Development of accounting policy

Development of accounting policy

Adoption of the Tax Code has set new requirements for the enterprise, sometimes very complicated, which require a deep knowledge of national regulations (standards) of accounting, the current tax laws in Ukraine, especially in accounting and reporting.

Transition to new accounting system is connected with certain difficulties and envisages performance of certain operations in accounting, in particular the correct definition of cost of goods, works and services, the order of recognition of income and expenses involved in the definition of taxation, etc.

Advantages of implementation of accounting policy:

  • creation of social safety nets to protect the external users by ensuring the unity of interpretation of accounting and tax accounting and indicators of financial and tax reporting;
  • obtain the effect of the use of rational accounting policy, i.e. optimal provision of information management needs, reducing the volume of paperwork, improve the effectiveness of internal control system in the enterprise;
  • use of given freedom of action on the issues of accounting for the creation of an effective accounting system at the enterprise, which will ensure the best interests of the owner;
  • the most complete and effective provision of information to all levels of management in the enterprise is reached using the elements of accounting policy and under condition of specifying requirements for the nature of the required data;
  • consistency of accounting policy and disclosures in the financial statements based on it allows you to build forecast of future financial condition of the enterprise;
  • use of documents on accounting policies to eliminate uncertainties in the regulations on accounting and tax accounting, and as written evidence in resolving commercial disputes, conflicts with tax authorities.

Accounting policies developed by the experts of the audit company "Aksonova & Associates” include:

  • development of methodology and principles of accounting, financial reporting;
  • development of methodology and principles of tax accounting and tax reporting;
  • description of the internal control system.

For more information about consulting services or for a service request, please contact us:

+38 044 568 57 95

+38 044 482 28 58

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