CAPITAL: ACCOUNTING APPROACH

Based on the analysis of existing scientific approaches to determining the content and classification of capital author's opinion on addressing debating issues related to this category has been substantiated. In particular, a variety of statements about the nature of capital made by representatives of different economic schools and directions was determined, due to different economic conditions, the level of development of economy and society, but all the views on capital at each stage of economic thought are united in one thing: capital is associated with the ability to generate income. Homogeneous components of capital were determined and on their basis it was defined as assets of the company used for its extended reproduction for profit measured by real (fair) value at the reporting date. Classification features of capital based on homogeneous elements were systematized for accounting purposes. It was established that the name of the first section of the balance of liabilities does not match its content. It is advisable to name the first part of liability balance as «Own sources» or «Sources of owners».