Improving basic terminology regarding valuation in accounting and reporting

Abstract

For any organization, the basis of its accounting and reporting is valuation. At the same time, as our research has shown, today the basic terminology in this area still needs significant improvement. This article is devoted to improving this terminology. The following methods were used in the research: analysis and synthesis, comparison, grouping method, logical approach, systematic approach, method of analogies. As a result of the research, this article critically analyzes the basic terminology used in relation to the category of valuation in various accounting and non-accounting sources, and presents the author’s view of this terminology, meeting the requirements of modern times. The results obtained in this work will be of interest to a wide range of readers who analyze various problems of accounting and reporting, including the valuation of accounting objects and reporting elements. Also, the results reflected in this article can be used in the educational process of higher educational institutions and in the practical work of accounting departments of all modern organizations (including healthcare). In addition, the results of this study can be used in the development and improvement of relevant regulatory documents on accounting and reporting.