Authors : Gamir A. Khabirov, Elmira I. Galimova, Almir A. Askarov, Alisa M. Ableeva, David D. Lukmanov, Nuriya T. Rafikova and Zulfat Z. Suleymanov
Abstract: In financial and economic activities, economic entities are faced with the problem of untimely performance of obligations to counterparties hich is accompanied by an increase in overdue debts which have a negative impact on the financial position of the entity. The reason for this is the non-fulfillment of contractual terms between counterparties. The article examines the positions of economists and clarifies the essence of the concept of “Internal control”. The stages of internal control of settlements with counterparties have been systematized, the estimation of the state of accounts receivable and accounts payable was made. The organization of internal control of settlements with counterparties in agricultural enterprises of the region has been studied. The discount rate for receivables should be set taking into account the risks that the seller may incur by providing a loan to his buyer. The discounting rate of accounts payable should be equal to the rate at which the organization could receive a loan from the seller. Calculations are made of the present value of the counterparty's debts, the amounts of lost profits from the delay in receivables and the additional expense on accounts payable at the rate of deposit of Public Joint Stock Company “Sberbank of Russia”. Recommendations on reflection of results of revaluation of debts of economic entities in registers and accounts of accounting are developed. The studies were based on systemic, monographic, computationally constructive and other methods of investigation.
Gamir A. Khabirov, Elmira I. Galimova, Almir A. Askarov, Alisa M. Ableeva, David D. Lukmanov, Nuriya T. Rafikova and Zulfat Z. Suleymanov, 2018. Improvement of Information Support for the Internal Monitoring of Payments with Counterparties. Journal of Engineering and Applied Sciences, 13: 8317-8324.