ORGANIZATIONAL AND METHODICAL ASPECTS OF ACCOUNTING POLICY: INTERNATIONAL EXPERIENCE
Journal Title: Економічна стратегія і перспективи розвитку сфери торгівлі та послуг - Year 2017, Vol 1, Issue
Abstract
Gradual process of Ukraine integration into the European Union needs the study of international experience in the organization of accounting and financial reports compilation by business entities. It is determined that the organization of accounting begins with the development of a company’s accounting policies in different countries of the world. It is the main internal regulatory document for managers that gives qualitative accounting and analytical support. Organizational principles of accounting policy formation in international accounting practice for raising the informativeness of accounting policies in Ukrainian enterprises and their compliance according to IFRS during the period of European integration are defined. The essence of the category "accounting policy" in the conditions of accounting globalization and internationalization is investigated and analyzed. It is determined that the characteristic of the essence of the concept of "accounting policy" in domestic and foreign practice means a set of principles, methods, rules and procedures, methods of valuation used by the entity for the preparation of financial reports. The main components of accounting policy in Ukraine are identified. Key elements of the accounting policy of enterprises in Hungary as a partner of Ukraine are determined. World integration processes predetermine the necessity to identify the most significant components of the accounting policies of European entities in accordance with IFRS as well as US corporations in accordance with the current US accounting principles. The element revealed in the accounting policies of European and US companies are analyzed and comparatively characterized. It is noted that the mentioned foreign approach does not correspond to modern methods of accounting policy formation in Ukrainian enterprises. Accounting policy in foreign countries orientates towards the formation of financial reporting of enterprises and provision of necessary and reliable information to users for decision-making. However, it is discovered that managerial aspect of accounting organization is absent. It is determined that the identified characteristic components of foreign countries accounting policies will expand the range of choices for accounting in Ukrainian enterprises
Authors and Affiliations
Андрій Янчев, Людмила Кирильєва, Дарія Шеховцова, Марина Кириленко
Keywords
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- EP ID EP246873
- DOI 10.5281/zenodo.1109035
- Views 122
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