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Improving the Essence of the Relationship between Tourist and Intellectual Potential in Modern Life

1Gimranova Olga Barisovna, 2Narzullaeva DurdonaKuysunovna,

3Shermukhamedov Abbas Tairovich, 4Shermukhamedov BoburAbbasovich,

5Khasanova JamilaNizamiddinovna

1Senior Lecturer, Department of Tourism, Yeoju Technical Institute in Tashkent, Uzbekistan.

E-mail:[email protected]

2Russian University of Economics named after G.V. Plekhanov, Tashkent, Uzbekistan.

E-mail: [email protected]

3Doctor of Physical and Mathematical Sciences, Professor, Department of Digital Economics and Mathematical Disciplines of the Tashkent branch of the Russian University of

Economics, G.V. Plekhanov,Tashkent, Uzbekistan E-mail: [email protected]

4Applicant for the Department of Digital Economy of the Tashkent Financial Institute, Tashkent, Uzbekistan

E-mail: [email protected]

5Senior Lecturer, Tashkent State University of Oriental Studies, Tashkent, Uzbekistan E-mail: [email protected]

Abstract: The article reveals questions of improving the essence of the relationship between tourist and intellectual potential in modern life. And also studied the issues of improving the accounting of financial results and income from the sale of tourism products, as well as studied the ways of forming indicators of financial results at tourism enterprises, as well as ways to improve accounting and reporting on them.

Key words: expenses, incomes, travel services, profitability, export, import, government rules, strengthening of macroeconomic stability, monetary policy.


In international practice, a large number of scientific studies are devoted to improving the organizational and economic mechanisms and levers of tourism development, including the methodological basis for the accounting and analysis of tourism products. As a result of these studies, noteworthy scientific and theoretical ideas and experience have been collected on bringing profitability, costs, cost of sales and profit of tourism services in many countries of the


world into compliance with international accounting and reporting standards, creating modern models of management accounting and analysis and their application in travel companies. The areas of tourism studied today are at different levels, but the results achieved at the international level in their accounting and analysis are not sufficiently disclosed. The application of world experience and knowledge in individual countries requires deep scientific research in their relation. [1]

In accordance with the strategy on additional measures for the accelerated development of tourism in Uzbekistan, “priority tasks have been identified, such as turning tourism into a leading strategic sector of the economy, increasing the share of tourism tourism in the country's gross domestic product to 5 percent by 2026, the number of foreign tourists to 9 million people, as well as tourism revenues of up to $ 2.2 billion. According to official data, the emergence and development of many new types of tourism (pilgrim tourism, social tourism, ecotourism, agritourism, cultural tourism, regional tourism, etc.), the achievement of the share of tourism in the country's GDP of 2.3%, the number of tour operators up to 950, tourist and hotel complexes - 914 indicates that accounting and reporting, audits in these enterprises are currently carried out in accordance with national and international standards. Achieving the effective implementation of these priority tasks requires deep scientific research aimed at improving the methodology for the complete alignment of the procedure for the recognition, formation, assessment, accounting and analysis of income from tourism products that constitute the content of the activities of the subjects of this sphere, as well as their cost in accordance with the requirements of international standards , organization of segmental accounting and reporting of production costs and the cost of a tourism product, management analysis of a tourism product. [2]

Literature review

In the scientific and theoretical literature on accounting in the Republic, the financial result is often understood as the final economic result of the activities of the business entity, expressed in the form of profit or loss. It can be seen that such an approach to the financial result represents the end result of the business entity - profit or loss.

Well-known Russian scientist Ya. Sokolov, in his book Theoretical Foundations of Accounting, considers financial performance to be one of the most difficult categories, and describes it as profit or loss for a particular reporting period. The financial result shows the change in the value of capital during the reporting period. If it grows, then it is about profit, if it decreases, it is about loss.

Ya. In Sokolov's view, the financial result, i.e. profit or loss, can be seen as a change in capital, but it is not possible to know at what expense this change occurred. Capital can change at the expense of various sources, for example, the issuance of shares for additional transactions, the


acquisition of free property, the receipt of financial assistance, the waiver of obligations, and so on.

Some economists view financial performance as the difference between income and expenses. This difference can be positive, so when it comes to benefits, or negative, then it is seen as harm. Thus, the harm can be interpreted in terms of the benefit of the negative sign. This creates a common model, according to which revenues are an inflow of incoming funds and expenses are an outflow of outgoing funds; profit (loss) - the difference that arises between them, and it changes it as reflected in the balance sheet.

According to D. Kholboev, financial results are the increase or decrease of the entity's own funds in the course of entrepreneurial activity during a certain reporting period. It is determined solely on the basis of accounting data.

The two different accounting approaches considered result in a financial result that is the difference between asset growth or cash inflows and outflows.

Research methodology

Theoretical and methodological basis of this article is general economic literature and scientific articles, research of economists on effective loan portfolio management in commercial banks, interviews with scientists and industry representatives, analysis of their written and oral feedback, expert evaluation, process observation, economic events and a systematic approach to the processes, conclusions, suggestions and recommendations in relevant areas through a comparative analysis with the author‟s experiences. In the process of studying the topic, along with general economic methods, special approaches to data structuring were used, such as comparison, aggregation of theoretical and practical materials, and systematic analysis.

Analysis and results

In order to generate financial results and improve reporting at tourism enterprises, it is recommended to make the following changes and additions to paragraphs 376, 392, 410 of the National Accounting Standard of the Republic of Uzbekistan No. 21 "Chart of accounts for financial and economic activities of business entities and instructions for its use" [4]

Thanks to the selfless work of our people, we achieved significant results in 2019 - the Year of Active Investment and Social Development.

The inflow of investments has significantly increased. Foreign direct investment amounted to $ 4.2 billion, which is - note - $ 3.1 billion, or 3.7 times more than in 2018. The share of investments in gross domestic product reached 37 percent.

For the first time, our country received an international credit rating and successfully placed bonds for 1 billion dollars on the world financial market. For the first time in the past 10


years, Uzbekistan has improved its position in the credit risk rating of the Organization for Economic Cooperation and Development.

Deep structural transformations have begun in the energy, oil and gas industry, geology, transport, road construction, agriculture and water management, drinking water supply, heat supply and a number of other industries. Modernization and competitiveness improvement programs are being implemented in 12 leading industries. As a result, last year the rate of economic growth was 5.6 percent. The volume of industrial production increased by 6.6 percent, exports - by 28 percent. Gold and foreign exchange reserves increased by $ 2.2 billion and reached $ 28.6 billion.

In this cycle, we describe the procedure for calculating the system of differential equations by the Runge-Kutta method of the 4throw. This method is described as follows:[5]

We use the economic index method to analyze data on changes in grain yields and yields.

First of all, we need to calculate a separate index of productivity. To do this, we calculate the change in yield for each type of crop using the following formula:

1. Wheat 2. Barleyi= X1

X0 =20

20=1, 000or 100, 0%

3. Ricei= X1 X0 = 20

20=1, 000or100, 0 % 4. For corn in the corn   

60 65

0 1


i X 1,083 or 108,3 %

Second, we use the following formula to calculate the average productivity index:

% 8 , 105 058 , 15450 1 373300 13317: 340575 520

180 250 14500

0 , 60 520 0 , 20 180 0 , 20 250 0 , 23 14500 567 :

250 320 12180

0 , 65 567 0 , 20 250 0 , 20 320 0 , 24 12180 :

0 0 0 1

1 1 0

1 x x x x x x x x ёки



Iх X

This means that in 2020, compared to 2018, the average yield of grain crops increased by 5.8%.

Further strengthening of macroeconomic stability and maintaining high rates of economic growth:

ensuring sustainably high growth rates of gross domestic product by maintaining macroeconomic balance, deepening structural and institutional transformations based on the implementation of the adopted medium-term programs;



0 0 0 1

1 1 0

1 :


ensuring the balance of the State budget at all levels while maintaining the social orientation of expenditures, improving inter-budgetary relations, aimed at strengthening the revenue side of local budgets;

continuation of the course towards reducing the tax burden and simplifying the taxation system, improving tax administration and expanding measures of appropriate incentives;

further improvement of monetary policy by applying instruments in accordance with international best practices, as well as the phased introduction of modern market mechanisms for foreign exchange regulation, ensuring the stability of the national currency;

deepening reform and ensuring the stability of the banking system, the level of capitalization and the deposit base of banks, strengthening their financial stability and reliability, further expanding lending to promising investment projects, as well as small businesses and private entrepreneurship;

expanding the volume of insurance, leasing and other types of financial services by introducing new types of them and improving the quality, as well as developing the stock market as an alternative source of attracting capital and allocating free resources of enterprises, financial institutions and the population;

further development of international economic cooperation, including by expanding ties with leading international and foreign financial institutions, continuing a balanced policy of foreign borrowing, effective use of attracted foreign investments and loans.

Reforming the public administration system:[6]

reforming the system of public administration and civil service through the decentralization of public administration, increasing the level of professional training, material and social security of civil servants, as well as a phased reduction of state regulation of the economy;[7]

introduction of modern mechanisms of public-private partnership aimed at increasing the efficiency of mutually beneficial cooperation in the implementation of the tasks of the country's socio-political and socio-economic development;

ensuring the openness of the activities of public authorities and administration, the introduction of modern forms of providing information regarding the rights, freedoms and legitimate interests of individuals and legal entities;

improving the "Electronic government" system, increasing the efficiency, quality of provision and accessibility of public services for the population and business entities.

We recommend the most optimal, in our opinion, criteria for the distribution of costs for materials, wages, car insurance and license fees between tour packages, which are the main costs of road transport services for tourists in tourist organizations, as well as the procedure for


calculating this distribution by direct and indirect methods will allow tourism enterprises to fairly distribute and reflect on the accounts general production costs (tour operator, travel agency services) and accurately calculate the cost of a tourist product, and will also contribute to the correct formation of financial results in this area [8]

The republic has not yet developed a unified algorithm for determining the selling price of a tourist product. On the basis of our proposed arithmetic formula, it is possible to determine the actual and standard selling price of both a single tour package and all tour packages. [9]

Compilation of internal segmental reporting on expenses in tourism organizations by objects (centers) of responsibility for management purposes is of great importance. The objects (centers) of responsibility in tourism organizations are tour packages directly provided to tourists in certain destinations. Segmental reports proposed in our work embody information on the standard and actual cost in the context of each tour package, as well as deviations between them. [10]

It is expedient to replace the concept of “income”, cited in some of the NAS (№2,3,21) in force in the republic, with the word “revenue”. This will allow us to bring accounting in our republic, including the procedure for accounting for financial results in accordance with international financial reporting standards, and correctly form financial results in practice. [11]

Financial analysis carried out in tourism organizations based on financial accounting and reporting data does not fully reveal the internal potential for increasing income, expenses and profitability of tourism products. These capabilities can be achieved through the use of models aimed at management goals, including the cost-product-profit analysis model (CVP models). Our proposed model of analysis of tourist products in the chain of "production, sale and profit" shows that in the LLC "Grand Comfort travel", which is the object of research, the additional sale of 200 tours will provide a break-even point, and the additional sale of 400 tours will provide full coverage of fixed costs in the amount of 180,000 thousand soums and net operating profit in the amount of 60,000 thousand soums. [12]

One of the important tasks of management accounting and analysis is the development of a draft budget of the profit and loss statement for the coming years. We have developed a budget for the profit and loss statement for 2020-2022 for Grand Comfort Travel LLC, which is the object of the study. According to him, it is predicted that in 2022 the company's break-even point will be 521 million soums, a safety point 343 million soums, a security level of 40% and operational leverage by 1.6 times. [13]

The implementation of scientific proposals and recommendations will contribute to the further development of tourism in our country, which has been assigned the status of a strategic sector, [14] bringing accounting and reporting in the industry in line with international standards, increasing the profitability of travel companies in the current environment of increasing


competitive environment. Tourism is one of the world‟s fastest-growing industries and a major foreign exchange and employment generation for many countries. It is one of the most remarkable economic and social phenomena.

The world „tour‟ is derived from the Latin word tornus, meaning „a tool for making a circle‟. Tourism may be defined as the movement of the people from their normal place of residence to another place ( with the intention to return) for a minimum period of twenty-four hours to a maximum of six months for the sole purpose of leisure and pleasure.


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Economics, 2011

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InternationalScientificandPracticalConferenceWorldscience 4 (9), 16-19

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nauk -T: 1999.


Political Science Proposition: Formirovanie, раскрытие / О.В. Rojnova, S.N. Grishkina. - M.

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