Peculiarities of accounting and analytical support of discontinued operations of a commercial organization

Natalia B. Galikova () and Tatiana A. Zhuravleva ()
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Natalia B. Galikova: Emperor Peter I Voronezh State Agrarian University
Tatiana A. Zhuravleva: OSCO Group Services

Economic Consultant, 2022, vol. 3, issue 3, 33-41

Abstract: Introduction. The study of partial or complete businesses liquidation is essential for understanding market dynamics, risk management, and developing strategies for the sustainable development of enterprises in uncertain conditions. The article aims to study the peculiaritie of accounting for discontinued operations of the enterprise. Materials and Methods. Scientific research in accounting, financial analysis and management, as well as literature on accounting and financial management, accounting standards, and legislative acts related to the liquidation and termination of enterprises, were analyzed. Results of the study. To create a valuation liability for discontinued operations, it is necessary not only to develop a detailed plan for “going out of business” but also to make all interested parties (dismissed employees, labor unions, counterparties, etc.) aware of it. Information on discontinued operations should be reflected in the explanatory notes to the balance sheet and the statement of financial results, and in the case of a bankrupt company, in our opinion, in the report of the bankruptcy trustee. Conclusion. Creating and implementing unified international accounting standards for discontinued operations can ensure consistency and transparency in financial reporting, allowing a more accurate reflection of enterprises’ financial situations.

Keywords: commercial organization; discontinued operations; enterprise bankruptcy; liquidation liability; search assets (search for similar items in EconPapers)
JEL-codes: G33 M41 (search for similar items in EconPapers)
Date: 2022
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