The article is devoted to substantiating the economic feasibility of capital investments in investment and construction projects. The principles, rules, procedures and mechanisms of the current legislation on the regulation of investment activity are analyzed. It is shown that an investment project is defined by law as documentation confirming the financial rationality, size and duration of investment, including the preparation of the required project documentation. It is established that at an early stage, in order to decide on the allocation of budget funds and their size (before being included in the Federal targeted investment program or Federal target program), an investment justification procedure is carried out, which involves an assessment of the economic feasibility and effectiveness of administrative, territorial, organizational, technical and technological solutions proposed within the framework of a future project. The article describes the implementation of the procedure for evaluating the effectiveness of investment programs, which is based on the principle of simulated resource provision, carried out on the basis of the analysis of cost indicators of construction resources in the design documentation of analogous objects. The sequence and features of modeling the resource supply of investment projects are described methodologically, which consist in resource and technological modeling of the cost indicators of the project documentation of analogous objects. The significance of the research consists in the practical application of resource and technological modeling of resource provision for investment projects, which allows to justify the decision to allocate budget funds for investment and construction projects, reduce the risk of inaccurate estimation of the estimated cost during design and construction in terms of an unjustified increase in the required financing or underfunding of the object.

The defining criterion of financial and economic activity of construction enterprises is the profit determined by organizations as a result of planning contracts and construction contracts, analyzing their implementation and taking management accounting of expenses and income of the organization. The determination of the cost of work and services performed is carried out by construction companies independently, based on the actual costs of such work performed and similar facilities. Depending on the characteristics, types and conditions of work performed by construction organizations, an important task in forecasting profit and break-even of enterprises is the cost accounting policy that determines the formation of the cost of construction products (works and services performed), including tax deductions on the fixed assets of organizations available on the balance sheet. At the same time, the actual financial condition of construction contractors (the amount of compensated funds) depends on the price set by state construction contracts, and the estimated documentation formed in the process of architectural and construction design, calculated using estimated standards (including estimated profit rates, overhead costs), competitive procedures, conditions for concluding investment and construction contracts, construction work and delivery of work to the customer.

Subject: The subject of research is the accounting policy of a construction organization and the system of formation of the cost of construction products.

Materials and methods: It is noted that a significant factor in the formation of the cost of construction products (works and services) are, including costs in the form of tax deductions and other mandatory payments (property tax on industrial and office buildings) on the balance sheet (owned) organizations of fixed assets. It is stated that the issue of attributing expenses in the form of the above-mentioned tax deductions to the cost of production, performance of works and provision of services is not clearly regulated by law. The research method is structural and functional analysis.

Results: A reasoned confirmation of the conditions (principles) of attribution (reflection) in the accounting of property tax costs, depending on the characteristics (types) and conditions of work performed by construction organizations, is given. Different approaches are noted in determining the system of accounting for income (profit) and expenses in the estimated pricing used in determining the price of a government contract, as well as accounting and tax accounting. An assessment of these differences is given. It is stated that a significant decrease in the standard of estimated profit in the estimated cost of facilities for the main types of work (construction, repair and construction, installation of equipment) generally negatively affects the financial position of contractors.

Conclusions: The actual financial condition of contractors directly depends on the amount of compensation (replenishment, coverage) calculated according to the standard of estimated profit of funds. The analysis of the estimated profit standard revealed a significant decrease in the estimated profit of contractors for the main types of work. These differences, expressed in the approaches to accounting for income and expenses, reduction of estimated profit standards and inclusion of property tax expenses in the expenses accounted for by the overhead standard, directly affect the deterioration of the actual financial indicators of contractors.

The article is devoted to the peculiarities of the accounting policy of expenses (taxes, fees, payments and other mandatory deductions) that affect profitability (profitability) construction contractors, as subjects of investment and construction activities. It is noted that a significant factor in the formation of the cost of construction products (works and services) are, including costs in the form of tax deductions and other mandatory payments (transport tax, payments for mandatory civil liability insurance of vehicles (CTP), land tax) on the fixed assets of production available on the balance sheet (owned) of organizations. Some features of accounting and taxation of leasing property (real and movable) are described. It is stated that the legislation DOIs not clearly regulate the issue of attributing the costs of the above-mentioned tax deductions to the cost of production, performance of works and provision of services. The reasoned confirmation of the conditions (principles) of attribution (reflection) in the accounting of the costs of the above taxes, depending on the features (types) and conditions of the work performed by construction organizations, is given. Different approaches are noted in determining the system of accounting for income (profit) and expenses in the estimated pricing (used in determining the price of a government contract), as well as accounting and tax accounting. The assessment of these differences negatively affecting the financial position of contractors is given.

The article describes information flows under the implementation of investment and construction processes at the stages of construction cost determination with the application of relevant standards and regulations. The planning processes of budget investment carrying out in accordance with the rules of process implementation and with the application of relevant regulations are updated. The regulations described in the article provide the opportunity of using comparable objects for the capital construction of non-industrial facilities and engineering infrastructure. The criteria of investment and construction process cost-forming component are developed. They allow to estimate the cost parameters (limits) necessary for the implementation of specified stages of an investment and construction project. The process of construction cost formation and change is structured as well. Particular importance in the formed system is given to the transparency of pricing in the construction and organization of information resources available for the use by all the participants and concerned parties.