On January 1, 1999, accounting provision 34n came into force. It refers to the Program for the Reform of Financial Reporting in Russia , created according to international standards. New accounting provisions are formed from several sections.
First section
This part describes the basic accounting provisions. Consider its brief content. The first section includes the main provision for accounting, established by the law of Russia, the rules for generating reports and their transmission for consideration to authorized persons. In the same part, the features of the transfer of necessary information to consumers are established. In addition, a clear definition of the term “accounting” is given here, the main components are described and its main goals are set, and the rules for regulating this procedure are described. All these principles are based on the laws of the Russian Federation and regulatory and legal acts. Responsible persons who control the strict implementation of all the rules are also mentioned. The size and complexity of the work allows the head of the organization to create a specialized department, which will be headed by a chief accountant or a hired specialist, or you can ask for help from an organization working with accounting (this task can be performed by one person). But also the head can do the work of reporting independently.
Second section
This section contains the main provisions on accounting (PBU), the rules for the systematization and distribution of information in the cells, examples of issuing property valuation. In the same part, a detailed description of the verification of the availability and recounting of property, as well as the fulfillment of specific obligations, the procedure for detecting inconsistencies of the received data with the original certified in the documentation is given.
Third section
This part of the document describes a number of rules that must be followed when reporting. Their formation is carried out by means of the Federal Law and the Regulation on Accounting. When maintaining reports, it is necessary to observe a double record of all operations conducted on the farm for the working chart of accounts, which is formed on the basis of the general chart of accounts drawn up by the Ministry of Finance of Russia. The accounting regulations of the Russian Federation indicate that all records relating to reporting should be in Russian. In this case, the funds are converted into rubles. If the source documents were compiled in one of the foreign languages, then you must necessarily translate them into Russian. When maintaining records, it is important to indicate the costs of production and output separately from the costs associated with various investments. It is equally important to maintain constant reporting on farm operations. In case of any operation, it is necessary to draw up documents in the process or after the procedure. They need to be filled in accordance with the forms and samples approved by the head of the organization. He has the right to draw up rules for maintaining all documentation and data storage.
Archiving Information
In order to properly organize, distribute and store all papers and information, it is necessary to refer to the samples and standards that are created by the Ministry of Finance of Russia. In addition, regional authorities or organizations themselves can participate in the development of forms, while observing some common rules. It is necessary to evaluate the property, taking into account all the funds spent on its acquisition. If, however, a fee was not charged for tangible assets, then data on the price at the time of receipt are used to carry out the above operations. In the event that information about objects (objects) of property is revealed directly by the organization, the assessment is made in accordance with the cost of the property. In the laws of the Russian Federation and legal acts of the Ministry of Finance, there are isolated cases where the procedure for carrying out this activity may differ from the options described above. An inventory of property assets and liabilities is an integral procedure in accounting. The head of the organization must personally determine the regularity and conditions for the conversion of property. However, there are such exceptions when the inventory becomes mandatory for a certain period and is based on the rules from the Accounting Regulations. Each organization can form individual reporting rules, but they must be based on common standards and procedures.
Fourth section
For each organization, rules, features and timelines are established in which it is necessary to submit all accounting reports for the year. It is also mentioned that the information received is available for review by banks, investors, creditors, buyers, suppliers and any other interested parties. The rules and procedures for the submission of documentation are determined on the basis of the laws of the Russian Federation.
Fifth section
If the organization has subsidiaries or affiliates, then its responsibilities include not only monitoring and maintaining its own financial statements, but also the preparation of general documentation. It includes information about all organizations that are subordinate to the main one, even if they exist outside of Russia. When preparing documentation, it must be signed by the head of the organization and the accountant who was involved in the preparation of reports.
Sixth section
This part of the document describes the rules for the distribution, structuring and storage of all accounting documents. The time periods during which it is allowed to store papers and statements are determined by national rules for the formation of archives. However, usually this period cannot be less than five years. The bodies of inquiry are the right to pick up the documents , the prosecutor's office, the court and the tax police or inspection. The person responsible for the storage of documentation and reporting is the head of the organization. The chief accountant, as well as another person whose work is connected with the reporting, is allowed to make copies of the documentation in case of seizure. It is necessary to do this with witnesses, who are the representatives of the authorities who seize the documents. It is necessary to indicate the date of the procedure and the reason why it became necessary to create copies.
Definition of Assumptions
This term can be called the basic principles and provisions on accounting. Speaking specifically about reporting in Russia, the assumption is the rules for its preparation. This term also applies to record keeping. The organization is not obliged to mention and declare the existence of a set of orders, since their presence is obvious. However, deviations from the rules that arise during the preparation of documentation are not allowed. If there are any, then the reason for what happened must be indicated. A number of assumptions are highlighted, which include the isolation of the organization according to the property criterion, continuous activity without interruptions, compliance with the rules of the accounting regulations at the indicated times, as well as in the right sequence.
Reporting requirements
For accounting statements around the world, there are other rules and principles. These include caution, materiality, property valuation rules. For such principles, the term “requirements” has been introduced in Russia. Each organization must take into account the requirements for completeness, timeliness and consistency of the compiled accounting documentation. There are several basic principles. The first requirement is to display in the documentation all aspects of the activity.
The second suggests that all activities should be displayed in the accounting documentation in a timely manner. In addition, there is a requirement for prudence (another name for caution). This concept refers to the ability of an organization to prepare for losses. In other countries, the organization’s income is taken into account in the documentation only after it is received, while losses can be mentioned only when there is only a threat of their occurrence. In order to solve this problem, organizations need to have backup funds.