Accounting of barter operations of foreign economic activity of enterprises

Abstract

The paper analyzes the norms and laws of exchange of goods in the international trade of Ukraine under barter agreements. Barter operations mean operations during which business entities exchange a certain amount of goods, works, services for an equivalent amount of other goods without the use of monetary payments. Barter transactions usually become popular in countries with unstable economies, where there is a shortage of both domestic and foreign currency. The main reason for using barter agreements in foreign trade is currency problems, such as its scarcity, instability, etc. The difficulties associated with the accounting of such operations in accounting are also considered. In accordance with the requirements, all transactions of exchange of goods in international trade are formalized by appropriate barter contracts. In case of violation of the terms of import of goods, performance of works and provision of services, a fine is applied, which is calculated for each day of delay. The main aspect of barter agreements is reaching an agreement on prices and volumes of supplies of export-import goods, as well as a profitable determination of the equivalent of the exchange of goods. Today market environment, some companies may have a limited amount of cash to operate normally. In such cases, the exchange of goods may be the only way for them to sell their products and obtain other goods necessary for production. An important aspect of a barter agreement is reaching an agreement on prices and volumes of export-import of goods, as well as establishing a favorable equivalence for the exchange of goods. In these market conditions, some businesses may not have enough working capital to operate normally. As a result, barter often becomes their only means of selling their products and acquiring others necessary for their production activities.