FINANCIAL AND ECONOMIC ASPECTS OF REGULATING THE CHARITABLE ACTIVITIES OF BUSINESS ENTITIES

Abstract

The scientific article defines the important role and significance of social processes and needs for the effective implementation of charitable activities by business entities. The main theories and approaches to evaluating the effectiveness of charitable and humanitarian investments have been studied. The importance of the effective organization of the accounting policy regarding the reflection of the specified processes and their documentation by the enterprise in accordance with regulatory provisions, standards and other legislative acts, taking into account the current state of the economy in Ukraine, was determined. The authors of the article researched the main approaches to defining and regulating the charitable activities of economic entities. It is also determined that economic entities within the scope of their activities must bear substantial responsibility for the intended use of the received assetsn addition, attention was drawn to the fact that the problems of transparent accounting, accounting and effective management of humanitarian and charitable receipts require more significant research precisely today as a result of the currently existing difficult situation in the country under martial law, which in turn involves the implementation of additional measures and improvement of the legislative framework in order to strengthen the control and monitoring of this field of activity. A significant element of the accounting method is reporting, which reflects the system of economic indicators for the reporting period. Therefore, as a result of the analysis of existing approaches to the attraction of charitable income, the essence and expediency of drawing up appropriate reporting forms for this type of activity was determined. The authors considered the peculiarities of the use of the specified financial and accounting documentation, as well as the importance of forming transparent and reliable accounting and reporting information about the intended use of the received assets. Such approaches will contribute to increasing the effectiveness of management decisions and determining strategic aspects of the development of charitable activities of business entities.