A PRACTICAL-APPLIED MODEL FOR THE ACCOUNTING OF TRANSACTIONS FOR THE IMPORT OF GOODS INVOLVING A COMMISSIONER, WORKING ON BEHALF AND FOR THE ACCOUNT OF A PRINCIPAL

Abstract

The report examines the essence of transactions for the import of goods with the participation of a commission agent working on behalf and for the account of a principal. On this basis, their specific features stand out. A definition for them, suitable for accounting purposes, is formulated, according to which they are characterized as: a complex, logically ordered, sequential business process, duly documented, during the lawful implementation of which a supplier registered for value added tax purposes in a country not included in the European Community transfers indirectly (with the participation of a commission agent) goods or the ownership of them to a customer - an enterprise in the Republic of Bulgaria, liable for tax under the Value Added Tax Act, for a price that can be negotiated and established reliably.As a result of the analysis of the formulated definition, specific features of the studied transactions are revealed, which for the needs of the study are systematized and presented in two groups: general and specific. It is proven that their detailed knowledge is a determining factor for the effective organization and implementation of the reporting process in non-financial companies-commissioners engaged in foreign trade activity.During the more in-depth study of the transactions for the import of goods with the participation of a commission agent working on behalf and at the expense of a client, it is also established that their implementation is a set of many logically ordered and consecutive business operations, united in an economic process. These operations are carried out in a dynamically changing environment and specific conditions are often agreed upon for their implementation: to transfer an initial advance from the principal to the commission agent; to make a payment under the terms of a commercial credit or under specific conditions (barter of assets), etc. All these circumstances make the matter interesting and debatable, but also quite complex for accounting interpretation and reporting. Therefore, in the scientific development, an attempt is made on the basis of research, summarization and systematization of the existing options for accounting reporting of the analyzed transactions and argumentation of adequate accounting solutions for existing unresolved issues related to their implementation, to develop an overall flexible and adaptable to the dynamics of the accounting reporting environment. This model is tested in real conditions and thus it is proven that it is practically applicable, methodologically sound and in accordance with the current legislation in the country. It facilitates accounting work and increases its efficiency. For this reason, it is recommended to apply it in the accounting of non-financial commission agents carrying out foreign trade transactions on the territory of the Republic of Bulgaria.