ACCOUNTING, ANALYSIS AND AUDIT OF REFUNDABLE FINANCIAL ASSISTANCE AT THE ENTERPRISES OF MOTOR TRANSPORT

Abstract

The article is devoted to topical issues of accounting, analysis and audit of repayable financial assistance in road transport enterprises. The purpose of the article is to summarize the approaches to the essence of financial assistance as an object of accounting, analysis and audit; improving the methodology for reflecting transactions related to obtaining financial assistance in accounting accounts; developing areas for improving audit and analysis. In our opinion, repayable financial assistance is a type of fixed-term loan agreement, the subject of which is cash or non-cash money, for the use of which no interest or other compensation is charged, and is mandatory for repayment. This definition does not contradict paragraph 14.1.257 of the Tax Code of Ukraine. Systematized approaches to accounting for lenders and borrowers for different groups of counterparties (legal entities, natural persons-entrepreneurs and natural persons). It is also necessary to pay attention to the status of the lender in relation to the chosen system of taxation (general or simplified) and the term of financial assistance (up to 1 year or more). The issue of discounting on short-term and long-term repayable financial liability obligations is considered. Emphasis is placed on tax accounting, analysis and audit of financial assistance. Discounting of long-term repayable financial assistance is carried out in the case of specifying the repayment period in the loan agreement. Then the following actions are performed: 1) on the date of receipt of the loan determine the present (fair) value of the obligation; 2) the amount of the discount (the difference between future and present value of the obligation) is included in income 3) amortization of the discount is written off gradually over the term of the loan. The main purpose of the analysis of repayable financial assistance is to determine its composition and structure, absolute and relative deviation, growth rate (decrease) and so on. It is determined that the unresolved problem remains the discrepancy in the assessment of repayable financial assistance in international and national accounting standards.