IDENTIFICATION OF ECONOMIC AND LEGAL PRECONDITIONS FOR RENT ACCOUNTING

##plugins.themes.bootstrap3.article.main##

##plugins.themes.bootstrap3.article.sidebar##

  Sergey Bardash

  Tetiana Osadcha

Abstract

The urgency of the research consists in the existence of challenging issue regarding the equitable distribution of existing natural resources between existing and future generations, the question of formation, distribution, and use of rent. The economic theory clearly identifies features of rental relations at the government level, but there is no information on accounting reflection of rent as one of the types of income of an economic entity in bookkeeping. Level of information content about rental income remains problematic. This leads to a targeted reduction in the availability of information on income from the use of rental resources since none of the forms of existing types of reporting provides any information on any type of rent. The purpose of the research was to specify the accounting component of rent as an economic category, as well as to determine legal and economic preconditions for rent accounting. The methodological basis of the research is the dialectical method of knowing the essence of the rent and rental relations; general scientific methods of scientific knowledge (analysis, abstracting, synthesis, generalization), bibliographic method of transformation of economic essence and legal content of rent and rental relations, analysis of legal acts in the part of implementation of the contract of rent, method of grouping of economic and legal preconditions for establishing an effective segment of rent accounting. Scientific results. It was established that transformation of the modern mechanism of fragmentary regulation of rental should occur systematically, with obligatory improvement of accounting methods of rent resources and development of a method for calculating rental income, as well as a taxation system of extra profits taking into account specific sources and conditions for the formation of various types of rent. With the purpose of transformation of rental relations in the part of the improvement of accounting of income including rents, legal and economic preconditions for rent accounting are identified. In particular, it was established that the legal basis for accounting of the results of rental relations is the identification of the entity, to which the object belongs (rent-forming factor (resource)); of the entity that uses the object (rent-forming factor (resource)); of the mechanism of implementation of rental relations; of an indisputable reason for calculating the rental factor (resource), – a contract of rent or other legal instrument regulating rental relations. The main economic preconditions necessary and sufficient for the organization and keeping of rent accounting by the economic entity are as follows: an object, – the rent-forming factor (resource), which the economic entity-rent payer uses (exploits); economic benefit from the use (operation) of such an object; income of the entity that uses (exploits) such an object that includes the rent; rent estimation for determining rental income, a share of rent in income from a certain type of activity and subsequent implementation of rent payment; documenting and accounting of rent accounts (rental income) and rent payment, followed by their reflection in the financial statements of the business entity-rent payer. The practical significance of the research is to identify preconditions for the formation of a rent accounting methodology, as well as to form information support for analysing the competitiveness of business entities and determining their financial stability.

How to Cite

Bardash, S., & Osadcha, T. (2018). IDENTIFICATION OF ECONOMIC AND LEGAL PRECONDITIONS FOR RENT ACCOUNTING. Baltic Journal of Economic Studies, 4(1), 31-38. https://doi.org/10.30525/2256-0742/2018-4-1-31-38
Article views: 763 | PDF Downloads: 122

##plugins.themes.bootstrap3.article.details##

Keywords

rental relations, rent, rent resource, contract of rent, rent accounting

References

Anomalii v tsyvilnomu pravi Ukrainy : navch.-prakt. posibnyk (2007). [Anomalies in the civil law of Ukraine : practical study guide] EiC R. A. Maidanyk. K. : Justinian, 912 p.

Apanasiuk M. P. (2004). Dohovir renty : avtoref. dys. na zdobuttia nauk. stupenia kand. yuryd. nauk: spets. 12.00.03 [Contract of rent : extended thesis abstract for Cand. Sc. ( Jurisprudence): 12.00.03]. Kharkiv National University of Internal Affairs. Kharkiv, 15 p.

Bazylevych V.D. (2008). Makroekonomika [Macroeconomics: Textbook]. 4th Edition, Revised and Expanded. K.: Znannia, 743 p.

Baliuk V. M. Suttievi umovy dohovoru renty [Essential terms of the contract of rent] [Electronic resource] Available at: http://www.nbuv. gov.ua/portal/soc_gum/znpkhnpu/Pravo/2008_10/Balyuk. pdf. – Title from the screen.

Bodnar O.V. (2017) Renta v systemi vartisnykh kontseptsii [Rent in the system of value concepts] Scientific Herald of Kherson State University. Series: Economics Sciences. Issue 23, p. 65-69.

Vehera S.H. (2011). Razvytye metodolohyy bukhhalterskoho ucheta zemly v kontekste sovremennoi teoryy renty [Development of the methodology of land accounting in the context of modern theory of rent] [monograph]. Novopolotsk: PSU, 464 p.

Hrazhevska A. (2015). Struktura ta kharakterni oznaky systemy suchasnykh rentnykh vidnosyn [Structure and characteristic features of the system of modern rental relations]. Bulletin of Taras Shevchenko National University of Kyiv. Economics. 11 (176), p. 13-16.

Hurovska T.V. (2011). Teoriia renty: istoriia ta suchasnist [Theory of rent: history and the present] Herald of Khmelnytskyi National University. Economic Sciences, Vol. 1, №6, p. 7-11.

Dvihun A.O. (2008). Rentna polityka ta yii rol u realizatsii finansovoi stratehii derzhavy [Rent policy and its role in the implementation of the financial strategy of the state] World of Finance. Issue 3, p. 73-77.

Economic Dictionary (1973). Edited by P.I. Bahrii, S.I. Dorohuntsov. Chief editorial board of the Ukrainian Soviet Encyclopaedia of the Academy of Sciences of the Soviet SSR. Kyiv, 622 p.

Economic Encyclopaedic Dictionary (2006). In 2 Vols. Vol. 2 / edited by S.V. Mochernyi. Lviv: Svit, 568 p.

Zhuk V.M. (2012). Bukhhalterskyi oblik: shliakhy vyrishennia problem praktyky i nauky [Accounting: ways to solve problems of practice and science] [monograph] K.: NSC “Institute of Agrarian Economics”, 454 p.

Zamula I.V. (2010). Bukhhalterskyi oblik ekolohichnoi diialnosti u zabezpechenni stiikoho rozvytku ekonomiky [Accounting of ecological activity in ensuring sustainable development of the economy][monograph]. Zhytomyr: ZhSTU, 440 p.

Zakharchuk O.A. (2011). Rentnyi kharakter platezhiv za resursy [The rent character of payments for resources]. Ekonomika ta Derzhava, №3, p. 89-91.

Zdan (Melnyk) S.I. (2011). Problemy vidobrazhennia rentnoho dokhodu promyslovykh pidpryiemstv v bukhhalterskomu obliku [Problems of reflection of rent income of industrial enterprises in accounting]. International collection of scientific works. Issue 1(19), p. 178-183.

Zeldner A.H. (2003). Hosudarstvo i ekonomyka: Faktory rosta: monohrafyia [State and economy: growth factors: monograph] RAS, Institute of Economics. M.: Nauka, 214 p.

Convention between the Government of Ukraine and the Government of the Italian Republic on Avoidance of Double Taxation of Income and Capital and Prevention of Tax Evasion (Art. 18) Kyiv, 26 February 1997 [Electronic resource]. Available at: www.zakon.rada.gov.ua

Convention between the Government of Ukraine and the Government of the Republic of India on Avoidance of Double Taxation and Prevention of Tax Evasion with Respect to Taxes on Income and Capital (Art. 19) Kyiv, 7 April 1999 [Electronic resource]. Available at: www.zakon.rada.gov.ua

Convention between the Government of Ukraine and the Government of the Federal Republic of Brazil on Avoidance of Double Taxation and the Prevention of Tax Evasion with Respect to Income Taxes (Art. 18) Kyiv, 16 January 2002 [Electronic resource]. Available at: www.zakon.rada.gov.ua

Kudriashova R.P. (2003). Renta v sovremennoi ekonomyke Rossyy: teoryia i praktyka: monohrafyia [Rent in the modern Russian economy: theory and practice: monograph] Samara State Economic Academy – Samara: Publishing of Samara State Economic Academy, 149 p.

Kuzyk B.N. (2004). Russia – 2050: Innovative Breakthrough Strategy. Economics, 632 p.

Lukinov I.I. (1964). Tsenoobrazovanye y rentabelnost proyzvodstva selskokhoziaistvennykh produktov [Pricing and profitability of agricultural production] M.: Kolos, 423 p.

Meshcherov V.A. (2006). Sovremennye rentnye otnoshenyia: teoryia, metodolohyia i praktyka khoziaistvovanyia [Modern rental relations: theory, methodology, and practice of management] Economic Sciences, 312 p.

Moshenets O.V. (2009). Evoliutsiia rentnykh vidnosyn: vid klasychnoi shkoly do teorii suspilnoho vyboru [Evolution of rental relations: from classical school to the theory of social choice]. Agrosvit, №7, April, p. 41-44.

Osadcha T.S. (2016). Metodolohiia bukhhalterskoho obliku ta analizu renty: monohrafiia [Accounting methodology and analysis of rent: monograph]. Zhytomyr: PE “Ruta”, 292 p.

Ostapchuk T.P. (2012). Zemelna renta v systemi bukhhalterskoho obliku [Land rent in the accounting system] Herald of Donetsk National University of Economics and Trade named after Mykhailo Tugan-Baranovsky. № 3 (55), p. 376-382.

Pankov D.A. (2009). Metodolohichni problemy obliku zemli i zemelnoi renty renty [Methodological issues of land registration and land rent] Problems of the theory and methodology of accounting, control, and analysis. International collection of scientific works. Series: Accounting, control, and analysis. Issue 3 (15). Zhytomyr: ZhSTU, p. 36-43.

Paskhaver B.I. (1972). Rentni problemy v SRSR [Rent problems in the USSR] K.: Naukova Dumka, 191 p.

Pospolitak V.V. Khanyk-Pospolitak R.Yu. (2010). Aktualni pytannia dohovoru renty [Topical issues of the rental agreement] Scientific Papers. Volume 103. Legal Sciences, p. 85-90.

Sagaidak A.E. (1992). Ekonomycheskyi mekhanyzm realyzatsyy zemelnoi sobstvennosty v uslovyiakh rynka: avtoreferat dys. na soyskanye uch. step. d.e.n. [The economic mechanism for the realization of land property under market conditions: extended thesis abstract for Dr. Sc (Economics)] M., 36 p.

Sukhanov E. A. (2005). Civil law: in 4 Vols. 3rd Edition, Revised and Expanded. M.: Wolters Kluwer, Vol. 3: Law of obligations, 800 p.

Zaichuk O.V., Kopylenko O.L., Onishchenko N.M. [at al.] (2009). Modern Legal Encyclopaedia. Legislation Institute of the Verkhovna Rada of Ukraine. K.: Yurinkom Inter, 384 p.

Agreement between Ukraine and the Republic of Tajikistan on Avoidance of Double Taxation and Prevention of Evasion of Taxes on Income and Capital (Art. 18) Yalta, 7 September 2002 [Electronic resource]. Available at: www.zakon.rada.gov.ua

Shyshka R.B. (2006). Civil law of Ukraine: a series of lectures: in 6 Vols. Kharkiv : Espada,– Vol. 5. Book 2. Contractual law : P. 1. General terms and agreements for property transfer, p. 281–307.

Bilousov Yu.V., Lozinska S.V., Rusu S.D. (2005). Civil law of Ukraine: study guide. K.: Pretsedent, 448 p.

Kharytonov Ye.O., Kalitenko O.M. (2004). Civil Code of Ukraine: Commentary. Odesa: Yurydychna Literatura, 1110 p.

Shpychak O.M. (2000). Prices, costs, profits of agricultural production and infrastructure of food markets of Ukraine. K.: IAE AASU, 585 p.