Accounting policies of an enterprise are ... Definition, principles, methods and procedures

Any organization in the territory of the Russian Federation is obliged to keep accounting and tax reporting, to provide the necessary information for extra-budgetary funds and state bodies (depending on the type of its activity). Therefore, an important aspect that needs to be paid attention at the start of operations is the accounting policy of the enterprise. We will analyze what it is, by what sections, methods, procedures it can be presented, what fundamental principles it must comply with.

Definition

The accounting policy of the enterprise is a complex of accounting methods selected by the organization. In particular, primary observations, cost measurements, current groupings, as well as the final summary of the results of financial and economic activity for one reporting period.

Enterprises are developing their own accounting policies based on specific business conditions. Actual regulations also determine the possibility of using alternative accounting techniques.

The implementation of an independent and economically sound accounting, accounting policies of the enterprise allows you to increase the efficiency of the use of cash and material resources, accelerate capital turnover, find and apply additional financial opportunities.

Accordingly, at each stage of economic development of the organization, a certain accounting policy is chosen. This is a responsible choice, as it cannot be changed during the current reporting period.

Goals

The purpose of the accounting policy of the enterprise is to enable consumers of accounting information to judge the state of affairs in the organization as objectively as possible. The accounting policies adopted by companies should maximally disclose financial information not only to internal, but also to external users.

Therefore, the most important elements of the accounting system must be described in detail in the statements. Indeed, to analyze the financial status of an organization, to draw conclusions on the state of its affairs, you need to know how these or other indicators were formed, which contributed to their change.

To realize the goal of such an accounting policy in practice, it is necessary to observe a number of mandatory principles.

Business principles

The principles of accounting policies of the enterprise are the following:

• The use of double-entry methods in accounting for business activities and property of organizations. This is done in accordance with the Chart of Accounts. The fact is that each of the business operations will cause changes in at least two accounts of the current accounting. For example, if cash was received at a bank, then there is more cash already at the company's cash desk. And the balance in the current account of the company will be reduced by the same amount.
• The invariance of the selected accounting policy throughout the entire reporting period, as well as during the transition from one accounting year to the next. The accounting policy of an enterprise (small, medium, large) can be changed only in specific exceptional cases: reorganization (merger, takeover, separation), change of ownership, change in Russian tax legislation, the system of standards governing accounting in the state, development of new methods for its maintenance. Naturally, changes to such a plan should be justified. They are confirmed by execution of accompanying administrative documentation. Such changes must be brought to the attention of external consumers of information.
• Business transactions for the reporting year are reflected in accounting in its entirety.
• Revenues and expenses should be correctly distributed in respect of reporting periods. If income has been received and expenses incurred in a particular reporting period, then they apply only to it, despite the date of actual receipt of money or its payment.
• Separation of expenses for expenses for current activities and expenses for capital investments.

The principles of accounting policies of LLC, enterprises should not contradict the current Russian legislative base.

Choosing the right one

What are we talking about? The formation of the accounting policy of the enterprise is directly related to the economic policy of this organization. Therefore, there are several options:

• The usual conditions. Zdks accounting and accounting policies of the enterprise are aimed at ensuring long-term existence, obtaining a sufficient amount of profit, maintaining expanded reproduction, meeting the cultural and social needs of workers in the organization.
• Inflation, conditions of price liberalization, unstable credit policy, heavy tax burden. Accounting and economic policies are aimed at optimizing costs, minimizing the necessary tax payments.
• Certain periods of company development. The conquest of new markets for the sale of enterprise products, the development of new variations in production, expanding the list of services. Here, when choosing the accounting policy of the organization, the company must take into account that additional investments may be necessary, that there will be a need for additional costs, that various difficulties of the financial plan may arise.

The main components

Accounting policies and accounting are closely interrelated. How? It covers three components of accounting:

1. Organizational. The policy characterizes the construction of the accounting department in the company.
2. Technical The form of accounting is determined.
3. Methodical. It includes the following components: methods for assessing liabilities and property, depreciation, cost accounting, methods of calculating profits, the formation of funds with a special purpose, the creation of reserve funds.

Accounting Examples

We will provide further examples of the accounting policies of the enterprise — several variations in the organization of accounting:

1. A proper chief accountant is introduced into the staffing of the company. Accordingly, this person in charge is subsequently involved in the preparation of accounting reports. Then they are endorsed by the chief accountant and the head of the organization.
2. The staffing table includes the posts of workers conducting primary accounting. As for the preparation of accounting, this is done by specialized audit companies or specialists with the necessary qualifications on contractual terms. Accordingly, the reporting will be certified by the head of the company and authorized representatives of the audit service. In the second option - the head of the company and a specialist working on a contractual basis.
3. The company’s staffing table does not provide for an accounting department at all. Accounting in this case from and to is carried out on a contractual basis by a third-party audit company. Accordingly, accounting will be signed by the head of the company and a representative from the audit company.

Responsibility

Responsibility for the selected accounting policy, as well as for the organization of accounting, lies with the head of the company. The chief accountant of any institution / organization / enterprise is prohibited from accepting for execution and subsequent execution of documentation on the following operations:

• counteracting the current norms of Russian legislation;
• violating both contractual and financial discipline of the employer company;
• without written permission for this action from the head.

Here, the full responsibility for the anti-lawfulness of the actions committed is borne by the head of this institution, enterprise or company.

Reference technique

It is also necessary to determine the technique of accounting policies in the organization:

• Use of a standard (for large, medium-sized organizations) or shortened (for small enterprises) chart of accounts.
• The need to use sub-accounts, which may be different from the recommended chart of accounts.
• The use of systems of accounting registers, their construction, sequence, recording technique, the relationship of these registers.
• The timing of the inventory for certain items: fixed assets, mass of material assets, receivables, regular vacations, etc.
• Credential processing technology, the need to use computing / computer equipment for this.

Methodology

When choosing a methodology for accounting, it is important to determine the following:

• Ways to estimate inventory.
• The formation of sub-groups of material values.
• Methods of procurement, accounting and acquisition of material assets.

Tax accounting

The accounting policy for tax accounting concerns the following important issues:

• Methods of recognition of profits and expenses to determine the objectives of calculating income tax. Cash and accrual methods can be used.
• Method for determining the price of inventories.
• Methods of depreciation of fixed assets of the company and its intangible assets. There are two of them - linear and nonlinear.
• Opportunities for the formation of reserves.
• Methods of calculating VAT. There are two options - for payment and for shipment.

International standards

As for the international accounting policy standards, they are developed by the KMSU (interpretation - Committee of International Accounting Standards). The committee was established in 1973 on the basis of an agreement between accounting representatives:

• Australia
• Great Britain.
• Of Canada.
• Germany.
• France.
• The Netherlands.
• Japan.
• Mexico.
• USA.

The activities of the KMSU are regulated by the Council, which includes representatives of 13 states and four organizations that are interested in developing accounting standards.

Russian regulatory documentation

In Russia, the accounting policy in the field of accounting is regulated by the following:

• Federal Law "On Accounting" No. 402.
• Accounting position PBU 1/2008.

If this is an accounting policy for tax accounting purposes, then it will be formed on the basis of the Tax Code.

The accounting policy of an organization is its own set of methods for tax and accounting. The economic situation of the company and the effectiveness of its use of material resources depend on the correctness of such a choice. There are several options, methods, techniques and models for the formation of such a policy.