
IMPROVEMENT OF DOCUMENTATION OF RESERVES AND SECURITIES IN THE SYSTEM OF ENTERPRISE ACCOUNTING
Author(s) -
Оleh Karyy,
Natalia Voskalo
Publication year - 2021
Publication title -
ìnfrastruktura rinku
Language(s) - English
Resource type - Journals
ISSN - 2519-2868
DOI - 10.32843/infrastruct54-40
Subject(s) - collateral , business , balance sheet , finance , accounting , debt
Law requires the creation of securities and reserves for most companies. The formation of reserve capital is mandatory for joint-stock companies in the amount of not less than 15% of the authorized capital, and for limited and additional liability companies - in the amount of the contribution of the participant who decided to withdraw from the company. Large and medium-sized enterprises are required to create the securities and reserve of doubtful debts, as well as small enterprises in the case when they are under the general system of taxation. The dynamics of the formation of reserves and securities shows a decline in 2015, and in subsequent years - their growth. Reserves and securities are reflected not only in different sections, but also in different parts in the balance sheet: the reserves for doubtful debts are in the asset as a regulation of receivables, and reserve capital and collateral - in liabilities, even though by their economic nature all their components are directly related to retained earnings, i.e. equity. The process of documenting the creation and use of reserves and securities is not regulated by any mandatory document. For its implementation, the forms of primary documents are proposed, which meet the requirements for documenting business transactions of accounting and provide all the necessary indicators for their calculation following the requirements of national standards. For business entities that sell goods with a quality guarantee, there is a need to create collateral for warranty repair. To form it, it is necessary to analyze the total value of returned goods in the total sale value for the reporting period. Warranty repairs can be of different cost and frequency, depending on the type of parts that have lost their suitability. Therefore, to form collateral for warranty repairs, it is advisable to develop a classification of types of repairs, taking into account their frequency and cost. It is expedient to form collateral for warranty repairs according to the nomenclature of sold products, as different goods require different, both in time and in the cost, warranty services. The proposed primary documents are the basis for determining transactions with reserves and securities in accounting, their further evaluation, and generalization in reporting.