ACCOUNTING AND ANALYSIS: PROSPECTS FOR SMALL BUSINESS

Abstract

The purpose of the article is to consider the problematic issues of accounting in the field of small and medium business, as well as formed proposals for possible solutions. The main conclusion is made about the need for separate accounting practice and its basic postulates, which include certain concepts, content and scope of accounting for internal management of enterprises, methods of accounting and auditing. Small business is the locomotive of the regional economy. Competent organization of accounting and analysis in small businesses allows them to operate efficiently and mobile in a competitive environment. The main problem is to find the best version of the accounting and analytical system for small businesses. Domestic small business in modern economic realities should become a locomotive for the regional economy. It is small businesses that are able to respond quickly to market conditions, ensuring consumer demand for goods and services and at the same time solving the problem of employment of the working population. For the proper functioning of any market link economy, it is essential that participants, when making decisions, have truthful and objective information about property, financial and financial condition, results of work – profits, income or losses, as well as the features of their achievement (based on preliminary data) as in their enterprise, and partners. Such information is provided only by the accounting system. Accounting is used in all areas of business – production, commercial, banking, insurance, in all industries and subsectors –- industry, agriculture, construction and more. In each sphere (type) of activity, in each branch of management accounting has specific features. However, the initial provisions of accounting are the same, common to all activities and in all sectors of the economy. Accounting as an information system is divided into open, such that can be published, and closed, which is a trade secret of the enterprise. The first forms the concept of financial accounting, the second – internal (managerial, production) accounting. As for the initial provisions, they are common, common to both financial and internal accounting.