Akademik Məlumat İdarəetmə Sistemi
PAHTEI PROCEEDINGS OF AZERBAIJAN HIGH TECHNICAL EDUCATIONAL INSTITUTIONS, vol.7, no.30, pp.29-44, 2023 (Peer-Reviewed Journal)
Accounting of financial results and tax accounting play an important role in solving the problems facing the enterprise. The operation of any economic entity during a certain period of time is characterized by a final indicator as a financial result. The activity of any organization is aimed at obtaining profit from the financial activity, which is the main goal. Studying the concept of "financial result" allows the management of the economic entity to get detailed information about the organization's financial condition, profitability, competitiveness in the goods and services markets. The problem of the economic content of the concept of "financial result" of an economic subject requires precise justification. Among many authors in the field of economic analysis and financial management, there is no unified approach to defining this concept. In this regard, the article is devoted to the directions of improving the relations of accounting and tax accounting of financial results. Modeling of accounting information for financial and tax reports according to financial results, methodical methods of approximation of accounting, tax accounting and financial results were touched upon in the study. One of the most urgent issues is the convergence of accounting and tax accounting of financial results for organizations that are in the main taxation regime, that is, that pay income tax. However, for organizations in other special regimes, the question of increasing the analytical support of data on financial results is incredibly relevant. Therefore, we will consider methodological approaches for convergence of accounting and tax accounting and financial results in both of these taxation regimes. The financial result is a summary indicator of the activity of the economic entity for a certain period, which is defined as the difference between the income and expenses of the organization. The financial result is not only the amount of profit remaining at the disposal of the economic entity or the amount of loss received according to the results of the reporting period, but also the basis for calculating various derivative indicators characterizing the activity of the entity, such as profitability of sales, profitability of assets and financial sources. Thus, the category of "financial results" is not only one of the central concepts of accounting, but also one of the concepts of economic analysis and management, which connect accounting processes with the mechanism of making management decisions aimed at increasing business profitability through the calculation, analysis and forecasting of various economic indicators. Thus, when choosing an accounting method for business objects and organizing tax accounting, it is necessary to remember that the convergence of these types of accounting can contribute to an increase in the tax burden. The tax burden may increase the price of the product. And this is an undesirable moment in the economy of any enterprise. At the same time, conducting separate accounting and tax accounting creates significant difficulties in organizing control over the correctness and completeness of the reflection of income and expenses in tax accounting and in forming tax calculations for income tax. In our opinion, it is necessary to bring both types of accounts as close to each other as possible in order to eliminate all inconsistencies between the accounts. The research of the problem of establishing an interconnected system of accounting of financial results by integrating tax accounting into financial accounting on the basis of the principle of prevailing requirements of tax legislation has not yet been carried out. Meanwhile, the need to develop this problem for commercial organizations is becoming urgent. The main purpose of reporting financial results is to provide the necessary information to all users, regardless of their means. It consists in the desire of the organization to expand the user base as much as possible. Therefore, the precise determination of the form of the report on financial results, as well as the composition of each of its sections and lines, is a priority issue in the preparation of accounting regulatory documents. Both accounting and information processing technology, in connection with the emergence of new market mechanisms, require periodic analysis of all components of the profit and loss statement, starting from the content of each line to the structure of the report. This will make it possible to identify new perspectives in the theory and practice of accounting at the initial stage, to create a fertile ground for the development of these trends. Keywords: financial results, income accounting, expense accounting, deferred taxes, simplified tax systemAccounting of financial results and tax accounting play an important role in solving the problems facing the enterprise. The operation of any economic entity during a certain period of time is characterized by a final indicator as a financial result. The activity of any organization is aimed at obtaining profit from the financial activity, which is the main goal. Studying the concept of "financial result" allows the management of the economic entity to get detailed information about the organization's financial condition, profitability, competitiveness in the goods and services markets. The problem of the economic content of the concept of "financial result" of an economic subject requires precise justification. Among many authors in the field of economic analysis and financial management, there is no unified approach to defining this concept. In this regard, the article is devoted to the directions of improving the relations of accounting and tax accounting of financial results. Modeling of accounting information for financial and tax reports according to financial results, methodical methods of approximation of accounting, tax accounting and financial results were touched upon in the study. One of the most urgent issues is the convergence of accounting and tax accounting of financial results for organizations that are in the main taxation regime, that is, that pay income tax. However, for organizations in other special regimes, the question of increasing the analytical support of data on financial results is incredibly relevant. Therefore, we will consider methodological approaches for convergence of accounting and tax accounting and financial results in both of these taxation regimes. The financial result is a summary indicator of the activity of the economic entity for a certain period, which is defined as the difference between the income and expenses of the organization. The financial result is not only the amount of profit remaining at the disposal of the economic entity or the amount of loss received according to the results of the reporting period, but also the basis for calculating various derivative indicators characterizing the activity of the entity, such as profitability of sales, profitability of assets and financial sources. Thus, the category of "financial results" is not only one of the central concepts of accounting, but also one of the concepts of economic analysis and management, which connect accounting processes with the mechanism of making management decisions aimed at increasing business profitability through the calculation, analysis and forecasting of various economic indicators. Thus, when choosing an accounting method for business objects and organizing tax accounting, it is necessary to remember that the convergence of these types of accounting can contribute to an increase in the tax burden. The tax burden may increase the price of the product. And this is an undesirable moment in the economy of any enterprise. At the same time, conducting separate accounting and tax accounting creates significant difficulties in organizing control over the correctness and completeness of the reflection of income and expenses in tax accounting and in forming tax calculations for income tax. In our opinion, it is necessary to bring both types of accounts as close to each other as possible in order to eliminate all inconsistencies between the accounts. The research of the problem of establishing an interconnected system of accounting of financial results by integrating tax accounting into financial accounting on the basis of the principle of prevailing requirements of tax legislation has not yet been carried out. Meanwhile, the need to develop this problem for commercial organizations is becoming urgent. The main purpose of reporting financial results is to provide the necessary information to all users, regardless of their means. It consists in the desire of the organization to expand the user base as much as possible. Therefore, the precise determination of the form of the report on financial results, as well as the composition of each of its sections and lines, is a priority issue in the preparation of accounting regulatory documents. Both accounting and information processing technology, in connection with the emergence of new market mechanisms, require periodic analysis of all components of the profit and loss statement, starting from the content of each line to the structure of the report. This will make it possible to identify new perspectives in the theory and practice of accounting at the initial stage, to create a fertile ground for the development of these trends. Keywords: financial results, income accounting, expense accounting, deferred taxes, simplified tax systemasdadadddsxdAccounting of financial results and tax accounting play an important role in solving the problems facing the enterprise. The operation of any economic entity during a certain period of time is characterized by a final indicator as a financial result. The activity of any organization is aimed at obtaining profit from the financial activity, which is the main goal. Studying the concept of "financial result" allows the management of the economic entity to get detailed information about the organization's financial condition, profitability, competitiveness in the goods and services markets. The problem of the economic content of the concept of "financial result" of an economic subject requires precise justification. Among many authors in the field of economic analysis and financial management, there is no unified approach to defining this concept. In this regard, the article is devoted to the directions of improving the relations of accounting and tax accounting of financial results. Modeling of accounting information for financial and tax reports according to financial results, methodical methods of approximation of accounting, tax accounting and financial results were touched upon in the study. One of the most urgent issues is the convergence of accounting and tax accounting of financial results for organizations that are in the main taxation regime, that is, that pay income tax. However, for organizations in other special regimes, the question of increasing the analytical support of data on financial results is incredibly relevant. Therefore, we will consider methodological approaches for convergence of accounting and tax accounting and financial results in both of these taxation regimes. The financial result is a summary indicator of the activity of the economic entity for a certain period, which is defined as the difference between the income and expenses of the organization. The financial result is not only the amount of profit remaining at the disposal of the economic entity or the amount of loss received according to the results of the reporting period, but also the basis for calculating various derivative indicators characterizing the activity of the entity, such as profitability of sales, profitability of assets and financial sources. Thus, the category of "financial results" is not only one of the central concepts of accounting, but also one of the concepts of economic analysis and management, which connect accounting processes with the mechanism of making management decisions aimed at increasing business profitability through the calculation, analysis and forecasting of various economic indicators. Thus, when choosing an accounting method for business objects and organizing tax accounting, it is necessary to remember that the convergence of these types of accounting can contribute to an increase in the tax burden. The tax burden may increase the price of the product. And this is an undesirable moment in the economy of any enterprise. At the same time, conducting separate accounting and tax accounting creates significant difficulties in organizing control over the correctness and completeness of the reflection of income and expenses in tax accounting and in forming tax calculations for income tax. In our opinion, it is necessary to bring both types of accounts as close to each other as possible in order to eliminate all inconsistencies between the accounts. The research of the problem of establishing an interconnected system of accounting of financial results by integrating tax accounting into financial accounting on the basis of the principle of prevailing requirements of tax legislation has not yet been carried out. Meanwhile, the need to develop this problem for commercial organizations is becoming urgent. The main purpose of reporting financial results is to provide the necessary information to all users, regardless of their means. It consists in the desire of the organization to expand the user base as much as possible. Therefore, the precise determination of the form of the report on financial results, as well as the composition of each of its sections and lines, is a priority issue in the preparation of accounting regulatory documents. Both accounting and information processing technology, in connection with the emergence of new market mechanisms, require periodic analysis of all components of the profit and loss statement, starting from the content of each line to the structure of the report. This will make it possible to identify new perspectives in the theory and practice of accounting at the initial stage, to create a fertile ground for the development of these trends. Keywords: financial results, income accounting, expense accounting, deferred taxes, simplified tax system