Theoretical aspects of financial performance accounting in commercial organizations

Abstract

Financial results have always been the most significant indicator of the activity of a commercial organization of any organizational and legal form and form of ownership, since it characterizes the result of the organization’s activities and the efficiency of using its resources. Currently, there are many scientific definitions of this concept, but, in our opinion, they do not fully disclose its essence from the point of view of reflection in accounting. The authors have formulated a definition of the concept of «financial results», which, unlike the existing ones, takes into account the need to disclose it not only as an indicator reflecting the level of profitability, but also as an indicator that should take into account the possibility of calculating the level of payback in the event of a loss.