Doctor of Economics, Professor,Head of Accounting Department of Kyiv National University of Trade and Economics
ACCOUNTING OF FINANCIAL RESULTS
Background. Rational organization of economic services and especially accounting (ACCT) is an important factor in the implementation of effective management. One of the directions of rational organization of accounting is to improve accounting of financial results and display them in financial and tax reporting, that is studied in the presented scientific work.
Analysis of recent research and publications showed that during the harmonization and standardization of accounting in Ukraine, despite the presence of certain scientific achievements, scientific and practical problem of accounting of the company as a whole and its individual components, in particular financial results, remains unresolved.
The aim of the research is to study theoretical justification of existing provisions and the formation on their basis of practical recommendations to improve the organization of accounting of financial results of the company.
Materials and methods. Methods of comparison, observation, grouping, historical, structural analysis, formalization and systematization were used in the study.
Results. Scientific and practical hypotheses about the impact on the organization of accounting of financial results of both external and internal factors allowed us to develop proposals for the consideration of these factors in the development of accounting policies (AP) in the company in financial results accounting. In particular, such proposals should include: the availability of the essential elements of AP considering alternative methods of accounting; influence of the particular elements of AP on the financial results; formation of accounting information to be displayed in the accounts system. Implementation of the submitted proposals will promote the objectivity of the process of formation of financial results using methods defined in the AP.
Conclusion. To ensure compliance with existing approaches to accounting company needs in a Regulation on the accounting policy to provide methodological issues concerning the AP costs, revenues and financial results and display in the main sections of the document separate objects of accounting of costs, revenues and financial results and expected shared facilities. Particular attention should be paid to AP elements, formation of which should be based on the analysis of the impact of alternative AP methods on the profit of the company and take into account an assessment of tax consequences for the company.
Keywords: costs, revenues, financial results, accounting information, accounting policies, accounting.
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