Mukoviz V., Leshhij L. Transakcijni vytraty sub’jekta gospodarjuvannja: oblikovo-analitychne zabezpechennja. Visnyk Kyivs’kogo nacional’nogo torgovel’no-ekonomichnogo universytetu. 2021. № 3. S. 133-146.
JEL Classification M41
Candidateof Sciences (Economics), Associate Professor,
Associate Professor at the Department of Accounting and Taxation
Kyiv National University of Trade and Economics
19, Kioto str., Kyiv, 02156, Ukraine
Candidateof Sciences (Economics),Associate Professor
at the Department of International Economic Relations,
Business and Management of Ukrainian-American Concordia University
8/14, Turhenievska Str., Kyiv,02000, Ukraine
E-mail: Lesya_leshchiy@ ukr.net
TRANSACTION COSTS OF A BUSINESS ENTITY: ACCOUNTING AND ANALYTICAL SUPPORT
Background. Each entity in the course of business has transaction costs (TC) that directly or indirectly affect financial and economic position of an entity. The volume of TC is constantly growing, so we should take them into account in making management decisions, to ensure their monitoring, separate accounting and to record in the books of the entity.
Analysis of recent research and publications has shown that there is a large number of scientific achievements of foreign and domestic scientists, but significant number of issues connected with the importance of reflecting information on transaction costs in accounting and reporting remains unresolved and therefore requires further research.
The aim of the article is to identify the features of the disclosure of transaction costs in accounting of the entity, which are related to the formal principles and standards of its management and the operation of informal institutions that influence management decisions.
Materials and methods. Methods of induction and deduction, analysis and synthesis, associations and analogies, empirical were used in the research. The works and the approaches of domestic and foreign authors were studied, systematized, detailed and specified.
Results. Transaction costs are increasing and are defined by the researchers and experts as the important element that restrains economic growth in the realities of economic development in Ukraine. According to the formal rules, the object of accounting is only those transaction costs that are the result of business operations of the entity, recorded in the primary documents and the implementation of which does not contradict national laws. The evidence from practice shows that the methodology of accounting cost provides information about a significant amount of transaction costs that can be identified and measured by the accounting method elements. However, the costs grouping by financial statement items without taking into account the impact of the transactional component does not provide full disclosure in the financial statements of information summarized in the accounting.
Conclusion. Transaction costs, as a category of neo-institutionalism, should be considered through the tasks set by the relevant social institutions. Formal tools for the formation of information about the objects of accounting under the conditions of today can be the accounting policy of the business entity and the professional accountant’s judgment.
The provision of information systems and Internet technologies leads to the automatic reduction of TC.
Keywords: transaction costs, business entity, non-institutional economic theory, formal and informal accounting institutions, accounting.
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