Organization of accounting in non-state pension funds: methodological-technical and management aspects

Abstract

In the financial market, non-state pension funds are not a priority, as banking institutions are most important. This is a reason for distrust and vigilance of the population to the appropriate institutions, which limits the development of non-state pension funds. Therefore, the activity of non-state pension funds necessitates close supervision of the state, which in turn actualises the need to investigate the problem of optimal and rational organization of accounting in order to ensure timely control, management and full legal and impartial information on the activity of non-state pension funds. The article investigates the peculiarities of accounting organization in non-state pension funds. It is established that non-state pension funds in accounting are guided by the general legislative and regulatory framework and specific normative legal acts. Taking into account that non-state pension funds do not have targeted financing, their activity is limited to a small number of business operations, so three main stages of accounting organization in the following funds are distinguished: methodiological accounting stage, which is characterized by the choice of special techniques: documentation, double entry, analytical and synthetic accounts, property valuation, costing, inventory, reporting; technical stage of accounting, which consists in the choice of the method of accounting; stage of accounting management, which is the organization of accounting management and is responsible for the complex operation of the accounting apparatus. The peculiar features of accounting policy formation in non-state pension funds (corporate, professional and open), which are based on the provisions of international financial reporting standards, are determined. The types of non-state pension fund assets and securities have been identified – cash and its equivalents, deposits, debt securities, equity instruments, accounts receivable, which have the ability to accumulate and subsequently be used for investment activities.

Keywords

• accounting organization
• accounting policy
• non-state pension funds
• management
• joint investment institutions