Purpose of research: grounding of the theoretical statements and working out of the recommendations on improvement of accounting and control for transactions with derivative instruments. Object of research: business transactions with derivative instruments, which are to be reflected in accounting and control. Subject of research: theoretical and practical issues of accounting and control for transactions with derivative instruments. Methods of research: theoretical generalization, analysis, synthesis, cause-and-effect relations, abstract and logical method, systematization, grouping, observation, induction, deduction. Scientific novelty of the results obtained lies in the grounding of the theoretical statements and working out of the recommendations on improvement of organization of accounting and control for transactions with derivative instruments. Basic grounds of scientific novelty lie in the following: for the first time the results as follows have been obtained: accounting objects have been specified in the structure of assets - financial assets by derivative instruments, and of liabilities - financial liabilities by derivative instruments, as well as the order of their accounting reflection (using vacant sub(accounts) 32 and 686 with the corresponding names) and submitting the information on such assets and liabilities in financial statements, which enables to bring Ukrainian Accounting Standards (Provisions) in accordance with IAS/IFRS; the issues have been improved as follows: classification of derivative instruments for accounting purposes (by the features of basic asset, characteristics and place of concluding an agreement), which allows to eliminate inter-type repetition and is the ground for working out of the methodical principles to accounting and control for transactions with such objects; components of accounting policy concerning the derivative instruments in part of hedging (components of derivative instruments; order of their recognition and conditions of stopping the recognition; historical cost and order of revaluation; methods of reflection on accounts; order of preparing documents on hedge relationships, hedging strategy; grounding of revenue and expense recognition by the transactions with derivative instruments; inventory; order of disclosing the information on derivatives in external and internal reports), which will provide the increasing of efficiency and reliability of reflecting transactions with derivative instruments in accounting and reporting; accounting support of managing derivative instruments by working out the forms of internal accounting reports ("Register of analytical accounting for transactions with derivative instruments", "Statement on the results of derivative instruments revaluation" and "Statement on the results gained from transactions with derivative instruments"), which will promote the expansion of economic efficiency of using derivative instruments and making efficient management decisions; the following issues undergone further development: specification of the concepts "derivative instruments" (term contract, in particular, forward, futures, option, swap and their derivatives), "derivatives" (a synonym of the concept "derivative instruments"), "derivative securities" (derivatives from securities, not from financial instruments),which assists in the recognition and reflection of transactions with such financial instruments in the accounting system; directions of concordance of the national methodical approaches with the international requirements to accounting for transactions with derivative instruments in the part of including of swap to derivative instruments, recognition of term contracts like unconditional rights and obligations, and grounding of the changes and amendments to the Accounting Standard (Provision) 13 "Financial instruments"; ways of improving the analyticity and reliability of financial statements for managerial decision making in the part of grounding the amendments to the corresponding forms, i.e.: form № 4 "Owner's Equity Statement" by adding the lines 120 "Financial assets and liabilities' additional evaluation by derivative instruments" and line 125 "Financial assets and liabilities' writing-off by derivative instruments", as well as form № 5 "Footnotes to the Annual Financial Statements" by adding Section XVI "Derivatives"; methodic support of control over the transactions with derivative instruments by the specification of the mechanism of carrying out control actions, which allows timely identification of deviations as well as effective management of the risks taken and passed by an enterprise by the transactions with such objects. Implementation extent: research results have been implemented into the practice of sole-proprietorship "Termetkonstruct", Ternopil affiliate of the public limited company "Ukrtelecom", joint Ukrainian-Hungarian limited liability company "Laser Tex". Some results have been applied in the educational process of Zhytomyr State Technological University in teaching such disciplines as "Financial Accounting", "Managerial Accounting".
