CONTRACTUAL OBLIGATIONS AND ACCOUNTING
The article deals with the issues related to the definition of obligations that arise as a result of the organization of various transactions and are the legal basis for subsequent payments for goods (works, services). In accounting, determine the time of occurrence of the obligation, its assessment and classification of liabilities for current (short-term accounts payable), which must be repaid in the operating cycle and long-term liabilities, which include loans received by the enterprise subsidiaries, affiliates and jointly controlled partnerships, deferred taxes in accordance with the legislation with a maturity of more than a year. Deadline ongoing obligations occurs within one year from the date of the balance sheet or since the start of the economic cycle, depending on which one has long.