Economics/7. Accounting and audit

R. Abdullina –starshiy teacher

A. Koyshibaeva-studentka Specialities-account and audit of

Kostanayskiy state university the name of And. Baytursynova, Kazakhstan

Concept and essence of account payable as an object of record-keeping

The term "obligations" in the original sense of the relationship. By virtue of which one party is obliged to make to the other side certain actions. In accordance with international financial reporting standards is the economic obligations of an economic entity that are recognized and valued in accordance with generally accepted accounting rules. The main types of debt related receivables and payables.

Accounts payable - is the amount of debt of one company to other businesses and individuals. It arises from the mismatch of time to pay for goods or services with the moment of transfer of ownership of them either unfinished calculations mutual obligations, including subsidiaries and affiliates, plant personnel, advances received, etc. Unlike receivables enterprise in this case uses its turnover does not belong to him means not paid by the amount of debt, why has certain economic benefits payable based on the time gap between the commodity and its payment transaction and, consequently, the function money as a means of payment.

In the foreign literature to payables include duty payable; expected cash outflow or resources; refusal economic entity from the potential income, etc.
In the Republic of Kazakhstan to the payables mostly include short-term debt obligations. Arising from settlement buyers with suppliers, customers, contractors. Businesses with tax authorities. With staff on pay and other payments due dividends, etc. However, in the financial analysis of economic activity in payables often include the repayment of loans received. Payable in accordance with contracts of more than 12 months after the balance sheet date.

The emergence and the need for accounts payable were originally connected to the provision of money and material assets in debt, ie followed by a return. The development of trade debt increased not only in number and amount, but also by type of debt.

Particularly contributed to this variety of ways sales.
Organization providing goods, works and services on credit, is the creditor, and the organization of their receiving - debtor. In a broader sense, the creditor - is the party in the undertaking has the right to require the other party to meet its financial obligations and the debtor - the debtor in a contract or other obligation. From the standpoint of accounting by the debtor is an individual or legal person having a debt to the enterprise.

This may be the acquirer, not a payment or shipped tempered her products and other goods, worker or employee who has received an advance on a business trip or other expenses and many other debtors.

Creditor should be considered legal or natural person providing the organization money or goods on credit entitled to subsequent reimbursement of these funds in cash or by exchange for other goods or services.

In a broad sense to include creditors, banks and other credit institutions, companies that supply products and goods from post-paid workers and employees who accrued but not paid wages, etc.

As a legal category, accounts payable organization - a special part of its property, which is subject to mandatory relations between the organization and its creditors. The organization owns and uses the accounts payable, but she is obliged to return or to pay this portion of the property to creditors who are entitled to claim it. This part of the property includes debts organization, other people's property, other people's money in the possession of the debtor organization.
Thus, accounts payable has a dual nature: as part of the property is owned by an organization for ownership or ownership, as to liability relations - this organization debts to creditors, ie persons authorized by the organization said netrebovanie with the property.

Accounts payable subject to accounting and balance sheet as debt balansoderzhatelya organization . Civil law , of course, differs from the accounting So, according to Art . 268 CC RK By obligation one person (the debtor ) is obliged to make in favor of another person (the creditor ) a specific action , such as to transfer the property , do the work , pay the money , etc., or to refrain from certain actions , and the creditor is the right to require the debtor to perform its duties. The lender must accept the debtor execution.