Reporting of Loyalty Programs for Customers Stimulation by Banking Institutions
Journal Title: Бізнес Інформ - Year 2015, Vol 2, Issue 0
Abstract
The article is aimed at studying the peculiarities of reporting of customer loyalty programs in banking institutions and substantiating ways for its improvement in the terms of using the international financial reporting standards. On the basis of structuring the factors influencing the methodology of loyalty programs reporting, four main types of programs that are implemented by domestic banks have been allocated, and the order of reflecting them in reporting has been systematized. The influence of the application of each type of the programs on the bank's financial statements has been studied. Also a list of required changes in accounting policies and internal regulations of bank has been proposed in order to improve the efficiency of loyalty programs reporting. A further direction of research can be adjusting the methodology for reporting of diversified loyalty programs in accordance with requirements of international financial reporting standards, Plan of accounts in the banks of Ukraine, Instruction on its implementation and other normative acts of the National Bank of Ukraine.
Authors and Affiliations
Ganna Mysaka, Alina Shmidt
Keywords
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