Bereza S. Accounting and control of monetary assets and accounts receivable: theory and practice

Objects of research: business transactions of monetary assets and accounts receivable, reflected in accounting at food-industry enterprises of Zhytomyr region. The purpose of research: the grounding of the theoretical and methodical concepts as well as working out the practical recommendations concerning the improvement of accounting and control of monetary assets and accounts receivable on the state level and at the concrete enterprise basing on the study and the critical analysis of the existing in Ukraine practice of the accounting for the monetary assets and the accounts receivable. Methods: induction, deduction, historical, logical, comparison, statistic, causation, abstract-logical, observation. Theoretical and practical results: urgent problems relating to improvement of methodical and practical issues concerning accounting for the monetary assets and accounts receivable have been researched and resolved. The results of research may be used in author’s publications, teaching materials and conference reports as well as in the activity of food-industry enterprises. Research novelty: consists in theoretical and methodical substantiation and resolution of a number of issues concerning the improvement of accounting for the monetary assets and accounts receivable. The research brought the following results: the new definition of “monetary assets” has been offered; concept “accounts receivable” has been defined; it has been grounded that the criteria “payments” is an integral accounting object, and accounts receivable as well as accounts payable are its objects; the concept “assets” has been defined; the classification of the accounts receivable for the accounting needs has been completed and clarified; the methods of accounting for the doubtful and bad debts in the part of their recognition and evaluation have been developed; the accounting policy elements concerning monetary assets and accounts receivable have been determined; the methods of internal control of transactions with monetary assets and accounts receivable have been worked out; the necessity and the possibility of the improvement of the existing computer programs relating to the monetary assets and the accounts receivable have been grounded. Extent of implementation: the research results are used in activity of the food-industry enterprises of Zhytomyr region, in teaching such disciplines as “Financial Accounting”, “Accounting Organization” at ZIET, as well as are taken into the consideration by the Methodological Board of the Ministry of Finance of Ukraine. Effectiveness: ensures fair representation of monetary assets and accounts receivable in accounting and enables to control over such transactions. Sphere, branch of usage: economic activities of enterprises of all forms of ownership and business