Sharing economy is a term for a way of distributing goods and services, a way that differs from the traditional model of corporations hiring employees and selling products to consumers. In the sharing economy, individuals are said to rent or "share" things like their cars, homes and personal time to other individuals in a peer-to-peer fashion. one of the best example of shared economy is Uber Technologies Inc. So, My question is "how can we prepare the financial statements of like these companies? is there any accounting standard to deal with them?"
Dear Tabit,
This is certainly a new area and Researchers like you can work to develop appropriate Accounting Standards.
ACCOUNTING STANDARDS do not depend on business models. Whatever the business model may be, for purposes of accounting report, it must comply with the record keeping and reporting standard. the three basic reporting statements are: (i) income statement, (ii) balance sheet, and (iii) statement of cash flow. Details on IFRS standards may be found here:
https://www.ifrs.org/issued-standards/list-of-standards/
In some cases, this sharing economy looks more like a means for exploiting the weakest than a means for sharing goods use. For example, in the case of Uber drivers or food delivery. Some examples below:
Conference Paper Regulating the OSH impact on online platform economy (OSHA S...
Book Preview: Platformisation 2027
of course, as the others said. It's an interesting idea and a concept which we can apply in many more different working environments. Thank you.
But sorry to say that I have no idea about its standards.
