ACCOUNTING OWN CAPITAL AND DISPLAY IT IN REPORTING: COMBINATION OF NATIONAL AND INTERNATIONAL EXPERIENCE
Journal Title: ЕКОНОМІЧНИЙ ДИСКУРС - Year 2016, Vol 1, Issue 1
Abstract
Actuality. As a result of the globalization of the national economy towards approximation to the European community there is a need for new means and methods of financial and economic activity of enterprises, adequate to the world practice. The basis of business activity is the creation and use of own capital. This defines the objective necessity of studying of international experience account own capital and displaying it in reporting. Purpose. Study consists of accounting own capital and displaying its components in the financial statements of foreign countries and international standards, to identify inconsistencies of national and international accounting systems and eliminate them. Methods. The research process is carried out using dialectical approach to the study of the current state of accounting and reporting capital of enterprises of domestic and international economy and using methods of knowledge, deduction and abstract logical knowledge – to determine the nature of equity capital as an object of accounting; abstraction and concretization – to improve the structure of own capital; grouping, comparison, generalization – in studying the structure of the domestic and international charts of accounts; graphic - for clear explanations of the study. Results. Combining the experience of foreign countries and domestic practice shows the scheme of the own capital as the object of accounting at international level, namely sharing the primary and accumulated capital. There are some differences in the reflection of and the own capital components on accounts abroad and the national plan, because the foreign practice is most common stock. Comparing the charts of accounts around the world, put forward several proposals for improving the reflection of capital on domestic accounts of the account, including: the bill 43 "Reserve capital" national chart of accounts in enterprises where a capital reserve to allocate the relevant subaccounts to account for the amount of reserves: 431 "Reserve capital prescribed by law "432 "Reserve capital established by statute"; to improve the accounting of share capital in joint stock companies of Ukraine may sub account 401 "Capital" to supplement the analytical accounts of "preferred shares" and "Ordinary shares" to account for the total nominal value of issued ordinary shares, which will help differentiate information about individual parts capital corporations. It is investigated informative report on equity in recent years is coming to the needs of international users. Perspectives research: Integration processes require finding a common "language management" that will enable economic entities to work around the world. Now the process of harmonization of national and international accounting standards. However, through a combination of international and domestic experience there are obstacles related to methodological and organizational features of accounting in Ukraine. These issues require further study and eliminate, to the output of the national economy into the international arena of business.
Authors and Affiliations
Tanya Yakovets
Keywords
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