Issue: №10/2, 2019
The article deals with the problems of accounting at the present stage and the estimation of long-term liabilities, discloses information about the treatment of long-term liabilities, its reflection in the reporting and improvement of accounting. One of the problems with the methodology and organization of accounting for long-term liabilities and displaying them in the balance sheet is the method of estimating such liabilities. Long-term liabilities are intended to mean liabilities that are to be repaid in a period that exceeds the operating cycle of an entity beginning with the balance sheet date, or more than twelve months. It has been determined that long-term commitments are a source of financing for long-term enterprise projects. General indicators of long-term commitments are presented, which give an opportunity to estimate the status and level of these sources of funding. With discounting, the present value is calculated. Discounting allows you to bring the cost of an enterprise's resources to one common time denominator. The lender is more interested in the amount of the extension and the borrower is discounting. The loan agreement and the calculation of the discount rates set the interest rate on borrowed capital and take it as a basis. It is noted that the present and the book value of long-term borrowings, which accrue interest, is different from their book value, the question arises as to which accounts and where to balance this difference. Defining long-term liabilities, estimating and disclosing them in the balance sheet to avoid giving users of accounting and analytical information of distorted data plays an important role in the organization and methodology of accounting. A separate range of proposals to disclose the interpretation of long-term liabilities, reflect them in financial statements, and improve accounting techniques will in some way increase the informative nature and dynamic of financial statements and increase the efficiency of financial management of an entity. References 1. Orlov I.V. Accounting and control of long-term obligations of business entities: theory and methodology: monograph. Zhytomyr: ZhDTU, 2010. 400 с. (in Ukrainian) 2. Petruk O.M. Accounting and analysis of contractual relations: problems of theory and practice: monograph. Zhitomir: ZHDTU, 2009. 332 p. (in Ukrainian) 3. National Accounting Standard (Standard) 1 "General Requirements for Financial Statements": Statement. By order of the Ministry of Finance of Ukraine 07.02.2013, No. 73, and registered with the Ministry of Justice of Ukraine on February 28, 2013 for № 336/22868. URL: https://zakon.rada.gov.ua/ laws/show/z0336-13 (in Ukrainian) 4. National Accounting Standard (Standard) 11 "Commitment": Settlement. Order of the Ministry of Finance of Ukraine dated January 31, 2000 No. 20. URL: http://zakon4.rada.gov.ua/laws/show/z0085-00 (reference date 14.05.2019). (in Ukrainian)
Keywords : long-term liabilities, accounting problems, current liabilities, equity, discounting