IDENTIFICATION OF THE IMPACT OF GLOBALIZATION ON THE DEVELOPMENT OF ACCOUNTING METHODOLOGY

Abstract

The relevance of the research consists in the significant lag behind the economies of post-Soviet countries from countries of the world, which play the role of driving forces of global economic globalization. Incomplete transformation of the institution of property rights, including the rights to specific factors of production, distorted perception of the state participation in the regulation of economic relationships, cause a fragmentary reflection of facts of business life of business units by the accounting system. This shortcoming can be eliminated by identifying the advantages, feasibility of the counterstand and measures to involve the economy of Ukraine into the process of economic globalization, as well as determining the priority trends of the transformation of the property institution with the subsequent revision of the accounting methodology. The purpose of the research was to identify the impact of globalization on the development of accounting methodology due to institutional changes in property ownership in the field of management and outline the prerequisites for recognizing the rent as an accounting object. The methodological basis of the research is the dialectical method of knowledge of the essence, preconditions, and consequences of economic globalization as a whole, as well as for its individual subjects; general scientific methods of scientific knowledge (analysis, abstraction, synthesis, generalization) of possible influence of fundamentals and ideas of institutional theory, agency theory, and rent theory on the accounting methodology in order to outline grounds for recognizing the rent as a component of the income of a business unit. Scientific results. It is established that the development of globalization processes was accompanied by significant transformations of property relations and changing approaches to the analysis of activities, in particular, with regard to the use of resources, distribution and redistribution of income. Solving the problems associated with qualitative characteristics of accounting information depends on the implementation of accounting principles, in particular, the principle of the predominance of substance over form. The possibility of its practical application depends on the implementation of the fundamentals and ideas of institutional theory, agency theory and rent theory at the level of the accounting methodology. The stated approach will precondition a certain change in the economic status of a business unit, making it the owner or user of resources, taking into account the availability of certain elements of property rights, and will provide grounds for consideration of economic processes associated with the use of certain resources, the manifestation of rental relations, and the recognition of the income from them as a rent. Taking into consideration the fact that rent is one of the factors of production, theoretical researches in this field should be considered as a basis for research of trends of accounting development, in particular, as to the principles and criteria for recognition of income and assets. The practical significance of the research consists in the development of an income accounting methodology and the determination of financial results of the economic activity, as well as the formation of information support for analysing business unit competitiveness and determining its financial sustainability. Significance/originality. The obtained scientific results will form the prospects for further researches, which will consist in identifying the legal preconditions for rent accounting and determining the trends of the transformation of the property institution. This will contribute to the significant social and economic development of countries whose economies have long been in the command and administrative management format, as well as to the legal recognition of the actual economic preconditions for rent accounting.