Khalilov Sherzod Akhmatovich,
PhD, Associate Professor, Tashkent Institute of Finance
Tashkent, Uzbekistan, Email:halilov86@gmail.com
ORCID: 0000-0002-6230-5278
Abstract. This article focuses on the role of construction organizations in the era of globalization and the importance of organizing and maintaining accounting, taking into account the basic features of this field. In the Statement of “Profit and Loss” prepared on the basis of IAS-1 the recognized expenses are classified according to their nature and functions within the business entity, and the possibilities of analyzing the operational expenses has been studied. Based on the study of the requirements of IAS-1 a structure of operating expenses was developed based on the classification of expenses of business entities, including construction organizations, according to their nature and functions. The statement form on “Profits and losses” was developed for construction organizations, taking into account the basic characteristics of the construction industry based on requirement IAS-1. It is researched that the criteria of the first stage of the revenue recognition model of I IFRS-15 provide an appropriate basis for the assessment of rights and obligations in contracts for a construction organization. A five-stage model of revenue recognition of contracts with customer has been studied based on the requirements of the standard IFRS-15.
Keywords: revenue, profit, loss, statement, international standards