ACCOUNTING AND TAXATION OF BUSINESS ENTITIES IN THE MODERN ECONOMIC CONDITIONS
Authors:   Ivan Franko National University of Lviv, Yarema Yaroslav , Sul Natalya ,   Ivan Franko National University of Lviv
Published: January 2025

In modern conditions, in particular during the war, accounting and taxation in Ukraine are necessary and crucial for ensuring the financial stability of the country's economy and the ability of enterprises to adapt to a rapidly changing economic environment. The article examines key aspects of the functioning of accounting and the tax system. The author notes that entrepreneurs face numerous problems that threaten their economic security: currency fluctuations, rising costs of goods and services, and destruction of infrastructure. In the face of such challenges, accounting and financial planning become critical for the survival of a business. The instability of the economic environment requires enterprises to be flexible and adaptable, in particular in the field of tax accounting and reporting. Small and medium-sized businesses are an important sector of the Ukrainian economy, but they are extremely vulnerable to changes in the economic situation. According to the State Statistics Service of Ukraine, a significant part of small and medium-sized businesses suffered significant losses during the war. A key element of accounting is the accounting policy, which determines the methods and principles of accounting. In this regard, small businesses can choose a simplified accounting and reporting system, which allows to reduce the administrative burden and maintain financial stability. Important support tools are changes in tax legislation, in particular the application of a reduced rate of a single tax for some categories of entrepreneurs and the introduction of new reporting mechanisms. However, as the author notes, for the successful development of enterprises in war conditions, further adaptation of the taxation system and improvement of accounting are necessary, which will contribute to increasing the competitiveness and stability of business in Ukraine, as well as provide additional opportunities for attracting investments and creating new jobs. In the current war conditions, when the Ukrainian economy is experiencing serious challenges, accounting and taxation are becoming extremely important for the stability and adaptation of enterprises. The importance of accounting and the tax system, which are the basis of the financial security of businesses in times of crisis, is highlighted. The article states that an important tool for small and medium-sized businesses is the ability to use simplified forms of accounting and reporting, which allows reducing the administrative burden. In addition, adapting the tax system to new realities, introducing preferential rates of the single tax and other changes contribute to economic activity. At the same time, enterprises must be ready for rapid changes and finding new ways to optimize costs and maintain financial stability. This requires constant monitoring of changes in legislation and the economic environment, as well as the implementation of new financial strategies that will help preserve the business even in difficult conditions. Since adaptation to new economic realities is extremely important, enterprises must remain flexible, which allows them to quickly respond to any challenges and ensure their competitiveness in the long term.