Accounting, analysis and audit of discounts provided to customers at corporation “Energoresourse-invest”
Students Name: Yanyshyn Stepan Volodymyrovych
Qualification Level: magister
Speciality: Accounting and Taxation
Institute: Institute of Economics and Management
Mode of Study: full
Academic Year: 2020-2021 н.р.
Language of Defence: англійська
Abstract: Yanyshyn S.V., Skasko O.I. (supervisor). Accounting, analysis and control of discounts provided to buyers and customers in the Corporation «Energoresurs-Invest». Master’s thesis. - Lviv Polytechnic National University, Lviv, 2020. Discount is a planned reduction of the basic price of goods for packaging, additional advertising or the amount of natural losses, damage, combat (glassware or goods in glass containers during transportation). Reducing prices in order to increase purchases, the formation of public demand. One of the conditions of the transaction, which determines the amount of possible reduction of the base price of the goods specified in the transaction agreement. Discount is a reduction in the price of goods by the manufacturer (supplier) during its sale (sale) [1, 2, 3, 4, 5, 6]. Study object - discounts, bonuses and other loyalty programs in the environment of their use in order to meet the needs of accounting, economic analysis and internal control. Scope of research - Accounting, analysis and control of discounts provided to buyers and customers in the Corporation «Energoresurs-Invest». Goal of research is to acquaint and highlight the methodological features of the reflection in the accounting process of the sale of goods with discounts, analysis of their effectiveness and control. The paper covers national and international standards, legislation, regulations, special economic literature and other sources of information governing the use of discounts and loyalty programs in the trade activities of economic entities. The economic essence of the object of research, classification, estimation algorithm, reflection in accounting and reporting, methods of internal control are investigated. The master’s qualification work presents the results of production and economic activities of the corporation «Energoresurs-Invest», its accounting policy and analyzes the volume of sales of goods and services using discounts and bonuses [7]. The current procedure for recognition and accounting of transactions for the sale of goods with discounts and bonuses does not meet the principles of accounting and financial reporting, nor the needs of users of accounting data. Problems of both analytical and methodological nature have been identified. It is established that the most significant methodological problem is the recognition of income from trading operations with discounts and bonuses after the date of initial sale. It is concluded that it is necessary to postpone the recognition of part of the income from the results of such trading operations as the most appropriate method of reflection in the accounting of income from the studied operations [8, 9, 10]. The implementation of the proposed recommendations for improving the methodology and organization of accounting for the sale of goods with discounts and bonuses will help ensure the completeness and accuracy of accounting information, improve the quality of management decisions based on such information, and, consequently, business efficiency. Keywords: discount, bonus, loyalty program, trade, profit, taxation. References. 1. About advertising: Law of Ukraine from 3.07.1996 №270 / 96-ВР, with changes and additions from 13.08.2020 № 768-IX [Electronic resource]. - access mode: https://zakon.rada.gov.ua/laws/show/270/96-%D0%B2% D1% 80 # Text. 2. Ukrainian explanatory dictionary: About 250,000 words / incl. and goal. ed. Vyacheslav Busel. - Kyiv; Irpen: Perun, 2016. - 1692 p. - ISBN 978-966-569-304-8. (To the 25th anniversary of the publishing house "Perun"). 3. Large explanatory dictionary of the modern Ukrainian language (with additions and additions) / Structure. and heads. ed. V.T. Stork. - К.: Ірпінь: ВТФ «Перун», 2005. - 1728 с. 4. Law of Ukraine "On Consumer Protection" №1023-XII of 01.08.2020 [Electronic resource]. - access mode: https: // zakon .rada.gov.ua / laws / show / 1023-12 # Text. 5. Slovopedia: Economic encyclopedia [Electronic resource]. - Access mode: http://slovopedia.org.ua/38/53392-0.html. 6. Merriam-Webster [Electronic resource]. - Access mode: http://www.merriam-webster.com/dictionary/. 7. Energoresurs-invest - mission and values [Electronic resource]: [Website]. - Electronic data. - Access mode - https://energoresurs-invest.com.ua 8. Law of Ukraine "On Prices and Pricing" № 5007-VI as amended on 02.04.2020 [Electronic resource]. - access mode: https://zakon.rada.gov.ua/laws/show/5007-17#Text. 9. Tax Code of Ukraine: Law of Ukraine №2755-VI of 02.12.2010 [Electronic resource] // VVR. - 2011. - №№13-17. - p.112 - Access mode: http://zakon.rada.gov.ua/cgi-bin/laws/ main.cgi? Nreg = 2755-17 10. Zagorodniy AG Accounting: Fundamentals of theory and practice: a textbook / A.G. Zagorodniy, G.O. Partin, L.M. Pilipenko. - 2nd ed., Reworked. and add. - К.: Знання, 2009. - 422 с.