№ 12/2018

Fìnansi Ukr. 2018 (12): 107–119https://doi.org/10.33763/finukr2018.12.107

ACCOUNTING AND AUDIT

SUSHKO Nataliia ¹, LARIKOVA Tetyana ², YABLONKO Olena ³

¹expert in PFM and Accounting Project "EU for Stronger Public Finance Systems of Local Governments"
OrcID ID : https://orcid.org/0000-0003-2603-2871
²SHEE “Kyiv National Economic University named after Vadym Hetman”
OrcID ID : https://orcid.org/0000-0001-6064-2441
³SESE "The Academy of Financial Management"
OrcID ID : https://orcid.org/0000-0002-5266-6467

Methodological basis for the formation in accounting of liability information in higher education institutions

The article investigates the economic essence of public sector institutions obligations according to the requirements of the legislation, which regulates the budget process, accounting and financial reporting. It is clarified that in the accounting law, the economic substance of the commitments has a single approach, in particular, the obligations are treated as debt of a public sector entity that arose as a result of past events and the recovery of which in the future is expected to lead to a decrease in the resources of the public sector entity, which entails economic benefits or utility potential. The authors suggest the following classification of liabilities according to the budget and accounting legislation: budget legislation – budget commitments, financial commitments, long-term obligations under the energy service, state obligations for state derivatives; accounting legislation – long-term liabilities, current liabilities, unforeseen obligations, incomes of future periods legislation, This allows determining approaches to conduct analytical accounting to ensure the formation of financial and budgetary reporting. The analysis of the current state of higher institutions obligations is conducted. The structure of the obligations according to the consolidated report of the Ministry of Education and Science of Ukraine (p.1-ds) as of 01.01.2018 is determined. Through a comparative analysis of ten HEIs’ liability structure, it is established that the main part of the liabilities is occupied by current liabilities and income for future periods. The methodological principles of accounting generalization and accumulation of information under the enegroservice agreements are determined. It requires to add new sub-accounts to the plan of accounts: 6017 “Long-term obligations for the energy service”; 6418 “Settlement of obligations from the energy service”. This facilitates the application of the National Accounting Standards, taking into account sectoral peculiarities, and enables the implementation of the International Accounting Standards in the practice of budgetary institutions accounting.

Keywords:national accounting regulations, liabilities, budgetary commitments, financial commitments, long-term liabilities, current liabilities, future income

JEL: H61, I20, M41

SUSHKO N. . Methodological basis for the formation in accounting of liability information in higher education institutions / N. . SUSHKO, T. Larikova, O. Yablonko // Фінанси України. - 2018. - № 12. - C. 107-119.

Article original in Ukrainian (pp. 107 - 119)

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