Purpose of research: working out of the concept of transformation of liabilities as a basis for the development of the theory and methodology of accounting and control of liabilities of business entities under conditions of present-day economic and legal relations. Object of research: system of accounting and control of liabilities of business entities under conditions of economic and legal transformations. Subject of research: theoretical and methodological as well as organizational and practical statements of accounting and control of occurrence, transformation and ceasing of liabilities of business entities in the context of juridical and economic approaches to liability relations. Methods of research: historical method, logical method, gnoseological method, system approach, analysis, synthesis, induction, deduction, abstraction, idealization, generalization, bibliographic and bibliometric analysis, comparison and legal methods, mathematic and statistical methods, expert evaluation. Scientific novelty of the results obtained lies in the development of the theoretical and methodological statements of accounting and control of liabilities of business entities basing on the conception of liabilities' transformation as the ground for identifying facts of their changes, which solves the scientific problem of inconsistency of the theoretical and methodological statements of accounting and control with the present-day conditions of economic and legal relations. The most essential results, which characterize the scientific novelty and personal author's contribution, are the following: for the first time such issues have been obtained: theoretical conception of liabilities' transformation as well as the approach towards its accounting reflection on the basis of identifying changes of liabilities according to their economic and legal content, the mechanism of revealing accounting principles in the process of recognizing liabilities as an object of accounting reflection has been disclosed, which gives the ground to the development of accounting methodology with the consideration of the juridical approach towards forming of liability relations; a set of organizational and methodological statements of recognition and estimation of contingent liabilities of payments to employees on the basis of the suggested classification for forming the system of analytical accounting of such kind of settlements, which secures the creation of reserves for covering the forecasted contingent liabilities on salaries and wages as well as other payments to company's personnel; methodological statements of accounting for transactions on forming payment provisions by bonds in the part of developing the elements of its method (in particular, recognition, estimation, reflection in the system of company's accounts and reporting), which creates an efficient legal basis for regulating relations when settling liabilities by bonds for increasing the effectiveness of managing company's liabilities; the issues have been improved as follows: estimation of contingent liabilities (in the part of applying the suggested method of the best estimates as well as a certain set of interval meanings), which provides relevant information on the size of contingent liabilities, their state and influence on the results of company's business activity; methodological approach towards the accounting reflection and disclosure in financial statements of the information on contingent liabilities and provisions of expenses and payments on the basis of the suggested subaccounts, crosscuts of analytical accounting, forms of internal reporting, which assist in expansion the information content of management data and form the base for estimating consequences of contingent liabilities' coming; normative and legal regulation of accounting for company's contingent liabilities by working out Accounting Provisions (Standards) "Consequences of contingent events of business life", which secures the establishment of the unified methodological grounds of accounting reflection and formation of full, reliable and unbiased information on liabilities of a business entity; theoretical and methodic statements of control of settlements with suppliers and contractors in the part of the suggested methods, which increase the effectiveness, reliability and timeliness of procedures of control concerning the availability and state of liabilities of a business entity; methodic approach to analytical support of decision making concerning payroll liabilities and in the part of renewal of human capital in the context of applying the Balanced Scorecard with the consideration of the economic value added (EVA) as a basis for developing strategic cards of business activity with the specification of the set of criteria of its efficiency; organizational grounds of accounting for bank loans' liabilities in the part of the documental support of accounting for the liabilities' transformation and setting of the requirements towards the development of the system of analytical accounts, which increase the full disclosure of accounting information, necessary for managing company's borrowed capital; the following issues have undergone further development: methodological grounds of accounting reflection of liabilities in the part of the development of the elements of accounting method on the basis of structuring liabilities' life cycle as a conceptual framework of development of the theory and methodology of accounting and control from the view of solving methodological problems of identification, estimation and classification of liabilities; theoretical grounding of classification of liabilities on the basis of the system approach with the consideration of the evolution of economic and juridical views on the facts of liabilities' occurrence on micro- and macro levels as a basis of accounts' development and formation of information on liabilities in the analytical crosscuts necessary for management; specification of the economic and legal essence of accounting concepts (in particular, liabilities agreement, purchasing process, process of supplying, supplier, contractor, purchase agreement, purchase and sale), which assists in regulation and unified usage of accounting terminology; theoretical statements of recognition and estimation of company's liabilities with the consideration of economic and legal content of their transformation, which secure the harmonization of the requirements of national and international accounting standards towards recognition of liabilities and application of valuation methods in the process of their value measurement; recognition of the essence of the concept "contingent liabilities" and their classification for accounting purposes as a basis for forming a single methodological approach towards reflection of this object in the accounting system; recognition of contingent liabilities by the defined criteria (estimation of contingent liability on the reporting date can be reliably determined; there is a great probability of reducing economic benefits in the result of contingent liability occurrence or liquidation of the consequences of its coming) and the order of reflecting information on contingent liabilities in reporting in case their reliable estimation is impossible and there is little probability of occurrence in the future; this prevents from unjustified reflection of contingent liabilities in accounting and financial reporting of business entities; organization of accounting reflection of transactions with bonds with the consideration of the forms of external (guarantee) and internal (forfeit, pledge, bond provision) provision of payments by them, which assists in avoidance of losses in the result of reduction of solvency of a company issuing bonds. Implementation extent: research results have been implemented into the practice of Ukrainian National Committee of International Trade Chamber, Auditing Chamber of Ukraine, Central Administration of Economy of Zhytomyr Regional State Administration, Central Administration of Finance of Zhytomyr Regional State Administration, Central Administration of Statistics of Zhytomyr Regional State Administration, Central Administration of State Treasury of Ukraine in Zhytomyr Region, Zhytomyr Regional Administration of Forestry and Hunting of State Committee of Forestry of Ukraine; PLC "Zhytomyr Industrial Complex of Silicate Products", Zhytomyr State Technological University.
