ENSURING ACCOUNTING AND ANALYSIS OF REVENUE AND EXPENSES IN THE ENTERPRISE PROFIT MANAGEMENT SYSTEM

Abstract

The article reveals the role and importance of accounting and analysis of revenue and expenses in the system of managing the financial results of the enterprise, article reasons the need to improve such support, taking into account the specifics of the work and the industry characteristics of the business entity as a necessary condition for high-quality profitability management. It is proved that ensuring accounting and analysis is a structural element of the information support of the enterprise as well as that it is a coherent information system for providing high-quality and timely financial and economic information to dedicated external and internal stakeholders in order to make informed management decisions aimed at the sustainable development of the business entity. It is noted that financial reporting encompassing set of financial statements is prepared on the basis of financial accounting data in order to provide external and internal stakehodlers with generalized information about the financial condition of a business entity in a form that is convenient and comprehensible to make certain business decisions. It is determined that the main purpose of ensuring accounting and analysis in the management system is the collection, generalization, and analysis of information about the external and internal environment of the enterprise with further preparation and adoption of balanced management decisions to improve the efficiency of the business entity. The economic meaning of revenue and expenses is revealed, attention is focused on the importance of research of latter due to the direct impact on the overall financial result of the enterprise. The relevance and prospects of the analysis of the financial chain "revenue – expenses – bottom line" in the system of evaluation of the effectiveness of the enterprise are proved, the factor model of the relationship of the elements of this chain is presented in general form for a deeper analysis of net profit as the main effective indicator of the activity of a business entity: the yield of net revenue, costs per hryvnia of product output and cost-effectiveness. Taking into account the fact that the financial results are a generalizing indicator in the system of assessment of the enterprise, it is noted that ensuring accounting and an analysis of revenue and expenses in the system of managing net profit should be considered comprehensively, taking into account the dynamics of previous periods, assessing indicators of financial condition, as well as using various methods and factor models, taking into account the industry characteristics of the business entity. It is proved: presently improving the efficiency of enterprises is impossible without ensuring high-quality accounting and analysis of the financial chain "revenue – expenses – net profit (loss)" in the profit management system, based on the use of modern forms, methods, and principles of forming unbiased, complete, timely, comprehensible, and useful accounting and analytical information about the activities of the enterprise and its profits.