Peculiarities of budget accounting

Abstract

Organization of accounting in budgetary institutions is affected by great many factors of economic, regulatory and social origin. Issues related to organization of accounting in budgetary institutions have been increasingly important in the Euro-integration context. The purpose of the study is to analyze theoretical and methodological framework for accounting in the budgetary institutions (public sector).

A theoretical synthesis and scientific substantiation of accounting and budget accounting as economic categories is given. The issues of accounting procedures in the public sector are scientifically elaborated. A brief review of definitions of “accounting”, “budget accounting”, “Chart.' of Accounts” is made; functions of Cha?1 of Accounts and tasks solved in constructing Chart of Accounts are highlighted; peculiarities of the Chart: of Accounting in the Ukrainian context, are outlined; problems in the accounting in the public sector in Ukraine are referred to. These problems are shown more specifically by analyzing the accounting procedures in the public sector in Ukraine in 2014 and 2015 and making their detailed comparison. Their distinctions, weak and strong sides are identified.

The conclusion is made that the current Chart of Accounts, once enforced in 2015, apart from improvements in the budget accounting, allows to for constructing the integrated Chart of Accounting, as the Chart, of Accounting enforced in 2015 incorporates the accounts of budgetary institutions, public funds of special purpose and the departments of the Treasury of Ukraine.