Improving the accounting of period expenses

Abstract

This article scientifically examines the issues of organizing the accounting of period expenses of economic entities, disclosing their economic essence, and identifying problems in the current accounting practice. Period expenses — i.e., selling expenses, administrative expenses, and other operating expenses — play an important role in forming the financial result of an enterprise; however, in practice, there are a number of inconsistencies in their recognition, allocation, and presentation in financial statements. The study provides a comparative analysis of the differences between the National Accounting Standards of the Republic of Uzbekistan (NAS), the provisions of the Tax Code, and International Financial Reporting Standards (IFRS, including IAS 1 and IAS 38). Using the example of actual financial indicators of republican enterprises and state-participated organizations, including statistics of loss-making entities, the practical significance of controlling period expenses is demonstrated.