EVALUATION OF THE PERFORMING MECHANISM OF FORWARD OPERATIONS AND ITS ANALYTICAL SUPPLY
Journal Title: Держава та регіони. Серія: Економіка та підприємництво - Year 2018, Vol 2, Issue 101
Abstract
Formulation of the problem. A forward transaction is a civil law concept, as it is used in many countries as a legal institution, but in Ukraine, taking into account political and economic reasons, it has almost been forgotten. So gradually the forward contract is started to be used in agriculture, but the order of keeping records of such operations is not completely determined. Therefore, taking into account new methods of using lending in agriculture, it is necessary to determine their efficiency in this field. Recently, forward operations in the agricultural sector become practical, while in this area the tax burden increases due to the abolition of preferential taxation, which has weakened the requirements for accounting, accrual, and payment of taxes. At a time when forward operations are only beginning to develop in Ukraine, for their efficient use, it is necessary to improve processes concerning the procedure for the conclusion of this agreement, its maintenance, with minimal expenses for enterprises. Conclusions. Taking into account the current legislation, including the system of taxation, accounting in Ukraine, forward operations are imperfect, require considerable additional expenses for registration, their maintenance, which is one of the negative aspects, is economically unprofitable for an agricultural commodity producer, while working capital is necessary to maintain the timeliness of the technological process. The introduction of forward operations and the purchase of future harvests by government agencies are a positive side, which enables the latter to control price policy in the market in this way and to control the country’s food security. Analysis and reliable accounting of forward transactions in accounting accounts will ensure its carrying out and calculation of economic benefits for all parties to such transactions.
Authors and Affiliations
O. O. Yatsukh
Keywords
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