RECEIVABLES: RECOGNITION AND EVALUATION ACCORDING TO NATIONAL AND INTERNATIONAL STANDARDS

Abstract

Globalization of economic relations, growth in the share of export operations, increase in turnover with enterprises of other countries, the policy of European integration - all this creates an urgent need to harmonize domestic regulatory requirements with European ones. Accounting for receivables differs according to NR(S)A and IFRS, therefore, the article analyzes and compares the main provisions of national and international standards that regulate accounting for receivables. The scientific approaches of domestic and foreign scientists regarding the accounting of receivables are disclosed. The issue of recognition, evaluation, classification, write-off of receivables according to national and international standards of accounting and reporting was studied. It was found that international standards do not have a single standard for receivables, information must be obtained from related standards, in particular those relating to financial assets. There are differences in approaches when classifying short-term receivables, which according to international standards are commercial and other, that is, they distinguish debt that is a financial asset. NR(S)A 10, as the main standard for accounting for receivables, covers some issues, in particular regarding classification, write-off, but there is not enough information regarding the assessment of receivables by types. National and international standards do not give recommendations on the assessment of non-monetary debt, which creates a certain uncertainty in its accounting. International standards regulate the accounting of settlements less, giving wider opportunities for own professional judgment, including when calculating the reserve for doubtful debts, recognition of income and expenses. The article reveals directions for improving the accounting of receivables according to national standards, in particular with regard to the allocation of monetary, non-monetary receivables and indebtedness of related parties, the possibility of calculating the reserve for doubtful debts in ways other than those specified in NR(S)A 10.