Economic diagnostics of accounts receivable and payable in the internal control system of the organization

Abstract

Subject. This article considers the methodological aspects of economic diagnostics of accounts receivable and payable in the system of internal control of the organization. Objectives. The article aims to highlight the elements of economic diagnostics of the organization's debt in the internal control system and develop methodological approaches to the assessment of accounts receivable and payable. Methods. For the study, we used analysis and synthesis, induction and deduction, as well as comparison, logical generalization, systemic reasoning, and analytical forecasting tools. Results. The article presents an author-developed methodology of economic diagnostics of resources in settlements in the internal control system of the organization. It is based on an algorithm for assessing the dynamics of the turnover of accounts receivable and payable and monitoring their mutual ratio, identifying debt collection reserves, monetizing and forecasting the repayment of current debts. Also, for the operational systematization of information and effective control over the rate of change in accounts receivable and payable, the article offers developed forms of management reporting. Conclusions and Relevance. The developed methodology for economic diagnostics of accounts receivable and payable helps, on the basis of information on the changes in mutual turnover of obligations in the context of counterparties, identify available financial resources, determine possible reserves for debt collection, and make payment predictions. The results of the study can be applied when organizing the internal control system of accounts receivable and payable in the context of assessing the financial condition of the organization.