ACCOUNTING AND ANALYTICAL ASPECTS OF THE FINANCING OF HOUSING CONSTRUCTION IN UKRAINE

Abstract

The relevance of the study is primarily due to the massive destruction of cities, towns, villages in Ukraine due to military hostilities, so there is an urgent need to provide the population with living space. Since a significant part of housing construction customers are unable to fully finance housing construction at once, there is a need to find alternative sources of financing for housing construction. The choice of an appropriate mechanism for financing housing construction involves the preparation of relevant accounting and analytical information. The article considers the peculiarities of accounting and analytical support of housing construction financing in Ukraine in the context of the use of legal mechanisms for financing housing construction (through construction financing funds, real estate funds, collective investment institutions, by issuing targeted bonds of enterprises, through direct sale). It has been recorded that when choosing any of the mechanisms for financing housing construction, the customer (buyer), developer, investor, state permitting organizations, and insurance company usually cooperate on a contractual basis. Therefore, regardless of the chosen method of financing housing construction, the main documents are contracts, design estimates and acts (intermediate, general) of construction and installation works performed. The difference in the formation of accounting and analytical support is whether a separate legal entity is created on the basis of a financial institution or not for the financing of construction, as well as with whom the developer will have direct economic and settlement relations: with the fund (financing, investment) or with the customer of housing construction. It was noted that both in Ukraine and abroad, when financing housing construction, an important role is given to documentary evidence, in the absence of properly executed: contractual relations, confirming costs or financing documents, the financial institution, which usually acts as a principal, may completely or partially stop financing housing construction. That is why, when concluding construction contracts, all participants involved in residential construction must draw up the relevant documentation, which is a confirmation of both the execution of works and financing of the relevant stages of construction, as well as the transfer of ownership from the developer to the final buyer of the residential space.