{"id":11487,"date":"2019-05-20T11:26:46","date_gmt":"2019-05-20T08:26:46","guid":{"rendered":"https:\/\/modecon.mnau.edu.ua\/?p=11487"},"modified":"2019-05-21T11:34:54","modified_gmt":"2019-05-21T08:34:54","slug":"features-of-the-formation-of","status":"publish","type":"post","link":"https:\/\/modecon.mnau.edu.ua\/en\/features-of-the-formation-of\/","title":{"rendered":"Chernetska Olha, Features of the Formation of Financial Results in the Account of Individuals Entrepreneurs"},"content":{"rendered":"

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JEL<\/strong> Classification:<\/strong> H 20, \u041d 30, K 34, M 21, M 41.<\/td>\nDOI<\/b>: https:\/\/doi.org\/10.31521\/modecon.V14(2019)-44<\/a><\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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Chernetska Olha<\/strong>, PhD (Economics), Associate Professor of the Department of Accounting, Taxation and Financial and Economic Security Management, Dniprovsky State Agrarian and Economic University, Dnipro, Ukraine<\/p>\n

ORCID ID<\/strong>: 0000-0002-4691-636X<\/a>
\ne-mail<\/strong>: o.v.chernetska@gmail.com<\/a><\/p>\n

Features of the Formation of Financial Results in the Account of Individuals Entrepreneurs<\/h2>\n

 <\/p>\n

Abstract. Introduction<\/strong>. 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.<\/p>\n

Purpose<\/strong>. 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.<\/p>\n

Results<\/strong>. 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.<\/p>\n

Conclusions<\/strong>. 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.<\/p>\n

Keywords<\/strong>: individual-entrepreneur; accounting; income; expenses; financial results; taxation; reporting.<\/p>\n

References:<\/strong><\/p>\n

    \n
  1. Verkhovna Rada of Ukraine (2003). Economic Code of Ukraine (Act No. 436 – IV, January 16). Retrieved from https:\/\/zakon.rada.gov.ua\/laws\/show\/436-15 [in Ukrainian].<\/li>\n
  2. Verkhovna Rada of Ukraine (1999). About Accounting and Financial Reporting in Ukraine (Act No. 996-XIV, July 16). Retrieved from http:\/\/zakon1.rada.gov.ua\/laws\/show\/996-14 [in Ukrainian].<\/li>\n
  3. Verkhovna Rada of Ukraine (1995). About application of settlement transactions in trade, public catering and services registrars (Act No. 266\/ 95, July 6). Retrieved from https:\/\/zakon.rada.gov.ua\/laws\/show\/265\/95-%D0%B2%D1%80 [in Ukrainian].<\/li>\n
  4. State fiscal service of Ukraine (2018). As for the reporting by the commissioner (the payer of the unified tax group 3), the receipt of cash from the sale of the goods to the accountant in the relevant accounting books (Order No. 2101\/\u0414\/99-99-14-05-01-14, May 11). Retrieved from https:\/\/www.profiwins.com.ua\/uk\/letters-and-orders\/ink\/13273-2101-18.html [in Ukrainian].<\/li>\n
  5. National Bank of Ukraine (2003) About the procedure for opening and closing accounts of bank clients and correspondent accounts of banks – residents and non-residents (Order No. 492, November 12). Retrieved from https:\/\/zakon.rada.gov.ua\/laws\/show\/z1172-03 [in Ukrainian].<\/li>\n
  6. Ministry of Finance of Ukraine (2015). On approval of the forms of accounting books and books accounting income and expenditure and their management (Order No. 579, June 19). Retrieved from https:\/\/zakon.rada.gov.ua\/laws\/show\/z0800-15 [in Ukrainian].<\/li>\n
  7. Ministry of Finance of Ukraine (2013). On Approval of the Form of the Accounting Book of Income and Expenses, which are conducted by natural persons – entrepreneurs, except for persons who have opted for a simplified taxation system, and individuals who conduct independent professional activity, and the Procedure for its conduct (Order No. 481, September 16). Retrieved from https:\/\/zakon.rada.gov.ua\/laws\/show\/z1686-13 [in Ukrainian].<\/li>\n
  8. Verkhovna Rada of Ukraine (2003). Tax Code of Ukraine (Act No. 2755\u2013VI, December 2). Retrieved from http:\/\/zakon2.rada.gov.ua\/laws\/show\/2755-17 [in Ukrainian].<\/li>\n
  9. National Bank of Ukraine (2017). On the conduct of cash transactions in the national currency in Ukraine (Order No. 148, December 29). Retrieved from https:\/\/zakon.rada.gov.ua\/laws\/show\/v0148500-17 [in Ukrainian].<\/li>\n
  10. Ministry of Finance of Ukraine (2016). About the form and content of settlement documents (Act No. 13, January 21). Retrieved from https:\/\/zakon.rada.gov.ua\/laws\/show\/z0220-16 [in Ukrainian].<\/li>\n
  11. Cabinet of Ministers of Ukraine (2017). On approval of the list of groups of technically complex household goods that are subject to warranty repair (maintenance) or warranty replacement, for the purpose of application of accountants of settlement operations (Decree No. 231, March 16). Retrieved from https:\/\/zakon.rada.gov.ua\/laws\/show\/231-2017-%D0%BF [in Ukrainian].<\/li>\n
  12. President of Ukraine (1995). On the application of penalties for violating the norms for regulating the circulation of cash (Decree No. 436, June 12). Retrieved from https:\/\/zakon.rada.gov.ua\/laws\/show\/436\/95 [in Ukrainian].<\/li>\n<\/ol>\n

    [\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]Received:<\/strong> 27 March 2019<\/p>\n

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    Chernetska Olha (2019). Features of the Formation of Financial Results in the Account of Individuals Entrepreneurs . Modern Economics<\/em>, 14(2019), 285-289. DOI: https:\/\/doi.org\/10.31521\/modecon.V14(2019)-44.<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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    [vc_row][vc_column][vc_row_inner][vc_column_inner][vc_column_text] JEL Classification: H 20, \u041d 30, K 34, M 21, M 41. DOI: https:\/\/doi.org\/10.31521\/modecon.V14(2019)-44 [\/vc_column_text][\/vc_column_inner][\/vc_row_inner][vc_column_text] 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
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