THEORETICAL ASPECTS OF FORMATION OF ACCOUNTING POLICY OF THE ENTERPRISE

Анотація

The article highlights the concept of accounting policy, identifies the main prerequisites for the formation of accounting policy of the enterprise and analyzes the approaches to the order of its formation, defines the role of accounting policy in the management of the enterprise. In the course of the research it was recognized that the process of formation of accounting policy of enterprises in Ukraine is regulated by a large number of regulations of different subordination, which contain contradictions, and this impairs the quality of financial information. In practice, a situation is quite common when the company has formal approaches to determining accounting policies, in which this process is not given due attention, which leads to a decrease in its effectiveness in making management decisions. Mistakes in the formation of accounting policies can have a negative impact on corporate taxation, as accounting policy is a powerful tool that can protect the position of the taxpayer and provide evidence to confirm the legitimacy of accounting approaches and the correctness of accounting. In modern business conditions, the process of forming the accounting policy of the enterprise requires a broader range of principles that would take into account not only the functions of accounting and reporting, but other management functions related to planning and forecasting, analysis and control, which would provide a strategic vision and ways to solve them. Properly formed accounting policy significantly affects the effectiveness of management of the enterprise and the strategy of its development in the long run. Each company, depending on the specifics of its activities, should choose approaches to the formation of its own accounting policy that will ensure the maximum effect of accounting, timely formation of reliable financial and management information, accessible and useful for management decisions and a wide range of users. On the basis of such information, you can objectively assess the activities of the enterprise, develop specific proposals for improving and strengthening the financial stability of the enterprise and increase its business activity.

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