The concept of accounting for contractual obligations in the field of accounting for financial instruments

Abstract

The modern market economy reasonably imposes new and more complex accounting requirements. More precisely, the requirements for inclusion in the subject of accounting of its new objects, providing a reflection of the market conditions of their changes and the impact on the financial results of organizations. The solution of this problem, in part, can be facilitated by the concept of accounting for contractual obligations, which allows to include in the field of accounting the reflection of contractual law and contractual obligations preceding the occurrence of facts of economic life, as well as those actions of the organization that provide recognition and evaluation of fait accompli facts of economic life. The concept of accounting for contractual obligations considered in the article fits into the content of International Standards on Accounting for Financial Instruments, accounting for revenue under contracts with buyers, and, most importantly, finds its methodological justification in the Conceptual Framework for the presentation of financial statements.