Davletov Ikram Rakhimberganovich,
Tashkent State University of Economics, associate professor of the Department of Accounting, PhD
e-mail: i.davletov@tsue.uz
Abstract. In this article studied the insolvency of enterprises and the economic essence, regulatory, legal, and organisational basis of their liquidation. The theoretical and methodological analysis of the research made it possible to propose the improvement of the normative legal and detailed provision of liquidation of enterprises based on the analysis of the current normative legal documents of the Republic of Uzbekistan. Also, analysed the concepts of “insolvency” and “bankruptcy” on the basis of regulatory legal documents and studied the cases where legal entities could be liquidated. Based on the analysis of regulatory legal documents, a classification of insolvency procedures, and a summary of the situations that lead to the creation of a liquidation balance sheet, it was recommended to divide the main stages of the liquidation of a legal entity into four stages, revealed the features of the liquidation balance sheet, and revealed the importance of reporting assets at their market value and liabilities at their fair value in the liquidation balance sheet.
Key words: insolvency, liquidation of enterprises, liquidation balance sheet, liquidation process.