Accounting Policies its Essence and Purpose

Abstract

The article is devoted to theoretical substantiation of certain critical accounting policies, investigated the nature and purpose of accounting policies. It is proved that the accounting policy is developed individually by each enterprise and is designed to ensure the reliability and accuracy of their financial information system. Identified a number of factors influencing the selection and justification of accounting policies. It is grounding a necessity in accounting policy in Ukraine. It is proved that an important part of the overall management mechanism and economic activity of enterprises is skillfully formed accounting policies. The causes and trends are reviewed that contribute to the formation of accounting policy with regard to the requirements of applicable law. Found that the purpose of accounting policy is to streamline your process to ensure complete, accurate and unbiased information for effective management. Enterprise independently develops accounting model that provides information about the company to all interested users