Classification of Reserves for Business Accounting Purposes

Due to accumulation of reserves and their appropriate accounting and recording, business enterprises are allowed to increase assets, quickly respond on the occurrence of unpredicted costs and liabilities, and comply with the principle of business continuity. The classification of reserves as objects...

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Autor principal:	І. GRINENKO
Formato:	article
Lenguaje:	UK
Publicado:	National Academy of Statistics, Accounting and Audit 2021
Materias:	reserves, classification of reserves, classification criterion, accounting, business enterprise. Statistics HA1-4737
Acceso en línea:	https://doaj.org/article/c334f020238c43b98aac4e8af4d6dcca
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spelling	oai:doaj.org-article:c334f020238c43b98aac4e8af4d6dcca2021-11-29T10:26:38ZClassification of Reserves for Business Accounting Purposes2520-68342521-1323https://doaj.org/article/c334f020238c43b98aac4e8af4d6dcca2021-11-01T00:00:00Zhttps://nasoa-journal.com.ua/index.php/journal/article/view/224https://doaj.org/toc/2520-6834https://doaj.org/toc/2521-1323Due to accumulation of reserves and their appropriate accounting and recording, business enterprises are allowed to increase assets, quickly respond on the occurrence of unpredicted costs and liabilities, and comply with the principle of business continuity. The classification of reserves as objects of accounting is the key to the sound recording and enclosure of information about them in the financial statements of a business enterprise. The research objective is to analyze and sum up classification criteria and types of reserves, and to develop recommendations on improvements in the classification of reserves for business accounting purposes. Approaches of Ukrainian authors to the classification of business reserves as an object of accounting are investigated. It is revealed that the researchers propose a wide range of the classification criteria. The most widespread classification criteria are compulsory accumulation, accumulation sources, and accumulation purpose. But the proposed criteria are diverse to the extent that the system approach to the recognition, valuation and recording of reserves cannot be applicable. The author’s approach to the classification of reserves by various criteria is proposed as a way to resolve the problems of constructing an accounting system for reserves as accounting objects and provide an appropriate information support for business enterprises. The types of reserves and classification criteria proposed by the author on the basis of the research can give multifaceted characteristics of the studied object, and can be used as a framework for accounting and recording of transactions related with accumulation and utilization of reserves.І. GRINENKONational Academy of Statistics, Accounting and Auditarticlereserves, classification of reserves, classification criterion, accounting, business enterprise.StatisticsHA1-4737UKNaukovij Vìsnik Nacìonalʹnoï Akademìï Statistiki, Oblìku ta Auditu, Iss 4, Pp 29-37 (2021)
institution	DOAJ
collection	DOAJ
language	UK
topic	reserves, classification of reserves, classification criterion, accounting, business enterprise. Statistics HA1-4737
spellingShingle	reserves, classification of reserves, classification criterion, accounting, business enterprise. Statistics HA1-4737 І. GRINENKO Classification of Reserves for Business Accounting Purposes
description	Due to accumulation of reserves and their appropriate accounting and recording, business enterprises are allowed to increase assets, quickly respond on the occurrence of unpredicted costs and liabilities, and comply with the principle of business continuity. The classification of reserves as objects of accounting is the key to the sound recording and enclosure of information about them in the financial statements of a business enterprise. The research objective is to analyze and sum up classification criteria and types of reserves, and to develop recommendations on improvements in the classification of reserves for business accounting purposes. Approaches of Ukrainian authors to the classification of business reserves as an object of accounting are investigated. It is revealed that the researchers propose a wide range of the classification criteria. The most widespread classification criteria are compulsory accumulation, accumulation sources, and accumulation purpose. But the proposed criteria are diverse to the extent that the system approach to the recognition, valuation and recording of reserves cannot be applicable. The author’s approach to the classification of reserves by various criteria is proposed as a way to resolve the problems of constructing an accounting system for reserves as accounting objects and provide an appropriate information support for business enterprises. The types of reserves and classification criteria proposed by the author on the basis of the research can give multifaceted characteristics of the studied object, and can be used as a framework for accounting and recording of transactions related with accumulation and utilization of reserves.
format	article
author	І. GRINENKO
author_facet	І. GRINENKO
author_sort	І. GRINENKO
title	Classification of Reserves for Business Accounting Purposes
title_short	Classification of Reserves for Business Accounting Purposes
title_full	Classification of Reserves for Business Accounting Purposes
title_fullStr	Classification of Reserves for Business Accounting Purposes
title_full_unstemmed	Classification of Reserves for Business Accounting Purposes
title_sort	classification of reserves for business accounting purposes
publisher	National Academy of Statistics, Accounting and Audit
publishDate	2021
url	https://doaj.org/article/c334f020238c43b98aac4e8af4d6dcca
work_keys_str_mv	AT ígrinenko classificationofreservesforbusinessaccountingpurposes
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Classification of Reserves for Business Accounting Purposes

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