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Accounting of Financial Results: Problems and Ways of Perfection

Author

Listed:
  • Teslenko Tamara I.

    (National University of State Tax Service of Ukraine)

  • Konkova Nataliya V.

    (National University of State Tax Service of Ukraine)

Abstract

The topic of financial results of activity of a company is always topical and often discussed by scientists and experts in the field of economy and management of a company. The article provides analysis of various approaches to explanation of the "financial result" notion. It studies classification of financial results. It considers the order of reflection of formation of a financial result of a company in accounting and provides proposals on its perfection, in particular, introduction of sub-accounts to the profit and loss account by various types of activity. Such a classification of financial results by types of activity on account 44 "Undistributed profit (uncovered losses)" would allow control of influence of results of a separate type of activity on the total result of activity of a company. This would provide information to insiders for making managerial decisions on improvement of results in a specific direction of economic activity.

Suggested Citation

  • Teslenko Tamara I. & Konkova Nataliya V., 2013. "Accounting of Financial Results: Problems and Ways of Perfection," Business Inform, RESEARCH CENTRE FOR INDUSTRIAL DEVELOPMENT PROBLEMS of NAS (KHARKIV, UKRAINE), Kharkiv National University of Economics, issue 4, pages 356-360.
    • Handle: RePEc:idp:bizinf:y:2013:i:4:p:356_360
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