ORGANIZATIONAL AND METHODOLOGICAL ASPECTS OF THE ACCOUNTING POLICY OF LOGISTICS COMPANY UNDER IFRS

Abstract

Logistics is an important component of the efficient functioning of the global economy. The current market conditions are characterized by the constant emergence of risks, threats, challenges and obstacles that significantly affect the operations of Ukrainian logistics companies. However, the growing need for the continuous movement of goods and services between continents and countries provides companies with various opportunities and prospects for global development. Entering international markets for companies is accompanied by the need to maintain accounting and prepare financial statements in accordance with uniform principles, such as International Financial Reporting Standards. Their use will help attract investors and increase the number of stakeholders, partners, customers and other users of financial information. The basic principles, rules and practices of accounting and reporting are set out in the company's accounting policy, which is a key tool in creating a unified accounting system for the company. Each company has its own peculiarities that should be taken into account when formulating the accounting policy. Therefore, the purpose of this study is to disclose the main organizational and methodological aspects of the accounting policy of a logistics company in accordance with IFRS. In the course of the study, general scientific methods were used, in particular, methods of abstraction, theoretical generalization and comparison to reveal the essence of accounting policy and its components, review of the regulatory framework and special sources. Induction, deduction, observation, and special methods were used to study the specific accounting objects of logistics companies and the peculiarities of reflecting information about them in accounting policies and reports. The paper characterizes the organizational and methodological aspects of forming an accounting policy at an enterprise in accordance with IFRS and compares them with Ukrainian regulations and standards. The author reveals the peculiarities of accounting for specific accounting items for logistics companies, such as fixed assets, lease, inventories, income and expenses in terms of the cost of services rendered. With respect to these objects, the author substantiates the list of information that should be contained in the accounting policy and relevant annexes thereto, and also emphasizes the importance of forming a chart of accounts and maintaining analytics, for which proposals were made in the context of income and expense accounts. The practical significance of this work lies in the development of recommendations and proposals for improving the accounting policy of logistics companies. They can be used in existing enterprises in this industry for more efficient management.