Economic and legal aspects of double entry of economics life facts in accounting
Journal Title: Економіка. Фінанси. Право - Year 2019, Vol 3, Issue
Abstract
In the vast majority of scientific publications double entry is considered from the standpoint of history as an element of the accounting method and only a small part of the scientists are trying to find out in general, due to the relationship of accounting and law, the essence of double entry and its importance for obtaining qualitative accounting information in making effective managerial decisions. The purpose of the paper is to identify and review the main approaches of scientists regarding the interpretation of the economic and legal aspect of the double entry of economic life facts. Finding the existence of the relationship between accounting and law through the processing of the accounting and legal information array that important for users by accountants in reflecting the economic life facts in accounting. The paper covers the issue of the content of economic and legal information about the economic life facts, which are reflected in the accounting. The analysis of researches, interpretations of double entry essence from the standpoint of the economic and legal approach of modern and outstanding scientists in the retrospective is done. The examples of information sections about the economic life facts, that affect on determination of double entry and accounts correspondence, which are important for users of qualitative accounting information are given. The actual problems regarding the presence of disagreements and contradictions in the legal regulation of accounting, economics activity in accordance with the civil and commercial codes, liability of legal entities and individuals are identified. According to the research results in the paper the following conclusions are formed: 1. The interaction and interconnection of the economic and legal components of the economic life facts with a double entry and overall with the accounting have historically been shaped by objective reality. 2. With the help of a double entry the interconnection between the economic and legal relations of the enterprise are fixed and revealed. 3. The economic and legal cuts of information about economic life facts affect the double entry definition and accounts correspondence that are important for users of qualitative accounting information. The question of the interconnection of accounting and law remains the subject of discussions for a long time. The ignoring of the economic and legal aspects of the double entry of the economic life facts in accounting leads to the separation of scientists' researches on this subject and contradictions, ambiguous interpretation of the legal regulation of accounting and economic activities of enterprises.
Authors and Affiliations
Tetiana Anatoliivna Butynets
Keywords
Related Articles
- EP ID EP670818
- DOI -
- Views 90
- Downloads 0
The necessity for the introduction of financial controlling in a bank
This article deals with the appointment of banking controlling. The theoretical basis of nature of controlling of banking. The expediency of using controlling activities in order to create a system of effective managemen...
The psychological component of the mediation procedure in civil proceedings
The psychological content of the procedure of mediation in civil legal proceedings is investigated as well as the gaps in the legal regulation of the designated institute from the standpoint of psychological science. In...
Features of the asset management of commercial bank
The article is devoted to determining the features of asset management of a commercial bank. Key factors influencing the management of assets are identified. Based on the analysis conducted, recommendations were provided...
The actual challenges of investment activity in the context of the formation of the investment strategy of Ukraine
The article reveals the key aspects of the current development of investment activity in Ukraine based on the need to formulate a balanced investment strategy of the national economy. On the basis of the analysis of inve...
Foreign experience of using non-governmental pension instruments for development of human potential in Ukraine
The article deals with the distribution of non-state pension funds by types of pension schemes and asset structure in the context of countries P7. The analysis of the growth of assets of 7 countries with the largest pens...