Improving the Accounting for Credit Transactions in Pawnshops
The activities of pawnshops are important for the development of the credit market in Ukraine, because such mobile and flexible institutions can satisfy the exceptional requirements and needs of consumers in urgent lending. The purpose of the article is to justify a methodical approach to assessing...
| Main Authors: | , |
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| Format: | Article |
| Language: | deu |
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Institute of Accounting and Finance
2020-06-01
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| Series: | Облік і фінанси |
| Subjects: | |
| Online Access: | http://www.afj.org.ua/pdf/742-udoskonalennya-obliku-kreditnih-operaciy-u-lombardah.pdf |
| _version_ | 1818294481678499840 |
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| author | Nataliia Bondarenko Viktoriia Sitenko |
| author_facet | Nataliia Bondarenko Viktoriia Sitenko |
| author_sort | Nataliia Bondarenko |
| collection | DOAJ |
| description | The activities of pawnshops are important for the development of the credit market in Ukraine, because such mobile and flexible institutions can satisfy the exceptional requirements and needs of consumers in urgent lending. The purpose of the article is to justify a methodical approach to assessing the borrower's creditworthiness in pawnshops as well as to determine the methods of displaying the assessing results in the accounting system. In Ukraine pawnshops use IFRS, but they also guided by the Instruction for the application of the Chart of Accounts for accounting of assets, capital, liabilities and business operations of enterprises and organizations. Off-balance sheet and balance accounts that are used by pawnshops for accounting of credit operations were disclosed. The directions of assessing the borrower's creditworthiness by quantitative and qualitative parameters were determined. The scoring model for assessing the borrower's creditworthiness in pawnshops was presented, which provides for the distribution of borrowers based on the Harrington scale. Subaccounts were proposed for accounting for certain groups of borrowers depending on their reputation (risk of loan default). The correspondence of accounts for the accounting of credit operations in pawnshops for various groups of borrowers was given. Using the proposed approach to the classification of borrowers in pawnshops when providing loans to individuals will help to obtain rather high interest for using a loan, as well as provide an opportunity to cover all costs of the sale of collateral. Accounting of various groups of borrowers depending on their reputation will allow to quickly get information about the amount of loans provided by various groups and find out which borrowers use the pawnshop services more. |
| first_indexed | 2024-12-13T03:32:26Z |
| format | Article |
| id | doaj.art-bf9858d47bbc46778dbedf7a058d9bc0 |
| institution | Directory Open Access Journal |
| issn | 2307-9878 2518-1181 |
| language | deu |
| last_indexed | 2024-12-13T03:32:26Z |
| publishDate | 2020-06-01 |
| publisher | Institute of Accounting and Finance |
| record_format | Article |
| series | Облік і фінанси |
| spelling | doaj.art-bf9858d47bbc46778dbedf7a058d9bc02022-12-22T00:01:07ZdeuInstitute of Accounting and FinanceОблік і фінанси2307-98782518-11812020-06-012(88)51110.33146/2307-9878-2020-2(88)-5-11Improving the Accounting for Credit Transactions in PawnshopsNataliia Bondarenko0https://orcid.org/0000-0003-4733-8159Viktoriia Sitenko1Oles Honchar Dnipro National University, Dnipro, UkraineOles Honchar Dnipro National University, Dnipro, UkraineThe activities of pawnshops are important for the development of the credit market in Ukraine, because such mobile and flexible institutions can satisfy the exceptional requirements and needs of consumers in urgent lending. The purpose of the article is to justify a methodical approach to assessing the borrower's creditworthiness in pawnshops as well as to determine the methods of displaying the assessing results in the accounting system. In Ukraine pawnshops use IFRS, but they also guided by the Instruction for the application of the Chart of Accounts for accounting of assets, capital, liabilities and business operations of enterprises and organizations. Off-balance sheet and balance accounts that are used by pawnshops for accounting of credit operations were disclosed. The directions of assessing the borrower's creditworthiness by quantitative and qualitative parameters were determined. The scoring model for assessing the borrower's creditworthiness in pawnshops was presented, which provides for the distribution of borrowers based on the Harrington scale. Subaccounts were proposed for accounting for certain groups of borrowers depending on their reputation (risk of loan default). The correspondence of accounts for the accounting of credit operations in pawnshops for various groups of borrowers was given. Using the proposed approach to the classification of borrowers in pawnshops when providing loans to individuals will help to obtain rather high interest for using a loan, as well as provide an opportunity to cover all costs of the sale of collateral. Accounting of various groups of borrowers depending on their reputation will allow to quickly get information about the amount of loans provided by various groups and find out which borrowers use the pawnshop services more.http://www.afj.org.ua/pdf/742-udoskonalennya-obliku-kreditnih-operaciy-u-lombardah.pdfcredit operationspawnshopaccounting for loansborrower's creditworthinessscoring model of assessment |
| spellingShingle | Nataliia Bondarenko Viktoriia Sitenko Improving the Accounting for Credit Transactions in Pawnshops Облік і фінанси credit operations pawnshop accounting for loans borrower's creditworthiness scoring model of assessment |
| title | Improving the Accounting for Credit Transactions in Pawnshops |
| title_full | Improving the Accounting for Credit Transactions in Pawnshops |
| title_fullStr | Improving the Accounting for Credit Transactions in Pawnshops |
| title_full_unstemmed | Improving the Accounting for Credit Transactions in Pawnshops |
| title_short | Improving the Accounting for Credit Transactions in Pawnshops |
| title_sort | improving the accounting for credit transactions in pawnshops |
| topic | credit operations pawnshop accounting for loans borrower's creditworthiness scoring model of assessment |
| url | http://www.afj.org.ua/pdf/742-udoskonalennya-obliku-kreditnih-operaciy-u-lombardah.pdf |
| work_keys_str_mv | AT nataliiabondarenko improvingtheaccountingforcredittransactionsinpawnshops AT viktoriiasitenko improvingtheaccountingforcredittransactionsinpawnshops |