Accounting and Audit of VAT Calculations

The value added tax is an indirect, multi-step tax actually paid by consumers. This tax has a complex system of calculation, is about 30% of the revenue part of the budget, and also often undergoes changes and additions. This final qualifying paper was written in the light of the changes that entered into force on 01/01/2019. The purpose of this thesis: the study of the methodological aspects of accounting for the calculation of value added tax, its implementation in practice on the example of Zvezda LLC, the preparation and testing of an audit strategy and the provision of appropriate recommendations for the above company. In work the operating system of standard regulation of the account and audit of calculations with the budget on the VAT is considered. An economic analysis of Zvezda LLC was carried out, the organizational structure and accounting policies were reviewed, examples of business transactions on VAT with settlements and transactions were given, a declaration on indirect taxes was completed, in connection with the availability of imports, and a VAT declaration. Also in this thesis, the strategy and audit plan were drawn up, the audit procedures were tested and the auditor’s working papers were drafted, the caution was analyzed when choosing a counterparty, the materiality of the found distortions was determined and recommendations were given to correct them and improve the internal control system.