Obidov Rakhmanali Rasulovich,
PhD, Associate Professor, Tashkent Financial Institute, Tashkent, Uzbekistan
Email: mars.or@mail.ru, ORCID: 0000-0001-9624-4023
Abstract. In this article, the formation of incomes and expenses in business entities in our country and improvement of their recognition in accounting, as well as accounting procedures in foreign countries, are mentioned. At the same time, the problems of operatively calculating income and controlling expenses in connection with the main activity of economic entities are highlighted. Determination of marginal income in economic entities is based on the need to formulate the proposal and financial results in the form of a “Profit and Loss” report based on international standards of financial reporting. Formation of current and aggregated accounting information on net receipts from the sale of products by recording the net receipts from the sale of finished and semi-finished products in separate working accounts in economic entities was launched. It is possible to create analytical accounting information about the cost of sold products and analyze the cost of sold products by considering the cost of sold products and semi-finished products in separate working accounts. Through the introduction of the determination of marginal revenue, the possibility of managing the volume of products related to the main activity, calculating operating income and controlling variable costs related to production has been highlighted.
Keywords: income, cost, profit, loss, financial results