Chernetska Olha, PhD (Economics), Associate Professor of the Department of Accounting, Taxation and Financial and Economic Security Management, Dniprovsky State Agrarian and Economic University, Dnipro, Ukraine

ORCID ID: 0000-0002-4691-636X
e-mail: o.v.chernetska@gmail.com

Features of the Formation of Financial Results in the Account of Individuals Entrepreneurs

Abstract. Introduction. The sole proprietor is an economic entity and must keep an accounting and primary record of his activities. The basis for taxation of individuals – entrepreneurs on the simplified taxation system is the received income, the costs incurred do not reduce such a base, so the main attention is paid to fixing information on the formation of income entrepreneur.

Purpose. The purpose of the article is to analyze the legislative framework for the formation of financial results of economic activity of individuals – entrepreneurs and outline the features of their accounting reflection.

Results. The article emphasizes the tax status of individual entrepreneurs and informational focus on normative acts and explanations of tax specialists, specialized accountants, practicing accountants in the form of seminars or webinars. Generalized incomes of individuals – entrepreneurs, received in cash or using cards. The emphasis is placed on the conditions in which individual entrepreneurs – single tax payers need to establish a payment transaction logger and generate a fiscal check for each purchase, paid in cash or by card. The peculiarities of application of settlement operations registrar are presented. Primary documents are grouped, which should be considered as an entrepreneur when receiving income. The ban on receiving business income from personal cards is noted. Requirements for keeping the Income and Expense Accounting Book and Income Accounting Books are described. It was emphasized on the necessity of forming the accounts of an individual entrepreneur according to the data of the Income Accounting Book and the supporting primary documents. The author highlights the peculiarities of the formation of financial results of activity in the account of individuals – entrepreneurs with reference to the relevant legislative act. The schematically highlighted in the article the aspects of accounting reflection of the process of formation of financial results of activity of individuals – entrepreneurs are summarized.

Conclusions. The dependence of the accounting reflection of individual incomes – entrepreneurs on the peculiarities of activity according to the requirements of the legislation is summarized. The conclusion is made on the necessity of continuous monitoring of changes in the current legislation and maximum consideration of them in accounting of an individual entrepreneur.

Keywords: individual-entrepreneur; accounting; income; expenses; financial results; taxation; reporting.

References:

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