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Name, surname, last name of the author (co-authors)	Appakova Gulmira Nesipbekovna
City	Almaty
Title of the report	FEATURES ACCOUNTING THE OBLIGATIONS OF STATE ORGANIZATION
Place of work (study)	T.Ryskulov KazEU
Position	Associate professor
Scientific degree, title	PhD, Associate professor
Telephone number	+77026199047
e-mail	ganek310@mail.ru

Appakova G.N.

PhD, associate professor

T.Ryskulov KazEU, Almaty

FEATURES ACCOUNTING THE OBLIGATIONS OF STATE ORGANIZATION

In the context of market economy the budget organizations are characterized by the responsibility of the state institutions to act or to do anything in any particular way. In this case, the obligation - relative civil legal relationship pursuant to which one party (the debtor) is required to make in favor of the other party (creditor) a certain action or refrain from certain actions. Such actions are: the transfer of certain assets, the execution of work, payment of money, as well as other actions. Creditor in whose favor must be committed such an act, has the right to demand from the debtor the performance of his duties. Liabilities arise from contracts, unilateral transactions, acts of harm, unjust enrichment and on other grounds. Obligation must be performed properly in accordance with the terms of the obligation and achieved in accordance with the requirements of the law. To commitment was made in consideration of the state organizations, in our opinion, it should be recognized in accordance with the criteria specified in the Rules of accounting in public organizations [1, С.74]. Recognition of the provision is the process of reflection in the statement of financial position or statement of comprehensive annual profit item that meets the definition of an element and satisfies the following criteria:

-there is probable that any future economic benefit associated with the article will gain or lose the subject;

-factual costs or cost of article can be reliably measured.

Non-recognition of such items is not rectified either by disclosure of accounting policies used, or by notes or explanatory material.

The second criterion for recognition of liabilities is the ability to measure reliably according to the actual costs or the cost. In many instances the cost or expenses are known.

In the accounting of budgetary organizations the liability is classified as current in the following circumstances: a government agency expects to settle it in the operating cycle; profit organization holds the obligation primarily for the purpose of trafficking; government agency expects to settle the obligation within 12 months from the end of the reporting period; or a state institution is expected to pay debt at least for twelve months after the end of the reporting period. Thus, in a market economy offering a more detailed classification of obligations budget organization, which includes three features: on practical issues; the maturity; intended liabilities (Figure 1).

The financial obligations of the state agencies include any obligation that is a contractual obligation to pay cash or any other financial asset to another entity; on the exchange of financial instruments with another entity under conditions that are potentially unfavorable. These are: loans received; other financial liabilities.

The most important type of fiscal obligations of the organization is payable. It is divided into payable on transfers to individuals; on target current transfers; subsidies to individuals; subsidies to legal entities; payable on payments to the budget (personal income tax, social tax, and others.); accounts payable to suppliers and contractors; on departmental estimates; to employees; lease; temporary accommodation for the money; other payables.

Figure 1. Classification of the commitment to performance measurement and reporting

Note. compiled by the author

The next type of obligations are estimated by liabilities, representing, liability of uncertain value or with indefinite performance [2, P.21]. Also, we have considered all kinds of obligations which are intended offer grouped in accordance with the accounting treatment according to their measurements (Table 1).

Assessment of liability is the definition of the numerical value of the index or property obligations. Evaluation of the object is implemented by a number of indicators. For example, for accounts payable is the amount of debt and the expected date of repayment, etc. Evaluation is the process of determining the monetary amounts at which the elements of financial statements shall be recognized and displayed in the balance sheet, profit and loss account. This includes the choice of a particular method of evaluation. In the financial statements of a number of different assessment methods are used. These include the following methods: historical cost; fair (replacement) value; selling price (maturity present value.

The most widely accepted basis for the evaluation of companies to prepare their financial statements is the historical cost for the preparation of their financial statements. Usually it is used in combination with other assessment basis. For example, pension liabilities are at their present value. In some cases (for example, to produce forecasts and decision-making) data can be used in real terms is the number of commitments [3, P.43].

Table 1- Grouping obligations budget organization for its intended purpose and characteristics of public organizations

Group commitments	Types of obligations
1. Financial liabilities	1.1 Loans and debts
	1.2 Other financial liabilities
2. Accounts payable	2.1 Accounts payable on payments to the budget
	2.2 Payables for other mandatory and voluntary payments
	2.3 Payables for other calculations
	2.4 Payables to target transfers on development
	2.5 Accounts payable for employees
	2.6 Other payables on subsidies to legal entities
	2.7 Other payables
	2.8 Payables for money of temporary accommodation
	2.9 Calculations related to the withdrawal of cash from monetary funding
3. Evaluation and warranty	3.1 Provisions
	3.2 Warranty
4. Other current liabilities	4.1 Advances received
	4.2 Оther commitments
Note. Сompiled by the author

Commitments of the budget organization in accounting are estimated as follows: short-term obligations -on the fair value; accounts receivable, long-term liabilities - at fair value or the present value of [4]. Since the obligation can be estimated from different positions, in the interests of investors and other users of financial statements must include evaluation on several indicators. In many cases, one estimate may be replaced by another. For example, the fair value in certain circumstances replaces the current assessment, which, in turn, can provide estimates of future cash flows. For the accounting of transactions with accounts payable are subsections of:

-3100 «Short-term payables for taxes and other payments»;

-3200 «Short-term payables»;

-4100 «Long-term payables» (Figure 2).

The basis of evaluation of liabilities of the budget organization for accounting purposes are on the principles of cost, business continuity, and implementation of conservatism. Accounting principle meaning continuous activity in which the organization will operate for the foreseeable future, and does not intend to eliminate or significantly reduce its activity. Property operating organization is carried at cost (the original, historical value. In the case of the proposed liquidation or sale of assets in the next reporting period, these assets are recorded at their fair value sales.

Figure 2. Synthetic account of payable to budget organization

Note. Сompiled by the author

After initial recognition, subsequent measurement of a public institution liabilities carried at fair value, except for special cases in which this Standard requires or permits the use of a database of measurements (for example - cost or amortized cost). Most non-financial liabilities are measured at the best estimate of the amount needed to settle the obligation at the balance sheet date.

Contingent liabilities from guarantees include liabilities arising from guarantees and warranties. The Guarantor guarantees a certain result or performance of obligations in accordance with previous assurances or guarantee against certain adverse circumstances or damage. At the balance sheet date contingent liabilities on guarantees issued are disclosed in the notes to the financial statements and are net of reserves for them.

References:

1. Handbook of International Financial Reporting Standards for the public sector. Astana «International Federation of Accountants», 2011. Volume 1-2570s.

2. The rules of accounting in public organizations

3. Belov A.N. Accounting for budget institutions. - M.: Examination 2005. 350 p.

4. Svіrko S.V. Accounting look in budget organizations. [Electronic resource] http://readbookz.com/pbooks/book-31/ru/chapter-1467/ Date links 15.11.2014.