Accounting, analysis, internal control of lease operations of LLC “ORGANIC AGRO”
Students Name: Bokalo Roman Ivanovych
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: ukrainian
Abstract: Bokalo R. I., (supervisor) Chubai V. M. Accounting, analysis, internal control of lease transactions of LLC "ORGANIC AGRO". Master’s thesis Lviv Polytechnic National University 2020. Extended abstract The accounting of leases in Ukraine is based on both domestic and international standards. International standards are more investor-oriented. The difference in accounting for leases is that domestic standards separate operating and financial leases, while international standards do not. These differences are due to the fact that such a classification of leases and their reporting made it difficult for investors to compare companies. In addition, investors had to assess the influence of «off-balance sheet» leasehold obligations of the company, in practice often led to a revaluation of liabilities. A lease is an agreement under which a lessee acquires the right to use an irreversible asset for a fee within a period agreed with the lessor. The object of research is rental operations of LLC «Organic AGRO» The subject of research is the theoretical and methodological aspects of the organization and methodology of the recording, analysis and internal control of rental operations. The aim of the research is to develop theoretical regulations and scientific and practical recommendations aimed at improving the organization and methodology of accounting, analysis and internal control of rental operations at LLC «Organik AGRО» Analysis is an ongoing and integral part of the enterprise’s analytical work. The information obtained from the analysis will enable the management of the enterprise to take appropriate management decisions to reduce delays, Potential increases in the turnover rate of leased property, plant and equipment and output per unit of leased property, plant and equipment usage [3]. The main legal acts regulating lease relations, which are studied by the controller, are: Commercial, Civil, Budget and Tax Codes of Ukraine, and Accounting Regulation 14 "Lease". [1] The approach that leased property, plant and equipment was not recognized as property, plant and equipment was a mistake in practice. The leased property should be subject to separate property counts, with reference to the acceptance documents for the leased property, which should include, in addition to the prescribed information, the lease term [4]. Practical novelty of the research consists in development of recommendations aimed at improvement of organization and methodology of accounting, analysis and internal control of rental operations at LLC «Organik AGRO» In particular, a management reporting format has been proposed to meet the needs of users for consolidated information on the costs of leasing by area and output. This will allow for the analysis of the feasibility of planting different types of agricultural land. The system of accounting for rent on land under warehouses in which grain is stored has been improved. Specifically, it is proposed to reflect such lease on a separate account 200 «Transport and Stocking Costs», and to allocate them with one of the methods of the Accounting Regulations 9 «Reserves». Such changes need to be supplemented by additional analysis by syllabus, thus accumulating and allocating transportation and handling costs according to where such costs arise. Keywords: operating lease, financial lease, debt discount, land market, natural form, non-resident. References: 1. Belyaeva L. A. Control of lease operations in modern business conditions / K.D. Bilous, L. A. Belyaeva - Electronic scientific professional publication on economic sciences "Modern Economics", № 11 2018 [Electronic resource]. – Access mode: https: //modecon.mnau.edu.ua 2. Borymska K. P, Methods of internal control of lease operations of communal property / K. P. Borymska, T. V. Kyryk, Electronic scientific professional publication on economic sciences "Problems of theory and methodology of accounting, control and analysis" Issue. 1 (2012). [Electronic resource]. – Access mode http://eztuir.ztu.edu.ua/handle/ 3. Voloshchuk L. A. Financial analysis: [textbook. aid.] / L. A. Voloshchuk, М. А. Yudin; [ed. SV Filippova]. – Kyiv: Education of Ukraine, 2012. – 328 y. [Electronic resource]. – Access mode: http://economics.opu.ua/naukovabaza/voloschuk 4. Kuzyk N. Organizational and methodological aspects of control of operating lease of fixed assets / N. Kuzyk, O. Krop / Institute of Accounting. control and analysis in the context of globalization, International Proceedings, Issue №2 2014 y. 5. Korvyakov V. A. new standard has been published - IFRS 16 "Lease" [Electronic resource] / V. Korvyakov // League Law: electronic edition. – Electronic data. – [league: law, 2010–2020]. № IFRS Bulletin - Access mode: https://msfz.ligazakon.ua/ua/magazine_article/FZ000875