PROSPECTS FOR THE DEVELOPMENT OF CASH FLOW ACCOUNTING OF PUBLIC SECTOR ENTITIES

Анотація

Cash flows are the central element of ensuring the functioning of any economic entity, due to which their accounting is very relevant, because they are related to the practical needs of financial management, which is of great importance in the conditions of imbalanced financing of the publicsector. That is why the purpose of the article is to outline prospective vectors of development of accounting of cash flow of state sector entities in accordance with the Strategies of modernization of the accounting system and financial accounting in the public sector for the period up to 2025 and the current economic realities. It was found that the first priority task is the unambiguous identification of cash flows as a complex object of accounting in the public sector. To solve this problem, it is suggested to use dynamic approach, which, in contrast to the statistical one, reveals the real essence of cash flows and makes it possible to analyze the efficiency of cash management in the course of budget programs implementation. The composition of cash flow instruments (forms of cash existence) of public sector entities has been studied and, along with traditional ones, the latest instruments in the form of cash equivalents and electronic money have been singled out. Emphasis is placed on the recognition of such instruments based on the results of the analysis of essential characteristics. A critical analysis of the regulatory and methodological support of accounting for such tools. The discrepancy between the composition of accounting accounts and the procedure for their use to the economic content of cash flows generated by cash equivalents and electronic money has been established. Based on the analysis of professional judgments, the basic scheme of recognition and the method of reflection in the accounting of information on the relevant cash flows by double entry is substantiated. Alternative methods of disclosing information about cash flows in the financial statements of public sector entities were described: direct and indirect, and at the same time it is not advisable to limit the subjects of the public sector to only one of them in view of the differences in information requests of different groups of recipients, for whom the reporting is focused.

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