Basic principles of financial accounting. Basic principles of construction and accounting of financial statements. Assumption of currency stability

Accounting financial accounting is a system for collecting and processing accounting information necessary for compiling financial reporting. Financial accounting includes information on the accounting of balance accounts: fixed assets - intangible assets, financial investments, inventories, Money, and is used not only within the enterprise, but also by external users. Financial accounting is regulated by regulatory documents.

Purpose of financial accounting- formation of information about the activities of the organization as a whole: income and expenses, the state of funds, receivables and payables, payments to the budget and extra-budgetary funds, financial investments, financial results and so on. The subject of financial accounting- economic activity of the enterprise. Objects are property (economic assets, assets of the enterprise), capital and liabilities of the enterprise (sources of formation of property), as well as business transactions that cause a change in property and sources of its formation.

Principles of financial accounting. 1. The principle of monetary expression - accounting operates with data that have monetary value.2. The principle of autonomy of the enterprise - the accounting accounts of the enterprise are autonomous from the accounting accounts of its owners and employees.3. The principle of continuity - the company works indefinitely.4. The principle of materiality is not to waste time on accounting for insignificant facts.5. The principle of conservatism - when choosing an accountant chooses the amount that is less optimistic.6. The principle of constancy - during one reporting period you need to use one form and method accounting.7. The principle of national currency - in accounting, the method of valuation of funds in a constant currency is used throughout the entire reporting period.8. Cost principle - funds are valued at cost at the time of acquisition, and not at market value.9. The principle of implementation - enterprises take into account their income at the time of shipment of goods, and not at the time of payment.10. The principle of conformity - profit - revenue of the reporting period - the costs of this period.11. The principle of duality is the principle of balance, when accounting information is considered according to the composition of funds and the sources of their formation: the totality of all funds (asset) is equal to the totality of sources (liability); the principle of double entry: a business transaction that changes the composition of the means and sources of formation does not violate the principle of balance. Tasks of financial accounting.

1. Formation of complete, reliable information about the activities of the enterprise required by users.2. Providing users with information to monitor compliance with the law, the feasibility of business operations, the availability and movement of property and obligations, the use of material, labor, financial resources in accordance with approved standards. 3. Prevention of negative results of economic activity.

4. Identification of on-farm collateral reserves financial stability enterprises. Accounting and financial reporting are based on the following basic principles: prudence- the use of valuation methods in accounting, which should prevent underestimation of liabilities and expenses and overestimation of assets and income of the enterprise; full coverage- financial statements must contain all information about the actual and potential consequences of business transactions and events that can affect the decisions that are made on its basis; autonomy- each enterprise is treated as a legal entity separate from its owners, and therefore the personal property and liability of the owners should not be shown in the financial statements of the enterprise; subsequence- constant (from year to year) application by the enterprise of the selected accounting policy. A change in accounting policy is possible only in cases provided for by national accounting regulations (standards), and must be justified and disclosed in the financial statements; continuity- assessment of the assets and liabilities of the enterprise is carried out on the assumption that its activities will continue; accrual and correspondence of income and expenses- to determine the financial result of the reporting period, it is necessary to compare the income of the reporting period with the expenses that were made to obtain these incomes. At the same time, income and expenses are displayed in accounting and financial statements at the time of their occurrence, regardless of the date of receipt or payment of funds; essence over form- transactions are accounted for in accordance with their substance, and not only on the basis of their legal form; historical (actual) cost- the priority is the assessment of the assets of the enterprise, based on the costs of their production and acquisition; single money meter- measurement and generalization of all business operations of the enterprise in its financial statements is carried out in a single monetary unit; periodicity- the possibility of distributing the activities of the enterprise for certain periods of time for the purpose of compiling financial statements.

In order to facilitate the understanding of financial statements by its users, a set of generally accepted accounting principles (GAAP) (GAAP) has been created, consisting of criteria, rules and procedures, commonly referred to as accounting standards, as a guide to financial accounting and reporting.

As discussed earlier in defining the users of accounting information, entities various countries prepare and present financial statements in different ways. Moreover, in some countries, such as France, Germany and Japan, accounting standards are set by law; while in other countries, such as Australia, Canada, Sweden, the UK and the US, the accounting profession is more involved in the standard-setting process. For example, in the United States, the Financial Accounting Standards Board sets accounting standards, which are then overseen by the Financial Accounting Standards Board. securities and the US Exchange, which is a government agency for protecting the interests of investors.

The goal of the International Accounting Standards Board (IASB) is to harmonize regulations, accounting standards and procedures around the world by creating a set of International Accounting Standards that everyone can agree on.

Standards adopted before 2001 are called International Accounting Standards (IAS), all subsequent standards are called International Financial Reporting Standards (IFRS). Given that the main objective financial reporting is about providing information useful for making economic decisions, the IASB believes that these accounting standards will meet the needs of most users.

Of course, national standard-setting bodies and governments will also want to include some different or additional requirements for their own purposes, but this should not interfere with the basic need to provide relevant information for economic decision making.

However, accounting standards are not like the immutable laws of nature used in fields such as chemistry and physics. They are developed by accountants, businesses, and legislators to meet the needs of decision makers and are subject to change as they become available. best practices or circumstances change.

In this paper, we present the main elements of accounting practice based on international accounting standards. We also try to explain the reasons or theory behind the practice and take a global perspective that takes the practice into account. different countries when appropriate.

Both theory and practice are part of the study of accounting. At the same time, it is necessary to understand that accounting is an ever-changing, growing and improving discipline. Just as it takes years of research to introduce a new surgical technique or a life-saving drug, it can take years to research and discover in accounting. As a result, you may encounter conflicting cases in practice.

International Accounting Standards - IAS / IAS

• IAS 8. Accounting Policies, Changes in Accounting Estimates and Errors.
• IAS 10. "Events that occurred after the balance sheet date."
• IAS 11. Construction Contracts.
• IAS 14. "Segment reporting".
• IAS 18. "Revenue".
• IAS 20. Accounting for Government Grants and Disclosure of Government Assistance.
• IAS 24. Related Party Disclosures.
• IAS 26. "Accounting and reporting on pension plans."
• IAS 27. Consolidated Financial Statements and Accounting for Investments in Subsidiaries.
• IAS 28 Investments in Associates and Joint Ventures.
• IAS 29. "Financial reporting in a hyperinflationary environment."
• IAS 31. Financial Statements of Interests in Joint Ventures.
• IAS 32. Financial Instruments: Disclosure and Presentation.
• IAS 34. Interim Financial Reporting.

The accounting system is divided into two subsystems: financial accounting and management accounting.

Accounting financial accounting is a system for collecting and processing accounting information necessary for the preparation of financial statements. Financial accounting includes information on the accounting of balance accounts: fixed assets - intangible assets, financial investments, inventories, cash, and is used not only within the enterprise, but also by external users. Financial accounting is regulated by regulatory documents.

Purpose of financial accounting– formation of information about the activities of the organization as a whole: income and expenses, the state of funds, receivables and payables, payments to the budget and extra-budgetary funds, financial investments, financial results, etc.

The subject of financial accounting- economic activity of the enterprise.

Objects are property (economic assets, assets of the enterprise), capital and liabilities of the enterprise (sources of formation of property), as well as business transactions that cause a change in property and sources of its formation.

Principles of financial accounting.

1. The principle of monetary expression - accounting operates with data that have a monetary value.

2. The principle of autonomy of the enterprise - the accounting accounts of the enterprise are autonomous from the accounting accounts of its owners and employees.

3. The principle of continuity - the company works indefinitely.

4. The principle of materiality - do not waste time on accounting for insignificant facts.

5. The principle of conservatism - when choosing, the accountant chooses the amount that is less optimistic.

6. The principle of constancy - during one reporting period, you need to use one form and method of accounting.

7. The principle of national currency - in accounting, the method of valuing funds in a constant currency is used throughout the reporting period.

8. Cost principle - funds are valued at cost at the time of acquisition, not at market value.

9. The principle of implementation - enterprises take into account their income at the time of shipment of goods, and not at the time of payment.

10. The principle of compliance - profit - revenue of the reporting period - costs of this period.

11. The principle of duality - the principle of balance, when accounting information is considered according to the composition of funds and sources of their formation: the totality of all funds (assets) is equal to the totality of sources (passive); the principle of double entry: a business transaction that changes the composition of the means and sources of formation does not violate the principle of balance.

Tasks of financial accounting.

1. Formation of complete, reliable information about the activities of the enterprise, necessary for users.

2. Providing users with information to monitor compliance with the law, the feasibility of business transactions, the availability and movement of property and obligations, the use of material, labor, financial resources in accordance with approved standards.

3. Prevention of negative results of economic activity.

4. Identification of on-farm reserves to ensure the financial stability of the enterprise.

Concepts, standards and principles of accounting

Purpose of the lecture:-to give students a comprehensive understanding of accounting as a system, to give an idea of ​​financial statements as a source of economic information.

Questions:

Subject and principles of accounting

Classification of enterprise funds

Accounting methods.

Accounting as an information system

1.Official date The origin of accounting is 1494. This year, the first textbook on accounting was created by the Italian scientist, mathematician Luca Pacioli. “Treatise on accounting. accounts and records.

Type of accounting:

1. Operational

2. Statistical

Z. Accounting - it is characterized by continuity, strict documentation, monetary value.

Bukh. accounting is a system for collecting, measuring, registering and summarizing information about assets, equity, liabilities, income and expenses of an economic entity, regulated by financial reporting standards and other regulatory legal acts

4. Tax accounting

5. Financial accounting

6. Management accounting

Each organization must conduct mandatory accounting. double-entry accounting in accordance with standards (NFRS and IFRS). accounting policy of the enterprise and other regulations.

In market conditions accounting acquires special meaning performs other functions. In market conditions, various kinds of risks and uncertainties arise, and reliable accounting information is necessary for adequate management. Based on the information received with the help of accounting. accounting stakeholders can make the right management decisions. IN modern conditions management is almost impossible to manage the economic mechanism of the subject without timely. complete and correct information. provided by a well-established accounting system.

Thus, the tasks of accounting / accounting are:

1. Providing the organization, as well as other interested parties with complete and reliable information about its economic activities.

2. Providing information necessary for state bodies to control compliance with the legislation of the Republic of Kazakhstan.

Legislative regulation of bookkeeping / accounting in the Republic of Kazakhstan, reform of bookkeeping / accounting in the Republic of Kazakhstan .

The main regulatory documents governing the conduct of accounting. accounting is:

1. Law "On Accounting and Financial Reporting".

2. Conceptual basis for the preparation and presentation of financial statements.

H. Code of the Republic of Kazakhstan “On taxes and other obligatory payments to the budget” (Tax Code).

4. Accounting standards. accounting (NSFR and IFRS) and other regulations. The Law “On Accounting and Financial Reporting” defines the system of accounting and financial reporting in the Republic of Kazakhstan, establishes the principles and main qualitative characteristics, as well as general rules bookkeeping/accounting and preparation of financial statements (FO). An integral part of the formation of the capital market in the Republic of Kazakhstan, as well as integral part of the entire economic reform, is the reform of accounting. Reasons for reforming accounting. Accounting: 1 .Provide necessary information internal and external users, 2. entry into the international market, which required the development and adoption of international accounting standards that meet the requirements of international accounting. 3. Development of the securities market, expansion of investments. Financial statements - represents information about the financial position, results of operations and changes in the financial position of the organization. Financial statements include: Balance sheet; Gains and losses report; Cash flow statement; Statement of changes in equity; Information about accounting policy and explanatory note; Financial statements may be supplemented by other materials. The volume, forms, and procedure for presenting financial statements are determined by the authorized body in accordance with the law. Financial statements are filled in the national currency. signed by the head and chief accountant. Financial statements are filled out for the reporting period. The reporting period is a calendar year (January 1 to December 31.) or from the moment of registration until the closing of the organization.

The users of financial statements are:

1.Investors;

2. Bankers;

3. Lenders, suppliers;

4. Debtors, buyers;

5. Employees of the enterprise;

6. Tax authorities;

7. Stat. organs;

8. Credit institutions;

9. Financial authorities.

International Financial Reporting Standards (IFRS).

Standards is a set of rules and methods of bookkeeping/accounting. The preparation of financial statements is carried out in accordance with international standards. International standards provide users with objective and reliable information, facilitate access to world capital markets, and reduce costs for attracting it. IFRS are aimed at ensuring transparency and reflecting the real economic situation. At the heart of all international standards is a set of principles called the framework for the preparation and presentation of financial statements, they underlie all developed standards. The transition to IFRS will improve the quality of work and, as a result, increase the investment attractiveness of the domestic market. 6. Meters used in accounting. There are 3 types of meters: 1. natural (pieces, kg, etc.) 2. labor (in hours, minutes, elapsed time is measured) 3. money meter (tenge, tiyn).

Questions for self-control:

1. Give the concept of IFRS.

2. What accounting meters do you know.

3. List the composition of the financial statements.

4. Who are the users of financial statements.

5. What is the role and importance of bookkeeping / accounting in conditions market economy 6. Tell us about the emergence of accounting, its types.

7. List the legislative and regulatory documents governing accounting.

Konconceptual framework is the basis for the development of standards. Accounting principles- lie at the heart of the entire accounting process. Accounting principles include the accrual principle and the continuity principle.

accrual principle-. means the recognition of the results of activities, as well as events upon their completion, and not after their payment, i.e. income is recognized not when the money is received, but when it is earned. Similarly, expenses are recognized and reflected. in accounting not when the money is paid, but when they arise. Continuity principle means that the organization is active and will continue to operate for the foreseeable future, i.e. the organization has no intention to liquidate or reduce its activities. In addition to principles, qualitative characteristics are set out in the conceptual framework.

Qualitative characteristics are presented to the financial statements in order to obtain useful financial statements for users.

The main quality characteristics are:

Clarity: The information must be understandable to users, for this users must have sufficient knowledge in the field of economic and economic activity. Accountability and willingness to learn information.

Relevance: In order for information to be useful, it must be relevant to decision makers. Information is relevant when it affects economic decisions of users, helping them evaluate past, present and future events, confirm or correct their past assessments.

Materiality: The relevance of information is strongly influenced by its nature and materiality. Information is considered material if its omission or misstatement could influence the economic decision of users taken on the basis of the financial statements.

Reliability: Information is reliable when it is free from material errors and misstatements and when users can rely on it to be true.

True Presentation: To be reliable, information must reflect transactions and other events truthfully.

Predominance of Essence over Form: For a fair presentation of transactions, other events, it is necessary that they be taken into account and presented in accordance with their essence and economic reality, and not just their legal form.

Neutrality: Financial statements will be neutral if, by the very selection or presentation of information in order to achieve a planned result, it does not influence the decision-making or the formation of a judgment.

Prudence: This is the observance of a certain degree of caution in the formation of judgments for the calculations required under conditions of uncertainty.

Completeness: To be reliable, information in financial statements must be complete, taking into account materiality and the cost of obtaining it.

Comparability: Users should be able to compare the entity's financial statements for different periods in order to determine trends in its financial position and results of operations.

Elements of financial reporting, accounting objects: assets, equity, liabilities The objects of accounting are the elements of financial reporting, business transactions and processes. The elements of financial reporting are assets, liabilities and equity.

Assets- these are property and personal non-property rights and benefits that have a valuation and from which income is expected to be received in the future.

Commitments It is an obligation to perform certain actions for the benefit of another person. how to transfer the property. perform work, pay money, i.e. a liability is an entity's debt from past events, the settlement of which would result in an outflow of resources from the entity. For example: the purchase of finished products leads to the emergence of accounts payable.

Equity are assets after deduction of liabilities (this definition arises from the balance sheet equation).

A = SK+ obligations A = P SC = A- obligations

Grouping of assets (funds of the enterprise) Long-term assets: over one year) Intangible assets: fixed assets: investments Machinery software and hardware to subsidiaries. Building and construction patents jointly- Land licenses legal entities. Trademarks to affiliated organizations. Right of Use Current assets:(up to one year) Inventory: accounts receivable: cash Materials, debt buyers. cash in hand Work in progress. employee debt. money on current Goods purchased, debt of subsidiaries, bank accounts Finished products VAT recoverable Grouping of liabilities (IC and liabilities) Equity: Liabilities: Authorized capital Accounts payable, Reserve capital Settlements with personnel for wages Additional paid-in capital Settlements with the budget Additional unpaid capital Withdrawn capital Retained earnings (uncovered loss) 4. The concept of accounting method. Accounting method- a set of methods and techniques used in accounting. The elements of measurement include valuation and costing methods. Grade is a monetary conversion. Calculation is the calculation of the cost of production. Cost price- the total cost of production. Elements of observation: the method of documentation and the method of inventory Documentation- this is a written certificate confirming the fact of the operation or giving the right to perform the operation. Grouping elements: accounts, double entry. Accounts are a way of reflecting the availability and movement of funds and sources in a monetary value in a grouped form. A double entry is a way of reflecting business transactions on the debit of one account and on the credit of another account. Generalization elements: balance sheet and other forms of financial reporting

Questions for self-control:

1. What is the conceptual basis for financial reporting?

2. List the principles of accounting, give them a description.

3. List the qualitative characteristics of accounting information.

4. What are the elements of financial reporting?

5. What are the objects of accounting?

6. Describe assets, equity, liabilities.

7. List the methods of accounting.

accounting financial reporting

Literature

1 Law of the Republic of Kazakhstan “On Accounting and Financial Reporting” dated February 28, 2007 №234 -111

2 Radostovets V.V., Shmidt O.I., “Theoretical and sectoral features of accounting”, Almaty: Tsentraaudit - Kazakhstan, 2000

3 Needles B., H. Andersen, D. Caldwell "Principles of Accounting", Moscow "Finance and Statistics", 2002

Accounting financial accounting is an ordered system for collecting, registering and summarizing information in monetary terms about the property and obligations of an organization. Accounting provides continuous, continuous and documenting all business transactions.

The purpose of financial accounting is the formation of information for the preparation of financial statements. The main tasks of financial accounting:

Formation of complete and reliable information about the activities and property status of the organization;

Providing information to internal and external users;

Prevention of negative results of economic activity.

Users of financial accounting data are divided into internal and external users. Internal users include management personnel, owners of the organization. External users are investors, tax authorities, banks, insurance companies, government agencies, customers, audit firms and others. In contrast to management accounting, financial accounting is intended for the preparation of financial statements, focused mainly on external users: shareholders, authorities and management, creditors, investors. Financial accounting is mandatory for the organization and is determined by law. Financial accounting covers all business transactions with property, liabilities, capital of the organization. Methods of conducting financial accounting are regulated: double entry and a system of accounting accounts are used without fail. The content, timing and frequency of presentation of financial statements are determined by regulations: this is a month, quarter, year. Financial accounting data characterize the fait accompli and answer the question "how it was." The basis of financial accounting is monetary value and accuracy of calculations. The financial statements of most organizations are open to users, moreover, organizations must ensure their publicity.

The fundamental principles of financial accounting include the following: property isolation, continuity of the organization, the sequence of application of accounting policies, the temporal certainty of the facts of economic activity (accrual and compliance), double entry, materiality, valuation, prudence.

The principle of property isolation means that the property and obligations of the organization exist separately from the property and obligations of the owners of this organization and other organizations. The going concern of the organization provides that the organization will exist for the foreseeable future and does not plan to be liquidated. Consistency in the application of accounting policies implies that the accepted methods and methods of accounting will be applied consistently from year to year. The temporal certainty of the facts of economic activity provides for the reflection of income and expenses as they arise, regardless of payment. Double entry is based on the reflection of any business transaction in two interrelated accounts: in the debit of one and the credit of another account. Prudence (prudence or conservatism) is based on the choice of the lowest estimate for income and the highest one for expenses.

The head of the organization is responsible for maintaining financial accounting.

21. Content and procedure for presenting financial statementsReporting is a system of indicators characterizing an object. Distinguish between external and internal reporting. Internal reporting is used by the organization for management purposes. Forms, content, frequency of compiling reporting forms are established by the organization independently, depending on specific conditions. Internal reporting can be daily and annual, one-time and systematic. Reporting compiled within the framework of management accounting is internal reporting.

Statistical reporting includes information on quantitative and qualitative economic and social indicators within individual industries, activities, and the economy as a whole. Tax reporting contains indicators related to the payment of taxes. Reporting to extra-budgetary funds characterizes payments to extra-budgetary funds: to the pension fund, social insurance fund and others.

Financial statements contain indicators characterizing the property and financial position of the organization and the financial results of its activities for the reporting period. Compiled on the basis of financial accounting data. Mandatory preparation of annual and interim financial statements (monthly, quarterly, 6 and 9 months).

Deadline for submission of financial statements:

For interim reporting - 30 days after the end of the reporting period;

For annual reporting - 90 days after the end of the year.

Reporting date:

Date of mailing;

Date of actual transfer by ownership.

The organization is required to submit an annualaccounting reports:

In accordance with the constituent documents to the founders, participants of the organization or owners of its property;

Territorial statistical bodies at the place of registration of the organization;

Commissioner for the management of state and municipal property for unitary enterprises;

Other authorities in accordance with the legislation of the Russian Federation: tax authorities, banks, in some cases.

Financial statements includes the following forms:

- balance sheet(form 1): reflects the assets (property) and liabilities (liabilities and capital) of the organization as of the reporting date, as of March 31, June 10, September 30, December 31;

- Profits and Losses Report(form 2): shows the results of the organization's activities (income, expenses, financial result) on an accrual basis from the beginning of the year for the 1st quarter, for 6 and 9 months, for the year;

- statement of changes in equity(form 3): provides information on the balances and movement of the organization's own capital, its reserves;

Cash flow statement (form 4): reflects the balances, receipts and disposals of funds in the organization;

- appendix to the balance sheet(form 5): transcripts are provided for balance sheet items, for example, on intangible assets and fixed assets, financial investments, debtors and creditors, and others;

- explanatory note: additional information about the activities of the organization.

- audit report, if necessary.

Interim reporting includes two forms: balance sheet and report on profit and loss.