Doctor of Economic Sciences, Professor Mehmonov S.U.,
Vice Rector for Academic Affairs
Tashkent Institute of Finance
Email: mexmonov@tfi.uz
PhD, Khalilov Sh.A,.
Tashkent Institute of Finance
Email: [email protected]
ORCID: 0000-0002-6230-5278
Abstract. This article discusses the role of construction organizations in the conditions of economic modernization and the theoretical basis for accounting for operating activities in them. Having studied the experience of developed countries, it is emphasized that business entities, including construction organizations, should divide their economic activities into operational and non-operational in the preparation of reporting and accounting on the basis of IFRS. As a result of the categorization of operating and non-operating expenses recognized in the statement of profit and loss by their nature, the possibility of obtaining information on expenses related to constant resources spent on the activities of business entities was studied. Based on the study of the requirements of IAS 1, the structure of operating activities expenses was developed based on the classification of costs for economic entities, including construction organizations, according to their nature and functions. As a result, this made it possible to correctly keep records of operating expenses and recognize them as operating expenses in the Profit and Loss Statement based on the requirements of IAS 1. Based on the requirements of IAS1, taking into account the main features of the construction industry, a form of the statement of “Profit and Loss” for construction organizations was developed. The possibility of using this form to obtain transparent information on income received and expenses incurred under contracts with customers from the report “Profit and Loss” of construction organizations was studied.
Keywords. Revenue, expense, cost, operating activities, statement, national accounting statement, international financial reporting statement