Theoretical Aspects of Accounting for Enterprise Financial Results

At all stages of the accounting practice development the calculation of financial result was almost unquestionably recognized as the main purpose of accounting. In modern business conditions, the importance of accounting for the financial result of activities has grown even more, because the magnitude of the financial result determines the possibility of the enterprise further development (expansion of production, updating of its fixed assets, introduction of new advanced technologies) and creates a reserve of financial stability, which gives the enterprise the ability to respond quickly to changes in market conditions. The purpose of the article is to disclose the theoretical foundations of accounting for the enterprise financial results and to improve certain aspects of its organization. The analysis of the main provisions for the accounting of the enterprise financial results, set out in international (IAS 18 'Income') and national (National Accounting Standard 15 'Income', National Accounting Standard 16 'Expenses') accounting standards was carried out. It was determined that the conditions for recognition income in national and international standards are different, which indicates that the standards are not completely identical. The structure of income and expenses on various grounds of classification was disclosed. The structural and logical scheme for calculation the net profit / loss of an enterprise was presented. The analysis of the formation of the financial results of the studied company was conducted. It was revealed that the analysis and structuring of costs and revenues provides clear information for planning the future activities of the enterprise. An approach to the improvement of the chart of accounts of the studied company was proposed, the implementation of which will allow to quickly and more accurately track all the expenses and incomes of the enterprise separately for each type of finished product produced.