PROBLEMATIC ASPECTS OF ACCOUNTING REFLECTION OF PROVISIONS FOR FUTURE EXPENSES AND PAYMENTS

Анотація

The relevance of this research is indisputable because a significant number of issues regarding the accounting of future expenses and payments (mandatory creation, different approaches to classification, imperfect regulations, complexity of calculating the size and order of accounting) are debatable and require detailed study. as it is one of the effective ways to prevent risks that may arise in the course of economic activity of any enterprise, as well as the formation of collateral improves financial stability of the enterprise, as it reduces the risk of significant losses and profitability in some periods. The article systematizes and explores the main problematic aspects of accounting for future expenses and payments, in particular due to the presence of many uncoordinated issues of collateral: mandatory creation, different approaches to classification, imperfect regulations, complexity of calculating the size and order of reflection in accounting. Possible ways to solve these problems by researching and further developing the issue of collateral classification are suggested. By separating different types of collateral, unifying regulations, detailing the existing chart of accounts (by introducing new sub-accounts for future expenditures and payments by type of collateral in the Chart of Accounts, the lack of detail which, in turn, does not allow management to meet existing needs in information), development and improvement of primary documents (taking into account the peculiarities of their activities and the feasibility of forming appropriate collateral), as well as to avoid distortion of financial statements, reflect the reduction (write-off) of collateral only in the amount accrued in the reporting year, and if the amount of reduction (write-off) of collateral exceeds such amounts, the amount of excess should be recorded on the debit of the collateral account and the credit of the account of retained earnings (uncovered loss).

Класифікація

Ідентифікатори

Схожі роботи