Home  Journals  International Accounting  22(268) - 2013 June

Problematic issues on documenting facts of economic life in accounting: author’s standpoint

Available online: 14 June 2013

Subject Heading: FOREIN EXPIRIENS

JEL Classification: 

In the article the concepts «fact of economic life» and «business transaction» are analyzed; the distinction between these two concepts are shown. Algorithms of source documents' inflow in the accounting system are created, provided that the document is a basis for making entries in the accounts, and vice versa, when the primary document is the result of a business transaction, which occurred. The possibility of considering a contract as a primary document has been researched.

Keywords: document flow, business process, facts of economic life, business transaction, contract

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ISSN 2311-9381 (Online)
ISSN 2073-5081 (Print)

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