FINANCIAL PERFORMANCE: ACCOUNTING, FORMATION, IMPROVEMENT

Accounting of financial results at agricultural enterprises is carried out according to the General accounting rules, taking into account the specifics of their activities regarding the assessment of biological assets and agricultural products on the date of separation from the biological asset and on the balance sheet date. The purpose of the article is to substantiate the the‑ oretical and methodological foundations and practical recommendations for the formation of financial results, the development of the main directions of improving their accounting support in accordance with the requirements of national standards. It is established that the financial results of the enterprise fully depend on the impact of income and expenses that are formed from the acquisition and disposal of assets of the enterprise, taking into account the economic requirements of financial statements users regarding their assessment. It is determined that according to regulations the method of calculation of financial results should be built in accordance with the logical methodology of accounting. The main requirements for the disclosure of items of the Statement of financial results (Statement of comprehensive income) are determined by the Guidelines for completing the financial reporting forms. Methodological principles of accounting revenues and expenditures are governed by P(C)BU15 «In‑ come» and P(s)BU16 «Expenses» respectively. The procedure for recognition of income and expenses and their reflection in the Statement of financial results (Statement of comprehensive income) is schematically presented. Issues of improving the methods of accounting of income and expenses, the formation and reflection of financial results in the reporting is an urgent issue of re‑ search by scientists, accountants, practitioners and analysts. Need for more accurate definition of the category of «income» and «expenses» with respect to the economic content of the displayed business transactions in the course of their normal activities, which are taken into account in the preparation of the Report on financial results (Statement of comprehensive income). In ad‑ dition to the standard forms of primary accounting it is proposed to use a check as a primary document for the costs of respon‑ sibility centers. On the basis of primary documents there is an opportunity to control correctness and legality of the complete facts of economic processes, to carry out the current analysis of economic activity and to establish the reasons of deviations.