Accounting Policy in Managing the Activity of Enterprises under the Conditions of Harmonization of Accounting and Reporting

Abstract

The purpose of the article is to research theoretical and practical approaches to the formation of accounting policies of the enterprise based on management objectives in the context of accounting harmonization and reporting. The approaches of scientists to the definition of the concept of "accounting policy" with the construction of its structure, the definition of goals and objectives are generalized. The accounting policies are defined in accordance with applicable laws and international standards. The main problems encountered by enterprises in forming accounting policies according to international standards and ways of solving them are described. Taking into account the norms of harmonization, specifics of activity, accounting and reporting information of the enterprise the stages of organization of work of the accounting apparatus are suggested. Directions of accounting policies have been developed to meet the practical needs of stakeholders. To optimize the process of accounting and control the movement of goods, ensure the implementation of quality reporting characteristics and control function of accounting, in the system of effective management of commodity assortment a factorial information model of accounting policy is proposed. It is determined that the methodology of accounting policy, which regulates the implementation of management accounting, based on the principles of IFRS, is a multi-stage process, reflecting the relationship of international standards, financial and management accounting. The problematic issues of transition of enterprise to the use of the conceptual framework of IFRS are researched, which are connected with the change in the structure of accounting policy order. It is determined that the development of accounting policies for management purposes reduces the costs of transformation procedures and is interrelated with the performance of enterprise. Advantages of creating effective accounting policy for investors are based on the relationship of accounting with the main trends of standards at the international level, the integration of management accounting in the IAS and IFRS, and in view of tax purposes. Based on the carried out research, it is concluded that the formation of effective accounting policies will provide additional opportunities for enterprise.

Keywords

• accounting policies
• management
• international standards
• harmonization of accounting and reporting