Accounting and Audit of Settlements with Buyers and Customers

This graduation qualification work aims to systematize the methodology of accounting and audit of settlements with buyers and customers in accordance with the Russian Accounting Standards and the International Financial Reporting Standards and to give suggestions for improving the accounting system and correcting accounting errors for the further prosperity of a company. The relevance of this research is explained by the impact of properly organized accounting and audit of settlements with buyers and customers on the activities of the company, its profit and improvement of the financial position. The graduation qualification work includes the way of choosing the most appropriate form of non-cash payment for a company with its buyers and customers provided with a use of the method of analysis of Saati hierarchies in conjunction with the graphical method. Moreover, the contribution of this study is a comparison of the accounting of settlements with buyers and customers between the RAS and the IFRS. The first chapter of the study is devoted to the theoretical background of settlements with buyers and customers, on basis of which the procedure for conducting synthetic and analytical accounting of settlements with buyers and customers is studied in the second chapter on the example of a particular company. The third chapter of this work demonstrates the procedure of conducting an audit of settlements with buyers and customers: a test for evaluating of the effectiveness of the internal control system is developed, and methods for assessing the audit risk, level of materiality and generating an audit sample are collected. A strategy and an audit plan for settlements with buyers and customers were developed, and on the basis of testing audit procedures, the drawbacks have been identified and the recommendations were made for the company for improvement of the accounting system and correcting accounting errors.