ECONOMIC NATURE OF PROPERTY RENTAL BY BUSINESS ENTITIES

Abstract

Enterprises that provide rental services are one of the main economic entities in the country's economy in modern military economic conditions. Ensuring the stability of the activities of such enterprises depends primarily on the availability of rental fund items, the list of which is expanded and supplemented every year. The problem of the completeness and timeliness of the definition of property rental items in accounting has been studied. The peculiarity of the recognition of property rental items in the field of service provision is characterized. The role of the norms of the National regulation (standard) of accounting 7 "Fixed Assets" in the part of recognition of leased property is defined. The sequence of recognition of objects as components of fixed assets according to certain criteria is determined. The criteria of current and non-current assets, which are the basis for their distinction, are substantiated. The scientific views of domestic and foreign scientists and the norms of normative legal acts regarding the definition of "objects of property rental" were studied. The author's vision of the recognition of leased property under the conditions of applica-tion of national and international accounting standards (financial reporting) is presented. The legislative norms re-garding the criteria for recognizing the company's stocks have been studied. The place of rental items in the accounting system of enterprises that provide rental services is determined. Types of items classification of the rental fund were studied. It was concluded that the economic essence of rental items involves the separation of individually defined ma-terial values that are purchased or manufactured for the purpose of being transferred to temporary possession and use by individuals and legal entities for the purpose of obtaining income, who repeatedly participate in the process of providing services.