Krychun P. Accounting and audit of an uncompleted production in building sector enterprises

This thesis presents the research on theoretical and organizational and methodical aspects of audit and accounting of uncompleted construction operations at contracting companies in Ukraine. This study contains an analysis of existing definitions, namely, "uncompleted production", "incomplete construction" and "uncompleted construction operations" (UCO), and clarification of their content. The accounting practice for UCO was researched in the work and the reasons of accounting principles deflections, which are introduced in Accounting Regulation (Standard), were revealed and identified by author. Organizational and technological features of contract construction have been highlighted, their influence on cost accounting and control and handing-over of the works, as factors that affect the UCO indicator has been researched. The choice of the optimal method for cost accounting and performance of construction contracts has been established. Recommendations on lines of development and implementation of amendments to the Accounting Regulation (Standard) 18 "Construction Contracts" and on improvement of organization and methodology of audit costs and revenues in the performance of construction contracts have been provided. Special attention was devoted to UCO internal audit and aspects of perfomance of internal audit services at contracting companies. An audit program for contracting companieas and UCO internal company audit standards project have been developed.