ACCOUNTING FOR SETTLEMENTS WITH BUYERS AND CUSTOMERS: DIRECTIONS FOR REFORMING AND IMPROVING THE METHODOLOGY
Journal Title: The Institute of Accounting, Control, and Analysis in the Globalization Circumstances - Year 2016, Vol 4, Issue 4
Abstract
Introduction. Analysis of the activity of juice production enterprises has shown that the greatest specific weight in the Balance Sheet is accounts receivable, related to settlements with customers and customers. It should be noted that the terms "buyer" and "customer" are found in many regulatory legal acts of Ukraine that regulate certain industry aspects of activities. However, there are no such concepts in ANS, which leads to economic and legal inaccuracies in contracting. Instruction on the application of the plan of accounts for the accounting of assets, capital, liabilities and business operations of enterprises and organizations is also obsolete and the designation of subaccounts reflecting the groupings of information on debtors does not correspond to the realities of life. The study is devoted to theoretical and practical issues of accounts receivable under market conditions. Methods. The following methods were used for the purposes of this study: dialectical method of cognition, abstraction, comparison, monographic, groupings, generalizations in the monitoring of scientists' thoughts, axiomnias, analysis of normative and legal acts, and also the method of creating a theory when clarifying the terms "buyers" and "customers". Results. The issues of the accounts receivable reflection in the system of accounts that requires the improvement of existing regulatory documents and, in particular, the Instruction for the application of the Chart of Accounts for the accounting of assets, capital, liabilities and business transactions of enterprises and organizations are considered in the article. The difference in certain terms "buyers" and "customers" is proved, which, in turn, requires the opening of separate sub-accounts for their accounting. The proposals on the reflection of commodity exchange transactions and operations with give-and-share raw materials on sub-accounts of the second order, which should be reflected in the Work Plan of the accounts of the enterprise, are given. The lack of methodological recommendations for discount accounting, which provide buyers and customers, requires the introduction of a separate sub-account that will display this information. The implementation of these proposals will improve the grouping of information on the composition of receivables and facilitate the adoption of optimal management decisions to regulate it. Discussion. The definition of the nature of receivables and the improvement of its accounting was examined in the writings of many economist scholars, such as F. F. Efimova, A. A. Dovzhik, V. Zhukova, J. V. Slyvka, I. V. Suprunova, S. L. Bereza and others. However, a number of issues, especially with regard to the use of subaccounts for the recording of receivables, remain unresolved.
Authors and Affiliations
Ludmila Kruchak
Keywords
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