Cost and managerial accounting of joint activities related to the use of fixed assets
Journal Title: Visnyk Ternopilskoho natsionalnoho ekonomichnoho universytetu - Year 2018, Vol 2, Issue
Abstract
The research paper reveals the essence of the concepts of joint activity, joint operation, and joint venture. A set of key features for classification of joint activities is identified and their impact on accounting of joint activities is assessed. The article also reviews the essential elements of accounting of joint activities in the light of International Financial Reporting Standards (IFRS), and characterizes the process of recording accounting entries related to basic operations, which depend on organizational forms of joint activities (a joint venture or a joint operation, with or without a separate entity). The paper provides a detailed description of three options for accounting of joint activities classified as joint operations, namely: joint operations without a separate entity; joint operations with a separate entity but without legal personality; a legal unit. Besides, a number of particular characteristics of measuring financial results from selling and purchasing assets within joint operations are identified. It is pointed out that one of the ways of effective use of fixed assets is promoting the implementation of managerial ac¬counting of joint activities and internal reporting procedures of the results achieved. It is suggested that domestic enterprises of oil and gas industry should expand the practice of joint activities in order to effectively use fixed assets for oil and gas extraction and transportation. Before conducting joint activities, it is recommended that oil and gas industry enterprises compile initial calculations of their profitability at the level of managerial accounting. In the study, the following general and specific scientific methods of obtaining knowledge on economic phenomena are used: generalization, grouping and comparison, analysis, synthesis, induction and deduction, etc.
Authors and Affiliations
Zenovii Zadorozhnyi, Valentyna Orlova, Sofiia Kafka
Keywords
Related Articles
- EP ID EP463163
- DOI -
- Views 86
- Downloads 0
Mathematical models of unshadowing the wages
The article addresses a social and economic phenomenon of shadow economy, which is typical for many countries and may result in a macroeconomic imbalance. The latter hinders the sustainable growth of the economy and lead...
Transformation of banking in the new paradigm strategy of Ukraine’s development
The article considers the issues of transformation of banking into the new strategy of Ukraine’s development in conformity with the accelerating comprehensive transformations of the modern world. It is found that the cri...
Systematic synthesis of the methods for evaluation of investment attractiveness of the housing maintenance and utilities enterprises
Housing maintenance and utilities is the sphere, which aim of functioning is providing conditions and a proper level of population welfare, cities functioning and providing qualitative services. The given complex has com...
Competitiveness of Ukraine’s system of taxation within the framework of integration into the European Union
The article reveals the essence and role of competitiveness of the taxation system taking into account retrospective trends and current aspects. In addition, it provides insight into main ways in which tax competition ma...
Accounting in Ukraine: implementation of the European Union directives
The study focuses on changes made to the Law of Ukraine “On Accounting and Financial Reporting in Ukraine” for the purpose of implementing accounting standards to the European Union directives. The object of the research...