Methodological Limitations of Transaction Costs Classification in the Accounting

Serhiy Bardash () and Tetyana Osadcha ()
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Serhiy Bardash: Kyiv National University of Trade and Economics, Kyiv, Ukraine
Tetyana Osadcha: Zhytomyr State Technological University, Zhytomyr, Ukraine

Oblik i finansi, 2016, issue 1, 8-14

Abstract: Article is devoted to methodological limitations that arise when addressing the issues of transaction costs accounting, and developing of proposals to resolve them. Scientific approaches to the classification of the transaction costs and their reflection in the accounts are disclosed. It was found that the main methodological problem to be solved to ensure the accounting of transaction costs, is the problem of the existing concept of earnings used in the current accounting methodology. Another aspect is a problematic concept of revenue recognition, which is directly linked to the classification of types of activity, according to which the financial statements of the enterprise is developed. The theoretical foundations to overcome these methodological limitations are determined. It is proved that to implement the classification of transaction costs as scientists proposed at the level of the financial account is possible only under condition of systemic transformation of accounting methodology based on the theoretical foundations of neo-institutionalism and the theory of rent.

Keywords: costs; transaction costs; classification of costs; theory of rent; methodology of accounting; accounting system (search for similar items in EconPapers)
JEL-codes: M41 (search for similar items in EconPapers)
Date: 2016
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