PECULIARITIES OF ACCOUNTING OF FINANCIAL RESULTS OF SMALL ENTERPRISES AND DIRECTIONS OF ITS IMPROVEMENT

Abstract

Small businesses play an important role in the development of the economy, so this topic is quite relevant today. For all users of accounting information, the main indicator of an enterprise's activity that interests them the most is the financial result. It shows the efficiency and effectiveness of the company's business activities. In addition to the current state of the company, financial results indicate its prospects in the future. Accounting for financial results is an important aspect of a company's successful operation and ensuring a stable financial position. Therefore, it is necessary to constantly improve the process of accounting for financial results, and not only. This article is aimed at studying the peculiarities of accounting for financial results of a small enterprise and the directions of its improvement. It has been researched that the peculiarities of accounting at small enterprises include a number of special requirements and rules that take into account its specificity and size. Accounting at small enterprises is carried out in accordance with the relevant established standards and a simplified system of registration and reporting is applied. The main aspects that affect the accounting of financial results in small enterprises, such as a simplified taxation system, limited resources and flexibility of management, are considered. The main problems faced by small enterprises in the process of accounting for financial results are analyzed. Specific recommendations for further improvement of financial performance accounting systems are proposed. Such areas of improvement may include the use of digital technologies, improving the financial literacy of staff and strategic planning. This can be used to improve the methodology and practice of accounting for financial results in small enterprises, which will allow them to increase the efficiency of management and decision-making. Prospects for further research in this area may include the following areas: the impact of the legislative environment on the accounting of small businesses, the use of technology in financial accounting, and the analysis of financial performance and problems of small businesses. In general, research on this topic can contribute to increasing the efficiency and competitiveness of small businesses, as well as their participation in economic development.