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FEATURES OF CLASSIFICATION AND ACCOUNTING OF FINANCIAL INVESTMENTS
Koval N.
candidate of economic sciences, associate professor of the Department of Accounting and Taxation in Sectors of the Economy, Vinnytsia National Agrarian University
Vinnytsia
Abstract
In the article basic component classifications are certain and to the account of financial investments of activity of agrarian enterprises that will assist the improvement of their vital functions. The financial investing is the process of providing of increase of capital of investor due to operations security-related and corporate laws different from securities. The accounting classification of financial investments is systematized and the need for its improvement by supplementing investment objects in accordance with generally accepted groups of securities is determined. The main classification features of investments, storage of investment and financial activities of agricultural enterprises for the purposes of accounting are determined. The results of the study are the basis for further development of theoretical and methodological principles of accounting for investment activities of the enterprise, taking into account its modern features.
Keywords: accounting, financial resources, financial investments, principles of investment resources, nor-matively regulated accounting policy.
For functioning of agrarian enterprises in modern terms important is investment activity, as one of constituents of economic mechanism, that embraces the processes of forming and use of investment and financial resources, support of strategy of development.
The need to strengthen the investment activities of enterprises is caused by the processes of reforming the domestic economy in terms of enterprise management, adaptation to the EU external environment. Thus important is the registration providing of investment activity. The proper forming of information, search of new methods of her reflection will allow to improve quality management investment and financial resources, competitiveness, profitability, financial firmness of agrarian enterprises [3].
A ponderable contribution to research of problems of determination and account of financial investments was done by such home scientists, as: M. I. Bondar [1], M.A. Bolyukh, E.F. Brigham [2], F.F. Butynets, S.F. Holov, Ya.V. Golubka, N.V. Gordopolova, V.P. Zavgorodniy, Ya.P. Ishchenko [3], A.G. Kovalenko, N.L. Pravdyuk [6], O.A. Podolyanchuk [3], N.I. Koval [4], O.O. Lyubar [5], D.M. Chervanev [7].
National legislation in the field of investment regulation declares the protection of investments and promotion of investment, establishing state guarantees for
the protection of foreign investments, exemption of foreign investors from paying import duties on goods imported into the customs territory of Ukraine.
Today in Ukraine investment activity is regulated by such normatively-legal acts: by Laws of Ukraine «On investment activity», «About the mode of the foreign investing», «About defence of foreign investments in Ukraine», «About foreign economic activity», «About the institutes of the general investing», by Resolutions of Cabinet of Ministers of Ukraine «About claim of Statute about the order of state registration of agreements (contracts) on joint activity with participation of foreign investor» and others [3].
Instability of economy causes high pronKOBamcTb of economic activity, and thus, arise up threat to financial safety in agricultural enterprises [8].
Methodological bases of formation in accounting of the information on financial investments and its disclosure in the financial reporting are regulated by Provisions (standard) of accounting 12 «Financial investments».
According to Provisions (standard) of accounting 12 «Financial investments», financial investments are assets held by an enterprise for the purpose of increasing profits through interest, dividends, etc., increasing the cost of capital or obtaining other benefits
for the investor [8].
Under the Law of Ukraine «On investment activity» of investment determined as all types of property and intellectual values, that is laid in the objects of entrepreneurial activity as a result of that an income can be got or it is attained social effect [9].
Such values can be: money, having a special purpose bank holding, shares, shares of stock and other securities; personal and immobile chattels (houses, building, equipments and other material values);
property rights that swim out from a copyright, experience and other intellectual values; totality of the technical, commercial and other knowledge, executed as technical documentation, skills and productive experience, necessary for organization of that or other type of production, but unpatented («now-how»); rights for using earth, by water, resources, houses, building, equipment, and also other property rights; other values, (Fig. 1).
Types of property and intellectual property that are invested in business
objects
money, having a special purpose bank holding, shares, shares of stock and other securities
personal and immobile chattels (houses, building, equipments and other material values)
property rights that swim out from a copyright experience and other intellectual values
totality of the technical commercial and other knowledge, executed as technical documentation, skills and productive experience, necessary for organization of that or other type of production, but unpatented («now-how»)
rights for using earth, by water, resources, houses, building, equipment, and also other property rights
other values
Fig. 1. - Types of values that is certain as investments Source: formed by the author
With deepening of processes of economic reforms, as researchers of T. E. Belyalov, N. I. Koval [4], the necessity of search of variants of forming and improvement of market relations and ways of the effective including of country aKTyam3yeTbca for the system of world economy.
The main criterion of efficiency here is a receipt of maximal effect for minimizations of economic and social charges of society. For this purpose necessary is creation of effective mechanisms of distribution of factors of production, including investment and financial, improvement of legal forms and mutual relations of subjects of economic activity, removal of internal and external obstacles of activity, that are reasons of socio-economic tension both in the state, -on the whole and on separate enterprises.
Traditional for home practice that functioning of enterprise is accompanied by the continuous rotation of money, according to the postulates of political economy and marxist theory, that comes true in the forms of charges of resources and receipt of profits, their distribution and use, as other researchers underline, in particular, N. L .Pravdyuk, Ya. P. Ishchenko, N. I. Koval, O.O. Lyubar [3; 4; 5; 6].
The object of research is to determine the sources of funds, their structure, directions and forms of
financing, capital structure, settlements with market counterparties: suppliers of material and technical resources, buyers of products, government agencies for tax payment, financing, owners and employees, etc.
Investment activity of enterprises is one of the most complex and risky types of business. Its results significantly affect the efficiency of entrepreneurship in general. Significant factors slowing down the development of such activities in Ukraine include: insufficient economic efficiency of investment projects, low investment resources of agricultural enterprises, which prevents such activities at a high level, difficulties in attracting investment due to low investment attractiveness of enterprises, weak state protection of investors' capital, lack of market infrastructure and effective mechanisms for investment and financial activities, investment and capital gains by financial methods and instruments.
The most important condition for more complete involvement of external and internal investment resources is the full disclosure of information about financial processes in operational and accounting, financial reporting [4].
Depending on the purpose of the financial investment, the company may receive income, gain control over the object of investment and have other
benefits.
Investment income is the receipt of interest or dividends. Influence is carried out for the purpose of obtaining intangible benefits - access to technology or goodwill owned by the enterprise-object of investment, the impact on its financial, commercial and economic activities. Also, it can have strategic stocks of raw materials needed by the investor, or be in an investment-attractive economic environment and so on. Investments can also be made to obtain future benefits, such as an increase in the value of shares.
It exists and something the narrowed understanding of investments, when investments are examined from position of streams of payments. From such point of view under investments understand all charges (or them money equivalent) constrained with the use of capital (iмо6imзацw, ypeneB^eHHa of free capital). More narrow understanding of investments includes an object and terms of iMo6im3a^i' capital, that in such case come forward as a criterion of classification of investments.
Depending on a term during that an enterprise expects to own financial investments, they are divided
into current and long-term.
Long-term are investments on a period longer than one year.
Current - investments for a period not exceeding 1 year, which can be freely realized in any moment (except for investments that are equivalent to cash costs).
Cash equivalents are short-term, highly liquid financial investments that are freely convertible to cash and that are subject to an insignificant risk of changes in value.
Investments are the purposeful use of capital, the classification of which is shown in (Fig. 2).
The subjects of investment activity are investors, customers, contractors, users of investment objects, as well as suppliers, any subjects of business and financial activities - banking, insurance and intermediary institutions. Investment entities can also be individuals and legal entities (including foreign ones), as well as states and international organizations. In addition, investment entities may combine the functions of two or more entities. Relations between investment entities are based on agreements [9].
Fig. 2. - The main classification features of investments Source: formed by the author
The investor is the main subject of investment activity, which invests its own, borrowed and / or attracted funds in the form of investments. Investors can be individuals and legal entities; associations of legal entities that are created on the basis of an agreement on joint activities and which do not have the status of a legal entity; government agencies; local governments; foreign business entities.
Taking into account the direction of the main economic activity, investors are divided into individual and institutional.
An individual investor is a natural or legal person who invests in the form of investments for the development of production and economic activities.
An institutional investor is a financial intermediary that accumulates funds of individual
investors and carries out investment activities. Institutional investors are represented by investment companies, investment funds, which usually specialize in securities transactions.
After the aims of investing, that put before itself investors, distinguish strategic and portfolio investments. First during realization of investments, acquisitions of controlling interest or repressing stake of charter capital of other enterprise have for an object for the receipt of possibility of independent management by him. A portfolio investor inlays money in the various objects of investing with the aim of receipt of profit or capital augmentation.
All investors have equal rights on realization of investment activity in any form; possession, use and disposing of objects of investing; independent
determination of volumes and directions of investments; bringing in is on contractual, mainly on competitive, to basis of other subjects of investment activity; realization of control is after the having a special purpose use of money that is invested; an association of the personal and attracted funds is with money of other investors for realization of the general investing.
Other subject of investment activity is a customer. Customers can be investors (authorized mediators) that carry out realization of investment projects, not interfering here in entrepreneurial and other activity of other subjects of investment activity, if other is not envisaged by an agreement between them [9].
By the primary purpose of forming of investment resources of enterprise, id est all types of financial and other assets, that is attracted with the aim of realization of investments in the objects of investing, there are satisfaction of requirements in acquisition of necessary investment assets and optimization of their structure from positions of providing of effective results of investment activity
Taking into account this aim the process of forming of investment resources must be based on such principles [10]:
> principle of taking into account of prospects of development of investment activity. In the process of forming of volumes and structure of investment resources it costs to take into account all stages of investment process;
> principle of providing of accordance of volume of the attracted investment resources of volume of investment necessities of enterprise. A general requirement in the investment resources of enterprise is based on settling of general volumes of the real and financial investing;
> principle of providing of optimal structure of investment resources is from positions of effective investment activity. The terms of forming of high endpoint of investment activity depend on the structure of the formed investment resources. An optimal structure provides the financial equilibrium of development of enterprise in the process of realization of investment activity, however, a nonoptimal structure generates risks in the financial sphere of enterprise, id est it results in bankruptcy of enterprise;
> principle of providing of minimization of charges of forming of investment resources is from different sources. Such minimization of charges comes true in the process of management of capital that is attracted for investment activity with the aim of receipt of maximal sum of net income a cost;
> principle of providing of the high-efficiency use of investment resources is in the process of investment activity. Investment resources that temporally is not used can lose the cost in course of time, that is why forming investment resources costs with taking into account of inflation and other factors that will influence on a cost during the term of realization of investment activity rates.
All types of investment activity of managing subjects come true due to mouldable by them investment resources. In an order to carry out investing in some area of economy, it is needed to have money. They are named the sourcings of investments. Lyubar О.О. marks that in economic literature at the analysis of sourcings of investments distinguish the internal (personal funds) and external sources of investing (debt and attracted funds) [5].
At the choice of that or other sourcing of long-term investments, whether that external whether that internal sources, it is needed to nurse the achievement of most economic effect after a necessity. The choice of source of coverage of investment necessities, influencing on investment activity, allows to the agricultural enterprises to influence on the structure of passive voices, degree of risk of investment activity etc.
For the aims of taxation, according to the legal adjusting of principles of investment activity in Ukraine that comes true by Law of Ukraine «On investment activity» and Internal revenue code of Ukraine [9; 11], investments are divided into financial, capital and reinvestments. In a record-keeping to the investment divided only into financial and capital. For the stowage of the financial reporting distinguish long-term and current financial investments.
In turn, long-term financial investments are divided into: investments to the constrained parties after the method of participating in a capital, other investments to the constrained parties and investment to the unrelated parties. Current financial investments include for itself the equivalents of monetary resources, but clear distribution does not exist between the equivalents of monetary resources and other current investments. Yes, according to National Regulation (Standard) on Accounting 1 «General Financial Reporting Requirements» [12], equivalents of monetary resources are short-term високол^вдш financial investments that is freely converted in the certain amounts of money moneys and that is characterized by the insignificant risk of change of them.
In general, the organization of registration of investment and financial activities in agricultural enterprises is based on typical approaches to these activities, as shown in Fig. 3.
An enterprise determines differentiation of investments, on what specifies О. B. Dorosh., H.I. Koval [4], in Order about registration politics. Thus, considerable part of objects of account of financial activity of agrarian enterprises depends on креативного approach, abandoning at discretion of bookkeeping attributing of them to the types of activity (in this case, investment or financial). It, in turn, causes the unclearness of classification at determination of essence of economic processes and their reflection in an account and accounting.
Long-term financial investments are financial investments for a period of more than one year, as well as all investments that cannot be freely realized at any time [9].
Fig. 3. - Constituents of investment and financial dinMbnocmeu of agrarian enterprises are for the aims of
organization of record-keeping
Source: [4]
Long-term financial investments are financial investments for a period of more than one year, as well as all investments that cannot be freely realized at any time [9].
The process of organizing the accounting of long-term investments and sources of their financing is time consuming and depends on the specifics of the enterprise, the chosen accounting policy, which must meet the requirements of applicable law and help increase investment attractiveness.
The aim of record-keeping of long-term investments and sources of their financing consists in providing of objective estimation, timely logining and complete reflection in the registration registers of operations, related to the long-term investments and sources of their financing, by possibility of generalization of information about such operations in accounting with the aim of providing of informative necessities of the interested persons, and also with an order them internal audit and analysis with the aim of doing possible increase efficiency investment activity
enterprise
Therefore, the organization of accounting for financial investments and sources of their financing will be as follows (Fig. 4).
Normatively well-regulated registration politics helps the conduct of economic businesses on an agricultural enterprise and gives an opportunity to the investors and proprietors correctly and in good time to understand both processes that take place during economic activity and results as a result of her realization.
By forming of registration politics in part of long-term investments and sources of their financing it is necessary to overcome all her constituents. A theoretical constituent must expose principles of organization of account of long-term investments and sources of their financing according to operating legislative documents. It is thus important to pay attention to obligatory observance of separate principles of record-keeping by law Ukraine «About a record-keeping and financial reporting in Ukraine», namely [13]:
Source: [5]
Fig. 4. - Basic component organizations book-keeping financial investments
- complete illumination. The necessity of opening of information determines for financial statements, coming from that her absence or erroneous reflection can influence on the result of realization of these decisions. A grant to the investor of complete, true information assists the acceptance of effective administrative decisions and gives possibility to estimate future benefits or losses from investment investments;
- to continuity. A managerial staff, investors and proprietors, is interested to get reliable state information, cost of assets and obligations of enterprise in part of investment activity for the acceptance of effective decisions;
- accrual. Recognition and recognition of income and expenses from long-term investments is a problematic area in accounting, as the implementation of accounting transactions with long-term investments depends on the purpose of their acquisition, type, retention period and so on. An example is the acquisition of long-term investments at a price lower or higher than their nominal value (premium or discount) with the gradual reflection of income or expenses and bringing the investment to its nominal value.
The methodological component is to establish the procedure for obtaining, registering, accumulating and summarizing information on long-term investments, the procedure for determining the initial cost, methods of subsequent valuation of the object of accounting depending on the type and method of receipt, the procedure for determining depreciated cost, their write-off, provides a description of the methodology of inventory, the choice of accounts to reflect transactions with the object of accounting [5].
The technological component involves approval of the Chart of Accounts, choice of accounting form, development and approval of standard forms of primary documents for long-term investments, approval of the document flow schedule, internal reporting forms, determination of the procedure and deadlines for reporting long-term investment transactions to users. conducting an internal audit, the composition of the commission for internal control, determining the timing and duration of inspections.
An organizational constituent shows a soba establishment of list of persons, accountable for a reflection in the account of operations with long-term investments, development of post instructions and internal standards. Duties on registering of long-term investments on many enterprises fully lay on a chief accountant that through the large volume of work is not
able in a complete measure to be concentrated on the concrete object of account. Long-term investments are the difficult object of account, that is why processes of collection, registration, accumulation and generalization of information, providing of the exact settling on operations with long-term investments must carry out and control separate accountant of subdivision [5;9].
An important step in the organization of accounting for long-term investments is their valuation, which is carried out by different methods depending on the method of acquisition (at cost), at the balance sheet date - at revalued value (fair, amortized cost) and disposal - net realizable value ( at identified cost, weighted average cost, FIFO method) [5].
Documentation of business transactions - elements of the method of accounting, which exist in the observation and reflection of information about business transactions in the documents confirming their implementation.
The result of the process of documenting business transactions is a document. The role of documents cannot be underestimated, as they are both a permit, a basis for economic activity, and a legal proof of its implementation.
According to the current legislation, primary documents in Ukraine can be drawn up on: standard forms approved by orders of the State Statistics Committee of Ukraine; forms of specialized forms approved by orders of the relevant ministries and departments of Ukraine; strict reporting forms in cases established by law, as well as by the relevant state authorities of Ukraine; forms of documents developed by the company itself, provided that they have the required details.
That is, in Ukraine they are developed and approved at the state level. At the same time, the international standards of accounting and financial reporting do not say anything about the standardization of forms of primary documents, which is their advantage in this matter.
In the new terms of modern informative economy considerably requirements change to documenting. The present in Ukraine forms of documents already can not fully satisfy the requirement of managing subjects in concrete, to the maximally optimized and operative information, as their considerable part is formed in the conditions of passing to the market conditions [5].
Primary documents for reflection in the accounting of long-term financial investments are presented in table 1.
Table 1
Primary documents to reflect in the accounting of long-term financial investments
№ з/п Name of document Typical form code Person that folds Person that signs
1 Contract of sale - Manager Manager, Chief accountant
2 Profitable cash warrant CW-1 Chief accountant Chief accountant, cashier
3 Expense cash warrant CW-2 Cashier Chief accountant, manager, cashier
4 Invoice - Chief accountant Chief Accountant, manager, the person who accepted and transferred the invoice
5 Payment - Payer, buyer Manager, Chief accountant
6 Extract of bank - Cashier Cashier, payer
7 Act of acceptance -transfer of fixed assets ATFA-1 Chief Accountant Members of the commission
8 Accounting certificate Chief accountant, accountant Chief accountant, accountant
9 Accounting calculation - Chief accountant, accountant Chief accountant, accountant
Upon receipt of documents in the accounting department of the enterprise, their verification is carried out.
Formal involves checking the correctness of filling in all the details, compliance with the standard and form of the document, the timeliness of preparation and transmission to the accounting department.
The content involves checking the compliance of the business transaction with current legislation, the company's charter and the interests of owners.
Arithmetic involves checking the correctness of the application of prices and tariffs and the calculation of amounts.
The process of treatment in the book-keeping of enterprise of the documents taken over performers
includes three stages:
1 stage rate (fixing the price). Consists in pointing in the corresponding columns of документа price and sum for translation of natural and labour measuring devices in money;
2 stages of grouping. Consists in the association of homogeneous on maintenance primary documents in totality with the aim of preparation of the erected data and simplification of conduct of primary account;
3 stages are book-keeping realization. Envisages pointing in the primary or erected documents of correspondence [3; 4; 5;].
When making capital investments for the acquisition of fixed assets in accounting, the company uses the following primary documents (Fig. 5).
Fig. 5. - Organization ofprimary accounting of capital investments in the acquisition offixed assets in
agricultural enterprises
Source: [4; 5]
From the moment of their stowage or receipt from other enterprises to the transmission in an archive on storage documents pass a certain way, the timeliness of working of documents and authenticity of the indexes of the financial reporting formed in an account depend on quality of organization of passing of that.
The order of movement of documents from the moment of their drawing up or receipt from other enterprises to transfer to archive for storage is called
document circulation. The shorter the document paths, the faster users (internal and external) will be able to get the information they need to make decisions.
Each company determines the directions and volumes of document flows independently, taking into account the specifics of management and the structure of the management staff.
The information recorded in the primary docu-
ments at the enterprises on the technology of the accounting process is subject to further registration and classification in order to systematize it so that it eventually becomes a separate item of the balance sheet of the business entity [4].
Methodical recommendations on the use of registers of journal-order form of accounting for agricultural enterprises № 390 established the maintenance of synthetic accounting of capital investments in the Journal-order № 4B agriculture and analytical - in the statement № 4.8. Agriculture. But this statement does not fully satisfy the requirements of users, because for operational management information it is necessary to introduce information specification of the relevant sub-accounts of the third order of account 15 «Capital investments». Journal № 4B agriculture is provided for conducting synthetic accounting of long-term financial investments. The register of analytical accounting of long-term financial investments is the statement № 4.9 agriculture. [3].
Any classification is built on certain signs. Classification of object is impossible without knowledge about his essence. For this reason for the correct construction of classification of financial investments a large value has description of types of securities, that mostly and become the object of acquisition and reflection on accounts 14 the «Long-term financial investments» and 35 the «Current financial investments». It should be noted that not all of these securities are financial investments, except that they cannot be included:
- treasury shares repurchased by joint-stock companies in shareholders for subsequent resale or cancellation;
- bills of exchange issued to the enterprise-bill issuer to the enterprise-sellers in settlements for the sold goods, performed works, rendered services.
Account 14 «Long-term financial investments» is used to account for long-term financial investments. The account is designed to summarize information on the availability and movement of long-term investments in securities of other enterprises, government and local bonds, authorized capital of other enterprises established in Ukraine and abroad, etc.
Account 14 «Long-term financial investments» has the following sub-accounts: 141 «Investments to related parties by the method of accounting for equity participation»; 142 «Other investments to related parties»; 143 «Investments to unrelated parties» [3; 5; 9; 12].
The analytical accounting is conducted after the types of long-term financial investments and objects of investing.
The debit of account 14 reflects the value of purchased long-term financial investments, credit - their disposal, decrease in value, as well as dividends, if the accounting is carried out by the method of equity participation.
Financial investments in associates, subsidiaries and joint ventures are accounted for using the equity method. This is a method of accounting for financial investments, according to which the book value of investments increases or decreases depending on the financial performance of the investee and the investor's share.
Particular attention when accounting for long-term financial investments should be paid to the correctness of the data of the transaction in the forms of financial statements.
According to National Regulation (Standard) on Accounting 1 «General Financial Reporting Requirements» the annual financial statements of the entity operating in the general system of taxation, includes [3; 5; 12]: Balance Sheet (Statement of financial position) - a report on the financial condition of the enterprise, which reflects at a certain date its assets, liabilities and equity; Statement of financial performance (Statement of comprehensive income) -statement of income, expenses, financial results and total income; Cash flow statement - a report that reflects the receipt and disposal of cash (cash) during the reporting period as a result of operating, investing and financing activities; Equity statement - a report that reflects changes in the equity of the enterprise during the reporting period; Notes to the financial statements -a set of indicators and explanations that provide detail and validity of the financial statements, as well as other information, the disclosure of which is provided by the relevant national regulations (standards) of accounting or International Financial Reporting Standards.
Accounting information on the state of investment activity (Table 2) is reflected in the Balance Sheet (Statement of financial position) and in the Notes to the financial statements.
The Balance Sheet discloses information on long-term investments according to the general principles of distribution of economic assets (assets) of business entities into current and non-current and capital investments, and the Notes to the financial statements provide information on the structure of long-term investments [3; 5; 12].
To account for current financial investments, account 35 «Current financial investments» is assigned, which has the following sub-accounts:
351 «Cash equivalents»;
352 «Other current financial investments».
The debit of account 35 «Current financial investments» reflects the acquisition (receipt) of cash equivalents and current financial investments, the credit - a decrease in their value and disposal.
The debit balance reflects the fair value of financial investments at the balance sheet date. The amount of the decrease in the carrying amount of financial investments whose fair value cannot be reliably determined due to impairment is included in other expenses.
Table 2
Procedure for disclosing accounting information about long-term investments in the balance sheet (Statement of
Kind of investment Article Line code Chart of accounts
Balance Sheet (Statement of Financial Position)
-ÍS § ! > Uncompleted capital investments 1005 151 «Capital building» 152 «Acquisitions (making) of the fixed assets» 153 «Acquisitions (making) of other inconvertible material assets» 154 «Acquisitions (creation) of non-material assets» 155 «Acquisition (growing) of long-term biological assets»
£ r8- Notes to the financial statements
Capital building 280 151 «Capital building»
<Ü Acquisitions (making) of the fixed assets 290 152 «Acquisitions (making) of the fixed assets
Acquisitions (making) of other inconvertible material assets 300 153 «Acquisitions (making) of other inconvertible material assets»»
Acquisitions (creation) of non-material assets 310 154 «Acquisitions (creation) of non-material assets»
Acquisition (growing) of long-term biological as 320 155 «Acquisition (growing) of long-term biological assets»
Balance sheet (Statement of financial position)
«Long-term financial investments that is taken into account after the method of participating in the capital of other enterprises» 1030 141 «Investments using the parties for the method of accounting for equity participation»
-S3 § ! > «Long-term financial investments: other financial investments» 1035 142 «Other investments in related parties» 143 «Investments in related parties»
s •"■a « •"■a y Notes to the financial statements
s « * Financial investments after the method of participating in a capital in: 141 «Investments using the
g associated enterprises 350 parties for the method of
associated companies 360 accounting for equity
S? joint activity 370 participation»
Other financial investments in:
Parts and shares are in the charter capital of other enterprises 380 142 «Other investments in related parties»
shares 390 143 «Investments in related
bonds 400 parties»
others 410
Balance Sheet (Statement of Financial Position)
Notes to the financial statements
Source: [3; 5]
The debit balance reflects the fair value of financial investments at the balance sheet date. The amount of the decrease in the carrying amount of financial investments whose fair value cannot be reliably determined due to impairment is included in other expenses.
Synthetic accounting of transactions on account 35 is conducted in Journal 4 (Section II) and Statement
4.2.
Magazine 4 has two sections. Section I indicates the amount of turnover on credit accounts: 10 «Fixed assets», 11 «Other non-current tangible assets», 12 «Intangible assets», 13 «Depreciation (amortization) of non-current assets». Section II indicates the amount of
turnover on the credit of accounts 14 «Long-term financial investments», 15 «Capital investments», 35 «Current financial investments» and sub-account 184 «Other non-current assets». Information is opened in this journal, which provides information on the balance at the beginning and end of the period and turnover on debit and credit of individual accounts: in Statement 4.1 - account 15; in Statement 4.2 - accounts 14 and 35; in Statement 4.3 - account 12.
Debit turnovers of accounts that are reported in this journal but not reflected in the statements are noted in other journals.
Ensuring the development of domestic business requires finding additional sources of funding, which can be solved through financial investment. Under these circumstances, the role of accounting as an information subsystem of investment activities of the enterprise increases, the need for the formation of an effective and, at the same time, simplified mechanism of accounting for financial investments and disclosure of these data in the financial statements of enterprises.
Also the worked out classification of financial investments became a result undertaken a study on the basis of the considered approaches. The offered classification gives the detailed information about present in enterprises investments, and also allows clearly to fix any changes in their structure. A significant part of the objects of accounting for the financial activities of agricultural enterprises depends on the creative approach, leaving to the discretion of the accounting department their classification as activities (in this case, investment or financial). This, in turn, causes a vagueness of classification in determining the nature of economic processes and their reflection in accounting and reporting.
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PERSONNEL MANAGEMENT OF A CONSTRUCTION COMPANY IN MODERN CONDITIONS
Novykova I.
Doctor of Economics, Professor, Head of the Department of Economics and Management VSP "Institute of Innovation Education Kiev University of Budivnstva and Architecture "
Kushyk-Strelnikov Y.
Lecturer of the Department of Economics and Management VSP "Institute of Innovation Education Kiev University of Budivnstva and Architecture "
Abstract
This article discusses the features of construction that affect the process of personnel management in construction organizations. The differences in the organization of the construction process from the production process in other industries are revealed. The trends in the labor market in construction are shown. It is concluded that the personnel management system of a modern construction organization should take into account the specifics of the
