Accounting, analysis and control of income, expenditures and financial results at «T-WEST» LLC
Students Name: Ohorodnyk Andrii Mykhailovych
Qualification Level: magister
Speciality: Accounting and Taxation
Institute: Institute of Economics and Management
Mode of Study: full
Academic Year: 2023-2024 н.р.
Language of Defence: ukrainian
Abstract: Ogorodnyk A.M., Tyvonchuk O.I. (supervisor). Accounting, analysis and control of income, expenditures and financial results at «T-WEST» LLC. Master’s qualification work. – Lviv Polytechnic National University, Lviv, 2023. Extended abstract The issue of income, expenses and financial results of business entities is always a relevant and important topic of research in the field of accounting, economics and management. The main goal of any enterprise, including small businesses, is to maximize incomes, optimize costs and achieve a positive financial result and find ways to grow with certain resources [1]. The object of the study is income, expenses and financial results in the accounting and analytical system of the studied enterprise - «T-WEST» LLC. The subject of the study is the theoretical and practical aspects of accounting, analysis and control of income, expenses and financial results at «T-WEST» LLC and at Ukrainian enterprises in general. The purpose of the master’s thesis is to study the theoretical foundations of the organization and methods of accounting, analysis and control and to develop recommendations for improving the existing organization of accounting and the system of control of income, expenses and financial results at «T-WEST» LLC. «T-WEST» LLC is a small enterprise that prepares and submits simplified financial statements in accordance with NAS 25. The entity’s principal activity is the wholesale and retail trade in household appliances and electronic equipment. The entity does not have an accounting department. Accounting functions at «TWEST» LLC are provided by a consulting firm [2]. Data on expenditures and incomes are accumulated in the accounting program Business software for accounting PROF (BAS) on the basis of source accounting documents. The analysis of «T-WEST» LLC for 2020-2022 showed that net revenue from sales of products (goods, works, services) during the analyzed period was constantly growing, which indicates the active, dynamic development of the enterprise, scaling of activities and strengthening of the competitiveness of «T-WEST» LLC. In proportion to the growth of revenues from sales, the cost of sales and the total amount of the 8 company’s expenditures also increased. The study of the indicators of financial stability of «T-WEST» LLC demonstrates a significant dependence of the enterprise on external financial sources [2]. The successful operation of enterprises requires a reasonable and cost-effective approach to identifying ways to increase incomes and optimize spending based on their analysis and evaluation of the results obtained. To do this, it is important to understand what components affect incomes, expenses, and financial results [3]. An analysis of «T-WEST» LLC ’s income for 2020-2022 revealed that the largest share of the company’s income is net sales revenue, and the largest share of expenditures is the cost of goods sold. The efficiency of the costs incurred by the company: operating, administrative, and sales, is high and constantly growing, as evidenced by the corresponding coverage ratios, which have been consistently improving throughout the analyzed period. The net profitability of sales of products, expenses and assets has also been growing steadily [4]. The researched enterprise «T-WEST» LLC uses accounts of class 7 "Income and performance results" and 9 "Activity expenditures", determining income and expenses from operating and other activities and financial result. To improve the analytical nature of accounting, to better understand the structure and sources of relevant income and expenses, the introduction of additional analytical accounts of the third order is proposed [5]. «T-WEST» LLC does not have an internal control system, which does not allow the company to take advantage of the benefits it provides. The paper presents recommendations for its implementation, in particular, on the development and approval of internal regulations that would regulate the procedure for its planning and implementation; stages of internal control and tasks that should be implemented at each stage [6; 7]. Key words - income, expenditures, financial results, accounting, internal control, analysis. References. 9 1. Kozachenko A. Y. Incomes of business entities: economic essence and classification // Bulletin of Khmelnytsky National University. - 2021. - N 6. - P. 35-43. 2. 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