Some features of corporate accounting at the enterprise
Journal Title: Економіка. Фінанси. Право - Year 2018, Vol 8, Issue
Abstract
Introduction. The process of integrating Ukraine's accounting system into the global economic system, as its organic component, makes it necessary to build a system of accounting and reporting that meets the principles and requirements of IFRS. For the purpose of applying IFRS by domestic enterprises, it is necessary to regulate the accounting and reporting information, which should disclose issues related to the principles of accounting, presentation of financial statements and disclosure, in general, the accounting system and specific objects of accounting, including fixed assets. Purpose. The purpose of the study is to develop conceptual approaches to the formation of accounting information that allows to improve the domestic accounting of fixed assets that meets the requirements of IFRS. Results. The features of accounting for fixed assets, namely, approaches to the valuation, accounting, presentation in the financial statements of fixed assets in accordance with AS and IFRS. The importance of valuation of property, plant and equipment at fair value for the purpose of compilation of reliable accounting is indicated. Generalized accounting tasks under Ukrainian law and IFRS have allowed us to conclude on the importance of financial reporting for users. Considered the principles of accounting for fixed assets. The proposals on the improvement of legislation on the issues of evaluation and presentation of fixed assets in the financial statements are formulated. Conclusion. The basis for the differences between international and Ukrainian accounting and reporting systems is the difference in the final use of reporting information. IFRS reporting is used by investors and other organizations, financial institutions, and financial statements for AS, used by public administration and statistics. Since these groups of users have different interests and information needs, the principles of compiling financial statements are also different. At the methodological level of regulatory accounting, the regulation of the order of valuation of fixed assets can be realized through the development and implementation in the accounting practice of domestic methodological recommendations, reflecting the formation of value and movement of fixed assets, their valuation at fair value. Using the principles of international standards in the preparation of financial statements, domestic enterprises acquire more interested persons who want to have a variety of information about their activities.
Authors and Affiliations
Alina Oleksandrivna Semenets, Nataliia Mykolaivna Saienko
Keywords
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