Adaptation of accounting operations to the challenges of martial law in Ukraine

Анотація

The article examines the features of accounting in Ukraine under martial law. The main challenges enterprises face in maintaining accounting records are analyzed. It has been determined that the accounting process is significantly affected by asset destruction and damage, document loss, staff rotation, interruptions to accounting systems, and the inability to access data promptly. Attention is paid to the issues of accounting for assets that enterprises have lost access to due to hostility or the occupation of territories. It is noted that there are significant difficulties in verifying the reliability of accounting data, which affects the accuracy of assessing enterprises’ financial positions. An addition to the working chart of accounts is proposed: the analytical feature “location of assets”. This allows for the differentiation of assets by risk level, from those in safe territories to those in zones of active hostilities or occupied territories. Corresponding clarifications should also be included in the notes to the financial statements. This approach will increase the objective of financial reporting and improve the information support for management decisions. The importance of digitalizing accounting processes, introducing electronic document management, and leveraging automated and cloud technologies to ensure data storage, remote access, and the continuity of accounting activities under wartime conditions is emphasized. Recommendations are proposed to amend elements of enterprises’ accounting policies to adapt them to the conditions of martial law. The key recommendations include defining procedures for assessing asset impairment, establishing accruals for reserves, determining inventory periods, implementing electronic document management, creating backup copies of accounting data, and implementing an internal audit to ensure the reliability of information. These recommendations are essential for ensuring the accuracy of accounting information, maintaining enterprise information security, improving the reliability of financial statements, and laying the foundations for anti-crisis management during martial law. Keywords: accounting, accounting policy, martial law, impairment, expenses, assets, chart of accounts, financial statements, primary documents.

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