IMPROVEMENT OF THE INCOME ACCOUNTING SYSTEM OF WOODWORKING ENTERPRISES IN THE CONDITIONS OF ECONOMIC TRANSFORMATION

Abstract

Introduction. The modern development of the economy is accompanied by deepening transformations that affect both the institutional foundations of the activities of business entities and the methodology for forming their financial results. In the current instability, the need to improve the system of accounting for enterprise income is of particular importance. Income serves as a key indicator of the effectiveness of economic activity and forms the basis for determining financial results, tax obligations and making management decisions at different levels of the economic system.

The need to harmonize national legislation with international financial reporting standards has a significant impact on the formation of a modern revenue accounting model in Ukraine. This process is accompanied by a revision of established approaches to the recognition, measurement, and classification of revenue, which, in turn, leads to the emergence of a number of methodological and applied problems.

Special attention is required to study the industry aspects of the organization of income accounting, since the specifics of production processes directly affect the order of their formation and reflection in reporting. In this context, the woodworking industry is of significant scientific and practical interest, which is due to the complex multi-stage structure of production, the presence of intermediate products and the possibility of obtaining income at different stages of the technological process. These features require deepening analytical accounting and the development of adequate tools for information management.

Purpose. The purpose of the article is to study conceptual approaches to the interpretation of the term "income", to develop proposals for the classification of enterprise income, taking into account modern transformations of the economic environment and the industry specifics of their activities, as well as to substantiate practical recommendations for improving analytical accounting of income at enterprises in the woodworking industry.

Materials and methods. The materials of the study were: 1) domestic and international regulatory legal acts regulating the accounting of enterprise income; 2) works of scientists who conducted scientific and practical research in the field of accounting for income.

In the process of the study, the following scientific methods were used: theoretical generalization and comparison (to clarify the economic essence and reveal the content of income as an economic category); causality and abstract-logical (to improve the classification of income); analysis and synthesis (to develop proposals for improving approaches to reflecting information on the income of business entities in accounting); logical generalization of results (to formulation of research conclusions).

Results. The article summarizes the theoretical, methodological and applied aspects of accounting for enterprise income in the context of the transformation of the economic environment. Based on a comparative analysis of national accounting regulations (standards) and international financial reporting standards, methodological differences in approaches to the recognition and assessment of income have been identified. The economic essence of the category of "income" has been clarified from the standpoint of a systemic approach, which allows us to consider them not only as a result of activity, but also as a tool of strategic management, focusing on the decisive role of management decisions in the process of their formation.

The industry-specific nature of the organization of income accounting at woodworking enterprises is substantiated, due to the multi-stage nature of production and the presence of intermediate products, which requires an increased level of analytical accounting information. This, in turn, led to the development of proposals for improving the classification of income, according to which recommendations were provided for woodworking enterprises regarding the detailing of information reflected in account 70 "Revenue from sales" in terms of technological stages and types of products. Such an approach will ensure transparency in the formation of income and expand the possibilities of monitoring the effectiveness of the business entity's activities.

Discussion. In our opinion, it is advisable to link the prospects of further scientific research with the features of displaying information on the income of enterprises in the woodworking industry in the forms of financial and internal reporting. This will allow improving the methodology and organization of income accounting.