УЧЕТ ФИНАНСОВЫХ АКТИВОВ В КОММЕРЧЕСКОЙ ДЕЯТЕЛЬНОСТИ КОМПАНИЙ АЗЕРБАЙДЖАНА

Abstract

In the commercial activities of companies in Azerbaijan, operations with financial instruments are becoming increasingly important. The country has a Securities Committee; the Stock Exchange where the securities of commercial organizations are quoted has been created and now operates. To keep records of transactions and prepare financial statements for financial instruments, the corresponding regulatory and legal framework has been developed. At present, all socially significant and large formations, such as SOCAR, AZAL, AZERSUN, and others create such reports, based on International Standards (IFRS). Other commercial organizations apply national accounting standards (NAS). There is a slight conceptual and methodological difference between NAS and IFRS. The paper briefly describes the requirements of IFRS regarding the nature of financial instruments, in general, and financial assets, in particular, and outlines the basic principles and procedure for the recognition and derecognition of the financial asset. The author considers the methods of initial and subsequent evaluation of financial assets depending on the purpose of business models of companies. Using the illustrative examples, the author tested the methodology of synthetic accounting of financial assets measured based on the amortized cost, fair value through other comprehensive income and profit and loss. In general, in the context of improving international instruments for assets measuring and accounting, for the successful commercial activity of Azerbaijan companies, new approaches related to improving control over financial operations and checking their correlation with international standards are required.