ACCOUNTING VALUATION POLICY FOR GOODS IN ENTERPRISES WITH INTERNATIONAL TRADE BUSINESS

Abstract

The main goal of the scientific article is to investigate the specific organizational and methodological problems related to the valuation of the goods in Bulgarian enterprises engaged in international trade business. The reasons determining significance of these problems in the context of growing economic globalization and the expansion of opportunities for Bulgarian enterprises to actively participate in the international trade are systematized.
The goods occupy a significant share in the total amount of assets of enterprises whose main activity is carrying out international trade business. Therefore, the valuation of the stock of goods plays an essential role in determining the total value of the resources of these enterprises, presented in the balance sheet.
The scientific methodology applied in the study of the issues is based on the normative and system approaches and the method of comparative analysis. From the position of the system approach, the valuation policy regarding the goods is considered as a part of the accounting policy of the enterprise, and the analysis of the stock of goods as a component of the analysis of the international trade business of the enterprise as a whole.
The object of special attention in the article are the various methods of determining the value of goods sold. A comparative analysis of these methods was made and the advantages and disadvantages of each of them were highlighted. The influence of the application of these valuation methods on key indicators for financial and accounting analysis of the international trade business of Bulgarian enterprises and for assessing the results of their activities in modern conditions is discussed.
The article analyzes the requirements of the national accounting legislation related to the valuation of the goods of the enterprise and the provision of accounting information for them. The importance of this information is substantiated both for the purposes of management of the enterprises carrying out international trade business, and for the external users of the information from their financial statements.
A key issue in forming the price of acquisition of a unit of goods in case of complex deliveries from abroad is the distribution of costs related to the delivery as a whole (transport and insurance costs, loading and unloading costs, import duties, etc.). A methodology is proposed for the distribution of such costs in order to include them in the acquisition price of the individual goods by applying a distribution coefficient.
As a result of the research, it is concluded that it is extremely important to carefully assess the valuation policy of the enterprise regarding the goods not only from the point of view of the current accounting period, but also of several accounting periods.