IMPROVING THE ACCOUNTING OF GROSS LIABILITIES UNDER CONSTRUCTION CONTRACTS
Abstract
The article is devoted to the study of the procedure for displaying the results of construction contracts on accounting accounts. It was determined that the method of staged performance of works is the basis for accounting for income from construction contracts, according to which, on each reporting date during the entire construction period, unfinished construction works are recognized as income. The Accountancy Provision (Standard) 18 of "Construction Contracts" proposed methods for assessing the degree of completion of construction works. As a result of the use of the method of phased execution of works under construction contracts, new accounting objects arise: gross debt to customers and gross debt to customers, as the difference between the amount of work actually performed on the reporting date under the construction contract and the amount of contract work accepted by the customer. The conducted comparative characteristics of methods for assessing the degree of completion of construction works made it possible to determine their advantages, the main of which is a more accurate assessment of income under construction contracts. The increase in the labor intensity of accounting work due to the need to display gross debts is the main drawback of the methods of assessing the degree of completion of construction works proposed by the national accounting standard. Contradictions and shortcomings of the existing order of accounting records regarding the display of gross debts using accounts 238 "Completed stages of unfinished construction contracts" and 239 "Interim accounts" were revealed: the specified accounts are not intended for accounting settlement operations; the level of labor intensity of accounting works increases; the informativeness of accounting regarding settlements with customers decreases. To overcome these shortcomings, a scheme for displaying gross debts using account 32 "Interim accounts" while preserving the method of phased execution of construction contracts is proposed. Account 32 "Interim accounts" is active, intended for accounting of settlements under construction contracts, if there are differences between invoices issued to the customer for payment and income recognized in the accounting for construction works.
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