On the organization of accounting for accounts receivable and accounts payable of commercial enterprises in accordance with international standards in modern conditions of economic development

UDC 657.1
DOI: 10.36871/u.i.k.2023.11.03.008

Authors

Saule T. Kurmanbayeva,
Gulnara B. Kyralieva,
International University of Innovative Technologies, Bishkek, Kyrgyz Republic

Abstract

The article discusses options for assessing accounts receivable and ways to reduce the negative effect of delayed payment from buyers. Valuation in accounting is the process of representing accounting objects in monetary units of measurement. In international practice, it is accepted that assets are accounted for at the purchase price, and written off at the sale price (disposal). Therefore, there is a division into the initial and subsequent assessment. As a rule, the initial assessment for liabilities is a reflection of actual costs, i.e. in the amount of the amount indicated on the invoice, and the subsequent amount in the amount of amortized costs using the effective interest rate method.

Keywords

Accounting policy, methodology, accounting, financial reporting, economic conditions, accounts receivable, credit policy, delay, valuation, profit, bad debt.