Method of accounting for the sale of goods with the right to their return in trade organizations

Abstract

Purpose: the article is devoted to the study of certain imperfections of the national methodology of financial accounting for the sale of goods with the provision of buyers the right to return in trade organizations in order to improve it and organize management accounting for effective decisionmaking and achieving strategic goals. Discussion: currently, the problem of returning goods exists all over the world, and with the development of online Commerce, the number of returns has increased significantly. The effectiveness of organizations depends largely on the chosen method of accounting for the main activity of trade organizations – the process of selling goods, including operations related to their return. In this regard, the authors justify the need to change the existing accounting methodology for returning goods from buyers with the offer of a variant of financial accounting based on the methodology of international financial reporting standards (hereinafter – IFRS). Results: the authors considered the method of financial accounting of the process of selling goods with the right to return with reflection on the accounting accounts of the Standard plan of accounts of the Republic of Belarus and in the accounting (financial) statements, which, unlike the domestic method, will correctly and timely reflect all economic operations in accounting and reporting. A variant of management accounting for the return of goods from customers is proposed, with the help of which the organization will be able to control and timely repay its obligations to customers, more accurately assess the variable component, as well as perform analysis and forecasting of its activities.