Improving Reflection Of Information About Cash And Equivalents In The Accounting Balance Sheet On The Basis Of International Standards

Abstract

One of the most important financial assets in the total assets of enterprises is cash. Sufficient funds are also necessary for the normal implementation of each stage of capital circulation. Implementation of such a complex task requires chronological and systematic management of cash flows.

Timely availability of funds in the enterprise gives the right to purchase or exchange other necessary resources (assets) as a financial asset, as well as the ability to pay the due obligations and carry out transactions. Therefore, this type of financial assets is the basis for exercising the right to timely attract other resources needed by the subject from the market.

Information on cash and cash equivalents presented in the financial statement in the form of an accounting balance sheet is one of the main sources for partners to study and evaluate the financial condition of the enterprise.

The latest changes in the national economy, i.e. the acceleration of the entry of enterprises to foreign markets, the entry of foreign partners into our country, create the need to implement financial reporting information based on internationally accepted standards or practices.

This idea fully applies to the accounting of cash and cash equivalents and the procedure for their reflection in the balance sheet. There are a number of problems in this facility, the optimal solution of which is considered as one of the urgent issues that are waiting for their solution in the financial accounting and reporting system. One of the important measures in this regard is to separate the money and funds equivalent to free and limited description and to reflect them in the accounting balance sheet.