SPECIFICS OF COMPILATION OF FINANCIAL STATEMENTS OF AGRICULTURAL ENTERPRISES

Abstract

The article defines the role of financial reporting as a source of information about the activities of an agricultural enterprise. At the current stage of economic activity, the methodology for the formation of financial reporting does not adequately reveal the competitive advantages of agricultural enterprises, their investment attractiveness, does not provide sufficient information to control agricultural activity and accordingly reduces the effectiveness of making managerial decisions.The process of economic activity of any enterprise, including agricultural, leads to a result that is of interest to a certain circle of people - users of financial information. To inform them, they compile reports, which provide information about the financial state of the enterprise: the availability of financial resources of the enterprise, their distribution and use, data on the financial results (profit or loss), the presence and movement of own and borrowed capital, cash flows, the state of accounts receivable and payable , the state and change of fixed and working capital, intangible assets.In most cases, managers of enterprises fully trust the preparation of reports for accounting officers. Managers of enterprises do not necessarily have to know the methods of preparing financial statements, the method of accounting for business operations, but each manager should have the information presented in the financial statements, since, by signing these documents, he is responsible for their reliability.The modern manager of an agricultural enterprise must be sure of the correctness and reality of the balance sheet and other forms of financial reporting, be able to "read" the reporting indicators and assess the financial situation of the enterprise: liquidity, solvency, financial stability and profitability of the enterprise and their change compared with last year, "see »Their causes. This will enable you to effectively manage your business. In this regard, the question of the features and methods of forming financial statements of agricultural enterprises are of particular importance today.It is proved that unreliable and untimely financial reporting is the reason for the adoption of ineffective management decisions. It is substantiated that the accounting and reporting system is crucial for the formation of the policy of conducting agrarian business. It is based on state statistics that is used in state and sectoral management. The normative provision of formation of accounting and reporting information is investigated.The authenticity of the published financial statements is approved by the auditing organization. One of the main steps in compiling annual financial statements of enterprises and organizations in Ukraine is inventory. The Law of Ukraine "On Accounting and Financial Reporting in Ukraine" for the confirmation of the correctness and reliability of the accounting and reporting data provides for the holding of enterprises, their associations and self-supporting organizations, regardless of the forms of property inventory of property, funds and financial obligations.Thus, as a result of our research, we can state that agricultural enterprises are developing financial statements in accordance with the current legislation. Those agricultural entities that are subjects of small business form their own financial statements in accordance with the requirements of P(S)A 25 "Financial Report of a Small Business Entity". To the disadvantages of these forms of reporting can be attributed to the reduction of informality in relation to the financial condition and operational activities of entities.At the same time, the importance of evaluating financial statements is the question of the materiality of the indicators that are reflected in the reports. Separate indicators may not be sufficiently significant to reflect them in the balance sheet and in the statement of financial results. In this aspect, further research should be aimed at the search and development of documents that would organically complement and enhance the informativity and usefulness of financial statements of agricultural enterprises.