ORGANIZATION OF ACCOUNTING FOR CONCESSION OPERATIONS AT THE CONCESSIONAIRE UNDER IFRS

Abstract

The article is devoted to the study of the main aspects of the organization of accounting for operations under concession agreements by the concessionaire under IFRS. The relevance of the study is due to the imperfection of the existing regulatory framework in the field of accounting for concession transactions, the growth of the number of concession agreements in the world, which requires the creation of unified approaches to accounting for operations under a concession agreement, and this, in turn, will ensure the comparability of financial information and facilitate the adoption of informed investment decisions. It is substantiated that the correct organization of accounting allows the concessionaire to effectively control financial indicators, manage risks and make timely informed management decisions. Given the specifics of the concession, there is a need to form a balanced structure of the system of accounting objects taking into account the features of the concession agreement. During the study, the main tasks and stages of organizing accounting for transactions under a concession agreement were determined. A structural and logical diagram of the components of organizing accounting for transactions under a concession agreement at the concessionaire was also built. It is substantiated that in order to create a reliable system for organizing accounting of operations under concession agreements, it is necessary to structure accounting objects in accordance with the concession agreement, taking into account its specifics (construction or modernization of the facility, procurement of resources, maintenance of the concession object, distribution of financial results, payment of concession payments, etc.), correctly determine income and expenses at different stages of the project, and it is also necessary to introduce analytical accounts to reflect the objects of the concession agreement in accounting. The use of electronic document management and CRM/ERP systems, open data platforms, cloud technologies, BI analytical platforms, and digital electronic signatures (DES) is also important, which will ensure transparent and timely exchange of information between the partners of the concession agreement, and digitalization will become a key element in organizing accounting of concession operations.