous time period in area of public organizations and credit organisations there were some groundwork available, it was modified to comply with the new conditions; however working with commercial enterprises was a novelty. Therefore it was particularly important to get along with this area and in result law On Enterprise Yearly Reports was adopted. First important event in the area of accounting in history of the Latvian state after regaining independence was the LR Supreme Council decision of 7 April 1992 On Preparation Legal Acts for Accounting in Latvian Republic, which signified approval of two most important legal acts in the area of accounting On Accounting ( ) and On Annual Accounts of Enterprise ( ). These laws were developed in cooperation with chartered auditor company Schobel & Marholt and basic principles of EU directives were applied [Millere I., 2005]. These legal acts contained references to legal entities, to which these laws were binding, the primary conditions concerning preparation of financial information, contents of yearly reports, rules for assessing assets and liabilities and other important information. The first edition of On accounting provided that LR government adopts decisions on particularly important accounting issues, determines competence of governmental bodies in the field of methodological management of accounting as well as establishes Board of Accounting Methodology. This Board was established by LR Cabinet of Ministers Regulation No 34 of The primary tasks of the Board were to take charge of drafting 398

3 legal acts and regulations in the field of accounting; weigh up the draft proposals for laws and regulations in context of accounting requirements and practicability, to put forward propositions for accounting staff training; to issue licenses for activity of chartered auditors; to assess accounting software and data processing systems and to issue the respective recommendations concerning applicability in Republic of Latvia. The overall methodological management was provided by Ministry of Finance to which was subordinated also the Board of Accounting Methodology. In retrospect one may observe, that in the roughly four years of Board of Accounting Methodology work (up to ) no major changes were introduced in the field of accounting policy because the very Cabinet of Ministers regulation No 34 set up critical obstacles to it it did not give the Board right to request the draft laws concerning accounting from the governmental bodies in order to assess and approve them. However, in this time period the prerequisites were elaborated stating that explicit and truthful information is to be included in financial reports because it was the period of transition to market economy and fast privatisation process. Thus in the second half of 1995 was prepared and approved LR Cabinet of Ministers Regulation No 339 Rules on Enterprise Accounting Procedure and Organisation, which elucidated requirements laid down in laws On Accounting and On Annual Accounts of Enterprise and included very wide scope of issues however not always provided for clear cut answers to the unresolved problems in accountants work. Significant turning point in accounting policy development in Latvia was the amendments made in the law On Accounting, which provided for essential changes in the accounting procedure and started standardisation of Latvian accounting. The article 15 stated that LR accounting draft standards (harmonised with International Accounting Standards (IAS) and the respective EU directives on accounting issues) shall be worked out by Chartered Auditors Association of Latvia and the latter is entitled the right to put forward propositions concerning implementation. At the same time establishing of a new governmental body Consulting Board of Accounting Standards of Republic of Latvia was provided, and this decision actually terminated activities of Board of Accounting Methodology Concept of Latvian accounting standards (LAS) was integrated in amendments of the law On Annual Accounts of Enterprise of 6 November These amendments defined new chapter of yearly report cash flow statement, and Article 4 laid down that financial statement forms should comply with requirements of the two laws on accounting, LR accounting standards and other regulatory acts. Such a steep change was based on idea to separate legislation from making accounting standards, and in result the accounting policy should have become more flexible in respect to dynamic changes of economy, which is difficult to achieve by means of legal norms [D. Daņēviča, 1998]. One could observe that (in comparison with Board of Accounting Methodology) the influence of Consulting Board of Accounting Standards was considerably narrowed because its task was only to assess and offer recommendations in respect to draft laws concerning accounting and draft Latvian standards made by Chartered Auditor Association [V. Paupa, A. Prauliņš, 2005]. As far as (in the first years after LR independence was regained) the primary attention in economic area was paid to creating tax system in compliance with conditions of 399

4 market economy, to which the accounting rules were subordinated, efforts to start with accounting standardisation can be considered appropriate. The first two draft LAS No 7 Cash Flow Statements and No1 Mapping of the Accounting Policy in Financial Reports were made at the end of 1997, however no procedure was provided for their practical application. Therefore in 1998 representatives of interested organisations (Chartered Auditor Association of Latvia, Ministry of Finance, Accountant Association of Latvia, Exchequer, Bank of Latvia, Commission of Securities Market, Riga Stock Exchange, State Revenue Service of Republic of Latvia) worked out propositions for reorganisation of operation of the LR Consulting Board for Accounting Standards and for approving standards in such a way that Cabinet of Ministers regulation was bypassed [I. Ūdre, 1998]. Implementation of these propositions in 1999 started new stage in management of Latvian accounting methodology. When comparing the activities of Board of Accounting Methodology and Consulting Board for Accounting Standards one can conclude that amendments adopted by Cabinet of Ministers were to cardinally alter the methodological administration of accounting by separating the consulting and standardisation functions. However the expected improvement was not achieved. 2 stage Amending the LR accounting policy ( ) Amendment of 1999 of Article 15, law On accounting stated that Cabinet of Ministers should issue regulation concerning mandatory LR accounting standards while standards preparation, approval and registration should be regulated by the Law of Standardisation. It means that a new body Ministry of Economy (as an institution coordinating issues of Standardisation Law) was introduced in the LR accounting management system. The split responsibility (between Ministries of Finance and Economy) in area of LR accounting standards was criticised in the Progress Report 2000 of European Commission [J. Lasis, I. Kālis, S. Vilcāne, 2002]. An essential innovation was the Latvian Accounting Standardisation Technical Committee established in 14 May 1999, which acted in area of preparing and approving accounting standards for Latvia in compliance with international standards [D. Daņēviča, 2000]. Four standards were approved in the years of Committees activity Preparation of financial reports, Inventories, Cash Flow Statements, Profit or Loss in Report Period, Fundamental Faults and Change of Accounting Policy, however it should be added, that Latvian Standardisation Law does not provides for mandatory application of standards. In publications experts observed that problems of application of these accounting standards were deepened also by insufficient funding. Another distinction of this period of shaping accounting policy was adoption of law On Consolidated Annual Accounts of Enterprises, which specified in more detail the legal norms earlier described in a chapter of law On Annual Accounts of Enterprises. After the new law was adopted the just mentioned chapter was deleted from text of the law. As another novelty can be mentioned the adding Statement of Equity Alterations to annual report. 400

5 In April 13, 2000 legislator issued particularly important legal act Commercial law, which (after certain transition period) regulated activities of all types of enterprises (from now on just 5 types instead of previous 17). Of course many issues included in that law were linked with accounting. For more detailed specification of accounting rules (in comparison with a similar previous document) was issued new Cabinet of Ministers Regulation No 243 Organisation and Procedure of Accounting of 25 July Notable changes in the area of bookkeeping affected also participants of capital and financial market - credit institutions, insurance companies, private pension funds, investment companies etc., because by June first 2001 stared functioning Commission of Finance and Capital Markets defined by the respective law. One of functions of this Commission was to issue rules and prescriptions concerning activities of financial and capital market participants and calculation of indicators of those activities as well as procedure for submission of reports. 3 stage Further development of LR accounting policy and harmonisation with EU requirements (since 2002) The present stage of development of accounting policy was introduced by amendments of 15 February 2002 of law On accounting, which provided for establishing new leading institution in the area of accounting methodology Accounting Council. Objective of the latter was linked with ensuring better quality financial reports and preparation of accounting standards, which would be harmonised with IAS. In comparison with the previous stage the adoption procedure of LAS in principle remained the same, however the scope of the new Accounting Council was notably widened and the standard preparation phases were precisely specified both inside the Council and in Cabinet of Ministers [Паупа В. Праулиньш А. 2005]. Budget funding and support of Ministry of Finance ensured functioning of the Council. As a significant distinction of this stage can be mentioned widened circle of users of standards, which in general was defined by Accounting Council, however Cabinet of Ministers regulation specifies which particular standards are mandatory. Up to the end of 2005 efforts of Accounting Council have resulted in 8 approved accounting standards: LAS No 1 Basic Provisions for preparation of Financial Reports; LAS No 2 Cash Flow Statements; LAS No 3 Events After the Balance Sheet Date; LAS No 4 Change of Accounting Policy, Changes of Accounting Calculations and Errors of Previous Periods; LAS No 5 Long-term contracts; LAS No 6 Revenue; LAS No 7 Fixed Assets; LAS No 8 Accruals, Feasible Liabilities, Feasible Assets. Two standards Lease and Income Taxes are in draft phase. Cabinet of Ministers regulation No 776 Regulation on The Mandatory Applicable Latvian Accounting Standards defined the circle of users who are obliged to observe LAS 401

6 requirements when preparing financial reports and stated that mandatory are only the first 5 of the above standards and in addition LAS No 1 and No 2 have to be applied to reports covering time period after 1 January 2005, and LAS No 3, 4 and 5 to reports covering time period after 1 January Application procedure of other standards remains an open issue. Regulation on financial reports of Latvian enterprises, 2005 Financial statements Entities Limited liability companies Large Banks Small and medium Insurance companies Listed companies Official list Second list Free list Financial Statements of Legal Entities Detailed accounting requirements laid down in law On Annual Accounts of Enterprises and Latvian Accounting Standards Table 1 Consolidated Financial Statements Detailed accounting requirements laid down in law On Consolidated Annual Accounts of Enterprises and Latvian Accounting Standards Same laws and standards with exemptions allowing for simplified financial reporting Accounting regulation issued by Financial and Capital Market Commission (FCMC) Accounting regulation issued by the FCMC IFRS, as required by the law On Stock Market Detailed accounting requirements laid down in law On Annual Accounts of Enterprises and Latvian Accounting Standards IFRS IFRS In this time period notable changes were observed also in area of EU accounting standards development. Requirements to financial reports of various enterprises in context with accounting standards and legal status of the enterprises are given in Table 1 [Latvija. Ziņojumi, 2005 ].IAS are gradually replaced by International Financial Reporting Standards (IFRS) which encompass requirements of IAS and EU Directives. To understand linkage of LAS to IFRS, one have to keep in mind that Latvia is EU Member state since 1 May 2004 and therefore national accounting regulations should be harmonised with EU requirements. Already in 1995 European Commission recognised the document Harmonisation of Accounting: A new strategy vis-à-vis international harmonisation and started to harmonise EU accounting directives with International Accounting Standards. Thus LAS drafted on the basis of IFRS will satisfy both the requirements of international standards and EU directives. However they will differ by structure and contends, because LAS should be adjusted to Latvia s specifics. 402

7 Information in the table shows that in Latvia in accounting area concurrently are taken in account both national and international standards and therefore in certain situations problems may arise for those who prepare yearly reports as well as for those who read them. As to standardisation the accounting policy has to be unified not split in different directions. Summing up the above described Latvian accounting policy development period one should point out that approach practised by LR Cabinet of Ministers and Ministry of Finance in the field of accounting policy was based on improving the methodological administration. This approach is manifested by four methodological administration institutions Cabinet of Ministers has established and the amendment of accounting standardisation process, which was harmonised with EU requirements. 2. Problems of accountant education (training) and certification in Latvia 3. Accounting policy cannot be materialised without well educated and well trained Professional accountants, therefore development of Latvian accounting is closely linked with enhanced accountant education (training) and qualification. We think that our research disclosed several acute yet unresolved problems. Presently one can become accountant by taking at least 5 different types of study programmes: programmes for intermediate professional programmes, first level higher education study programmes, academic and professional bachelor and master degree study programmes and second level higher education study programmes. We believe this is very tangled professional and academic education system for students and difficult to understand for employers Such a rather intricate system triggers a whole number of other secondary problems the most significant of which are: 1) difficult choice for applicants; It is difficult for the to be accountant to decide on academic or professional study programme, because notable differences exist concerning study contents, job opportunities as well as duration of the studies. Academic study programmes are more oriented to wide scope education and scientific research (e.g. various level micro- and macroeconomics, statistics mathematic, foreign languages, IT etc.), while the professional accountant programmes are focused on accounting theory, management accounting, financial analysis, international accounting standards and other courses. The students of professional programmes have to have extensive practise 26 weeks, which is not the case for academic programmes students. The study duration also differs usually the professional study programmes takes more time. 2) dissatisfaction of postgraduates with the broad definition of the obtained degree or qualification; If the employer opts the potential accountant by the entry in diploma - mistakes are quite possible, because the entry in diploma of postgraduates of academic 403

8 programmes reads: bachelor (master) degree of social sciences in economics or in management and only in the addendum to diploma some items indicate the accountant qualification. The situation is similar concerning the second level professional study programmes, because up till now the standard for 5th degree accountant profession is not written, and therefore entry in post graduate diploma reads: 5th level economist qualification. 3) Incompatibility of first and second level higher education professional study programmes. Keeping in mind that accredited first level professional study programmes are offered at 18 different educational institutions, it is quite reasonable to expect that the numerous postgraduates will wish to study further. However the present Latvian professional study system provides for rather restricted possibilities to take the second level professional study programme at another university. In this context Article 25, law Of Higher Education Schools states: the first level professional higher education programme is part of second level professional education provided by the higher education school, thus going to another university in order to take the second level programme is impossible without special transition period. It deserves mentioning that education issues are in the scope of Education and Science Ministry and there are no serious cooperation between the Ministry and institutions interested in issues of accountant education and professionalism. The only type of cooperation is related to requirement laid down in Education Law, namely - for accreditation of professional study programme it is advisable that nongovernmental professional organisations (in this case Latvian Accountant Association) provide their recommendations on the programme contents. The responsible for accounting policy Ministry of Finance also does not take part in resolving accountant education problems. Necessity to comply with requirements of accounting regulations and legal acts impose certain requirements on the set of professional knowledge and skills when performing as an accountant, therefore criteria for professional accountant and official recognition of professionalism are needed. At international level issue of accountant professionalism is resolved long ago Education Committee of International Accountant Federation (IFAK EC) has issued guidelines for the set of professional accountant knowledge and skills and corresponding requirements are incorporated in certification programmes of accountant professional organisations. The essence of accountant certification is continuous enhancement (according to social and economic development tendencies) of professional knowledge and skills based on fundamental knowledge provided by higher education. EU directives do not provide for regularising accountant profession, however each member state approaches the issues of accountant profession taking in consideration 404

9 international experience, i.e. they certify accountants and the certification is carried out by independent professional accountant associations. Certification was started in U.S.A. where according to qualification requirements certificates were issued by National Independent Accountant Association. In Belgium it is National Expert - Accountant Collegiums, in France - Expert - Accountant Association and in Ireland Institute of Chartered Accountants [Блейк Дж.,Амат О.,1997]. In our neighbour countries Lithuania, Estonia and also Poland and Ukraine certification is done by Accountant Associations and by government decries (decisions) the Associations are responsible for certification procedure [Alver J., Golov S., 2005]. LR Accountant Association started certification in year 2000, however in the last years various commercial companies offer to certify accountant competency even to issue international accountant certificates. It is an indication that in Latvia there is no unified system, which establishes basic requirements and criteria for accountant professionalism. It poses serious problem for accountants and company chief executives as well as for society in general. The potential accountants lack information about knowledge and skills necessary when doing accountant job. Company managers have difficulties to ascertain accountant s professionalism and to make decision whether to pay salary to accountant or to buy accounting services from some company. It is an absurdity that accounting services may be provided by any legal person registered in the Enterprise Register without any kind of certified specialisation and professionalism, so there is good reason for asking which accountant certificate issued in Latvia certifies the necessary accountant professional knowledge and skills? Our research shows that international practice is issuing certificate of professional accountant usually for 5 years. This term may be extended by enhancing professional knowledge, attending various courses the scope and contents of which are defined by provisions (issued by professional accountant association) for repeated certification. Provisions for repeated certification written by LR Accountant Association define requirements for certificate extension as follows: 1. Attended free chosen qualification courses and seminaries in field of economics or entrepreneurship. The minimal amount of courses and seminaries (evaluated by specific point system) should be 250 points in 5 years since issuance of the certificate. 2. If the certified accountant has enhanced his knowledge at state accredited higher education institution then for each study year he obtains 50 repeated certification points. 3. Job experience in the last three years before the repeated attestation the person should have been working as accountant, chief accountant or have occupied some other post in field of economy where accounting knowledge is necessary. 4. Attended LR Accountant Association courses mandatory for attestation of professional accountants. Every year Attestation Commission defines the topics of mandatory courses. 405

10 5. Passed qualification test. Every year Attestation Commission determines contents of the test. [LR GA Resertifikācijas nolikums, (Provisions for repeated certification, 2002)] Examination of LR Accountant Association Provisions on repeated certification shows, that these requirements comply with Guidelines for the Set of Professional Accountant Knowledge and Skills issued by Education Committee of International Accountant Federation (IFAK EC) as well as provide for continuous accountant professional enhancement in accord with the tendencies of economic development. Quality of financial reports depends on accountant qualification therefore issues of accountant qualification became particularly acute after Latvia accessed European Union. The problems of accountant qualification were implicitly referred to also in World Bank report on assessment of requirements to preparation of financial reports and to financial audits practice in enterprises. The report stated that financial reports not always meet standard requirements and therefore does not satisfy public interests [The World Bank Report, 2005]. At the Report presentation attended by representatives of various governmental and nongovernmental institutions analysts of Latvian commercial banks openly pointed out the insufficient accountant qualification in the field of preparing financial reports. Findings and discussion 1. Our investigation shows, that development of Latvian accounting policy can be conditionally divided in three stages: shaping of the basis for LR accounting policy, amending the LR accounting policy and further development of LR accounting policy and harmonisation with EU requirements. In parallel with the positive accounting policy development trends there are still unresolved acute problems. The activities of Accounting Methodology Council in the first development stage were not successful no major changes in accounting policy were introduced mainly because contradictions between the defined Council functionality and Cabinet of Ministers regulation. Also unresolved remained the issue of preparing and introducing accounting standards. Solving of the problem was started only in the third stage of policy development. We think that one solution could be that the Accounting Council, which develops and approves Latvian accounting standards, should be given the right to establish the class of agents to whom compliance with the respective standards is mandatory. Thus the Cabinet of Ministers would be released from this function. 2. It is witnessed by our research results in a field of accountant education and certification that in accountant education the study programmes contents is in contradiction with statements in postgraduate diplomas; the latter lacks information about postgraduate s real speciality. Lacking is also state level system providing for unified accountant certification criteria. We believe several solutions could be possible. The Accountant Council should be entitled right to define the circle of standard s users to whom application of the standard is mandatory, thus freeing Cabinet of Ministers from this function. To systematise accountant education 406

11 Ministry of Education and Science should ensure preparation of standard for fifth level accountant profession and make the entry in diploma of postgraduate of academic programme more specific i.e. to bachelor (master) degree of social sciences in economics or in management add a reference to the speciality in accounting, analysis and audit according to the particular study programme. Also it should be ensured that the first level postgraduates were ensured opportunity to proceed with their education taking second level professional study programmes without transition period. Ministry of Finance (responsible for accounting policy in the country) jointly with LR Accountant Association and practicing certified accountants have to prepare (countrywide applicable) unified certification system including confirm criteria for issuing a certificate. In this process of accounting policy materialisation should be engaged experts of Ministry of Education Science and Latvian University Accounting Institute as well as professors of other higher schools, who for years have successfully educated accountants for our economy. In conclusion the authors would like to stress that notwithstanding some problems still waiting resolution the Latvian accounting policy is being enhanced in compliance with requirements laid down in EU directives and provisions of IAS and the general development trends deserve positive assessment. References 1. Par grāmatvedību, LR likums// Latvijas Republikas Augstākās Padomes un Valdības Ziņotājs, Nr. 44/45( ),1992. (changing up ) 2. Par uzņēmumu gada pārskatiem, LR likums// Latvijas Republikas Augstākās Padomes un Valdības Ziņotājs, Nr. 44/45( ), (changing up ) 3. Par Grāmatvedības metodisko padomi, LR MK noteikumi Nr.34 // Latvijas Vēstnesis, Nr.131, Noteikumi par obligāti piemērojamiem Latvijas grāmatvedības standartiem: LR Ministru kabineta noteikumi Nr.776// Latvijas Vēstnesis Nr Finansu un kapitāla tirgus komisijas likums: LR likums // Latvijas Vēstnesis Nr Alver J.,Golov S. Accounting & Audit System Integration into European Union Area., The Papers of International Conference, Vilnius, 2005, p Daņēviča D. Standartu izstrādāšana aktīvi turpinās // Grāmatvedība un Revīzija, Nr.3, 1998., 2.-3.lpp. 8. Daņēviča D. Top Latvijas finansu grāmatvedības standarti. // Bilance, Nr.9, 2000.,11.lpp. 9. Millere I. Implementing the Legislative Requirements in Latvian Accounting // The Papers of International Conference, Vilnius, 2005, p Reports on the OBservance of Standards and Codes (ROSC). Latvia Accounting and Auditing. The World Bank, 2005., 11. Ūdre I. Neliels ieskats standartu tapšanas vēsturē. - Grāmatvedība un Revīzija, 1998., Nr.2, 1.-2.lpp. 12. Блейк Дж.,Амат О. Европейский бухгалтерский учет// ИИД Филингъ, Москва, 1997 г., стр. 407

12 13. Паупа В. Праулиньш А.Организации методического руководства бухгалтерским учетом в Латвии после восстановления независимости //The Papers of International Conference, Vilnius, 2005,, p nolikums,2002 Zusammenfassung EINSCHÄTZUNG DES ENTWICKLUNGSTENDENZEN DER RECHNUNGSWESENSPOLITIK LETTLANDS Inta Brūna, Ruta Šneidere Universität Lettlands Im Beitrag wird die analyse von Entwicklungsetappen der Rechnungswesenspolitik Lettlands geleistet, werden das Bildungssystem und berufliche Fortbildungsöglichkeiten für Buchhalter charakterisiert, Probleme wahrgenommen und Lösungen von Problemen in diesem bereich gegeben. Das Ziel der Untersuchung ist Entwicklungstendenzen und aktuelle Probleme der gegenwärtigen periode der Rechnungswesenspolitik Lettlands zu analysieren und systematisieren, um Vorschläge für die Vervollkomnung der Rechnungswesenspolitik im Staat auszuarbeiten. Als Ergebnis der Untersuchung ist die Klassifikation von Rechnungswesensperioden in 3 Entwiklungsetappen dargestellt. In der ersten Etappe ( ) fand die Grundlagenbildung der Rechnungswesenspolitik mit der Ausarbeitung und Einfürung von das Rechnungswesen regelnden Gesetzen Lettlands und mit der Ausarbeitung von ersten Standards Lettlands statt. In der zweiten Etappe ( ) dauerte die Vervollkommnung der Rechnungswesenspolitik der Republik Lettland fort, in der bedeutende Veränderungen im Bereich Rechnungswesen auch Beiteiligte am Finanz- und Kapitalmarkt Kreditanstalten, Versicherungsesellschaften, private Rentenfonds, Anlagegesellschaften betrafen. In dieser Periode trat der Gesetzgeber mit einem besonders bedeutenden Handelsgesetz von Normativakten hervor, das nach der bestimten Űbergangsperiode völlig die juristische Tätigkeit aller Unternehmer regelte und viele in diesem Gesetz eingeschlossene Fragen betrafen auch die Erfassung von Rechnungswesen. Die dritte Etappe (von 2002) wird durch die weitere Entwicklung der Rechnungswesenspolitik der Republik Lettland und Űbereinstimmung mit den Anforderungen der EU gekennzeichnet. Am Anfang dieser Periode wurde eine neue, die methodische Leitung des Rechnungswesens vorantreibende Institution gebildet der Rechnungswesensrat. Das Ziel seiner Tätigkeit werde in Verbindung mit der Gewährleistung der Qualitätserhöhung von Finanzberichten und mit der Vorbereitung von Rechnungswesensstandards, die mit den Internationalen Rechnungswesensstandards übereinstimmt sind, festgelegt. Zur Zeit wird die Tätigkeit des Rechnungswesensrates mit der Finanzierung vom Staatshaushalt gewährleistet und bis Ende 2005 ist das Tätigkeitsergebnis des Rechnungs- 408

13 wesensrates 8 bestätigte Rechnungswesensstandards und noch zwei Standards sind im Entwurfstadium. Im zweiten Teil des Beitrages werden Ausbildungsprobleme von Buchhaltern analysiert und Mängel im Staat entdeckt. Abschließend werden im Beitrag Schlußfolgerungen gezogen und Vorschläge an das Finanzministerium, Ministerium für Bildung und Wissenschaft, den Rechnungswesensrat und die Buchhalterassoziation der Republik Lettland gerichtet. 409