Facts Of Economic Life Research Articles

Features of Accounting under Uncertainty and Risk Conditions

Introduction. The purpose of the activity of each commercial organization is to make a profit, and therefore it is especially important, given the limited labor, material and financial resources, to achieve the planned performance indicators presented in both financial and non-financial assessments. Risks arising in conditions of external and internal uncertainty have an impact on the implementation of the financial and economic activity plan. To ensure the continuity of an economic entity's activities, it is necessary to form a flexible accounting system that accumulates information not only about the facts of economic life that have occurred, but also their characteristics from the perspective of risk-oriented management, in order to reduce the impact of uncertainty conditions on the financial results and property status of the organization. Purpose. Identification of accounting system problems in conditions of risk and uncertainty. Methods. The work uses general scientific research methods - comparison and analysis at each of the presented stages of the study based on an information base, including open data sources, scientific publications of Russian and foreign authors. Results. The key results of the study are 1) the differentiation of the definitions of "risk" and "uncertainty"; 2) the comparison of the chronology of the development of risk management and accounting; 3) the establishment of conceptual problems in accounting under conditions of risk and uncertainty. Conclusions. This study confirms and identifies conceptual problems in accounting in conditions of uncertainty and risk, pointing to the need to develop organizational and methodological foundations based on theoretical principles, which in turn will increase the competitiveness of economic entities of different forms of ownership and types of activity.

Развитие финансового и управленческого учета для повышения эффективности отрасли садоводства

Abstract. The purpose of the study is to develop approaches to the construction of accounting and information support for the production management system of planting material for horticulture. Methodology and methods. The methodological basis was a systematic and integrated approach to the study of the problems of accounting in horticultural organizations. Both general theoretical, universal, and specific research methods were used (monographic method; analysis and synthesis; statistical-economic, computational-constructive and accounting modeling method). Results. The article shows that in order to reduce import dependence, horticulture on an innovative basis has been intensively developing in recent years. The drastic changes taking place in the development of the horticulture industry necessitate a revision of the approach to managing this industry. At the same time, the construction of an adequate management system for the sustainable development of fruit and berry production is impossible without relevant accounting and information support for all management functions. The current state and development trends of the horticulture industry in Russia as a whole and in the Voronezh region are considered. The analysis of the dynamics of the laying of gardens and nurseries in the region is presented. It is proved that one of the key factors in the development of horticulture is the production of high-quality domestic planting material. The assessment of state support for the planting and cultivation of seedlings and young gardens was carried out. The conclusion is made about the inconsistency of the existing accounting and management accounting system for the cost of nursery products with the tasks of the management system. The scientific novelty lies in the adaptation of financial accounting methods to the requirements of federal accounting standards, among which accounting models are proposed for reflecting the facts of economic life on accounting accounts in the context of using various methods of evaluating seedlings; the development of methods and systems of managerial accounting of nursery costs in relation to options for the organization and technology of production of seedlings and modern conditions of functioning of agribusiness in horticulture; justification approaches to budgeting the cost of seedlings.

Private and public interests as factors in the effectiveness of public-private partnership

Cooperation carried out within the framework of public-private partnerships is characterized by high risks of dishonest behavior of the parties to the agreement. The circumstances that encourage dishonest behavior of the state and private partners are considered. The stages of implementation of public-private partnership projects have been established, at which the risk of dishonest behavior is the highest. Recommendations aimed at minimizing such risks are proposed. It is concluded that it is necessary to increase the transparency of ongoing procedures, expand the parameters taken into account and controlled when making decisions within the framework of public-private partnerships, the importance of detailed documentation of the facts of economic life and attract public attention to public-private partnerships.

ГАРМОНИЗИРОВАННЫЙ ПОДХОД К ПРИМЕНЕНИЮ БЮДЖЕТНОЙ КЛАССИФИКАЦИИ

The paper considers the issues of applying budget classification as an accounting tool necessary for separate accounting of income and expenses of commercial organizations. The budget classification can also be applied by commercial organizations for the purpose of internal control of the receipt and use of funds earned in the course of activities or subsidies and grants received from the state budget. The issues of external and internal financial control are relevant and are widely discussed by the professional community in terms of finding its effective mechanisms. The purpose of the study is to adapt a harmonized approach to the application of budget classification by economic entities of various groups: commercial organizations of the real sector, organizations of the budgetary sphere, non-profit organizations of the real and public sectors, as an instrument of external and internal control. The methodological basis of the study was the general scientific principles and methods of research: analysis and synthesis, logical linking, systematization. The proposed author's approach to the application of budget classification can be implemented both in the process of improving regulatory regulation and in the process of compiling external and internal reporting by economic entities. The main results obtained by the author allow us to improve the tools of internal control for commercial organizations of the real sector and non-profit organizations of the real and public sector. The classification of operations of the public administration sector is unified, as it reflects the economic content of the facts of economic life, and can be used for management accounting and budgeting by commercial organizations of the real sector, as well as for the control of targeted financing by non-profit organizations of the real and public sector. The harmonized codes of economic classification proposed in the work will make it possible to organize separate cost accounting, including when commercial organizations fulfill a state (defense) order.

Assessment and management of financial risks in multinational companies

In the new attributes of the digital economy and the development of electronic commerce, there has been a significant change in the infrastructure of multinational companies from the position of rapprochement between seller and buyer. Also, in the procedures for the implementation of operations, cost reduction is determined by reducing the stages established and provided by intermediaries. For transactions by multinational corporations, many payment systems of the digital economy are used for the reactive exchange and transfer of currencies to business partners in other countries. And it is obvious that all operations have an indefinite number of risks to the facts of economic life.

The financial component in assessing the value of contractual obligations

The financial component of the organization's activities or the objects of its accounting has always been in the focus of economists' research. Unfortunately, it should be noted that for accounting based on normative economics, the reflection of the financial component of the value of contractual obligations remains without due attention. At the same time, the assessment and reflection in accounting and reporting of the value of contractual obligations expands the scope of accounting, makes its information promising and more significant for financial analysis and improving the effectiveness of the implementation of financial relations. The financial component in assessing the value of obligations in an exchange transaction involves a rather complex, sometimes ambiguous, process. To study it in the concept of accounting for contractual obligations, the main attention should be paid to the recognition of contractual obligations, the assessment of monetary assets and liabilities that ensure the reflection of these objects as accounting objects, as well as the processes of their transformation into facts of economic life.

МЕТОДИЧЕСКИЙ ПОДХОД К КАТЕГОРИАЛЬНОМУ РАЗЛИЧИЮ УЧЁТНОЙ И ОТЧЁТНОЙ ИНФОРМАЦИИ

An accounting information system plays a fundamental role because it both informs and controls the management system so that the latter acts rationally according to the principle of economic efficiency. At the same time, the information flow generated varies according to the needs of the various decision-making centers. The concept of “accounting information”, as a rule, gives an idea of how, internal and external stakeholders, form their understanding of the financial and economic condition and performance of the business, as well as the committed facts of economic life. From the point of view of the modern theory of accounting, this information is of fundamental importance, because it is a prerequisite, on which the decision-making process is based. The article analyzes methodological approaches to the classification of types of non-financial and financial information for the purpose of their presentation in the corporate accounting reports.

Методика организации управленческого контроля как средства обеспечения налоговой безопасности предприятия

In the modern conditions of the development of digitalization, an increase in the volume of the information used and the speed of decision-making, there comes an understanding that the effective control of various business processes can be ensured as promptly and efficiently as possible only through intra-production administration. Management control is designed to provide this function. At the same time, the implementation of control measures in relation to the accomplished facts of economic life is not enough to make effective management decisions. Therefore, it is necessary to carry out both the retrospective and prospective control. This problem determined the aim of this study, which is the development of such methodology for organizing management control, which will ensure the tax security of an economic entity through the application of preliminary and subsequent control procedures. This goal is achieved by clarifying the control environment elements available in the scientific literature and developing a list of relevant procedures for the management control of tax liabilities. The result of this study is the developed methodology for organizing management control, through which an acceptable level of tax security of enterprises is ensured. Within the framework of the study, the author paid special attention to the managerial control procedures, which allow realizing its prospective nature – tax analysis and tax passport completion. Within tax analysis, the author proposes separating the strategic and subsequent analysis. To assess the state of the tax system of an economic entity, a number of coefficients corresponding to the areas of tax analysis were developed and proposed for use in practice. Besides, the author proposed to form a tax passport of an enterprise and determined its structure. The organization of managerial control according to the proposed methodology contributes to the consistency of intra-production tax administration with the requirements of state tax control and ensures the stable tax security of an economic entity and the necessary information component for making management decisions related to tax liabilities.

IMPROVEMENT OF DOCUMENTATION AS AN ELEMENT OF THE METHOD ОF THE ACCOUNTING IN THE CONDITIONS OF DIGITALIZATION OF THE ECONOMY

The article is devoted to topical issues of the development of documentation as an element of the accounting method. It has been established that the development of the information society and the digitalization of accounting lead to the modification of the content and forms of the processes of documenting the facts of economic life. The main changes in the processes of documenting the facts of economic life through the prism of digitization and the digital economy are considered. Changes in the content and form of documentation as an element of the accounting method in the conditions of the development of information technologies are substantiated. The main types and characteristics of electronic document management systems, which used by business entities are systematized. The advantages and disadvantages of the use of electronic document management systems by business entities are determined. It has been proven that thanks to a unified and rationally organized system of documentation of economic transactions, information is formed that ensures the subsequent adoption of relevant and urgent decisions by internal and external users for management needs. The peculiarities of the organization of electronic document circulation in the practical activity of the enterprise were studied, in particular, the proposed proposals for improving internal regulations and streamlining the use of electronic documents in order to increase the efficiency of the organization of accounting. The directions of changes and further improvement of documentation as an element of the accounting method in the conditions of digitalization of the economy are systematized. It was determined that the existence of a number of advantages of the implementation of electronic document management systems contributes to its practical use as a tool for increasing the efficiency of structural divisions and the enterprise as a whole.

Time Value of Money Application for the Asymmetric Distribution of Payments and Facts of Economic Life

This article is devoted to the applied aspects of using the concept of the time value of money for the purpose of determining the present value of cash flows in conditions of asymmetric distribution of payments and facts of economic life over time. Currently, such situation is standard when doing business and should be thoroughly studied. The purpose of the study is to prove that the method of distribution of payments affects the result of discounting, and that this information is essential when making management decisions and should be disclosed to the user of the information. Based on the basic provisions of the theory of the time value of money and analyzing the specifics of the asymmetric distribution of the described events, the authors come to the conclusion that it is necessary to supplement the cost discounting methodology by including in it a description of the basic approaches to distribution. As such approaches, the use of distribution methods that were called First Payment First Sale (FPFS), First Payment Last Sale (FPLS), and Current Payment Current Sale (CPCS) are proposed. Use of these methods in certain calculations is the main novelty of this article. The difference that arises as a result of the use of different approaches to assessment in the conditions of asymmetric distribution is illustrated with the simulated data. Taking into account a specific approach to the distribution of cash flows leads to a better understanding of the basis for discounting indicators, improves the quality of information and the validity of management decisions based on it, and reduces the risks of choosing the wrong financing strategy.

Accounting and analytical aspects of the formation of sales expenses of an economic entity

In the conditions of competition for sales markets, manufacturers of products, goods, works and services are trying to reach as many consumers as possible, bring the product to them as quickly as possible and ensure high efficiency of sales channels, while striving to reduce the cost of promotion and sale. The functions related to the organization of sales are performed by economic entities both independently and with the help of intermediary services — retail chains, regional distributors, wholesale dealers, third-party online stores, marketplaces, etc. Each of the selected sales options requires strict and accurate accounting, and is also subject to competent analysis and control of the facts of economic life associated with it. For the purposes of operational management decision-making, the most important task in this context is to create a unified sales information base with the possibility of in-depth detailing of analytical data on sales-related expenses. The subject of the study is the accounting and analytical aspects of the formation of sales expenses of an economic entity, depending on the choice of a sales option: through the creation of separate divisions, the conclusion of contracts with third-party distributors or retail chains.

Features of primary accounting of costs for the planting, growing and production of gardens, vineyards and nursery products

Primary cost accounting for the establishment, cultivation and production of products of perennial plantations is the evidentiary basis for the perfect facts of economic life and ensuring the reliability of accounting data for these costs. Therefore, the article discusses the organizational and methodological aspects of the execution of primary documents for capital investments for planting, the cost of growing and producing products of fruit and berry crops, vineyards and nurseries.

Provision for inventory impairment in accordance with Federal Accounting Standard (FSBU) 5/2019: Challenges and solutions

Subject. This article discusses the issues related to the formation, increase, restoration of the provision for inventory impairment in the context of Federal Accounting Standard (FSBU) 5/2019 – Inventories application. Objectives. The article aims to identify the most justified options for accounting of the business facts to form, increase and restore the provision amount for the inventory impairment. Methods. For the study, I used the methods of analysis and synthesis, comparison, generalization, and modeling. Results. The article focuses on problematic issues related to the determination of the provision amount and the reflection of entries in the accounts, and reveals the position of the authors on their solution. Conclusions and Relevance. In some cases, Federal Accounting Standard (FSBU) 5/2019 – Inventories does not contain unambiguous instructions regarding the formation of information on provision for the inventory impairment, and therefore there is uncertainty that makes it difficult to account for certain facts of economic life. The recommendations proposed in the article can be useful for practical application by economic entities in determining their position in relation to records in the formation, increase, restoration of the provision amount in connection with the use of Federal Accounting Standard (FSBU) 5/2019 – Inventories.

Methodological effect of events on the identification of business operation items

Subject. This article deals with the issues of interpretation of scientific accounting terms Business Operation Item and Accounting Event, and the development of their theoretical content. Objectives. The article aims to reconsider the term Business Operation Item, clarify the boundaries of its application and justification, taking into account the eventuality of the causes of its occurrence in the activities of the enterprise. Methods. For the study, I used formal and logical methods, analysis and synthesis, induction and deduction, comparison, and analogy. Results. The article presents an interpretation of the concept of Business Operation Item, taking into account the eventuality of the enterprise's life, defines the criterion for attributing events to the facts of economic life, the mechanism of influence of facts and events on accounting statements, their past, present and future state. Conclusions and Relevance. Modern accounting is not focused on prospective assessments of the company's activities, is not related to the concept of economic development and forecasting. In this sense, the definition of the term Business Operation Item taking into account past, present and future events is an urgent issue. The results of the study can be used in the theoretical and practical adaptation of international financial reporting standards to domestic accounting traditions, as well as in order to develop accounting practices in the light of current and future events that affect the financial position, financial results and cash flow of the enterprise.

Management accounting of the organization’s Production costs: russian Experience

The paper discusses the Russian features of management accounting of production costs in medium and small enterprises, which being properly organized and functioning, provide an opportunity to use information the performance improving of the organization. Its multi-variance, enshrined in domestic accounting standards, involves the use of various approaches to the formation of costs, in particular, the normative method, which is the subject of this study. Based on the results of the work, as an optimization measure for material-intensive industries, the authors propose to use material costs as a basis for distributing indirect costs and ones for auxiliary production instead of the major employees’ wages. The methodology is based on a systematic and dialectical approach, observation, systematization, analysis, grouping, classification and generalization of data; as well as on such accounting tools as costing and double entry. The specific experience in management cost accounting using the example of an enterprise producing paving tiles will give an opportunity to develop a practical base of works out in determining the stages of costing and the features of the costs specifications of the main and auxiliary production based on the facts of economic life.

The concept of accounting for contractual obligations in the field of accounting for financial instruments

The modern market economy reasonably imposes new and more complex accounting requirements. More precisely, the requirements for inclusion in the subject of accounting of its new objects, providing a reflection of the market conditions of their changes and the impact on the financial results of organizations. The solution of this problem, in part, can be facilitated by the concept of accounting for contractual obligations, which allows to include in the field of accounting the reflection of contractual law and contractual obligations preceding the occurrence of facts of economic life, as well as those actions of the organization that provide recognition and evaluation of fait accompli facts of economic life. The concept of accounting for contractual obligations considered in the article fits into the content of International Standards on Accounting for Financial Instruments, accounting for revenue under contracts with buyers, and, most importantly, finds its methodological justification in the Conceptual Framework for the presentation of financial statements.

Realism and Power in Mark Twain's

Realism and Power in Mark Twain's

Methodological approaches to the evaluation of internal control during the audit of the "Output of Products" business process productivity

Subject. This article deals with the issues of improving methodological approaches to the evaluation of internal control. Objectives. The article aims to clarify the methodology for evaluating the internal control of costs for the production of livestock products, taking into account the peculiarities of agriculture and the business process Output of Products. Methods. For the study, I used the methods of abstraction, analysis, systematization, and generalization. Results. The article offers a developed methodological toolkit for evaluating the internal control system of an economic entity. It includes regulations for assessing the level of the client's internal control system and determining the efficiency rating. The proposed methodology is based on the point-rating system of internal control evaluation. Conclusions and Relevance. The objectives of internal control are not limited only to checking the functioning of accounting systems and preparing accounting (financial) statements, including compliance with the requirements of regulatory enactments when committing facts of economic life of an economic entity. They are also focused on assessing the achievement of the goals of an economic entity and the effectiveness of its business processes. The results of the study can be used to develop theoretical and practical provisions of the activities of audit organizations and auditors.

Гармонизация учетных подсистем для совершенствования информационного обеспечения управления налоговыми расчетами коммерческой организации

The development of the information society and technologies used by commercial organizations, the increase in the array and speed of the processed information predetermine the choice of the development path for the interaction of accounting subsystems aimed at their integration, and not at autonomy. The study substantiates the necessity of developing an accounting methodology through the harmonization of accounting subsystems, which ensures the unity of the information space and contributes to the improvement of information support for the management of tax calculations of a commercial organization. The author proposes implementing the harmonization of accounting subsystems by reflecting the information about the facts of economic life simultaneously in the subsystems of financial, tax, and management accounting. Moreover, the study identified that both real and conditional facts of the economic life of an economic entity are to be recorded. This approach makes it possible to achieve the completeness of the reflected information, as well as to strengthen the unity of the information space, which is necessary to ensure the value of accounting information for the end user. In the course of the study, the author developed and proposed for use a toolkit for harmonizing the accounting subsystems – a unified chart of accounts that allows recording the facts of economic life using the double entry technique simultaneously in all accounting subsystems. Such an approach helps to optimize the information flows, reduce the discrepancies between the methods of financial and tax accounting, as well as to enhance the completeness and reliability of data reflected in the accounting, which corresponds to the provision of the essential requirement for the accounting information when making high-quality management decisions.

ПУТИ СБЛИЖЕНИЯ БУХГАЛТЕРСКОГО И НАЛОГОВОГО УЧЕТА ПРИБЫЛИ ОРГАНИЗАЦИИ

Commercial organizations are the main forming link of the market economy. Profit serves as the purpose of their activities and an important object of tax and accounting. Accounting and calculation of profit are associated with a lot of problems, since it is the most conditional accounting object, subject to many objective and subjective factors. Its calculation is related to the correlation of the amount of income received and expenses incurred by the organization, however, the methodology for reflecting the facts of economic life in accounting and tax accounting is different and is regulated by different regulatory legal acts that dictate not always the same accounting rules. Of course, not only the methods and principles of accounting and tax accounting affect the amount of income, expenses and profits, but also the real efficiency of the business, the rationality of the financial and economic activities of the organization. However, it is the difference in the methods and rules of management that determines the difference that arises in the amounts of profit according to the data of accounting and tax accounting. This paper examines the impact of the legislative framework on accounting and tax accounting, lists the basic rules for recording income and expenses, identifies the main criteria for the difference in profit formation, and provides examples that clearly demonstrate the change in profit with various accounting methods. The article provides specific proposals for the convergence of profits in the accounting and tax accounting of the organization. The amount of profit received at the end of a particular period taken and subject to tracking in dynamics is the most important indicator of the effectiveness of the enterprise. The profit received by the organization is not only reflected in the forms of financial statements and informs the founders and other interested parties about the summary results and possibilities for further use, but is also recorded in tax returns and affects the tax burden of the organization. That is why the search for optimal ways of convergence of accounting and tax accounting of the organization’s profit plays an important role.