Improvement of the accounting of transaction costs from common activities in construction

Abstract

The category «transaction costs» is considered in the article. The study has found out that  «costs in the contract» of                                                                         joint activity in construction can be attributed to transaction costs. With internal management needs, monitoring, analysis and reporting of participants synergies and address the problem of formation of reliable information on the transaction costs it is proposed to improve analytical account of the implementation of joint activities in the chart of accounts of some changes, namely to account 94 «Other operating costs» (it is recommended to open a sub-account of order 9491 «Costs of joint activity without establishing a legal entity»). According to subaccount 9491 «Costs of joint activity without establishing a legal person» it is offered to open nine subaccounts of the fourth level 94 911 «Finding partners for the joint project», subaccount 94912 «Negotiation», subaccount 94913 «Ensuring the interests of», subaccount 94914 «Conclusion of an agreement on joint activity», subaccount 94915 «Performance of the contract», subaccounr 94 916 «Control of the joint project», subaccount 94 917 «Analysis of the joint project», subaccount 94918 «Correcting suboptimal contract terms,» subaccount 94919 «Completion of the joint project». To improve the method of accounting of transaction costs of investment and operational activities related to joint activities, these costs are recommended to reflect taking into consideration the type of joint activities (with or without the creation of a legal entity) and conditions of the contract. In particular, the transaction costs of operations which are associated with the joint activity without establishing a legal entity, it is recommended to display the subaccount 9491 «Costs of joint activity without establishing a legal person» synthetic account 94 «Other operating expenses»; for transaction costs of investing activities which are associated with losses from investments in joint activities with the creation of a legal entity, and other expenses which do not relate to operating activities – use synthetic account 96 «Loss of equity» and the corresponding subaccount – 962 «Loss of joint activity» and as synthetic account 97 «Other expenses».