BUSINESS INFORM №5-2014

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58

Section: Accounting and Auditing
UDC 657.422:657.372.2
Kosata I. A.
Specific Features of Assessment and Accounting of Entering Into Account and Retirement of Reserves That Were Obtained Without Indemnity (p. 327 - 331)
The main goal of the article is analysis of the modern state and identification of main problems that are connected with assessment and accounting of reserves that were obtained without indemnity, and their use and reflection in formation of cost value of the sold products. Pursuant to Provisions (Standards) of Business Accounting No. 9 “Reserves”, the initial cost of reserves that were obtained without indemnity is their fair cost, interpretation of which, pursuant to Provisions (Standards) of Business Accounting No. 19 and Clauses 14.1.71 of the Tax Code of Ukraine, gives a possibility of identification of a fair cost only under conditions of a stable market for a specific type of reserve. In the event this market is not available, there is a problem with identification of the fair cost. In this case, application of provisions of business accounting of reserves of budget institutions is interesting from the author’s point of view. According to it: “The initial cost of reserves obtained without indemnity in cases envisaged by legislation from other institutions, legal entities and physical persons – economic subjects, is equal to the balance cost of reserves of the party that provided them”. In most cases this algorithm significantly simplifies the work of the enterprise accountant. The article also describes the procedure of identification of income from retirement of reserves that were obtained without indemnity. It considers the order of determination of income and expenditures of the enterprise pursuant to Provisions (Standards) of Business Accounting and Tax Code of Ukraine, in the result of which it holds that when reserves are re-sold by the cost of entering into account, it should not be included into income again. In the event the cost of selling is higher than the cost of entering into account, the income should include only the positive difference between the cost of selling and cost of entering. In the event reserves were used in the course of production activity and the finished products are sold, the author believes that the cost of reserves that were obtained without indemnity could be deducted from the income with a view of taxation.
Keywords: reserve assessment, fair cost, reserves obtained without indemnity, reserves accounting
Bibl.: 16.

Kosata Inna A. – Candidate of Sciences (Economics), Associate Professor, Associate Professor, Department of Statistics, Accounting and Auditing, V. N. Karazin Kharkiv National University (4 Svobody Square, Kharkіv, 61022, Ukraine)
Email: [email protected]

Article is written in Ukrainian
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Reference to this article:
Kosata, Inna A. (2014) “Specific Features of Assessment and Accounting of Entering Into Account and Retirement of Reserves That Were Obtained Without Indemnity.” Business Inform 5:327–331.

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