Odessa region

Odessa region is situated in the south-east of Ukraine. It borders on Romania in the south, Moldova in the west, Vinnitsa and Kirovograd regions in the north and Nikolayev region in the east.

The region is the largest in Ukraine by its area (33.3 ths. Km2) . Population numbered 2,430,033 people as of January 1, 2004.

The following are the peculiar features of Odessa region economy:

-powerful marine-based industry complex consists of 7 sea ports, dockyards and shipbuilding plants

- Powerful economic and industrial potential

- Multi-industrial agriculture

-well developed tourist, recreational, and resort infrastructure.

-encouraging investment climate the region is included into the top five most investment attractive Ukraine’s regions.

The main peculiarity of economic and geographical status of the region consists in its littoral and transboundary location. Exit to Azov and Black Sea basin and to Danube, Dniester, Dnieper, and Don determine advantages , of the region in development of transport infrastructure . Transport plays a leading role in the economy of the region. Approximately 33.5% of gross added value created in the region and almost 44% of fixed assets fall on transportation companies . This industry employs 15% of the region’s population.

Odessa, Illyichevsk and Yuzhnyi ports are the largest Ukrainian ports at present. More than 60 mn tons of freights are annually transferred through them.

Specialized Illyichevsk fish port successfully operates on the territory of the region in addition to the mentioned universal ports. It is a subsidiary of Antarctica, the largest fishing company of Ukraine.

Odessa region is one of the most economically developed regions of Ukraine. Machine building, chemical and petrochemical industries , wood pulp and paper, food processing and light industries are developer in the region.

The top priority direction for advance development of industrial complex is development of high-tech sectors (tools making, fiber-optical manufacturing and telecommunication equipment)

All major branches of agricultural sector , starting from crop production(cereal production, sugar beet growing , floriculture , gardening, melon production, and viticulture) and up to farmer stock raising are developed in the region. Food-processing industry is rapidly developing in Odessa region.

Tourism is one of the most rapidly developing industries of the Odessa region and littoral lagoons, sand coasts and springs of mineral water have created favorable conditions for beaches , sanative resorts, holiday camps and tourist bases and help region to enter the top three leaders of recreational .

Introduction into accounting

Accounting consist of the concepts and processes by which financial and economic data are gathered, processed and communicated. Accounting is a flexible discipline that requires significant exercise of judgment.

Let’s consider the relationship of accounting and the accounting system to the activities of business organization. In every organization two flows occur simultaneously .

First a firm performs the activity for which it was organized. This is generally the production of product of the delivery of service or perhaps both. Second as the product is completed or a service is delivered data are generated about this activities.

For example, a grocery store, customers purchase meat, produce and canned goods. The store business purpose is to sell these products to customers and their transfer of cash to the grocery store represent the first business activity flows.

The flow of data parallels the physical flows of merchandise and lash. The merchant uses a cash register to capture and canned goods are individually coded to each item told can be identified. In addition, the prices paid, the currency tendered by customers and the change they receive are coded at dollars and cents. This second flow of data results when the accounting system codes the transactions in letters and digits to represent the products-to-cash transfer from the first flow.

The accounting system must be ready to capture data promptly at the point of generation. Any delay in data collection increased the possibilities of inaccuracy and omission.