Учет валютных операций при изменении условий внешнеторговых контрактов

The article presents the results of a study of modern trends in Russian accounting, control and taxation of foreign trade operations caused by the global financial crisis, including the mutual sanctions policy of Russia and Western countries. The traditional difficulties of accounting, control and taxation arising from the specifics of foreign trade operations are highlighted, as well as the reasons for their aggravation when additional challenges, risks and threats arise in the studied area. Special attention is paid to the problems that have arisen due to the complication of Russia's economic relations with Western countries and the restrictions imposed on the implementation of export-import operations, which adversely affects the volume of foreign trade turnover of all countries, the formation of the revenue side of their budgets, as well as forced changes in legal norms and practices of accounting, control, tax and customs taxation of foreign trade operations.

International trade in goods is one of the most important tools for the development of the world economy. International trade meets the needs of the countries of the world in various goods, the production of which is absent in this country or does not fully satisfy domestic demand. Almost all countries in the world are interested in the development of international trade in goods. On the one hand, countries provide domestic needs through international trade. On the other hand, commodity supplies to international markets contribute to the infl ow of foreign exchange earnings into the country, the establishment of international economic relations and, in general, can ensure the economic growth of the country. The main tool for the development of international trade is the foreign economic activity of organizations from around the world. Organizations engaged in foreign economic activity provide world markets with the necessary goods and services. At the same time, the exchange of goods and services at the international level is impossible without foreign exchange transactions. In international trade, most foreign exchange transactions are carried out through bank transfers through the international SWIFT system. In 2022, the main banks of Russia were disconnected from the SWIFT system as a result of the imposition of sanctions, which became a serious obstacle for Russian organizations engaged in foreign economic activity. The article analyzes the problems of currency transactions in the implementation of foreign economic activity, based on which specific proposals have been developed that will contribute to the development of foreign economic activity of Russian organizations. The problems of foreign exchange transactions caused by the imposition of sanctions against the Russian banking sector can be resolved by switching to the currencies of “friendly” countries when concluding international sales transactions, taking into account the trade balance indicators with the country of the foreign counterparty. If a Russian organization is both an exporter and an importer of goods or services, then it is recommended that foreign exchange transactions be carried out under sanctions by off setting counterclaims.

This article reveals the development of foreign economic activity in Uzbekistan, international relations and the audit process of import operations. It also sets out the legal basis for regulating foreign trade transactions carried out on the basis of international law and the terms of the foreign trade contract of sale. Foreign trade operations have also been studied, which have significant features due to legal regulation, the composition of foreign economic transactions, the procedure for fulfilling obligations under contracts and the system of applied calculations, which imposes additional requirements for accounting, analysis and audit.

Currently, the Russian financial system is undergoing structural shifts caused by economic sanctions, as well as changes in the direction of activity. In these conditions, the problem of ensuring the stability of the country's financial system is actualized. The purpose of the study is to identify the problems of the functioning of Russian financial institutions in modern conditions and to determine the ways to solve them. Materials and methods. The empirical basis of the study is the official documents published by the Central Bank of the Russian Federation, the Moscow Exchange, the Federal State Statistics Service, etc., which reflect the main indicators of the functioning of the Russian financial system in 2020–2022. Results. The paper considers the data for 2020–2022 reflecting the dynamics of changes in the assets of Russian financial institutions during this period, the volume of operations of the Russian insurance market and balanced financial results, the volume of foreign trade and international operations of Russian banks. Statistics of international settlements in Russian and foreign currencies are also given. At the end of 2022, there was a decrease in trading volumes in the stock market, as well as a decrease in the balanced financial result of Russian insurers. In addition, there was a slowdown in foreign trade operations, a decrease in the volume of settlements for foreign trade operations, the payment for which was made through Russian banks, a decrease in the volume of international transactions carried out by Russian banks, and a decrease in the profitability of international transactions. At the same time, by the end of 2022, there was an increase in the use of the ruble and the currencies of friendly countries in international payments. Significant results of cooperation between Russia and China were observed in the banking sector and in payments in national currencies, which was facilitated by the expanding trade between the countries. Introducing sanctions against Russian banks in 2022 led to the development of tools to simplify the organization of parallel imports. The Strategy for the Development of the Financial Market of the Russian Federation until 2030 proposes to expand the work of branches of foreign banks in Russia, which will reduce sanctions costs, lead to the expansion of the presence of the national payment system in foreign countries, a gradual transition to payments in rubles and national currencies of friendly countries, strengthening cooperation between Russian and foreign stock exchanges, etc. These will enable Russian banks to expand their activities, improve their processes and services, and increase their competitiveness in both domestic and international markets. Findings. The article discusses statistical data for 2020–2022 characterizing the state of the financial sector of the Russian economy, provides information on the measures taken by the Government of the Russian Federation and the Bank of Russia to reduce the sanctions risk. In order to develop international activities, Russian financial institutions need to expand their presence in the domestic and foreign markets, continue to develop cooperation with credit institutions of friendly countries, and improve innovative technologies and digital platforms.

The paper considers currency and financial transactions in Rostov oblast in the peroid 2000–2010. The change in the composition of bank sector operators is analyzed. Methods are suggested for analyzing the interrelation between currency and Customs operations and commodity flows that allows one to reveal the role of a separate region within the Russian Federation as a transit territory for exported and imported goods in foreign trade supplies of other regions.

The article substantiates that the most reliable and effective mechanism for timely detection of various violations and manipulations in the accounting system of business entities that carry out foreign trade operations is a well-established system of audit of foreign economic activity. The work is devoted to a comprehensive study of the factors influencing the audit of foreign economic activity and highlighting its principles, rules and restrictions for the development of a comprehensive program of audit of foreign economic transactions and recommendations for improving its individual areas. Based on the results of the study of the peculiarities of foreign economic activity, the article groups the factors that affect the audit of foreign trade transactions. The most important ones are: participation in foreign trade operations of non-residents; duration of foreign trade operations; foreign currency settlements; cost centers; the global COVID-19 pandemic; features of "customs audit"; the need to form a CbC report; tax risk assessment. It is proved that the basis of the methodology and organization of the audit of foreign economic activity is its defining principles. Having studied the main provisions of regulations and the basic principles of auditing, highlighted in the scientific literature, they were adapted to the peculiarities of the audit of foreign economic activity. The principles of foreign economic activity audit are grouped into 8 groups: general, ethical, regulatory, organizational, methodological, professional, economic and technical. The general principles of foreign economic activity audit are decisive for audits of any areas of accounting and financial reporting. Adherence to ethical auditing principles is a determining factor in maintaining the reputation of any audit firm. At each stage of the audit, the auditor must adhere to regulatory principles, namely: the application of standards, self-regulation of the profession, compliance with the law, the contractual basis of the relationship. It is proved that at the planning stage the organizational principles of FEA audit are of special importance. Adherence to the methodological principles of the FEA audit allows the auditor to adapt the tools of the sample survey to the specifics of foreign trade operations. Adherence to professional principles will allow you to achieve the highest standards of professionalism and the best results of the audit. Economic principles determine the financial, material and other constraints in the relationship between the subject of foreign economic activity and the audit firm. In terms of information science, the audit requires appropriate information support and compliance with technical principles. The researched conceptual principles of FEA audit should be constantly taken into account during the development of the plan, comprehensive program, tests of audit of foreign economic operations and recommendations for improving its individual areas.

Trade is a phenomenon that is based on both social and economic arguments and has shaped human life since the first ages. In its most general definition, trade; it is possible to define it as the exchange of goods, services or information with money, another good, service or information. The international positions of the parties in the aforementioned barter transaction necessitate defining the trade as international trade or foreign trade. Although it is wrong to consider foreign trade as a separate phenomenon from trade; the complex nature of the transactions in the foreign trade flow emphasizes the importance of the information that the parties should have and the intelligence quality of the information. This study examines the information they need from the infrastructure preparation process of their organizations to foreign trade regulations and practices, from product, market and customer profile research to market entry strategies, from the document issue, which has a very important place in the foreign trade workflow, to various payment methods, while managing their foreign trade operations. focuses on marketing intelligence resources that can respond to information needs. It is not possible for foreign trade operations not to be adversely affected by the measures taken by countries during the Covid-19 pandemic we are in. For this reason, the importance of desk research and electronic databases, which have an important place in the management of today's foreign trade operations, needs more emphasis than in previous periods. In order to limit the scope of the research, the intelligence sources included in the study are discussed in terms of export practices, which are frequently associated with economic growth in the literature.

The article thoroughly substantiates the relevance of regulatory and legal frameworks governing the accounting and control of export and import operations in Ukraine within the context of European integration and economic globalization. It emphasizes that effective regulation of foreign economic activity is critically important for ensuring the state's economic security, facilitating the development of international trade, and attracting foreign investment into Ukraine's economy. A detailed analysis of the current legislative base regulating the accounting and control of export and import operations was conducted. The provisions of the Tax Code of Ukraine concerning the taxation of foreign economic operations, including issues of tax base determination, tax rate application, and tax reporting, were reviewed. Particular attention was paid to the analysis of the Customs Code of Ukraine, which regulates customs control procedures, goods declaration, and other aspects of customs clearance. The regulatory acts of the National Bank of Ukraine, establishing requirements for currency control, including the procedure for currency operations, limits on foreign currency transfers, and reporting on currency transactions, were also examined. Separately, International Financial Reporting Standards (IFRS) and their significance for harmonizing the national accounting system with international requirements were analyzed. Problems arising in the process of applying IFRS by Ukrainian enterprises were identified, specifically methodological discrepancies between national standards and IFRS, insufficient qualification levels of specialists, and the necessity of adapting software. The impact of changes in customs and currency regulation on the accounting of foreign economic activity was investigated. Concrete examples were provided illustrating how legislative changes affect the reflection of operations in accounting, particularly concerning the accounting of income and expenses, cost of goods sold, and financial results. Prospects for digitization of accounting processes and automation of financial control were considered. The possibilities of using modern information technologies, such as electronic document management, cloud technologies, and intelligent data analysis systems, to enhance the efficiency of accounting and control of foreign economic activity were analyzed. Specific directions for improving regulatory frameworks were proposed to enhance the transparency and effectiveness of state supervision in foreign trade. These include: improving currency control mechanisms, particularly by simplifying procedures and expanding opportunities for online currency operations; harmonizing national legislation with international standards, especially in the field of accounting and financial reporting; stimulating the implementation of digital technologies in the accounting and control of foreign economic activity; strengthening state supervision over compliance with customs and tax legislation, including through the use of modern risk analysis methods and combating tax evasion. The conclusion states that the improvement of regulatory and legal frameworks for accounting and control of export and import operations is a crucial factor in increasing the competitiveness of Ukrainian enterprises of any size and direction in international markets and ensuring the economic security of the state.

У статті розглянуто теоретичні аспекти, принципи та фактори які впливають на рівень валютного регулювання в Україні. Визначено складові елементи валютного регулювання до яких відноситься: міжнародне валютно-фінансове співробітництво, валютна політика, валютний контроль та банківський нагляд, курси валют, відсоткові ставки за валютними операціями, обсяги валютних переказів. Суб’єктами валютного регулювання є: Національний банк України, банківські установи, фінансові, лізингові та страхові компанії, кредитні спілки, фізичні та юридичні особи (підприємства і компанії). Головним Законом України відповідно до якого здійснюється валютне регулювання є Закон України «Про валюту та валютні операції». Найефективнішим інструментом валютного регулювання є надання ліцензій на: переказ коштів, торгівля валютними цінностями, здійснення розрахункових валютних операцій, факторингові операції, інші види фінансових послуг. Визначено, що початок повномасштабного вторгнення Росії в Україну та затяжний воєнний конфлікт негативно вплинули як на курси валют, на обсяги валютних операцій фізичних, юридичних осіб, банківських установ. Обсяги безготівкових розрахунків у іноземній валюті клієнтів вітчизняних банків скоротилися більше ніж на 60 % у 2023 році в порівнянні до 2021 року. Найбільші обсяги транскордонних переказів в Україну здійснювалися з Італії – 23,44 %, Ізраїль – 17,80 %, США – 15,57 %, Німеччина – 6,65 %, Польща – 3,88 % і 32,67 інші країни. Визначено, що війна в Україні негативно вплинула на обсяги кредитів в іноземній валюті як фізичних так і юридичних осіб, проте зросли обсяги депозитів і іноземній валюті. Оскільки валютне регулювання є важливою складовою економічного і міжнародного розвитку держави, забезпечення прозорості валютного ринку доцільно визначити напрями його покращення в сучасних умовах: посилити рівень адміністративної чи кримінальної відповідальності за порушення валютного законодавства, посилення співпраці з Державною службою фінансового моніторингу, оптимізувати систему грошових переказів через міжнародні платіжні системи для резидентів тощо.

As interaction of companies across borders increases, accounting for foreign exchange transactions as well as translation of financial statements has become an important topic. An entity is exposed to foreign exchange gains or losses through investments or balances in a foreign currency or ownership in a foreign operation. In order to assess these risks and the related impact, foreign currency transactions and balances should be accounted accurately. IAS 21 aims to set the framework for inclusion of foreign currency transactions and foreign operations in the financial statements of an entity and translation of financial statements into a presentation currency. Foreign exchange transactions and translations inevitably affect an entity’s net income and/or other comprehensive income. Despite IAS 21 setting the framework for accounting for these effects, management still may use some judgement in practice. When analyzing financial statements, users of information should be aware of the underlying methods used for accounting for exchange rate differences since results of analysis of financial statements is largely dependent on these methods.

Introduction. Foreign trade operations significantly affect the development of each country's economy, in particular the value of gross domestic product, which is one of the main indicators of economic development and welfare of population. Therefore, it is necessary to study and model the impact of exports, imports and net exports on macroeconomic indicators of Ukraine. Purpose. The purpose of the article is to analyze publications that consider export-import operations of Ukraine, study of statistical information in this area, construction and analysis of econometric models of the dynamics of foreign trade operations of Ukraine and their impact on gross domestic product. Method. The article uses regression-correlation analysis as one of the main research methods; time series theory; methods of mathematical modeling. Results. The dynamics of foreign economic operations and gross domestic product of Ukraine are researched and analyzed. It is revealed that the balance of export-import operations has a significant impact on the gross domestic product of Ukraine. An econometric model of the dependence of the nominal gross domestic product on the value of exports of goods and services (coefficient of determination 0.9795) is calculated, using statistical information for 2005-2019 years. It is substantiated that with the increase in exports of goods and services by UAH 1 billion Ukraine's nominal GDP grows by an average of UAH 2.2642 billion. The value of coefficients of import dependence and coverage of import by export in foreign economic operations of Ukraine are analyzed. It is noted that the coefficient of import dependence significantly exceeds the allowable level in the study period, due to certain imbalances in foreign trade relations. The coefficient of coverage of imports by exports only in 2005 was greater than one, and during 2006-2019 it became less than one. In this regard, it is necessary to increase export operations, obtain a positive balance of payments, make effective economic and political decisions to increase exports of Ukrainian goods and services, reduce import dependence, using and implementing innovative methods of production and management.

The purpose of the study is to identify the features of the formation and development of sanitary and hygienic control at the largest and local fairs of such vast region of the Russian Empire as the Volga region during the XIX century. Particular attention is paid to legislative acts in the field of fair trade and compliance with sanitary measures in the implementation of both retail and wholesale (including foreign) trade. The author analyzes normative legal acts, decisions of regional (provincial and city) authorities on the definition of sanitary rules of trade, as well as control over trade operations during fairs. 
 A significant layer of pre-revolutionary research has been studied, including monographs, narrative sources, statistical collections, journalistic materials, etc. The paper notes the basic principles of the management of fair trade in the Volga region, the preventive and prohibitive measures of the fair guidelines for the prevention and spread of infectious and other diseases, epizootics and epiphytotics. The analysis of preventive measures in crowded places, providing visitors with drinking water, food, etc. is presented. Sanitary and hygienic rules are noted in the implementation of foreign trade operations at the Volga Region fairs, taking into account the specifics of goods, their origin, etc.

The article analyzes the theoretical foundations, features, methodology for accounting for foreign exchange transactions during export operations in business entities engaged in export activities. There are also suggestions and recommendations for improving the accounting of foreign exchange transactions in export operations.

The article examines the definition of such concepts as «currency», «currency transaction», «currency values» and «currency regulation» in the legislation of Ukraine and scientific works of domestic scientists. The introduced currency restrictions and prohibitions were analyzed in accordance with the Resolution of the NBU Board «On the operation of the banking system during the introduction of martial law» No. 18 of February 24, 2022. In addition, a number of resolutions of the NBU Board in 2023–2024 regarding softening and optimization of a number of currency restrictions in order to prevent an unproductive outflow of capital to protect Ukraine’s international reserves and preserve the stability of the currency market were also studied. Thus, the introduction of the regime of managed flexibility of the exchange rate by the NBU was considered, in accordance with the Strategy for easing currency restrictions. The emphasis is placed on the fact that the main criterion for determining the priority of easing currency restrictions is the urgency of correcting distortions in the market and supporting economic recovery, taking into account the relevant risks for exchange rate stability and international reserves in accordance with the Roadmap developed by the NBU. The author drew attention to the limitation of cross-border transfers by Ukrainian ТЕОРЕТИКО-ПРИКЛАДНІ ТА ГАЛУЗЕВІ АСПЕКТИ 480 • АЛЬМАНАХ ПРАВА • 2024 • Випуск 15 • companies aimed at the execution of court decisions regarding foreign companies, settlement agreements concluded in the course of court proceedings and agreements concluded as a result of the court’s review of cases on recognition and granting of permission to execute the judgment of a foreign court. The author draws the attention of businesses to the observance of the deadlines for settlement of operations on export and import of goods, which amount to 180 calendar days and apply to operations carried out from April 5, 2022. Based on the analysis of court practice, it is proposed to make appropriate changes to Clause 14 of the above-mentioned Resolution of the Board of the National Bank of Ukraine No. 18 regarding the addition of clauses 46 and 47 to the list of exceptions to restrictions: «46) all transactions related to the implementation of the Convention on the Recognition and Enforcement of Foreign Court Decisions in Civil or Commercial Matters from July 2, 2019; 47) transactions related to the implementation by resident legal entities of private form of ownership of decisions of foreign courts and settlement agreements concluded by the parties in the process and/or as a result of consideration of the case by the court, including cases regarding the recognition and granting of permission for the implementation of decisions of foreign courts in Ukraine». Key words: currency, currency values, currency operations, currency regulation, currency restrictions, bank, National Bank of Ukraine, banking legislation.

The paper attempted to find out the economic effects of setting up a tax on currency transactions. Professor James Tobin was the first to propose the particular taxation to reduce the exchange volatility. Many authors interested by the Tobin tax topic, raised many statements against implementing such tax, they argued that it should tend to raise the fluctuations of exchanges rates, and in return, finish by harming the international trade. In the empirical investigation of the paper, we carried out an econometric modeling focused on data about exchange rate volatility, international trade. To explore the effects of the Tobin tax on exchange volatility and international trade, we calculated the currency transactions costs according to a new methodology, covering the period 1990 – 2011, and finding out the effects of the taxation on the exchange market of these countries: United Kingdom, Japan and Germany. The empirical investigation underlines two major findings, which allow us to reinforce establishing the tax on currency transactions, proposed by Professor James Tobin. The model puts emphasis on the decreasing effect of the Tobin tax on exchange volatility, it enabled us to infer that the currency taxation is contributing to improve the exchange rates stability. According to the estimation findings, the currency tax has positive impact on foreign trade, this evidence authorized us to denote that the Tobin tax tends to promote international trade transactions.