Methodical Aspects of Import Operations Accounting at the Enterprise

In the context of the economy globalization, the topic of accounting and taxation of imports and exports is relevant both in theoretical and practical aspect. On the one hand, the number of enterprises engaged in foreign economic activity is constantly increasing, on the other hand, in practice, the number of unresolved issues arise, in particular in the area of accounting. The purpose of the article is to disclose the methodical bases of accounting for import operations of enterprise. The analysis of the definition of the term "import", contained in domestic legislative acts, was carried out. It was revealed that there are disagreements in the regulatory legal acts concerning the criterion of movement of imported goods across the customs border. The features that affect the accounting of operations for the import of goods, works, and services were disclosed. The import objects were systematized and accounts on which they are displayed were determined. The composition of expenses that form the initial cost of imported goods was determined, taking into account the rules of Incoterms 2010. The methodical bases of accounting the import operation were disclosed in the cause of full prepayment and subsequent payment. It was determined that the method of reflecting the import operation in the accounts depends on the type of imported asset and the terms of payment stipulated by the terms of the foreign economic contract. The initial cost of the imported asset consists of the actual purchase costs incurred. The exchange differences arising from changes in exchange rates are calculated only for monetary assets, and, based on the calculation results, relate to the income or expenses of the enterprise. It was revealed that there is a need to improve the accounting of import operations at various stages of import, as well as during the transfer of risks and benefits associated with the goods that are imported.