Theoretical basics of the accounting policy of enterprises: domestic and international aspects

Abstract

The dynamic development of market relations in Ukraine, the adaptation of the national accounting system to international standards, the presence of enterprises of various forms of ownership contribute to increasing the requirements of internal and external users for the quality of accounting information regarding the financial and economic activities of business entities in order to increase the level of profitability and competitiveness of the company, which, in turn, cannot be properly represented without a rational organization of accounting, a necessary condition of which is the development of the company's accounting policy. The article examines the issue of the theoretical foundations of the company's accounting policy, taking into account national and international aspects. The review of literary sources confirms the relevance of the research and indicates the need to study the works of scientists in order to determine the features of the accounting policy, taking into account domestic practice and world experience for its further application in the enterprise management system. The morphological decomposition of the definition of "accounting policy" is analyzed based on the works of domestic and foreign scientists. The main basic categories that form the basis of the interpretation of the term "accounting policy" are highlighted: totality, system, instrument, contracts and practice. On the basis of the conducted research, it is suggested that the term "accounting policy" should be understood as a complete system consisting of a set of principles, methods, procedures, tools, agreements and practices adopted and used by the enterprise, taking into account the peculiarities of its activity and generally accepted standards of accounting, compilation and submission of financial statements. The need to regulate the accounting policy at several levels is emphasized: interstate, state, industry, and the level of a separate economic entity. It was determined that there is no separate standard that would specifically regulate the accounting policy of the enterprise, neither at the national nor at the international level. The regulatory and legal support of accounting policy at the national and international levels is characterized. A comparative analysis of the main concepts of the company's accounting policy in accordance with IAS and GAAP was carried out. The results of the research can be used by managers and chief accountants of enterprises.