Institutional aspects of transactional spending accounting demonstration in agricultural organizations

Abstract

Agricultural organisations in Ukrainian market play an important role. In 2022, during the worsening economic crisis and war on the territory of the entire country, the stable functioning of an agricultural sphere is a topical issue. The demonstration of “transactional spending” is somewhat unclear at the current stage. Thus, the purpose of the study is to investigate the field and generalisation of institutional aspects of the demonstration of transactional spending in agricultural organisations. With the employment of analysis and scientific research systematisation methods, it was noted that transactional spending of an agricultural organisation includes spending on information regarding the market functioning gathering, legal expenses, quality control, and property security. During the research, a demonstration of transactional spending of agricultural organisation subaccounts is unclear and requires the development of a unified approach to the spending regulation. The main ways of transactional spending accounting of agricultural organisations were determined. Practical aspects of transactional spending accounting in agricultural organisations of Ukraine were also denoted. A model of transactional spending accounting was developed, which is based on a creation of a new account 99 “Transactional spendings”. A new transactional spending accounting system was developed, which sorts transactional spending according to the classification in the new account subaccounts. These changes in accounting may be used to create new financial statement systems for agricultural organisations. The proposed transactional spending accounting system includes every possible risk of payment duplication or payment not being included in the statement. It may be employed not only by agricultural organisations but also used for the standards of bookkeeping practice.