English (United Kingdom)

https://curated-unify.zendy.io/wp-json/zendy-region/v1/featured_content/oa?rat=en

https://curated-unify.zendy.io/wp-json/zendy-region/v1/highlighted_journal/

Global: Zendy Plus annual

Presents the access of premium content as premium feature

Premium Content

Presents the keyphrase highlighting as premium feature

Keyphrase Highlighting

Presents the summarisation as premium feature

Summarisation

Insights

Presents the pdf analysis as premium feature

PDF Analysis

Presents the zaia usage as premium feature

ZAIA

Global: Zendy Tools annual

Global: Zendy Free Plan

Global: Zendy Tools monthly

Global: Zendy Plus monthly

This paper explores the impact of provisions of future costs and payments on the assessment of the financial position and financial results of performance in the case of oil and gas companies. Those provision, which charges are provided by the accounting systems of standardization (both Ukrainian Accounting standards and IFRS), are related to the obligations of the enterprise, and therefore directly affect the evaluation results of financial condition of the enterprise. On the other hand, the creation of provisions, in most cases, leads to increased operating costs, which, in turn, worsens the company's financial results. In the period of use of provisions such impact on the results does no longer exist. Therefore, it is concluded that managers should approach very carefully to the issue of provision for enterprise. For this purpose, the preconditions, need for formation and consequences of creation of provision for the enterprise have been analyzed. The study results of the peculiarities of information disclosure about the available provisions in the financial statements of the Ukrainian oil and gas enterprises are presented. It is indicated on the characteristic differences between provisions and other types of obligations, namely, actual obligations to counteragents, as well as conditional obligations. It is substantiated that, unlike provisions, conditional obligations do not have a visible effect on the financial position and financial performance of enterprises. According to the results of the study, the criteria were formulated, maintenance of which allowed to establish the necessity of charging provisions in the reporting period.

Research on economic content of provisions of future costs and payments and their impact on financial position and financial results of the enterprise activity