ACCOUNTING PARAMETERS FOR THE DISCLOSURE OF INFORMATION REGARDING FINANCIAL RESERVES OF ENTERPRISES

Abstract

Aspects of information regarding financial reserves disclosure, which are formed in the system of accounting and financial reporting, are described in the article. It was established that the economic of financial reserves content consists in the recognition of the costs associated with certain economic operations, regardless of the time of their actual occurrence. Information about financial reserves in the reporting of enterprises is formed on the basis of a certain set of accounting procedures. The relevant parameters for disclosure of relevant information include the recognition of financial reserves and their assessment. The specified parameters should provide management system’s interests in information that can be used to implement the functions of planning, making and implementatiog management decisions, control and analytical evaluation it’s results, as well as regulation. The accounting system should provide interested parties with data, the use of which will contribute to solving the relevant tasks. The specified parameters depend on a set of various factors, the leading role among which is played by the information needs of users, in particular – management systems. In order to optimize the solution of relevant tasks, multivariate accounting procedures should be provided, which should contribute to the formation and justification of adequate management decisions. Recognition of financial reserves is based on the identification of the circumstances for which they are intended to be compensated (operational risks, the need to allocate costs in accordance with the occurrence of related income, etc.). The fact of a reserve recognizing can be implemented not only by directly "tying" it to financial and economic activity, but also by transferring the relevant risks to third parties. The assessment can be carried out taking into account the information expectations of information users regarding giving preference to data regarding the balance of reserves as of the reporting date or the amount of expenses incurred during the reporting period. Different approaches to the assessment of reserves can affect the implementation of the functions of the management system.