Zhigley I. Accounting for the exchange transactions: recognition order and estimation methods

The foreign economic activity of the enterprises, which consists of the exchange transactions and is to be reflected on the accounts; the purpose - the theoretical and methodical issues grounding as well as the practical recommendations concerning the recognition and estimation methodic of the exchange transactions in accordance with the market conditions; methods - induction, deduction, comparison, abstract-logical, causation, the statistical reduction, modeling; theoretical and practical results - the urgent problems relating to improvement of methodical and practical issues concerning the accounting for the exchange transactions have been researched and resolved. The results of research may be used in the author's publications, the teaching materials and conference reports as well as in the activity of the enterprises; research novelty - the economic essence of the "exchange transactions in the foreign economic activity" as well as "recognition" has been clarified; the necessity of introduction of the date of transaction as the third criterion of recognition; the essence of the concept "sum difference" has been defined and the classification of the exchange rate difference and sum differences has been clarified; the methodic of estimation of the non-monetary items in foreign currency in case of the partial payments in advance has been worked out; the accounting policies elements concerning the exchange transactions have been completed; the issue concerning the reflecting in accounting of the sum and exchange rates differences in accordance with their economic essence has undergone the further development; the directions of the effective legislative acts improvement have been offered; the necessity has been grounded as well as the methodic approaches to the organization and accounting and control procedures for the exchange transactions on the basis of computer technologies while applying monetary - non-monetary estimation method of the exchange transactions; extent of implementation - the research results are used in activity of the public company "Zhytomyrsky Maslozavod" and in teaching such disciplines as "Financial Accounting", "Accounting and Analysis of the Foreign Economic Activity" at ZSTU, the recommendations to be considered by the Methodological Council on Accounting of the Ministry of Finance of Ukraine; effectiveness - ensures the fair representation of exchange transactions in accounting and enables to control over such transactions; sphere (branch) of usage - economic activities of enterprises of all forms of ownership and business.