services) is displayed in the line 2000 f. No. 2 "Statement of financial results
(Cumulative income statement)", p. No. 2-m or f. № 2-ms "Statement of financial
results". Under the middle number of employees understands the average number of
employees.
At the same time, in the national legislation there is a divergence of the Law of
Ukraine No. 2164 with the Commercial Code of Ukraine, according to which only two
criteria are used: the annual income from any activity and the average number of
employees (Table 1). Such contradictions require amendments to the Commercial
Code of Ukraine in accordance with the requirements of the Directive 2013/34/EU in
order to ensure regulatory subordination at the national level. In the foreword to the
text of the Directive, it is emphasized that the financial statements consist of different
purposes, and not only to provide investors with information on capital markets.
Therefore, the EU legislation must ensure a balance between the interests of the
recipients of financial statements and the interests of the companies for which reporting
requirements should not be too burdensome. Art. 3 Directive No. 2013/34/EU, with
this in view, establishes a clear grading of companies and groups of companies in order
to differentiate the requirements for their annual and consolidated financial statements.
An enterprise may be classified in a certain category, provided that its performance at
the date of preparation of the financial statements for the year preceding the reporting
corresponds to at least two of the criteria.
Table 1 Characteristics of enterprises by types in accordance with domestic
legislation
№
Indicator
Type of enterprise
Micro
Small
Medium
Large
Law of Ukraine "On Accounting and Financial Reporting in Ukraine" (Article 2)
1
Carrying value of assets,
euro
< 350 thnd
< 4 mln
< 20 mln
> 20 mln
2
Net income from sales of
goods (goods, works,
services), euros
< 700 thnd
< 8 mln
< 40 mln
> 40 mln
3
Average number of
employees, persons
< 10
< 50
< 250
> 250
Economic Code of Ukraine (Article 55)
4
Annual income from any
activity, euro
≤ 2 mln
≤ 10
≤ 50 mln
> 50 mln
5
Average number of
employees, persons
≤ 10
≤ 50
≤ 250
> 250
Source: Proved by the authors [7, 13]
At the same time, EU member states can set threshold for small companies and
small groups of companies, but not more than 6 million euro for the balance sheet and
12 million euro for net turnover (net income) [11, 9]. If an enterprise does not meet the
criteria for a particular group for two years, then the enterprise will be reclassified to
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