IMPROVING THE FORMATION OF INCOME AND EXPENSES IN ECONOMIC ENTITIES AND RECOGNITION IN ACCOUNTING

Abstract

In this article, the main goal of the activities of economic entities in world practice is to achieve positive financial results, that is, to maximize profits in companies, to obtain prompt and reliable information on accounting and reporting on financial results, and to make important management decisions. At the same time, defining the features of accounting for financial results and reporting of foreign partners entering the international market, the procedures for applying international financial reporting standards in them are explained. Therefore, at the same time, attention is paid to the organization of accounting for financial results and reporting based on international standards, as well as the relevance of compiling the financial statements of companies whose shares are listed on stock exchanges in many countries of the world. based on international standards. This article addresses the issues of recognition of income and expenses, formation of financial results in different balance theories, reflection of financial results in accounting according to different concepts, improvement of accounting information on financial results, analysis of profitability indicators. It should be recognized that the article achieved the classification of income and expenses, the formation of reporting indicators on gross income, increasing the reliability of accounting information on financial results, and determining profitability indicators. However, important issues related to the organization of accounting and reporting on financial results at the level of international standards have not yet been positively resolved. The scientific researches of a number of foreign economists on the creation and improvement of the theoretical and methodological basis for accounting and reporting on financial results are covered.