REGULATORY PROVISION OF ENTERPRISE ACCOUNTING POLICY

Abstract

The features of accounting policy formation are considered in the article taking into account the provisions of the current regulatory framework. The international practice of regulation of accounting policies of the enterprise from the adoption of the first IAS to the present day is investigated. The terms given in domestic legislation and foreign regulations are compared. The role, objectives and significance of accounting policies in an entity's activities are determined. In addition, a list of factors that influence the process of accounting policies and the choice of its elements. The impact of each of them is investigated. The comparative analysis of changes in some legal acts affecting accounting policy is made. It has been established that changes in legislation directly affect the accounting policy-making process. Thus, the addition of the term "accounting policy" contributes to the full disclosure of its essence. Because accounting policies are intended to facilitate, first of all, accounting and then the formation of financial statements. Supplementation of other articles influences the formation of certain elements of accounting policy, which form both methodical component, organizational and technical. The basic normative legal acts regulating the formation and use of accounting policies of an enterprise in Ukraine are given. It is stated that these normative legal acts do not regulate the structure of the accounting policy order, thus bringing this issue to the attention of the head and the chief accountant. In this connection, the standard structure of the accounting policy order is outlined and the stages of its formation are set out, which is not specified in the current regulatory framework. It is proposed to develop and introduce a separate P (C) IAS, which would regulate exclusively the issue of accounting policy formation, indicating the structure of the accounting policy order and the stages of its formation. As a result of the study, conclusions and suggestions were formed.