Audit and analysis of income and costs of the enterprise

Abstract

The article summarizes the practical aspects and substantiates the need to audit and analyze the company's income and expenses as key components of effective management of its financial and economic activities. It is emphasized that modern operating conditions of enterprises, in particular, conditions of military operations, instability of the economic environment, rapid changes in legislative regulation and risks of fraud, require ensuring transparency, efficiency of management decision-making based on analytical conclusions and the results of an independent audit of financial information about costs and revenues of the enterprise.

The study revealed the practical aspects of conducting an audit of revenues and expenses of JSC "Zhytomyr Oil Plant" based on the materials of the independent auditing firm of the Limited Liability Company "BDO". Emphasis is placed on the quality of information support for effective performance of audit procedures. Emphasis is placed on analytical procedures, which are an important component of the audit process, as they allow identifying financial and economic trends, assessing the stability of income, the effectiveness of costs in their structure and dynamics, and identifying potential risk factors.

It was concluded that the high-quality performance of the audit and analysis of the company's income and expenses contributes to increasing the transparency of its economic and financial activities, increasing the confidence of investors, strengthening the competitiveness of the company and ensuring its development in the long term. In addition, the analysis of the structure and dynamics of the company's income and expenses allows a quick response to changes in the market situation, which positively affects the adoption of effective management decisions and contributes to the improvement of financial results. Directions for improving the audit and analysis of the company's income and expenses are proposed, in particular through the introduction of modern information technologies, the automation of analytical processes and the adaptation of methodological approaches to the requirements of the modern economic situation.