Monetary Expression Research Articles

Переход от инвентаризационной стоимости объектов недвижимости к кадастровой при налогообложении недвижимости физических лиц: процесс и его последствия

Purpose: to consider the process of changing the calculation of taxation in Russia in recent years, its procedure and the consequences of changing the calculation of real estate tax. To show the need to change the introduced progressive scale of property tax for owners of residential facilities. To assess the possibility of changing the methods of calculating the base for taxation of individuals. Methods: analysis of the chronology of the establishment of taxes in the Russian Federation and the transition of recalculation of land tax in time. Comparison of tax calculation by inventory and cadastral values, property taxes in the Russian Federation. Results: the main reasons preventing the formation of an objective base for property taxation are identified: the insufficiency and unreliability of the information used, including at the initial stage of applying mass valuation of property as initial data and the imperfection of the developed methodology of cadastral valuation. Practical significance: historically, with the formation of states, a fiscal system was introduced. Taxation of real estate in modern Russia is regulated by a set of regulatory documents. Among the basic concepts of the field of taxation, the concept of the real estate tax base should be highlighted – the monetary expression of income from the sale of an immovable object. Thus, in recent years, changes have been made in the definition of the real estate tax base, which has a key impact on the formation of both the value and valuation of real estate and the formation of the fiscal policy itself in Russia. This article examines the process of changing the calculation of taxation in Russia in recent years, its procedure and the consequences of changing the calculation of real estate tax.

EXPENSES WITHIN A STEEL ENTERPRISE’S MANAGEMENT SYSTEM

The article discloses the accounting and analytical aspect of costs in the enterprise management system. In the production process, material, labor and other own and engaged resources are spent, which causes the occurrence of costs. The amount of incurred costs determines the competitiveness and profitability of the manufactured products, as well as the efficiency of indicators of the production activity of business entities. Management of the company's costs on the basis of the analysis of the elements of operating costs and the constituent items of the planned costing of finished products remains an urgent issue. The investigated metallurgical enterprise is part of the limited liability company «METINVEST HOLDING». In accordance with the legislation of Ukraine, the company maintains records and compiles financial statements according to international financial reporting standards, which ensure transparency and availability of information. It has been found that production is associated with costs, which play an important role in accounting and are of decisive importance in the formation of financial results of the business entity. The authors analyzed the indicators of the financial results of the «Metinvest» Group. The ratio of net debt to EBITDA was calculated, which shows how many years it will take Metinvest Group to repay its debt. Taking into account the production direction of the Private Joint-Stock Company «KAMET-STEEL», the dynamics of the elements of operating costs were determined according to the data of the Reports on the total income. The main tasks of cost accounting are argued and the elements of operating costs in PJSC «KAMET-STEEL» are detailed. It was determined that the biggest increase (negative changes) at the end of the reporting year, compared to the previous one, was material costs. It is proven that the determination of the cost of production is carried out with the help of costing, which is understood as the method of calculating or calculating the cost of a unit of manufactured products and its entire volume. Cost is a monetary expression of costs associated with the production and sale of products. Costing is a form, an accounting calculation, which is presented in tabular form and reflects the costs in monetary terms for the production of a unit of production or its entire volume. The article analyzes the articles of the planned costing of the blast furnace, liquid cast iron section of PJSC «KAMET-STEEL». The importance of calculating the cost price for cost management is summarized, as information is formed based on its data for further analysis in order to find opportunities to improve the efficiency of the company's operational activities.

Study of environmental safety and economic efficiency of digestate as biofertilizer

The conducted research is dedicated to: the importance of rational use of natural resources due to effective waste management; formation of the concept of a resource-saving agro-industrial complex due to the development and implementation of bio-organic technologies for growing agricultural crops for the production of biofuels from agro-biomass and animal husbandry waste; ensuring the energy independence of the industry and forming the country’s food security. The improved mechanism for the introduction of ecological innovations will contribute to: increasing the economic efficiency of the agricultural sector as a key factor of positive changes in order to find new, more effective and perfect implementations of ecological innovations in the development of food security of the state; reducing the impact of anthropogenic human activity on the surrounding natural environment and improving the socio-economic indicators of rural development. It was determined that the digestate contains a significant amount of mineral elements (nitrogen, phosphorus, potassium). In terms of speed of action (absorption of elements by plants), it resembles mineral fertilizers, since the elements N, P and K are easily available to plants. It was established that calculations of the cost of organic fertilizers based on cow dung, as well as digestate, which is obtained from a bioreactor during biogas production, showed that the monetary expression of organic-mineralized environmentally friendly fertilizer, which is obtained after fermentation processes from a biogas reactor, based on digestate, is worth to form by adding up the value of the nutritional chemical elements from which it is composed. Authors of the article Honcharuk I.V., Pantsyreva H.V. and Vovk V. are executors of applied research on the topic “Development of bio-organic technologies for growing agricultural crops for the production of biofuels and ensuring energy independence of the agricultural sector” (state registration number 0123U100311).

Wood and carbon credits trade in the Republic of Srpska

The reduction of forest areas globally and the growth of roundwood production are two key characteristics that have marked the wood market over the past twenty years. In 2019, 3.97 billion m3 of roundwood was produced in the world, or 14% more than in 2000. Asia is the leading continent with a share of 30.6% in global roundwood production. It is followed by North and South America with 28.9% and Africa with 19.4%. The share of Europe is 19.2%, and Oceania 1.9%. Observed by countries, the largest producers of roundwood in the world are the United States, India, China, Brazil and the Russian Federation, which in 2019 produced 1.64 billion m3 or 41.3% of total world production. Roundwood production in Europe, including the Russian Federation, had a similar growth trend as globally. In the period 2000– 2019, production increased by 187 million m3 , from 628 million m3 in 2000 to 815 million m3 in 2019. The largest producers of roundwood in Europe, after the Russian Federation, in 2019 were: Germany (76.2 million m3 ), Sweden (75.5 million m3 ), Finland (63.9 million m3 ), France 49.9 million m3 ) and Poland (44.1 million m3 ). The region of Southeast Europe participated with 3.1% in the total production of roundwood in Europe in 2019. In order to preserve forest ecosystems and prevent the placement of illegally felled trees, a global forest certification system has been established. Areas under forests that have been certified, and thus the amount of wood that is placed on the market with some of the certificates, are growing from year to year. According to the United Nations report, the total area under certified forests in the middle of 2019 amounted to 434.5 million ha globally. When it comes to state-owned forests in Republika Srpska, they are certified according to the FSC certification scheme. In 2019, the cut wood mass amounted to 3.07 million m3 and compared to 2000, it was higher by 4%. The average annual growth rate of wood production in the observed period was 0.46%. Forestry and wood processing in Republika Srpska account for about 6.5% of the employed population and participate with the same percentage in the gross national income, which in itself speaks of the importance of this resource for the economy and population of Republika Srpska. The concept that carbon stored in forest ecosystems has its own monetary expression and marketability provides opportunities to generate carbon credits as a relatively new type of goods, giving developing countries (such as Bosnia and Herzegovina) opportunities to achieve multiple economic and financial benefits. Therefore, it is necessary to focus the economic interests of the forestry sector not only on wood assortments, but also on other types of goods, in order to simultaneously direct forestry towards the leading economic trends of green, circular and bioeconomy. Although they are significantly lower in terms of volume and turnover of carbon credits, the trends indicate a great perspective for the development of voluntary markets, especially for project activities within the forestry sector. Simultaneously with the declining trend in regulated markets within the CDM mechanisms, growth is envisaged for voluntary markets in terms of volume, monetary value and number of participants. It is crucial for the Republika Srpska to intensify efforts aimed at the development of human resources, in order to create preconditions for global trends monitoring and identification of optimal opportunities for the forestry sector and other sectors. It is certain that constant changes are expected in future, and in order to be included in this type of market flows, it is necessary to develop effective instruments for a constant monitoring and evaluation of market trends.

A Model of the Monetary Expression of Labor Time with Non-commodity Money

Following the commodity-money system that prevailed at the time of his research, Marx assumed the monetary expression of labor time (MELT) to be fixed. This assumption cannot hold in the contemporary regime of non-commodity money. It is essential to resolve the question of how the MELT is determined in a system of non-commodity money. The expression is the ratio of the total paper money circulating in the economy, less all paper money advanced on constant capital, to the total number of socially necessary labor hours exerted in the economy. Expressed algebraically, m = (Mv − C)/L. This model differs from those proposed by Moseley; Saros; Rieu, Lee, and Ahn; and Foley. JEL Classification: B51, E11

ТЕОРЕТИЧНІ АСПЕКТИ ОЦІНКИ В СИСТЕМІ БУХГАЛТЕРСЬКОГО ОБЛІКУ

Enterprises often request the services of valuation expertise and value consulting, and in some cases, conduct it themselves. The purpose of the article is to determine the theoretical aspects of assessment in the accounting system. The task was to determine what the reality of the assessment in accounting is. To determine the value of the actual cost, costing is used a method of calculating the cost, a means of binding the object according to one or another price of a certain assessment. It was concluded that it is very difficult to objectively assess profitability, which leads to a variety of financial assessments, including tax, investment and credit assessments. It has been established that tax assessment is related to the fact that each type of tax or fee usually requires special methods of property assessment for taxation purposes. It was concluded that investment estimates can be used in predictive studies when calculating the efficiency of future capital investments. It is emphasized that credit evaluations are designed to measure the value of collateral for loans. So, valuation as an accounting method, is a way of monetary expression of the objects of this accounting (property, liabilities, business transactions) by means of summarizing costs in order to reflect them in accounting. The reality of the assessment consists in the calculation and display of the true size of certain types of funds, including the sources of their formation (the monetary expression of the accounting objects must correspond to their actual value).

ДЕБІТОРСЬКА ЗАБОРГОВАНІСТЬ ЗА ПРОДУКЦІЮ (ТОВАРИ, РОБОТИ, ПОСЛУГИ) В ОБЛІКОВО-ЕКОНОМІЧНІЙ СИСТЕМІ ПІДПРИЄМСТВА

Calculations are a tool for regulating economic relations, especially in the part of accounts receivable. They are a component of the process of extended reproduction, formation and distribution of the social product. The article examines scientific approaches to the interpretation of the economic category "receivables". It has been established that scientists in the field of economics and enterprise management interpret receivables as: a monetary expression of the result of an economic transaction of a credit nature; a financial instrument arising as a result of economic relations. Accounting scholars identify receivables as: a claim (right), debts, a component of current assets, a financial asset of an enterprise. The methodological aspects of accounting for receivables for products (goods, works, services) are considered: the procedure for recognition, evaluation, classification. The peculiarities of the construction of the accounts receivable accounting system, which arises in the process of implementation, are revealed. In order to detail accounting information about the company's counterparties, which take part in the implementation process, it is proposed to allocate separate sub-accounts for accounting of settlements with domestic and foreign customers. This will increase the analyticity of accounting information and delimit buyers and customers as separate groups of legal entities. The information flows that are present when documenting settlement operations with buyers and customers are highlighted. The display of the process of selling finished products in the system of accounting accounts is shown, based on the terms of the contract concluded with the buyer: on the terms of advance payment, or on the terms of subsequent payment. It is substantiated that in the accounting practice of enterprises, the assessment of receivables depends on the reasons and conditions of its occurrence and involves the use of the following types of assessments: original cost; present value of future payments; net realizable value.

A model of values and prices based on a solution to the transformation problem

This article presents a comprehensive values and prices formation model based on Marx’s (1992, 1993) labor theory of value within a Temporal Single-System Interpretation (TSSI) framework. This model bases on a new interpretation of the Marxian Fundamental Theorem (FMT) and the Monetary Expression of Labor Time (MELT). If the modification in the dialectical sequence of the formation of the categories and the introduction of the dual determination of socially necessary labor time are accepted, the transformation problem encounters solution in the interpretation of Carchedi and de Haan (1996). Likewise, contemporary approaches reveal the need for a redefinition of key categories of the Marxist labor theory of value to develop a logically coherent model. Thus, the proposed model includes the dimension of the realization problem that commodities face in the market and introduce analytical categories for both production and realization periods. Finally, value category is redefined.

MONETARY EXPRESSION OF THE EFFECTS OF THE SPIRITUAL TECHNIQUES APPLICATION IN ORDER TO RAISE THE QUALITY OF MARKETING AND MANAGEMENT SYSTEMS IN COMPANIES

Spiritual techniques aim to influence individuals, if they are willing to approach a positive change in their negative patterns. What is available through the Nlp technique or neuro-linguistic programming is now available through other techniques as well. The importance of spiritual techniques existence is reflected in the change of lifestyle in order to live more fulfilled through all aspects of life: social, economic, business and health.If spiritual techniques were applied in companies and enterprises, starting from individuals to groups, the success of the company could be influenced. This success is reflected in the individual and group goals of the company.It is known that successful company is the one whose employees influence and work together on achieving the same and common goals of the company. The company’s management uses all available resources to raise business efficiency, which, justifiably, raises the question of monetary expression of the spiritual techniques contribution in everyday business. This paper aims to open the horizons of the business world when it comes to other strategies for successful business with the use of psychological and spiritual positive techniques. These strategies would be a new way of approaching business, and the optimal one would be sustainably based on the results of games against nature, but also on building a healthy business environment in the internal and external environment of the company. Any form of physical activity such as stretching, yoga and breathing techniques lead to the release of bad emotions and stress from our body, which improves overall quality of life. Another technique is reiki technique. Reiki is an unconventional energy healing technique. It refers to our life energy, which we all have within ourselves. All these techniques help a person to live in psychophysical balance. These techniques complement the work on ourselves through everything we normally do, such as actions, rational methods etc. We should always take real steps and actions, and be aware of the present moment. People have common sense that should be used in every situation. Combining the work on ourselves through rational, sports, health and spiritual techniques can bring many benefits to a person and it is best to combine these methods creating a unique approach to psycho-physical health. Each person should make their own combination, a unique combination of all these techniques in accordance with themselves. Personal growth results in better relationships with ourselves and others through greater support and understanding. In order to live our values, love and to understand each other, it is necessary, above all, to be kind to ourselves, to give ourselves support and understanding. If we work on internal dialogue, we can be more successful in communication with others. Indicators of monetary business efficiency based on the engagement of ESTH managers (Education, Spiritual Technique and Health manager), significantly raises business efficiency. The strategic commitment is not based on the subjective attitude of the decision maker, but on scientifically based evidence.

The hidden face of the value in eco-design tools : Theoretical basis of an essential concept

Since the end of the 20th century, the engineering field, like many other sectors, has been faced with society's new preoccupations. Eco-design strives to reduce the harmful effect of industrial production and mass consumption on the environment. It makes use of tools and methods which, besides being built on technical and scientific foundations, borrow a vocabulary from economics and management science (“cost-benefits”, “needs”, “stakeholders”, etc.) and puts a fundamental category -“value”-, back on the agenda. This research endeavors to show how these foundational concepts “contaminate” the tools colonized by an economical imaginary. Researchers' and scientists' attempts to modify or overturn the existing order come up against a blind spot: the definition of value in the engineering field and, more specifically in sustainable development, finds its theoretical origins in the political economics of the 18th century, more precisely in the neo-classical economy of the 19th century. Through a narrative review methodology, we first argue that eco-design have not broken away from the ideology of orthodox economics, where riches are reduced to a simple monetary expression, and the social and environmental consequences are evaluated in terms of cost/benefits in the light of a rational instrumentality. Then, to illustrate these propositions, we base our arguments on the analysis of three tools used to develop ideas of sustainable development/innovation: Life Cycle Assessment; the Value Mapping tool, and the Triple Layered Business Model Canvas.

Evaluating the falling rate of profit in the context of the UK economy

In this study, by utilizing quarterly data for the UK economy over the period 1985Q1 to 2019Q4, we explore (a) the determinants of the profit rate in the context of the Marxian tradition and (b) by using a probabilistic framework of analysis, we investigate the factors associated with the occurrences of UK recessions. The evidence indicates that the wage share of income is inversely related to the profit rate whilst the capacity utilization, the capacity-to-capital ratio and the monetary expression of labour time have all a positive impact on the profit rate. Additional evidence suggests that the probability of a recession decreases with higher profitability, whilst at the same time the wage-led hypothesis is also supported. Finally, the impact of interest rates on the likelihood of UK's economic recessions is found to be insignificant.

ЕВОЛЮЦІЯ НАУКОВОЇ ДУМКИ ЩОДО СУТНОСТІ АМОРТИЗАЦІЇ ТА ЇЇ ЗНАЧЕННЯ В АМОРТИЗАЦІЙНІЙ ПОЛІТИЦІ ПІДПРИЄМСТВА

The article examines the economic category of “depreciation” in the works of scientists and regulations: different positions, approaches, concepts, aspects and options. The main shortcomings about the role of depreciation in modern business conditions are emphasized: 1) neglect of the importance of the process of depreciation of fixed assets in the enterprise; 2) mixing the concepts of “depreciation”, “depreciation deductions”, “wear”; 3) appropriation of depreciation of functions not peculiar to it. There are eight main positions in the works of scientists about the economic essence of depreciation, but none of these positions corresponds to the role of depreciation in modern conditions. The main approaches to the interpretation of depreciation by scientists are as follows: 1) depreciation – a monetary expression of depreciation of fixed assets; 2) depreciation – the process of transferring the cost of depreciation of fixed assets to the cost of production; 3) depreciation – the method of accounting; 4) depreciation – an investment resource and a means of accumulating funds for further renewal of means of labor. The variety of approaches to the interpretation of the term “depreciation” made it possible to systematize and combine certain approaches in the concept of depreciation. The main conceptual and specific approaches the author considers the legislative, classical, including economic and accounting, as well as tax. The classical approach is based on the concept of depreciation and impairment of fixed assets, reimbursement of their value and reproduction. Based on the analysis of concepts and aspects of depreciation, a new approach to determining the nature of depreciation under market conditions has been formed.. Today, depreciation of fixed assets is an interactive tool for strategic management and optimization of the tax potential of the enterprise

DOCUMENTATION OF FINANCED COSTS OF FINISHED PRODUCTION AT AN INDUSTRIAL ENTERPRISE

Understanding the importance of costs is important for effective enterprise management. Cost analysis helps to determine the level of the company, calculate the optimal cost, rationally set prices, plan the level of profit and profitability. Carrying out economic and production activities, the company consumes raw materials, fuel, energy, pays wages to employees who are charged for social and pension insurance, and bears other costs. That is, production costs refer to the costs incurred by the company in the manufacture of products or provision of works and services. Production costs are directly related to the income of the enterprise, as it is reimbursed from the proceeds from the sale of products (works, services), which ensures the continuity of the production process. The costs of the enterprise in accounting are reflected in a single monetary expression, and ultimately constitute the cost. Accounting of finished products is carried out on the basis of proper processing and execution of the relevant primary documents. Technologically, accounting as a process begins with the detection, measurement and registration of facts, actions and events in order to obtain information about business transactions. Thus, continuous monitoring of all business transactions at the enterprise is carried out through documentation. This article reveals the essence and significance of accounting documentation for the production of finished products, as well as synthetic and analytical cost accounting on the example of an individual enterprise, namely the Limited Liability Company «Tokmatskyi kovalsko – shtampuvalnyi zavod», which are directly included in the cost of finished products. The practical value of the results of the study lies in the possibility of implementing recommendations in the activities of industrial enterprises, which will improve the quality, efficiency of processing accounting information and profitability of the enterprise.

Problem of Legal Inheritance of English Medieval Borough: Borough Customs about Debt Obligations

This article is devoted to the problem of legal inheritance of the medieval English boroughs in the field of debt obligations (their regulation by borough customs). Usually this legal regulation was linked with the process of attachment, distress and further confiscation of property in case of default of a debtor. Borough customs organized everyday life of boroughs in due way and brought to life an element of “civilized approach” in the sphere of law. They minimized behavioral anarchy when collecting debt. In spite of the fact that in some boroughs the right of collecting belonged to a creditor, who could distress his debtor right in the street, nevertheless the process of distress wasn’t marked by a total legal arbitrariness. In many cases distress was prohibited inside the house in order not to brake its private space, and a debtor usually received a summon to appear in court (sometimes it was sent thrice). Attachment and subsequent trail provided a special legal procedure and its proper order in the actions of both plaintiffs and defendants, including their behavior before the Jury. Besides, after the sale of property on the account of debt, a defendant could (and often was obliged) initiate so-called replevin, that is return to himself a part of property (or its monetary expression) which had not been sold after cash coverage of debt. He had to initiate so called affidation (appeal to bailiffs through the court). At the service of the persons connected with debt obligations was also a custom of withernam, which provided a collective responsibility of borough community for financial “costs” of its members.

КЛІМАТИЧНІ ЗМІНИ ЯК НОВІТНЯ ДЕТЕРМІНАНТА КОРПОРАТИВНИХ СТРАТЕГІЙ РИЗИК-МЕНЕДЖМЕНТУ БАГАТОНАЦІОНАЛЬНИХ ПІДПРИЄМСТВ

The purpose of the paper is to summarize and present the fundamental trends of the last decade related to climate change, as well as interstate and global economic campaigns aimed at slowing down this process, that create a powerful new determinant for multinational enterprises (MNE) in the areas of corporate governance, risk management and sound management of climate risks and opportunities. The analysis is based on the recent studies of the leading international researchers such as International Energy Agency and The Economist Intelligence Unit, dedicated United Nations bodies, Universities, and also association of MNE Task Force on Climate-related Financial Disclosures. Results of the analysis showed that climate risks and opportunities already have a clear monetary expression and impact on MNE. Modern efficient business faces a need to build an effective system for managing such risks, which, in addition to the direct effect on MNE, will also be an important signal for the stakeholders, that in turn may reduce the cost of the raised capital and increase the level of revenues. For some EU countries, it will soon become mandatory to cover climate risk management principles and approaches in their annual reports. Internal models are being developed that show the impact of climate change on MNE business (for example, an increase in total temperature by 1,5 °C, 2 °C, 4 °C). Therefore, a unified approach towards climate risk management becomes a topic of high importance for MNE and its stakeholders, including regulators, investors, shareholders and society. The conducted analysis provides deep understanding of the main drivers of climate risk management for MNE together with its practical implication that is emerging in the world economy.

ECOLOGICAL AND ECONOMIC IMPERATIVES FOR THE DEVELOPMENT OF FORESTRY, HUNTING AND WATER MANAGEMENT IN UKRAINE

Purpose. The aim of the article is substantiation of the need to use the ecological and economic approach in the process of functioning of forestry, water, hunting in Ukraine. Methodology of research. The theoretical and methodological basis of writing the article are the fundamental provisions of economic theory, set out in the scientific works of domestic and foreign scientists on the efficiency (ecological and economic) use of forest, water resources and hunting grounds of Ukraine. General and special methods were used to solve certain tasks in the research process, in particular: analysis, synthesis, induction, deduction (to characterize the environmental and economic problems of forestry, water, hunting); abstract and logical (for the formation of conclusions and proposals on the need to use the ecological and economic approach and ecological rent as a direction of improving the ecological condition of forestry, water and hunting). Findings. It is argued that the economic, environmental, compensatory role of water and forest resources is growing, due to the man-made load on the environment in the world and in Ukraine. The content and algorithm of calculation of ecological rent as environment-forming value of forestry, water, hunting economy are determined. Problems of functioning and directions of development of forest, water, hunting economy are substantiated. Originality. Ecological and economic approach to the functioning of forestry, water, hunting in Ukraine was improved. This approach in contrast to the existing, allowed substantiating the need and developing an algorithm for using environmental rents as an environment of value of forest, water, hunting (monetary expression of ecological effect). Practical value. The use of the proposed ecological and economic approach allows to make informed decisions in the process of functioning of forestry, water hunting in Ukraine and to reduce the negative ecological consequences of nature management. Key words: forestry, water management, hunting management, ecological rent, ecological and economic approach, efficiency, nature management.

The Machine Prediction of the Mutual Trade between the PRC and the Czech Republic in the Global Extraordinary Situation

Research background: International trade is a substantial constituent of the global and regional economic development. The analysis of mutual trade serves as a tool for a monetary expression of economic transactions between a particular country and its foreign partners for a specific period. For the Czech Republic (CR), the People’s Republic of China (PRC) is the biggest exporter and the second biggest importer. The USA, however, imposes a number of economic sanctions against the PRC that do not have any significant impact on the trade between both countries and the overall growth of the Chinese economy, yet they affect the behavior of consumers and producers both in the USA and in the PRC. Purpose of the article: The aim of this paper is to use machine learning for predicting the future values of the mutual trade between the CR and the PRC for one calendar year (i.e. 12 months). Methods: Monthly data of these two states´ import and export are used to predict bilateral trade flow. The time series begins in January 2005 and ends in April 2020. Thus, the time series contains 184 data lines. Artificial intelligence - artificial neural networks - is used to predict bilateral trade flow between the PRC and the CR. The development of trade is then compared with the mutual sanctions of the PRC and the USA. Findings & Value added: This is expected that the mutual trade balance to be negative from the perspective of the CR. COVID-19 or the sanctions imposed in the international trade will not significantly affect the development of the mutual trade between the CR and the PRC.

Прибутковість підприємства та шляхи її підвищення

The object of research of the article is the profit of enterprise and ways to increase it. The scholars’ opinions on the definition of «enterprise profit» were analyzed and the main approaches to its understanding are formed. According to the specified approaches, profit can be figured as follows: a monetary expression of part of the value of an additional product; net income of the entrepreneur from the invested capital; the difference between total income and total expenses; positive financial result of enterprise. According to the study, the definition of the concept of «profit» is formed and the essence of its meaning together with main functions is disclosed. The article discusses the theoretical aspects of increasing the profitability of enterprise, examines the factors of influence. Among the main factors influencing profits can be identified two groups: factors that do not depend on the activities of the enterprise (external); factors within the competence of enterprises (internal). The enterprise’s strategies related to profit are analyzed. The profitability of enterprise is an indicator that directly determines the final result of the activity of any enterprise. Increasing the profitability is one of the main goals of the management of any enterprise. There are many methods of increasing profitability, each enterprise chooses the most advantageous and convenient for itself, some of the methods are discussed in this article. The methodological and informational basis for the study of profitability of enterprise and ways to increase it are special and methodical literature by foreign and domestic authors, statistics of the Ministry of Statistics of Ukraine, periodic and reference literature; accounting, statistical, and operational reporting.

ЕКОНОМІЧНІ АСПЕКТИ ВДОСКОНАЛЕННЯ КЛАСИФІКАЦІЇ ВИТРАТ ПІДПРИЄМСТВА ЗА ЕКОНОМІЧНИМИ ЕЛЕМЕНТАМИ

The article is devoted to the specification of areas and features of improving the classification of costs of the enterprise by elements, in order to successfully manage them. The study was considered on the example of both Ukrainian and Iraqi enterprises, as this classification differs slightly at these enterprises. But it is clarified that differences in the classification of costs by elements may exist not only for different countries, but also due to different opinions of scientists. Questions on production costs in various aspects were dealt with by such domestic and foreign scientists as: F. Butynets, V. Kozak, V. Lastovetsky, O. Moshkovskaya, M. Skrypnyk, O. Grishnova, A. Turilo, Y. Kravchuk and others. It has been found that the issue of classification of costs by elements has recently lost some popularity among Ukrainian economists. There is a fairly large number of criteria for classifying costs, which indicates the importance of information about this object in different views for management purposes. It is specified that the main factors of production (activity), ie the monetary expression of the expenditure of these factors, should be considered as the basis for the classification of costs by elements. The necessity of flexible change of classification of expenses on elements depending on evolution of change in quantity of the used factors and cost structure of expenses for their attraction is substantiated. It is proposed to divide the costs into constants and variables within each item according to the element classification. This logic of cost classification will clarify the cost structure, make it more convenient for management purposes (analysis, rationing, pricing, budgeting). It was found that the costs of the proposed elements will differ in terms of dominance of fixed or variable components. It is proposed in further explorations in this direction to clarify the possibilities of further classification of costs within each element. The generally approved forms of statistical reporting should change over time to describe more objectively what is happening at most enterprises in the country. However, the change of these forms will always be slower than required by the actual circumstances and changes in existing enterprises.

ПІДХОДИ ДО ОБЛІКУ ЕКСПЛУАТАЦІЙНИХ ВИТРАТ ПІДПРИЄМСТВ ЗАЛІЗНИЧНОГО ТРАНСПОРТУ

Cost management requires not only purposeful planning and cost management based on the application of not only differentiated technically and economically sound cost standards, but also analysis, control of their implementation, as well as constant updating of the regulatory base of cost calculation. It is relevant to determine the place occupied by operating costs in the system of costs of rail transport, how they relate to the cost of transport, to establish criteria for determining the composition of works on farms that form operating costs, and to explore approaches to accounting for operating costs of railway undertakings. Operating costs are the monetary expression of the running costs of the railways, the cost of which is divided by the volume of transport performed, constituting the cost of transporting a unit of cargo, passenger, luggage or mail. These include the costs of maintenance and ancillary support activities for maintenance activities (except for expenses reimbursed by additional fees and charges).