Accounting policies of PBU: application and general provisions. On approval of accounting regulations The concept of “immaterial information”

1. Approve:

a) Accounting Regulations “Accounting Policy of the Organization” (PBU 1/2008) in accordance with Appendix No. 1;

b) Accounting Regulations “Changes in Estimated Values” (PBU 21/2008) in accordance with Appendix No. 2.

2. Recognize as invalid Order of the Ministry of Finance of the Russian Federation dated December 9, 1998 N 60n “On approval of the Accounting Regulations “Accounting Policy of the Organization” PBU 1/98” (Order registered with the Ministry of Justice of the Russian Federation on December 31, 1998, registration number 1673; Bulletin of normative acts of federal executive authorities, No. 2, January 11, 1999; Rossiyskaya Gazeta, No. 10, January 20, 1999).

Deputy
Chairman of the Government
Russian Federation -
Minister of Finance
Russian Federation
A.L. KUDRIN

I. General provisions

Branches and representative offices of foreign organizations located on the territory of the Russian Federation may formulate accounting policies in accordance with these Regulations or based on the rules established in the country of location of the foreign organization, if the latter do not contradict International Financial Reporting Standards.

Accounting methods include methods of grouping and assessing facts of economic activity, repaying the value of assets, organizing document flow, inventory, using accounting accounts, organizing accounting registers, and processing information.

3. This Regulation applies to:

regarding the formation of accounting policies - for all organizations;

in terms of disclosure of accounting policies - to organizations that publish their financial statements in whole or in part in accordance with the legislation of the Russian Federation, constituent documents or on their own initiative.

II. Formation of accounting policies

In this case it is affirmed:

a working chart of accounts containing synthetic and analytical accounts necessary for maintaining accounting records in accordance with the requirements of timeliness and completeness of accounting and reporting;

forms of primary accounting documents, accounting registers, as well as documents for internal accounting reporting;

the procedure for conducting an inventory of the organization’s assets and liabilities;

methods for assessing assets and liabilities;

document flow rules and accounting information processing technology;

the procedure for monitoring business operations;

other solutions necessary for organizing accounting.

5. When developing accounting policies, it is assumed that:

the assets and liabilities of an organization exist separately from the assets and liabilities of the owners of this organization and the assets and liabilities of other organizations (assuming property separation);

the organization will continue its activities for the foreseeable future and it has no intention or need to liquidate or significantly reduce its activities and, therefore, obligations will be repaid in the prescribed manner (going concern assumption);

the accounting policy adopted by the organization is applied consistently from one reporting year to another (assumption of consistency in the application of accounting policies);

the facts of the organization’s economic activities relate to the reporting period in which they took place, regardless of the actual time of receipt or payment of funds associated with these facts (the assumption of temporary certainty of the facts of economic activity).

5.1. An organization chooses accounting methods regardless of the choice of accounting methods by other organizations. If the parent company approves its accounting standards, which are mandatory for use by its subsidiary, then such subsidiary chooses accounting methods based on these standards. (as amended by Order of the Ministry of Finance of the Russian Federation dated April 28, 2017 N 69n)

6. The organization’s accounting policies must ensure:

completeness of reflection in accounting of all facts of economic activity (completeness requirement);

timely reflection of the facts of economic activity in accounting and financial statements (timeliness requirement);

greater willingness to recognize expenses and liabilities in accounting than possible income and assets, avoiding the creation of hidden reserves (requirement of prudence);

reflection in accounting of facts of economic activity based not so much on their legal form, but on their economic content and business conditions (the requirement of priority of content over form);

the identity of analytical accounting data with turnovers and balances on synthetic accounting accounts on the last calendar day of each month (consistency requirement);

rational accounting, based on business conditions and the size of the organization, as well as based on the ratio of costs for generating information about a specific accounting object and the usefulness (value) of this information (the requirement of rationality). (as amended by Order of the Ministry of Finance of the Russian Federation dated April 28, 2017 N 69n)

6.1. When developing an accounting policy, micro-enterprises and non-profit organizations that have the right to use simplified accounting methods, including simplified accounting (financial) reporting, may provide for accounting using a simple system (without using double entry). (as amended by Orders of the Ministry of Finance of the Russian Federation dated December 18, 2012 N 164n, dated April 6, 2015 N 57n)

An organization that discloses consolidated financial statements drawn up in accordance with International Financial Reporting Standards or financial statements of an organization that does not create a group has the right to be guided by federal accounting standards, taking into account the requirements of International Financial Reporting Standards, when forming its accounting policies. In particular, such an organization has the right not to apply the accounting method established by the federal accounting standard when such a method leads to a discrepancy between the organization's accounting policies and the requirements of International Financial Reporting Standards. (as amended by Order of the Ministry of Finance of the Russian Federation dated April 28, 2017 N 69n)

7.1. If the federal accounting standards do not establish accounting methods for a specific accounting issue, the organization develops an appropriate method based on the requirements established by the legislation of the Russian Federation on accounting, federal and (or) industry standards. In this case, the organization, based on the assumptions and requirements given in paragraphs 5 and 6 of these Regulations, uses the following documents sequentially: (as amended by Order of the Ministry of Finance of the Russian Federation dated April 28, 2017 N 69n)

a) international financial reporting standards; (as amended by Order of the Ministry of Finance of the Russian Federation dated April 28, 2017 N 69n)

b) provisions of federal and (or) industry accounting standards on similar and (or) related issues; (as amended by Order of the Ministry of Finance of the Russian Federation dated April 28, 2017 N 69n)

c) recommendations in the field of accounting. (as amended by Order of the Ministry of Finance of the Russian Federation dated April 28, 2017 N 69n)

7.2. An organization that has the right to use simplified accounting methods, including simplified accounting (financial) statements, in the absence of appropriate accounting methods for a specific issue in federal accounting standards, has the right to formulate an accounting policy, guided solely by the requirement of rationality. (as amended by Order of the Ministry of Finance of the Russian Federation dated April 28, 2017 N 69n)

7.3. In exceptional cases, when the formation of an accounting policy in accordance with paragraphs 7 and 7.1 of these Regulations leads to an unreliable representation of the financial position of the organization, the financial results of its activities and the flow of its funds in the accounting (financial) statements, the organization has the right to deviate from the rules established by these paragraphs , subject to all of the following conditions: (as amended by Order of the Ministry of Finance of the Russian Federation dated April 28, 2017 N 69n)

a) circumstances have been identified that impede the formation of a reliable representation of its financial position, financial results of operations and cash flows in the accounting (financial) statements; (as amended by Order of the Ministry of Finance of the Russian Federation dated April 28, 2017 N 69n)

b) an alternative method of accounting is possible, the use of which makes it possible to eliminate these circumstances; (as amended by Order of the Ministry of Finance of the Russian Federation dated April 28, 2017 N 69n)

c) the alternative method of accounting does not lead to other circumstances in which the organization’s accounting (financial) statements will give an unreliable picture of its financial position, financial performance and cash flows; (as amended by Order of the Ministry of Finance of the Russian Federation dated April 28, 2017 N 69n)

d) information about deviations from the rules established by clauses 7 and 7.1 of these Regulations and the use of an alternative method of accounting is disclosed by the organization in accordance with these Regulations. (as amended by Order of the Ministry of Finance of the Russian Federation dated April 28, 2017 N 69n)

7.4. To the extent that the application of the accounting policies formed in accordance with clauses 7 and 7.1 of these Regulations leads to the formation of information, the presence, absence or method of reflection of which in the accounting (financial) statements of the organization does not depend on the economic decisions of the users of these statements (hereinafter referred to as - immaterial information), the organization has the right to choose the method of accounting, guided solely by the requirement of rationality (without applying clauses 7, 7.1 of these Regulations). The organization independently classifies information as non-essential based on both the size and nature of this information. (as amended by Order of the Ministry of Finance of the Russian Federation dated April 28, 2017 N 69n)

8. The accounting policy adopted by the organization is subject to registration with the relevant organizational and administrative documentation (orders, instructions, standards, etc.) of the organization. (as amended by Order of the Ministry of Finance of the Russian Federation dated April 28, 2017 N 69n)

9. Accounting methods chosen by the organization when developing accounting policies are applied from the first January of the year following the year of approval of the relevant organizational and administrative document. Moreover, they are applied by all branches, representative offices and other divisions of the organization (including those allocated to a separate balance sheet), regardless of their location.

A newly created organization, an organization resulting from a reorganization, draws up its chosen accounting policy in accordance with these Regulations no later than 90 days from the date of state registration of the legal entity. The accounting policy adopted by the newly created organization is considered to be applied from the date of state registration of the legal entity.

III. Change in accounting policy

10. Changes in the accounting policies of an organization can be made in the following cases:

changes in the legislation of the Russian Federation and (or) regulatory legal acts on accounting;

the organization's development of new accounting methods. The use of a new method of accounting involves improving the quality of information about the accounting object; (as amended by Order of the Ministry of Finance of the Russian Federation dated April 28, 2017 N 69n)

significant changes in business conditions. A significant change in the business conditions of an organization may be associated with reorganization, change in types of activities, etc.

It is not considered a change in accounting policy to approve the method of accounting for facts of economic activity that are essentially different from the facts that occurred previously, or that arose for the first time in the organization’s activities.

11. Changes in accounting policies must be justified and formalized in the manner prescribed by paragraph 8 of these Regulations.

12. Changes in accounting policies are made from the beginning of the reporting year, unless otherwise determined by the reason for such a change.

13. The consequences of changes in accounting policies that have had or may have a significant impact on the financial position of the organization, the financial results of its activities and (or) cash flows are assessed in monetary terms. The assessment in monetary terms of the consequences of changes in accounting policies is made on the basis of data verified by the organization as of the date from which the changed method of accounting is applied.

14. The consequences of changes in accounting policies caused by changes in the legislation of the Russian Federation and (or) regulatory legal acts on accounting are reflected in accounting and reporting in the manner established by the relevant legislation of the Russian Federation and (or) regulatory legal acts on accounting. If the relevant legislation of the Russian Federation and (or) a regulatory legal act on accounting do not establish a procedure for reflecting the consequences of changes in accounting policies, then these consequences are reflected in accounting and reporting in the manner established by paragraph 15 of these Regulations.

15. The consequences of changes in accounting policies caused by reasons other than those specified in paragraph 14 of these Regulations, and which had or could have a significant impact on the financial position of the organization, financial results of its activities and (or) cash flows, are reflected in the financial statements retrospectively, for except in cases where the assessment in monetary terms of such consequences in relation to periods preceding the reporting period cannot be made with sufficient reliability.

When retrospectively reflecting the consequences of changes in accounting policies, we proceed from the assumption that the changed method of accounting was applied from the moment the facts of economic activity of this type arose. Retrospective reflection of the consequences of changes in accounting policies consists of adjusting the opening balance under the item “Retained earnings (uncovered loss)” and (or) other balance sheet items as of the earliest date presented in the accounting (financial) statements, as well as the values of related accounting items disclosed for each period presented in the financial statements, as if the new accounting policy had been applied from the moment the facts of economic activity of this type arose. (as amended by Order of the Ministry of Finance of the Russian Federation dated April 28, 2017 N 69n)

In cases where an assessment in monetary terms of the consequences of a change in accounting policy in relation to periods preceding the reporting period cannot be made with sufficient reliability, the changed method of accounting is applied to the relevant facts of economic activity that occurred after the introduction of the changed method (prospectively).

15.1. Organizations that have the right to use simplified accounting methods, including simplified accounting (financial) reporting, may reflect in their financial statements the consequences of changes in accounting policies that have had or may have a significant impact on the financial position of the organization, the financial results of its activities and (or) cash flows. funds, prospectively, except for cases where a different procedure is established by the legislation of the Russian Federation and (or) a regulatory legal act on accounting. (as amended by Orders of the Ministry of Finance of the Russian Federation dated November 8, 2010 N 144n, dated April 27, 2012 N 55n, dated April 6, 2015 N 57n)

16. Changes in accounting policies that have had or are capable of having a significant impact on the financial position of the organization, the financial results of its activities and (or) cash flows are subject to separate disclosure in the financial statements.

IV. Disclosure of accounting policies

17. The organization must disclose the accounting methods adopted when forming the accounting policy, without knowledge of the application of which by interested users of the accounting (financial) statements it is impossible to reliably assess the financial position of the organization, the financial results of its activities and (or) cash flows. (as amended by Order of the Ministry of Finance of the Russian Federation dated April 28, 2017 N 69n)

18. Paragraph one - Deleted. (as amended by Order of the Ministry of Finance of the Russian Federation dated March 11, 2009 N 22n)

If financial statements are not published in full, information on accounting policies is subject to disclosure, at least in part directly related to the published data.

When forming an organization's accounting policy based on assumptions other than those provided for in paragraph 5 of these Regulations, such assumptions, along with the reasons for their application, must be disclosed in the financial statements.

20. If, in preparing the financial statements, there is significant uncertainty about events and conditions that may cast significant doubt on the applicability of the going concern assumption, the entity must identify the uncertainty and clearly describe what it relates to.

20.1. An organization that forms an accounting policy in accordance with paragraph two of clause 7 of these Regulations must, in relation to each method of accounting established by the federal accounting standard that it has not applied, describe such method, as well as disclose the corresponding requirement of the International Financial Reporting Standard and describe how Thus, this requirement will be violated if the accounting method established by the federal accounting standard is applied. (as amended by Order of the Ministry of Finance of the Russian Federation dated April 28, 2017 N 69n)

20.2. An organization that applied clause 7.3 of these Regulations when developing its accounting policy must disclose: (as amended by Order of the Ministry of Finance of the Russian Federation dated April 28, 2017 N 69n)

the name of the federal accounting standard establishing the accounting method from which the organization has deviated, with a brief description of this method; (as amended by Order of the Ministry of Finance of the Russian Federation dated April 28, 2017 N 69n)

circumstances as a result of which the application of the rules established by paragraphs 7 and 7.1 of these Regulations leads to the fact that the accounting (financial) statements of the organization do not allow obtaining a reliable picture of its financial position, financial performance and cash flows and the reasons for the occurrence of these circumstances; (as amended by Order of the Ministry of Finance of the Russian Federation dated April 28, 2017 N 69n)

the content of the alternative method of accounting used by the organization and an explanation of how this method eliminates the unreliability of the presentation of the financial position of the organization, the financial results of its activities and cash flows; (as amended by Order of the Ministry of Finance of the Russian Federation dated April 28, 2017 N 69n)

the values of all indicators of the organization’s accounting (financial) statements that were changed as a result of deviation from the rules established by paragraphs 7 and 7.1 of these Regulations, as if the deviation had not been made, and the amount of adjustment of each indicator. (as amended by Order of the Ministry of Finance of the Russian Federation dated April 28, 2017 N 69n)

21. In the event of a change in accounting policies, the organization must disclose the following information:

The reason for the change in accounting policy;

The procedure for reflecting the consequences of changes in accounting policies in the financial statements;

The amounts of adjustments associated with changes in accounting policies for each item in the financial statements for each of the reporting periods presented, and if the organization is required to disclose information about earnings per share, also according to data on basic and diluted earnings (loss) per share;

The amount of the corresponding adjustment relating to reporting periods prior to those presented in the financial statements, to the extent practicable.

If a change in accounting policy is due to the application of a regulatory legal act for the first time or a change in a regulatory legal act, the fact of reflecting the consequences of the change in accounting policy in accordance with the procedure provided for by this act is also subject to disclosure.

22. If the disclosure of information provided for in paragraph 21 of these Regulations for any particular previous reporting period presented in the financial statements, or for reporting periods earlier than those presented, is impossible, the fact of the impossibility of such disclosure is subject to disclosure together with an indication of the reporting period in which the corresponding change in accounting policy will begin to be applied.

23. If a regulatory legal act on accounting provides for the possibility of voluntary application of the rules approved by it before the deadline for their mandatory application, the organization, when using this opportunity, must disclose this fact in the accounting (financial) statements. (as amended by Order of the Ministry of Finance of the Russian Federation dated April 28, 2017 N 69n)

If interim financial statements are presented, they may not contain information about the organization’s accounting policies, unless there have been changes in the latter since the preparation of the annual accounting (financial) statements for the previous year, in which the accounting policies were disclosed. (as amended by Order of the Ministry of Finance of the Russian Federation dated October 25, 2010 N 132n)

2. For the purposes of these Regulations, a change in the estimated value is recognized as an adjustment to the value of an asset (liability) or a value reflecting the repayment of the value of an asset, due to the emergence of new information, which is made based on an assessment of the current state of affairs in the organization, expected future benefits and obligations and is not a correction of an error in financial statements.

A change in the way assets and liabilities are measured is not a change in accounting estimates.

If any change in accounting data cannot be clearly classified as a change in accounting policy or a change in an estimated value, then for the purposes of financial reporting it is recognized as a change in the estimated value.

the period in which the change occurred, if such a change affects the financial statements only for this reporting period;

the period in which the change occurred, and future periods, if such a change affects the financial statements of this reporting period and the financial statements of future periods.

5. A change in the estimated value that directly affects the amount of the organization’s capital is subject to recognition by adjusting the corresponding capital items in the financial statements for the period in which the change occurred.

6. In the explanatory note to the financial statements, the organization must disclose the following information about changes in the estimated value:

MINISTRY OF FINANCE OF THE RUSSIAN FEDERATION

ORDER

On approval of accounting regulations

Document with changes made:
(Bulletin of normative acts of federal executive authorities, No. 16, 04/20/2009);
(Rossiyskaya Gazeta, N 271, 12/01/2010) (came into force on January 1, 2011);
(Bulletin of regulatory acts of federal executive authorities, N 50, 12/13/2010) (came into force starting from the annual financial statements for 2010);
(Rossiyskaya Gazeta, N 147, 06/29/2012) (came into force starting from the annual financial statements for 2012);
(Rossiyskaya Gazeta, N 40, 02/25/2013);
(Official Internet portal of legal information www.pravo.gov.ru, 05/06/2015, N 0001201505060015);
(Official Internet portal of legal information www.pravo.gov.ru, 07.26.2017, N 0001201707260012).
____________________________________________________________________

In order to improve legal regulation in the field of accounting and financial reporting and in accordance with the Regulations on the Ministry of Finance of the Russian Federation, approved by Decree of the Government of the Russian Federation of June 30, 2004 N 329 (Collected Legislation of the Russian Federation, 2004, N 31, Art. 3258; N 49, art. 4908; 2005, N 23, art. 2270; N 52, art. 5755; 2006, N 32, art. 3569; N 47, art. 4900; 2007, N 23, art. 2801; N 45, Art. 5491; 2008, N 5, Art. 411),

I order:

1. Approve:

a) Accounting Regulations “Accounting Policy of the Organization” (PBU 1/2008) in accordance with Appendix No. 1;

b) Accounting Regulations “Changes in Estimated Values” (PBU 21/2008) in accordance with Appendix No. 2.

2. Recognize as invalid the order of the Ministry of Finance of the Russian Federation dated December 9, 1998 N 60n “On approval of the Accounting Regulations “Accounting Policy of the Organization” PBU 1/98” (registered with the Ministry of Justice of the Russian Federation on December 31, 1998, registration N 1673; Bulletin of normative acts of federal executive authorities, 1999, No. 2; Rossiyskaya Gazeta, No. 10, January 20, 1999).

Vice-chairman
Government of the Russian
Federation - Minister of Finance
Russian Federation
A.L.Kudrin

Registered
at the Ministry of Justice
Russian Federation
October 27, 2008,
registration N 12522

Appendix No. 1. Accounting Regulations "Accounting Policy of the Organization" (PBU 1/2008)

Appendix No. 1
to the order of the Ministry
finance of the Russian Federation
dated October 6, 2008 N 106n

I. General provisions

1. These Regulations establish the rules for the formation (selection or development) and disclosure of the accounting policies of organizations that are legal entities under the legislation of the Russian Federation (with the exception of credit institutions and public sector organizations) (hereinafter referred to as organizations).
(Paragraph as amended, put into effect on January 1, 2011 by order of the Ministry of Finance of Russia dated October 25, 2010 N 132n; as amended, put into effect on August 6, 2017 by order of the Ministry of Finance of Russia dated April 28, 2017 N 69n.

Branches and representative offices of foreign organizations located on the territory of the Russian Federation may formulate accounting policies in accordance with these Regulations or based on the rules established in the country of location of the foreign organization, if the latter do not contradict International Financial Reporting Standards.

2. For the purposes of these Regulations, the accounting policy of an organization is understood as the set of accounting methods adopted by it - primary observation, cost measurement, current grouping and final generalization of the facts of economic activity.

Accounting methods include methods of grouping and assessing facts of economic activity, repaying the value of assets, organizing document flow, inventory, using accounting accounts, organizing accounting registers, and processing information.

3. This Regulation applies to:

regarding the formation of accounting policies - for all organizations;

in terms of disclosure of accounting policies - to organizations that publish their financial statements in whole or in part in accordance with the legislation of the Russian Federation, constituent documents or on their own initiative.

II. Formation of accounting policies

4. The accounting policy of the organization is formed by the chief accountant or another person who, in accordance with the legislation of the Russian Federation, is entrusted with maintaining the accounting records of the organization, on the basis of these Regulations and is approved by the head of the organization.

In this case it is affirmed:

a working chart of accounts containing synthetic and analytical accounts necessary for maintaining accounting records in accordance with the requirements of timeliness and completeness of accounting and reporting;

forms of primary accounting documents, accounting registers, as well as documents for internal accounting reporting;

the procedure for conducting an inventory of the organization’s assets and liabilities;

methods for assessing assets and liabilities;

document flow rules and accounting information processing technology;

the procedure for monitoring business operations;

other solutions necessary for organizing accounting.

5. When developing accounting policies, it is assumed that:

the assets and liabilities of an organization exist separately from the assets and liabilities of the owners of this organization and the assets and liabilities of other organizations (assuming property separation);

the organization will continue its activities for the foreseeable future and it has no intention or need to liquidate or significantly reduce its activities and, therefore, obligations will be repaid in the prescribed manner (going concern assumption);

the accounting policy adopted by the organization is applied consistently from one reporting year to another (assumption of consistency in the application of accounting policies);

the facts of the organization’s economic activities relate to the reporting period in which they took place, regardless of the actual time of receipt or payment of funds associated with these facts (the assumption of temporary certainty of the facts of economic activity).

5.1. An organization chooses accounting methods regardless of the choice of accounting methods by other organizations. If the parent company approves its accounting standards, which are mandatory for use by its subsidiary, then such subsidiary chooses accounting methods based on these standards.
by order of the Ministry of Finance of Russia dated April 28, 2017 N 69n)

6. The organization’s accounting policies must ensure:

completeness of reflection in accounting of all facts of economic activity (completeness requirement);

timely reflection of the facts of economic activity in accounting and financial statements (timeliness requirement);

greater willingness to recognize expenses and liabilities in accounting than possible income and assets, avoiding the creation of hidden reserves (requirement of prudence);

reflection in accounting of facts of economic activity based not so much on their legal form, but on their economic content and business conditions (the requirement of priority of content over form);

the identity of analytical accounting data with turnovers and balances on synthetic accounting accounts on the last calendar day of each month (consistency requirement);

rational accounting based on business conditions and the size of the organization, as well as based on the ratio of costs for generating information about a specific accounting object and the usefulness (value) of this information (the requirement of rationality).
by order of the Ministry of Finance of Russia dated April 28, 2017 N 69n.

6.1. When developing an accounting policy, micro-enterprises and non-profit organizations that have the right to use simplified accounting methods, including simplified accounting (financial) reporting, may provide for accounting using a simple system (without using double entry).
(The clause was additionally included on March 8, 2013 by order of the Ministry of Finance of Russia dated December 18, 2012 N 164n by order of the Ministry of Finance of Russia dated April 6, 2015 N 57n.

7. Accounting for a specific accounting item is carried out in the manner established by the federal accounting standard. If, for a specific accounting issue, the federal accounting standard allows for several accounting methods, the organization selects one of these methods, guided by paragraphs 5, 5.1 and 6 of these Regulations.

An organization that discloses consolidated financial statements drawn up in accordance with International Financial Reporting Standards or financial statements of an organization that does not create a group has the right to be guided by federal accounting standards, taking into account the requirements of International Financial Reporting Standards, when forming its accounting policies. In particular, such an organization has the right not to apply the accounting method established by the federal accounting standard when such a method leads to a discrepancy between the organization's accounting policies and the requirements of International Financial Reporting Standards.
by order of the Ministry of Finance of Russia dated April 28, 2017 N 69n.

a) international financial reporting standards;

b) provisions of federal and (or) industry accounting standards on similar and (or) related issues;

c) recommendations in the field of accounting.
(Clause 7.1 was additionally included from August 6, 2017 by order of the Ministry of Finance of Russia dated April 28, 2017 N 69n)

7.2. An organization that has the right to use simplified accounting methods, including simplified accounting (financial) statements, in the absence of appropriate accounting methods for a specific issue in federal accounting standards, has the right to formulate an accounting policy, guided solely by the requirement of rationality.
(The paragraph was additionally included from August 6, 2017 by order of the Ministry of Finance of Russia dated April 28, 2017 N 69n)

b) an alternative method of accounting is possible, the use of which makes it possible to eliminate these circumstances;

d) information about deviations from the rules established by clauses 7 and 7.1 of these Regulations and the use of an alternative method of accounting is disclosed by the organization in accordance with these Regulations.
(Clause 7.3 was additionally included from August 6, 2017 by order of the Ministry of Finance of Russia dated April 28, 2017 N 69n)

7.4. To the extent that the application of the accounting policies formed in accordance with clauses 7 and 7.1 of these Regulations leads to the formation of information, the presence, absence or method of reflection of which in the accounting (financial) statements of the organization does not depend on the economic decisions of the users of these statements (hereinafter referred to as - immaterial information), the organization has the right to choose the method of accounting, guided solely by the requirement of rationality (without applying clauses 7, 7.1 of these Regulations). The organization independently classifies information as non-essential based on both the size and nature of this information.
(The paragraph was additionally included from August 6, 2017 by order of the Ministry of Finance of Russia dated April 28, 2017 N 69n)

8. The accounting policy adopted by the organization is subject to registration with the relevant organizational and administrative documentation (orders, instructions, standards, etc.) of the organization.
(Clause as amended, put into effect on August 6, 2017 by order of the Ministry of Finance of Russia dated April 28, 2017 N 69n.

III. Change in accounting policy

10. Changes in the accounting policies of an organization can be made in the following cases:

changes in the legislation of the Russian Federation and (or) regulatory legal acts on accounting;

the organization's development of new accounting methods. The use of a new method of accounting involves improving the quality of information about the object of accounting
(Paragraph as amended, put into effect on August 6, 2017 by order of the Ministry of Finance of Russia dated April 28, 2017 N 69n.

significant changes in business conditions. A significant change in the business conditions of an organization may be associated with reorganization, change in types of activities, etc.

It is not considered a change in accounting policy to approve the method of accounting for facts of economic activity that are essentially different from the facts that occurred previously, or that arose for the first time in the organization’s activities.

11. Changes in accounting policies must be justified and formalized in the manner prescribed by paragraph 8 of these Regulations.

12. Changes in accounting policies are made from the beginning of the reporting year, unless otherwise determined by the reason for such a change.

15. The consequences of changes in accounting policies caused by reasons other than those specified in paragraph 14 of these Regulations, which had or could have a significant impact on the financial position of the organization, financial results of its activities and (or) cash flows, are reflected in the financial statements retrospectively, with the exception of cases where the assessment in monetary terms of such consequences in relation to periods preceding the reporting period cannot be made with sufficient reliability.

When retrospectively reflecting the consequences of changes in accounting policies, we proceed from the assumption that the changed method of accounting was applied from the moment the facts of economic activity of this type arose. Retrospective reflection of the consequences of changes in accounting policies consists of adjusting the opening balance under the item “Retained earnings (uncovered loss)” and (or) other balance sheet items as of the earliest date presented in the accounting (financial) statements, as well as the values of related accounting items disclosed for each period presented in the financial statements, as if the new accounting policy had been applied from the moment the facts of economic activity of this type arose.
(Paragraph as amended, put into effect on August 6, 2017 by order of the Ministry of Finance of Russia dated April 28, 2017 N 69n.

In cases where an assessment in monetary terms of the consequences of a change in accounting policy in relation to periods preceding the reporting period cannot be made with sufficient reliability, the changed method of accounting is applied to the relevant facts of economic activity that occurred after the introduction of the changed method (prospectively).

15.1. Organizations that have the right to use simplified accounting methods, including simplified accounting (financial) reporting, may reflect in their financial statements the consequences of changes in accounting policies that have had or may have a significant impact on the financial position of the organization, the financial results of its activities and (or) cash flows. funds, prospectively, except for cases where a different procedure is established by the legislation of the Russian Federation and (or) a regulatory legal act on accounting.
(The paragraph was additionally included starting from the annual financial statements for 2010 by order of the Ministry of Finance of Russia dated November 8, 2010 N 144n; as amended, put into effect starting from the annual financial statements for 2012 by order of the Ministry of Finance of Russia dated April 27, 2012 N 55n; as amended , put into effect on May 17, 2015 by order of the Ministry of Finance of Russia dated April 6, 2015 N 57n.

IV. Disclosure of accounting policies

17. The organization must disclose the accounting methods adopted when forming the accounting policy, without knowledge of the application of which by interested users of the accounting (financial) statements it is impossible to reliably assess the financial position of the organization, the financial results of its activities and (or) cash flows.
(Clause as amended, put into effect on August 6, 2017 by order of the Ministry of Finance of Russia dated April 28, 2017 N 69n.

18. The paragraph was excluded by order of the Ministry of Finance of Russia dated March 11, 2009 N 22n..

The composition and content of information on the organization's accounting policies on specific accounting issues subject to mandatory disclosure in financial statements are established by the relevant federal accounting standards.
(Paragraph as amended, put into effect on August 6, 2017 by order of the Ministry of Finance of Russia dated April 28, 2017 N 69n.

If financial statements are not published in full, information on accounting policies is subject to disclosure, at least in part directly related to the published data.

19. If the accounting policy of an organization is formed on the basis of the assumptions provided for in paragraph 5 of these Regulations, then these assumptions may not be disclosed in the financial statements.

When forming an organization's accounting policy based on assumptions other than those provided for in paragraph 5 of these Regulations, such assumptions, along with the reasons for their application, must be disclosed in the financial statements.

20.1. An organization that forms an accounting policy in accordance with paragraph two of clause 7 of these Regulations must, in relation to each method of accounting established by the federal accounting standard that it has not applied, describe such method, as well as disclose the corresponding requirement of the International Financial Reporting Standard and describe how Thus, this requirement will be violated if the accounting method established by the federal accounting standard is applied.
(The paragraph was additionally included from August 6, 2017 by order of the Ministry of Finance of Russia dated April 28, 2017 N 69n)

20.2. An organization that applied clause 7.3 of these Regulations when developing its accounting policy must disclose:

the name of the federal accounting standard establishing the accounting method from which the organization has deviated, with a brief description of this method;

circumstances as a result of which the application of the rules established by paragraphs 7 and 7.1 of these Regulations leads to the fact that the accounting (financial) statements of the organization do not allow obtaining a reliable picture of its financial position, financial performance and cash flows and the reasons for the occurrence of these circumstances;

the content of the alternative method of accounting used by the organization and an explanation of how this method eliminates the unreliability of the presentation of the financial position of the organization, the financial results of its activities and cash flows;

the values of all indicators of the organization’s accounting (financial) statements that were changed as a result of deviation from the rules established by paragraphs 7 and 7.1 of these Regulations, as if the deviation had not been made, and the amount of adjustment of each indicator.
(The paragraph was additionally included from August 6, 2017 by order of the Ministry of Finance of Russia dated April 28, 2017 N 69n)

21. In the event of a change in accounting policies, the organization must disclose the following information:

- the reason for the change in accounting policy;

- content of changes in accounting policies;

- the procedure for reflecting the consequences of changes in accounting policies in the financial statements;

- the amount of adjustments associated with changes in accounting policies for each item in the financial statements for each of the reporting periods presented, and if the organization is required to disclose information about earnings per share - also according to data on basic and diluted earnings (loss) per share ;

- the amount of the corresponding adjustment relating to the reporting periods preceding those presented in the financial statements - to the extent practicable.

If a change in accounting policy is due to the application of a regulatory legal act for the first time or a change in a regulatory legal act, the fact of reflecting the consequences of the change in accounting policy in accordance with the procedure provided for by this act is also subject to disclosure.

23. If a regulatory legal act on accounting provides for the possibility of voluntary application of the rules approved by it before the deadline for their mandatory application, the organization, when using this opportunity, must disclose this fact in the accounting (financial) statements.
(Clause as amended, put into effect on August 6, 2017 by order of the Ministry of Finance of Russia dated April 28, 2017 N 69n.

24. Significant methods of accounting, as well as information about changes in accounting policies are subject to disclosure in the accounting (financial) statements of the organization.
(Paragraph as amended, put into effect on August 6, 2017 by order of the Ministry of Finance of Russia dated April 28, 2017 N 69n.

If interim financial statements are presented, they may not contain information about the organization's accounting policies if there have been no changes in the latter since the preparation of the annual financial statements for the previous year, in which the accounting policies were disclosed.

25. The clause has lost force since August 6, 2017 - order of the Ministry of Finance of Russia dated April 28, 2017 N 69n..

Appendix No. 2. Accounting Regulations “Changes in Estimated Values” (PBU 21/2008)

Appendix No. 2
to the order of the Ministry
finance of the Russian Federation
dated October 6, 2008 N 106n

1. These Regulations establish the rules for recognition and disclosure in the financial statements of organizations that are legal entities under the legislation of the Russian Federation (with the exception of credit organizations and state (municipal) institutions) (hereinafter referred to as organizations), information on changes in estimated values (clause as amended into effect on January 1, 2011 by order of the Ministry of Finance of Russia dated October 25, 2010 N 132n.

3. The estimated value is the amount of the reserve for doubtful debts, the reserve for reducing the value of inventories, other estimated reserves, the useful lives of fixed assets, intangible assets and other depreciable assets, an assessment of the expected receipt of future economic benefits from the use of depreciable assets, etc.

A change in the way assets and liabilities are measured is not a change in accounting estimates.

If any change in accounting data cannot be clearly classified as a change in accounting policy or a change in an estimated value, then for the purposes of financial reporting it is recognized as a change in the estimated value.

4. A change in the estimated value, with the exception of the change specified in paragraph 5 of these Regulations, is subject to recognition in accounting by inclusion in the income or expenses of the organization (prospectively):

the period in which the change occurred, if such a change affects the financial statements only for this reporting period;

the period in which the change occurred, and future periods, if such a change affects the financial statements of this reporting period and the financial statements of future periods.

6. In the explanatory note to the financial statements, the organization must disclose the following information about changes in the estimated value:

- the content of the change that affected the financial statements for a given reporting period;

- the content of the change that will affect the financial statements for future periods, unless it is impossible to assess the impact of the change on the financial statements for future periods. The fact that such an assessment is impossible is also subject to disclosure.

Revision of the document taking into account
changes and additions prepared
JSC "Kodeks"

"Russian Tax Courier", 2009, N 3

The Russian Ministry of Finance approved the Accounting Regulations - PBU 1/2008 “Accounting Policy of the Organization”. This accounting standard should be applied from January 1, 2009. How does the new Regulation on the organization’s accounting policy differ from the previous PBU 1/98? How are the consequences arising from changes in accounting policies reflected in accounting?

The new PBU 1/2008 “Accounting policy of the organization” was approved by Order of the Ministry of Finance of Russia dated October 6, 2008 N 106n. At the same time, the same Order approved PBU 21/2008 “Changes in estimated values”<1>. With the advent of these new accounting standards, the classification of changes that accountants have to face when maintaining accounting records and preparing financial statements has become clearly visible:

changes in accounting policies;
changes related to the correction of errors found in accounting;
changes in estimated values.

<1>How to apply PBU 21/2008 will be discussed in the upcoming issues of the magazine. - Note. ed.

The procedure for making changes to the accounting policies and reflecting the consequences of such changes in accounting and reporting until the end of 2008 is regulated by the norms of PBU 1/98 "Accounting policies of the organization"<2>, and from next year - by the rules of the new PBU 1/2008 of the same name. Let's see what has changed in the order of formation of the organization's accounting policy compared to the previous rules.

<2>PBU 1/98 “Accounting policy of the organization” was approved by Order of the Ministry of Finance of Russia dated December 9, 1998 N 60n.

Formation of accounting policies

PBU 1/2008 was developed on the basis of PBU 1/98 and IAS 8. The new standard introduced a number of clarifications, but the basic principles that an accountant should follow when working with accounting policies remained unchanged.

Note. The norms of PBU 1/2008 are applied only when forming and changing the accounting policies of an organization. If an organization corrects previously made errors or changes estimated values, this PBU does not need to be used.

Who draws up the accounting policy

As previously in PBU 1/98, clause 4 of PBU 1/2008 states that the accounting policy of the organization is formed by the chief accountant. But now it is clarified that the accounting policy can also be drawn up by another person who, in accordance with the law, is entrusted with maintaining the organization’s accounting records.

According to paragraph 2 of Art. 6 of the Federal Law of November 21, 1996 N 129-FZ “On Accounting” (hereinafter referred to as Law N 129-FZ), heads of organizations have the right, depending on the volume of accounting work, to establish an accounting service as a structural unit headed by a chief accountant, or to introduce a position on staff accountant, or transfer on a contractual basis the maintenance of accounting to a centralized accounting department, a specialized organization or a specialist accountant. In addition, the head of the organization can maintain accounting records personally. Consequently, the accounting policy is formed by the one who conducts accounting in the organization: either an accountant (chief accountant), or a specialized organization with which an agreement has been concluded for accounting, or the head of the organization himself.

Note. The accounting policy, as before, must be approved directly by the head of the organization as the person responsible for the organization and state of accounting (clauses 1 and 3 of Article 6 of Law No. 129-FZ).

Primary accounting documents

The composition of the accounting policy is given in paragraph 4 of PBU 1/2008. It has not changed compared to the similar list in PBU 1/98, with the exception of one point. Clause 5 of PBU 1/98 stated that, as an element of the accounting policy, forms of primary accounting documents are approved, used to document facts of economic activity, for which standard forms of primary accounting documents are not provided. This means that the organization had to approve only those forms of primary accounting documents that it developed independently. But one’s own forms of “primary” could not always be used. This was allowed only if among the unified forms of primary accounting documents approved by the State Statistics Committee in the late 90s, there is no document intended for registration of this business transaction.

Clause 4 of PBU 1/2008 only says that the organization must approve the forms of primary accounting documents. There are no longer any restrictions regarding the mandatory use of standard “primary” forms. This norm of PBU 1/2008 is clearly written for the future. The new accounting law, which is expected to be adopted in the near future, will also not contain a rule that an organization is obliged to use unified forms of primary accounting documents. But the current Accounting Law still has such a requirement (clause 2 of Article 9 of Law No. 129-FZ).

Note. The provisions of paragraph 4 of PBU 1/2008 must be applied taking into account the current accounting legislation. In our opinion, until the adoption of a new law on accounting, organizations should continue to use standard forms of primary accounting documents. And when developing accounting policies, it is still possible to approve the forms only of those primary documents for which there are no unified forms.

Development of accounting methods

If for a particular business transaction the current regulations do not establish a specific method of accounting, then the organization independently develops it. In this case, it is necessary to proceed from the norms of current accounting standards. This was written down in clause 8 of PBU 1/98, and now this norm is set out in clause 7 of PBU 1/2008. The new accounting standard provides an explanation of this rule. Clause 7 of PBU 1/2008 states that “other accounting provisions are applied to develop an appropriate method in terms of similar or related facts of economic activity, definitions, recognition conditions and procedures for assessing assets, liabilities, income and expenses.”

In addition, in paragraph 7 of PBU 1/2008, an important instruction appeared: when developing a method of accounting for a particular business transaction, you can use not only the norms of existing PBUs, but also the rules of IFRS.

Note. Since 2009, the provisions of IFRS have become a guideline for Russian organizations when independently developing accounting methods.

Reorganized companies

For organizations that arose as a result of reorganization, paragraph 9 of PBU 1/2008 establishes the same procedure for drawing up accounting policies as for newly created organizations. The companies that emerged during the reorganization formulate an accounting policy no later than 90 days from the date of state registration of the new legal entity. And it must be applied when accounting for all business transactions carried out from the date of state registration. The new accounting standard does not indicate what forms of reorganization this rule applies to. But, based on the essence of the reorganization of legal entities, it is not difficult to understand that this rule applies to all forms, except for reorganization in the form of merger. In the latter case, a new organization does not arise, therefore the reorganized company, which was joined by another legal entity, will continue to apply the previous accounting policies. However, if necessary, changes and additions are made to it.

Change in accounting policy

An organization can change its accounting policies in the same cases as before. Their list is given in clause 10 of PBU 1/2008. These cases include a significant change in business conditions. Previously, paragraph 16 of PBU 1/98 explained that this may be due to reorganization, change of owners, change in type of activity, etc. PBU 1/2008 does not mention a change of owners. And this is quite understandable. The emergence of a new owner does not lead to a change in the organization, and this factor in itself cannot be the reason for changes in accounting policies.

Changes in accounting policies, as before, are made from the beginning of the next reporting year. In paragraph 18 of PBU 1/98 this rule was strict. And in paragraph 12 of PBU 1/2008, a reservation appeared that the accounting policy may change during the reporting year, if this is due to the reason for such a change.

Most often, the need to change accounting policies not from the beginning, but in the middle of the reporting year arises due to a significant change in business conditions. For example, the reorganization of the company in the form of merger occurred in the middle of the year. Then the acquiring organization can make changes to the accounting policies immediately after the completion of the reorganization, and not from the beginning of the next year.

The basic requirements remain unchanged. The organization must evaluate in monetary terms the consequences that resulted from the change in accounting policies. This estimate is determined as of the date from which the changed accounting policy is applied (clause 13 of PBU 1/2008). If changes to the accounting policy are made due to changed legislative norms or accounting regulations, then the consequences of these changes must be reflected in accounting and reporting in the manner established by the relevant law or regulation (clause 14 of PBU 1/2008).

Note. A change in accounting policy has certain consequences for the organization. The accountant's task is to correctly reflect these consequences in accounting and reporting. In this case, you need to focus on the rules written down earlier in paragraphs 19 - 23 of PBU 1/98, and now provided for in paragraphs 13 - 16 of PBU 1/2008.

What to do if the law or regulation does not indicate how to reflect the consequences of innovations? In this case, the organization will independently reflect in its accounting and reporting the consequences of changes in accounting policies. At the same time, previously it was necessary to be guided by the norms of clause 21 of PBU 1/98, and since 2009 - clause 15 of PBU 1/2008. This paragraph of the new standard essentially sets out the same rules as in PBU 1/98. But the procedure for independently reflecting the consequences of changes in accounting policies is set out in more detail.

Thus, paragraph 15 of PBU 1/2008 introduces new concepts: retrospective and prospective reflection of the consequences of changes in accounting policies. The definition of the retrospective method is disclosed in paragraph. 2 of this point. When retrospectively reflecting the consequences of a change in accounting policy, one should proceed “from the assumption that the changed method of accounting was applied from the moment the facts of economic activity of this type arose.” This means that the accountant needs to adjust the values of those accounting and reporting indicators that relate to previous reporting periods. Clause 15 of PBU 1/2008 explains how to make this adjustment.

Note. Differences arising from such an adjustment are attributed to a decrease or increase in the indicator “Retained earnings (uncovered loss)” for the previous reporting period.

When reflecting retrospectively the consequences of a change in accounting policy, the “opening” balance under the article “Retained earnings (uncovered loss)” for the earliest period presented in the financial statements is adjusted. In recommended balance sheet form<3>this is the indicator in column 3 “At the beginning of the reporting period” on line 470 of section. III "Capital and reserves". In addition, you need to fill out section. I Form No. 3 “Report on Changes in Capital”. It indicates indicators that reflect the change in the amount of retained earnings (uncovered loss) for the previous and reporting years caused by changes in accounting policies. In addition to adjusting the “Retained earnings (uncovered loss)” indicator, the values of related financial statements items are also recalculated for each reporting period presented in the reporting forms. These indicators are adjusted as if the changed accounting policy had been applied from the beginning of the relevant facts of economic activity.

Note. When retrospectively reflecting the consequences of a change in accounting policy, the financial statements for the previous reporting year, which reflect the assessment of assets and liabilities affected by the changed accounting policy, are subject to adjustment.

Previously, paragraph 21 of PBU 1/98 noted that these adjustments are reflected only in the financial statements. And no accounting entries are made. There is no such rule in the new PBU 1/2008. The fact is that in practice, all organizations have long switched to a computer method of accounting and they inevitably have to make certain entries in a computer program so that the necessary adjustments to the indicators for the previous reporting year are reflected in the electronic forms of financial statements.

Example 1. In October 2007, Alfa OJSC purchased long-term bonds denominated in foreign currency. The value of these bonds was 24,000 euros. The securities were accepted for accounting as part of long-term financial investments at the official exchange rate of the Bank of Russia on the date of their acquisition - 35 rubles/euro.

The following entries were made in the accounting records of Alfa OJSC:

Debit 58 Credit 76

840,000 rub. (24,000 euros x 35 rubles/euro) - reflects the cost of long-term bonds.

In 2007, in accordance with the requirements of clause 7 of PBU 3/2006, long-term securities were not subject to revaluation. Therefore, at the end of the year, Alfa OJSC did not overestimate the value of the purchased bonds. In the annual balance sheet for 2007, line 140 “Long-term financial investments” reflected the value of bonds in ruble valuation, which was determined at the time of their acquisition - 840,000 rubles. The amount of retained earnings reflected on line 470 of the annual balance sheet amounted to RUB 5,400,000.

Since 2008, the new edition of PBU 3/2006 has come into force. According to the changes made to this accounting standard by Order of the Ministry of Finance of Russia dated December 25, 2007 N 147n, since 2008, long-term securities have been revalued in accordance with the generally established procedure. Clause 3 of this Order instructs all organizations as of January 1, 2008 to recalculate the value of long-term securities (except for shares) expressed in foreign currency. The aforementioned amendments to PBU 3/2006 led to a change in the accounting policy of OJSC Alfa. Fulfilling the requirements of Order No. 147n, the accountant calculated the ruble valuation of the bonds at the exchange rate as of January 1, 2008 (36 rubles/euro). The total cost of securities after recalculation amounted to RUB 864,000. (24,000 euros x 36 rubles/euro). The difference in the ruble valuation of bonds at the date of their acquisition and at the beginning of 2008 is 24,000 rubles. (RUB 864,000 - RUB 840,000).

The difference in the valuation of bonds was reflected in the organization's financial statements for 2008 in a retrospective manner. The accountant of OJSC "Alfa" changed the indicators of the "input" balance sheet for the first quarter (and subsequent reporting periods). The balance sheet indicators for 2008 in column 3 “At the beginning of the reporting year” on lines 140 and 470 were increased by the amount of the difference that arose - 24,000 rubles. (see Table 1).

Table 1. Fragment of the balance sheet of OJSC "Alfa" for the reporting periods of 2008

(thousand roubles.)

In the explanatory note to the balance sheet for 2007, Alfa OJSC disclosed the reason for the change in the “entry” balance sheet for 2008 and indicated which items of the financial statements were adjusted and by what amount the balance sheet indicators changed. When preparing annual reports for 2008, OJSC "Alfa" in Form No. 3 "Report on Changes in Capital" reflected the results of changes in capital at the beginning of the reporting year. In table 2 shows the data that appeared in column 6 of section. I of this report.

Table 2. Fragment of the report on changes in capital (form No. 3) of Alfa OJSC for 2008

(thousand roubles.)

As before, PBU 1/2008 emphasizes that it is not always necessary to reflect the consequences of changes in accounting policies in a retrospective manner. Such adjustments are made if two conditions are met:

if the consequences of changes in accounting policies have had or are likely to have a significant impact on the financial position of the organization, financial results of its activities and (or) cash flows;
if the assessment of such consequences in monetary terms for previous reporting periods can be made with sufficient reliability.

When any of these conditions are not met, the organization does not apply the retrospective method of reflecting the consequences of changes in accounting policies (that is, it does not restate the financial statements for previous reporting periods). In this case, it applies a forward-looking method to reflect the consequences of a change in accounting policies. The last paragraph of paragraph 15 of PBU 1/2008 states the following: “In cases where the assessment in monetary terms of the consequences of a change in accounting policy in relation to periods preceding the reporting period cannot be made with sufficient reliability, the changed method of accounting is applied to the relevant facts economic activities that occurred after the introduction of the changed method (prospective)."

In other words, if a change in accounting policy did not significantly affect the financial position of the organization and (or) the consequences of such changes cannot be recalculated with a sufficient degree of reliability, the organization does not adjust the indicators for previous reporting periods in its financial statements (retrospective method). She needs to apply the changed method of accounting prospectively, that is, only to those facts of economic activity that will appear after changes have been made to the accounting policy.

Example 2. Until 2008, CJSC Gamma used the LIFO method when valuing retiring inventories. Since 2008, he had to change his accounting policy in connection with the changes that appeared in PBU 5/01 (the LIFO method was cancelled). Since 2008, the organization has written down in its accounting policy another method of assessing inventories when they are released into production - the weighted average method. Having changed the accounting policy, CJSC Gamma decided not to recalculate the balances of accounts 10 “Materials”, 20 “Main production” and 43 “Finished products” and not to adjust the “entry” balance of the balance sheet for 2008 for the corresponding items. The reason is the long duration of the organization’s production activities, significant turnover of materials and raw materials used in production. This leads to the impossibility of giving a reliable assessment of the balances of materials and raw materials, work in progress and finished goods in the warehouse at the beginning of 2008 based on the new method of assessing inventories.

In the explanatory note to the annual balance sheet for 2007, the organization indicated that starting next year it will change the method of assessing inventories. In addition, explanations were given as to why the organization does not apply the retrospective method of reflecting the consequences of changes in accounting policies. Thus, ZAO Gamma began to apply a new method for assessing inventories in a prospective manner, that is, when they are written off into production starting in January 2008.

Disclosure of accounting policies

Compared to PBU 1/98, PBU 1/2008 has expanded the list of information that is reflected in the explanatory note included in the financial statements if the organization has made changes to its accounting policies. This list is given in clause 21 of PBU 1/2008. Thus, when changing its accounting policy, an organization must disclose the following information in its financial statements:

the reason for the change;
content of the change;
the procedure for reflecting the consequences of changes in accounting policies in the financial statements;
the amount of adjustments associated with changes in accounting policies for each item in the financial statements for each of the reporting periods presented, and if the organization is required to disclose information on earnings per share, also according to data on basic and diluted earnings (loss) per share;
the amount of the corresponding adjustment relating to reporting periods prior to those presented in the financial statements, to the extent practicable.

Note. If a change in accounting policy occurred due to the application of a new regulatory legal act or as a result of amendments to a regulatory legal act, then in the explanatory note to the financial statements it is necessary to disclose the fact that the organization reflected the consequences of the change in accounting policy in accordance with the rules that are now provided for in this regulatory act.

M.S.Polyakova

Journal expert

"Russian tax courier"

Similar problems have been solved in a number of countries. For example, in the UK and USA: the term “expenses” means costs used in calculating profit or calculating inventory balances. The term "expenditures" means expenses not associated with the costing process. There is also the term “cost”, which has a wider application and means, according to the Oxford Dictionary of Accounting, “expenses on goods and services necessary to carry out the process of functioning of the organization” (R. Hussey. Oxford Dictionary of Accounting, 1999).

Analysis of the above terms shows that in financial accounting, the accrual principle is used to determine costs, that is, costs are charged to cost at the time of their occurrence, regardless of the fact of payment. In tax accounting, we apply both the accrual principle (Article 271, Chapter 25 of the Tax Code of the Russian Federation) and the cash principle (Article 273, Chapter 25 of the Tax Code of the Russian Federation). In management accounting, the basis for preparing information for various purposes can be based on both the accrual principle and the cash principle. In addition, for the convenience of decision making, conditional (alternative) costs are used.

Unlike expenses, expenses do not affect profit when they are recognized. If the implementation of costs were related to the profit indicator, one of the most important accounting processes - calculating the cost of production - would become meaningless. The product of calculation is the cost, which is formed in production, but is recognized as an expense at the time of sale of the product. Only at the time of sale can income, expenses and profit from its sale be reflected. During the production process, these indicators cannot be recognized due to the fact that they characterize the circulation process and do not yet “exist” before the sale of the product. Production accounting is precisely based on the need to calculate the cost without the influence of any profits and losses, i.e., as stated in all accounting standards, “based on the amount of actual costs.” To distinguish between the terms “costs” and “expenses,” it is important to understand that incurring expenses does not reduce the organization’s capital.

Thus, in the context of the problem under consideration, the implementation of expenses is a decrease in some assets with the condition of an equal increase in other assets, or an increase in assets and liabilities by the same amount. This “flow” of value is reflected in the costing accounts. In other words, costs are an accounting-accepted valuation of various types of resources used - material, financial, labor and others - the cost of which can be measured with a sufficient degree of reliability.

The costs are incurred over a certain period. The end of the period of accumulation of costs is determined by the moment when the conditions for recognizing the assets for the sake of which these costs were incurred are met, or when it becomes obvious that the costs incurred reduce the economic benefits of the organization without creating any property. Thus, at the end of the accumulation period, costs lead to the formation of either assets or expenses.

Costs can lead to the formation of two types of assets - current and non-current (Current assets are assets that bring economic benefits to their owner during one production cycle (turnover), and therefore in accounting practice their value is recognized as a one-time cost. Non-current assets are assets that bringing economic benefits to their owner during a period the duration of which is more than one production cycle (turnover), and therefore, in accounting practice, their value is recognized as expenses many times, as depreciation is calculated.). Costs incurred for the purpose of creation and attributed to the formation of the value of current assets are called non-capitalized (non-capital). Costs incurred for the purpose of creation and forming the value of non-current assets are called capitalized (capital).

Examples of expenses incurred to create current assets:
consumption of labor resources (Dt20 Kt70), material resources (Dt20 Kt10), use of fixed assets (Dt20 Kt02) and intangible assets (Dt20 Kt05) for the purpose of production. In this case, the creation of a current asset is reflected with the simultaneous write-off of the entire amount of accumulated costs (Dt43 Kt20).

Examples of expenses incurred to create non-current assets:
consumption of labor resources (Dt08 Kt70), material resources (Dt08 Kt10), use of fixed assets (Dt08 Kt02) and intangible assets (Dt08 Kt05) during the construction of real estate. In this case, the creation of a non-current asset is reflected with the simultaneous write-off of the entire amount of accumulated costs (Dt01 Kt08).

Both capitalized and non-capitalized costs can result in expenses. Moreover, in the first case, this, as a rule, means a negative, undesirable outcome, and in the second case, such an outcome may be normal and expected.

Examples of recognizing capitalized costs as expenses:

Expenses for research, development and technological work that did not produce a positive result are recognized as non-operating expenses (Dt91 Kt08);

Investments in the creation of non-current assets are recognized as expenses upon any disposal of unfinished objects - sale, transfer to the authorized capital, transfer of unfinished construction, unfinished R&D, etc. free of charge. (Dt91 Kt08).

Examples of recognizing non-capitalized costs as expenses:

The cost of work performed, services provided is recognized as an expense at the time of signing the act or upon completion of a certain calendar period (Dt90 Kt20, 23);

Costs incurred in connection with the rental of fixed assets are recognized as expenses upon completion of the calendar period (Dt90 Kt20);

-· costs of production that did not produce results are recognized as expenses in the event of a decision to terminate production (Dt91 Kt20, 23).

Typically, to create an asset or perform a work, service, resources of many different types must be expended. It is the large number of operations involving the use of certain resources and the long period of their implementation that force the accountant to calculate (if only one resource was spent on creating a product and only once, then there would be nothing to calculate). Here, by calculation we mean the allocation and accumulation of costs incurred to create a product on certain cost calculation accounts: 08 - for capitalized costs, 20, 23, 25, 26, 29 - for non-capitalized ones. The names of the accounts, in our opinion, are not correct; it would be more accurate to call accounts 25 “General production costs” and 26 “General business costs”, since general production costs cannot become expenses on their own - only as part of the cost of finished products, and general business costs become expenses only when using the direct costing method.

Thus, we will build a general accounting scheme for costs and expenses:

1. Reflection of costs:

Dt08 Kt10, 70, 60, 02, etc. - expenditure of various types of resources in order to create non-current assets and accumulate capitalized costs;

Dt20, 23, etc. Kt10, 70, 60, etc. - expenditure of various kinds of resources in order to create current assets, perform work, provide services and accumulate non-capitalized costs;

Dt20, 23, etc. Kt25, 26 - redistribution of accumulated general production and general economic costs among various current assets, works and services.

2. Asset recognition:

Dt01, 04, etc. Kt08 - acceptance of non-current assets for accounting after the expiration of the period of accumulation of capitalized costs;

Dt43 Kt20, 23 - acceptance of current assets for accounting after the expiration of the period of accumulation of non-capitalized costs.

3. Recognition of expenses:

Dt90, 91 Kt43, 01, etc. - recognition of expenses in the event of disposal of current or non-current assets;

Dt90 Kt20, 23 - recognition of expenses in case of write-off of the accumulated cost of work and services;

Dt91 Kt08 - write-off of capitalized costs that did not lead to the recognition of an object of non-current assets;

Dt91 Kt20, 23 - write-off of non-capitalized costs that did not lead to the recognition of current assets.

The following accounting entries allow us to summarize the above:

Costs are the sum of the costs of the resources used. Recognition of costs means the “flow” of one type of asset into another or an equal increase in assets and liabilities (in the case of consumption of work and services), which does not reduce the organization’s capital and therefore does not lead to the recognition of expenses. The end of the accrual period means that an asset or expense must be recognized. Expenses are expenses that did not lead to the formation of a current or non-current asset (Dt90 Kt20, Dt91 Kt08, 20). Also recognized as an expense is the write-off of a current asset not related to its production consumption (expense - Dt90 Kt43, 41, Dt91 Kt10; non-expense - Dt20, 23, etc. Kt10), or the write-off of a non-current asset for any reason (Dt91 Kt01, 04, etc. .).

As we can see, recognition of expenses is always carried out on accounts 90 or 91 - accounts on which income “meets” expenses and generates profit. Therefore, it should be emphasized that expenses are only Dt90 or Dt91; talking about reflecting expenses on expense accounts (08, 97, 15, 20, etc.) is not correct, since these accounts are not related to the formation of the financial result, they are located at the beginning of the chain, which then leads to financial results. However, it would not be correct to define expenses as amounts reflected in the debit of accounts 90 or 91, since the essence of the definition should be the opposite - only those amounts that “have the right” to influence the amount of profit can be reflected in the debit of these accounts, i.e. .e. which are recognized as expenses because they reduce the organization’s capital.

1.2 General characteristics of methods for calculating product costs

In Russian and foreign economic practice, various calculation methods are used. There are two main models for calculating product costs:

1) model of complete cost distribution (absortion costing);

2) model of partial cost distribution (direct costing).

The full cost allocation model is intended for production accounting purposes, while the partial cost allocation model is intended primarily for enterprise management accounting purposes.

Based on the model of complete cost distribution, the cost of a product, order, operation or other costing objects is calculated. Accordingly, the cost of a calculation object is the sum of differential costs for the calculation object and distributed total costs - overhead, indirect costs.

Within the framework of the full cost distribution model, it is advisable to classify calculation methods depending on the following characteristics:

calculation object;

calculation method.

Depending on the object of calculation, the following main methods can be distinguished:

by product;

custom;

operational;

transverse;

process-by-process.

Depending on the calculation method, the following calculation methods can be distinguished:

direct account (unit costs);

normative (equivalent);

calculation and analytical;

parametric;

cost exclusions;

coefficient;

combined (Fig. 1.1.).

Rice. 1.1. Methods and models for calculating product costs

The calculation method or combination of calculation methods is determined depending on the selected object-by-object calculation method.

The general cost calculation scheme should involve defining the goals and objectives of calculation and, on their basis, selecting the appropriate model. It should be noted that in a market economy, it seems advisable to use both calculation models at an enterprise, since, while meeting various local goals and objectives facing the enterprise, they are generally aimed at solving the global goal of the enterprise - making a profit.
One of the main methods of costing is the preparation of cost estimates for products. The object of accounting and calculation is a unit of production. With this calculation method, it is possible to use all methods of preparing calculations. The use of one method or another depends on the type of product being manufactured, the characteristics of the technological process and the raw materials being processed.

The direct counting method involves determining the cost of a unit of production by dividing the total cost by the number of products produced. This method is used mainly in enterprises producing homogeneous products. In Western practice, this method is called “average cost calculation” (Fig. 1.2).

Rice. 1.2. Distribution of direct and indirect costs

The scope of application of this method is limited, since the number of enterprises producing one type of product is very small. More often in practice, its modification is used - a calculation and analytical method of calculation, which involves determining direct costs per unit of production based on consumption rates, and indirect costs - in proportion to the characteristic established in the industry. These signs include the following:

quantity of basic production material. Used mainly in material-intensive industries;

cost of the main production material. Used in industries where production requires the use of expensive raw materials;

direct labor time costs. Used in labor-intensive industries;

basic wages for production workers;

machine hours of equipment operation. Used in capital-intensive industries.

The choice of attribute (allowance base) is very important for the enterprise.

In foreign practice, it is customary to distribute indirect costs into the following groups:

overhead costs for materials (OM), for example, costs for maintaining warehouse space, wages for warehouse and purchasing department employees;

production overhead costs (PO), for example, salaries to personnel of the planning and design department, depreciation of equipment and buildings, costs of heating workshop premises;

administrative overhead (AO), for example, salaries of company management;

trade overheads (OH), for example, advertising costs, wages of sales department employees.

AH and TN are usually combined and called firm overhead (FOM).

When allocating these costs, enterprises adhere to the following basic rule: the markup base must reflect the measure of consumption of indirect costs by a particular product.

In accordance with this rule, the following criteria are used as the basis for the allocation of overhead costs:

1. When allocating overhead costs for materials:

1.1. Quantity of main production material - used for material-intensive products that require large raw material costs in units of weight or volume. For example, the criterion can be applied to enterprises in the baking industry.

1.2. The cost of the main production material is used for products in the manufacture of which expensive raw materials are used. For example, it can be used in the jewelry industry.

2. When allocating manufacturing overhead costs:

2.1. Direct labor time – used for labor-intensive products.

2.2. Direct labor costs are used for products with a high share of wages in costs.

2.3. Machine time – used for products that require significant equipment operating time.

3. When distributing general company overhead costs:

3.1. Production cost of production.

3.2. Product sales volume.

When distributing overhead costs, the following feature is taken into account: MN and PN are distributed to the volume of manufactured products, since they appear mainly in connection with production activities; FN are distributed to the volume of products sold, since they arise mainly in connection with the sales process.

As another option for distributing indirect costs, the so-called ABC-costing (activity-based costing) is used, based on the connection of these costs with the production and organizational structure of the enterprise. Structural divisions are identified that are considered as cost centers. Costs are grouped into cost centers based on those activities that directly generate those costs. Accordingly, overhead costs are distributed using the criteria adopted for these cost centers (cost drivers).

After selecting the characteristic (markup base) by which overhead costs will be distributed, the overhead cost rate is determined. The overhead rate is determined as the quotient of total overhead costs divided by the full total markup base. Subsequently, overhead per unit is defined as the product of the overhead rate multiplied by the markup base per unit.

The standard cost calculation method is based on the norms and standards for the use of material, financial and labor resources. Norms and standards must be progressive and scientifically based, aimed at the rational use of all enterprise resources. Accordingly, their values should be reviewed periodically. In this regard, the enterprise needs to organize accounting of changes in current cost standards per unit of production. This method is most widely used in industries with mass production of homogeneous products and well-established planning when preparing cost estimates for new types of products.

The parametric method is used when calculating products of the same type, but of different quality. It is based on establishing patterns of changes in costs depending on changes in parameters that determine product quality. This method allows you to determine the costs of improving the quality parameters of products.

In complex industries - oil refining, coke-chemical, beneficiation, meat and dairy - the cost of raw materials cannot be attributed to a specific type of product. It is necessary to use special calculation methods that would make it possible to determine the total amount of all costs for processing the raw materials and distribute these costs among the types of products produced from these raw materials. These methods include: the method of eliminating costs, coefficient and combined.

With the method of eliminating costs in products obtained as a result of complex processing of raw materials, one type is considered the main one, and the rest are considered by-products. The cost of by-products is excluded from the total costs of processing raw materials, and the remaining amount is charged to the cost of the main product. To determine the value of by-products, various methods are used:

a) current selling prices of the enterprise for by-products;

b) prices for replaced raw materials by-products;

c) costs of producing by-products.

The coefficient method is based on the use of coefficients when distributing complex costs between the resulting products. One of the products is assigned a coefficient of 1, and the rest are equated to it depending on the selected attribute (product weight, selling prices for products, content of organic substances, etc.). The calculation mechanism is as follows:

production output is calculated in conventional units;

the costs per one conventional unit are determined by dividing the total cost of production in conventional units;

the production costs of each type of product are determined by multiplying the costs per one conventional unit by the corresponding coefficient.

The combined method is a combination of the two methods mentioned above. The calculation is carried out in several stages:

1. products are divided into main and by-products;

2. by-products are excluded from total costs as a percentage of the costs of processing all raw materials;

3. the amount of costs remaining after exclusion is distributed between the main types of products in accordance with the coefficients.

With the order-by-order method, the object of accounting and costing is a separate production order created for a predetermined quantity of products. The order specifies the products to be manufactured and their quantity; order fulfillment time; workshops involved in its implementation.

The planned cost of an order is determined by the sum of all production costs for the duration of the order. Accordingly, the reporting cost estimate with this method is compiled after the work has been completed according to the order.

The main characteristics of the custom costing method are the following:

concentration of data on all planned and actually incurred costs and allocating them to individual orders;

measuring costs for each order, rather than over a period of time.

This calculation method is used in industries with mechanical assembly of parts, assemblies and products in general; in industries where there is a close relationship between the technological process between workshops; at enterprises where only one workshop, the last in the technological chain, produces finished products. The custom costing method is most often used in individual and small-scale production.

The cross-cutting method of calculation is used in industries where the raw materials being processed sequentially go through several independent processing phases - processing stages. Each processing stage, with the exception of the last one, represents a completed phase of raw material processing, as a result of which the enterprise receives a semi-finished product of its own production. The cross-cutting method of calculation is used in metallurgy, textiles, woodworking and other industries. Cost calculation when using the step-by-step method is carried out as follows: direct costs are reflected for each process stage separately, the cost of raw materials is included in the cost of production of the first stage, the cost of the final product is the sum of the costs of all stages.

Enterprises that sell semi-finished products externally use a modification of the cross-cutting method of calculation - a semi-finished version of the cross-cutting method. The cost of semi-finished products and finished products consists of the cost of semi-finished products and the previous stages of processing. Naturally, when using a semi-finished version of cost calculation, repeated calculation takes place. Such a layering in cost accounting is called intra-factory turnover, which must be excluded when summing up costs for the enterprise as a whole.

In foreign practice, the cross-cutting method is called the process-costing method.
Operational costing refers to the so-called mixed costing systems (hubrid costing), which occupy an intermediate position between the order-by-order and process-by-process methods. In case of operational costing, the order-by-order method is used to account for materials, and the process-by-process method is used to account for wages and overhead costs. Often in practice, enterprises use a planned coefficient to attribute overhead costs and wages to the cost of production using this method. As a result, the cost consists of “actual materials” and “actual wages and ODA distributed on the basis of the planned coefficient.” This cost is called the “normal cost”, in contrast to the actual cost, and the costing system itself is called the “normal costing system”.

The considered calculation systems make it possible to attribute all production and sales costs to one object. The costs of an enterprise under the full cost allocation model are entirely determined by production and the choice of product range. The main problem that an enterprise faces with this costing model is choosing a fair cost distribution principle.

The procedure for accounting for production costs and calculating the cost of products (works, services) or accounting for distribution costs is determined by the organization independently based on industry specifics and regulatory documents (if any) applied to the extent that does not contradict new regulatory documents on accounting.

1.3 Prospects for improving methods for calculating product costs

In the conditions of developing market relations in our country, the enterprise becomes legally and economically independent; achieving positive results of its activities now completely depends on skillful management and making the right management decisions.

The domestic system of accounting for production costs met the requirements of a centrally controlled economy: it provided information about all costs actually incurred in the production process.

As enterprises with different forms of ownership become isolated, processes of privatization of state-owned enterprises develop, mechanisms for free pricing and independent planning of the range of products are introduced, and other aspects of the market economy develop, there appears a need for Western methods of cost formation, for example, direct costing; further development will depend on this. accounting efficiency.

With the traditional method of calculating product costs, all costs are distributed between sold products and the remaining products in the warehouse. With this method, the costs of producing a specific type of product and the costs of the enterprise itself are mixed.

Another method of cost accounting and costing - direct costing - includes only variable costs. Direct costing is a management accounting system based on the classification of costs into fixed and variable depending on the volume of production, activity or capacity utilization and includes accounting and analysis of costs and results. Schematically, the result of modeling the activities of an enterprise using various cost calculation methods can be presented in the form of diagram 1.1.

With the direct costing system, as mentioned above, cost accounting is carried out only for variable costs. Fixed expenses are not included in the calculation of the cost of products, but as expenses of a given period are written off from the profit received during the period in which they were incurred. The balances of finished products in warehouses at the beginning and end of the year and work in progress are also assessed using variable costs.

Calculating cost using this system makes it possible to obtain additional indicators that reflect the activities of the enterprise: marginal production income and marginal sales income. This allows you to build a more multi-stage report.

Scheme 1.1. Modeling the activities of an enterprise using various methods of cost formation

Calculating cost using various methods, and conducting traditional and marginal analysis based on this, also affects the procedure for calculating such important indicators as profit and profitability. This, in turn, is reflected in the calculation of the influence on changes in these indicators of the following factors: volume and structure of products sold, prices, costs.

We can say that the economic system, the core of which is market relations, complicates the orientation of an enterprise in modern conditions, the importance of enterprise management and the formation of an array of objective information to ensure its effective functioning increases. One of the important internal indicators is the cost of production. Cost can be determined either by full attribution of costs, or by partial attribution.

Regarding the applicability of each method, the following can be said. Both methods have their advantages and disadvantages, so they are often used in parallel in practice. The rate of profit and prices for the main products of the enterprise in the long term are established according to the method of full accounting and cost calculation, taking into account supply and demand. The same method is used to calculate the actual cost per unit of production for the reporting period, which must include all costs. The partial cost accounting system ensures the process of making management decisions, expands the analytical capabilities of accounting, and allows you to build a profit management system.

Most large commercial organizations maintain accounting policies. This may be due both to legal requirements and to the objective needs of firms, determined by the specifics of doing business, its scale, and the characteristics of business operations. The norms regulating management can be fixed both at the level of legislation of the Russian Federation and in the organization. What are the main sources of law that regulate this area of activity of Russian firms? What are their main provisions?

What is the accounting policy?

Accounting policy is usually understood as the activities of an organization, which is associated with the preparation of various documents reflecting significant events in the economic life of the company. In the Russian Federation, it is represented by 2 main types of accounting - accounting and tax. As a rule, the first type of reporting is more complicated, therefore, in order to regulate it, the state issues specialized regulations. The company's accounting policies, mainly related to its financial statements, must be sustainable, legal, and up-to-date. It is formed based on the priorities of a particular organization, but must comply with established legal norms. Let's consider in what sources they can be recorded.

Accounting policies of accounting: basic rules of law

The accounting policies of PBUs in the Russian Federation are regulated by the provisions of regulations at the federal level. The main regulatory legal act of the corresponding type is Order of the Ministry of Finance of Russia No. 106n, adopted on October 6, 2008. Through this source, the position “Accounting Policy of the Organization PBU 1/2008” was approved, as well as PBU 21/2008, which supplements the first document. Previously, the regulatory source PBU 1/98 was in force in the Russian Federation.

It can be noted that, along with the main legal acts regulating accounting - PBU 1/2008, sources have been adopted in accordance with which records should be kept for individual business transactions and payments to the budget of the Russian Federation. For example, if a company pays income tax, then the main regulatory legal act, in accordance with which its accounting policy should be structured, is 18 PBUs.

There are separate sources of rules that regulate accounting for various assets, loans, investments that the company deals with. But, one way or another, the main source of accounting standards is PBU 1/2008. It contains rules common to all companies that govern accounting policies - regardless of the organization’s taxation system and the specifics of its business operations.

Let's consider the main provisions contained in the document PBU 1/2008 (“Accounting Policies of the Organization”). The years 2015 and 2016 were not characterized by significant legislative adjustments to the relevant legal acts. But they were. Thus, the current version of the “Accounting Policy” was adopted on April 6, 2015. So, let's study the main provisions of this legal act.

PBU 1/2008: general provisions

The source of law under consideration forms the rules for drawing up the accounting policies of companies in the status of legal entities. The jurisdiction of this regulatory legal act does not extend to banking organizations, state and municipal structures. If a representative office of a foreign company conducts business in the Russian Federation, then it can adhere to the relevant norms or those rules that are established in their state, provided that they do not contradict the provisions of Russian legislation governing accounting.

PBU “Accounting Policy of the Organization” regulates the areas of activity of enterprises that are related to accounting, monitoring, measurement, grouping and subsequent generalization of the results of economic activities in the company. Accounting in accordance with the norms of the source of law in question can be carried out using different methods. For example:

Groupings, as well as assessments of facts of activity;

Asset compensation;

Ensuring document flow;

Carrying out inventory;

Use of accounting accounts;

Maintaining specialized registers;

Processing various types of information.

The standards of PBU “Accounting Policy” apply to all Russian companies. But in terms of the actual disclosure of procedures within the framework of accounting policies - to those organizations that publish their reports in accordance with the legislation of the Russian Federation, statutory documents or due to their own initiative.

How is accounting policy formed?

Let's consider how the PBU accounting policy is formed in accordance with the legal regulations under consideration. This area of the company’s activities is carried out under the guidance of the organization’s chief accountant or other responsible employee of the organization.

As part of accounting, the following must be approved:

Working plan of accounts used by the company;

Forms of documents used in accounting, as well as registers;

Form of sources used within internal reporting;

Inventory rules;

Methods for valuing a company's assets, as well as its liabilities;

Methods of document flow and information analysis;

Rules for exercising control over various business transactions.

Employees of the company responsible for the accounting policy may make other decisions within the framework of the considered area of \u200b\u200bthe company's activities.

The PBU accounting policy also assumes that:

The resources and liabilities of the company are considered separately from the assets and debts of the owners of the relevant organization and other companies;

The company operates sustainably, and its managers have no intentions of liquidating the business or reducing economic activities, as a result of which the company’s debts will be paid according to established schemes;

The accounting policy adopted by the company is characterized by stability, consistency and is carried out according to uniform principles in different years;

The facts of the organization's economic activities are correlated with specific reporting periods.

The legislator requires companies implementing accounting policies to ensure:

Correct recording of certain facts of economic activities in accounting;

The relevance of reflecting information about the company’s activities in the reporting;

Preferential readiness to consider expenses and debts than revenues and assets without the formation of hidden resources;

Reflection of facts in accounting, first of all, based on their real economic content, and not their legal form;

Equality of accounting indicators in terms of turnover and balances within the reporting periods;

The priority of rational accounting methods used taking into account the conditions for the company’s business activities, as well as the scale of the organization.

The legislation of the Russian Federation allows small enterprises to formulate accounting policies in a simplified form.

The accounting policy of PBU assumes that a company, if it does not find the necessary guidelines in the provisions of the regulations of the Russian Federation, must use its own rules, as well as IFRS - international rules for the preparation of financial statements.

The company, having adopted an accounting policy, must formalize it through separate organizations approved by management. The accounting methods determined by the organization must be applied from the beginning of the year following the year in which the corresponding methods were approved. If the company was founded recently, then its accounting policies must be adopted within 90 days from the date of registration of the company.

Adjustment of accounting policies

Document PBU 1/2008 (“Accounting Policy of the Organization”) regulates how a company should adjust accepted accounting standards. Thus, corresponding changes can be made if the regulatory provisions have changed in the legislation of the Russian Federation. Adjustments to the accounting policy can be carried out if certain business conditions change in the company - for example, due to reorganization or due to changes in certain types of commercial activities. If a company has decided to change its accounting policy, the rules in question require that this action be carried out based on the principle of validity.

In general, adjustments to accounting policies take effect from the beginning of the reporting year. Other deadlines may be determined by factors that determined the corresponding changes. Accounting policy (PBU 1/2008) instructs firms to consider the consequences of adjusting the rules governing the line of business in question. Thus, if the corresponding changes affect the financial stability of the company, the results of its operations or the flow of capital, they are assessed in monetary terms based on reliable data.

If adjustments to accounting policies are caused by changes in the norms of regulatory legal acts, then they are reflected in accounting in the manner prescribed by law. Companies that have the right to use simplified accounting methods may record in their reporting adjustments to accounting policies that could potentially affect financial results, unless otherwise prescribed by the legislation of the Russian Federation.

If the changes in question are capable of having a significant impact on the dynamics of capital turnover in the organization, then they should be separately disclosed in the reporting. Let's consider this aspect in more detail.

Disclosure of adopted accounting policies

In accordance with the accounting policies of PBU 1-2008, firms are required to disclose their accounting policies through established methods. First of all, in such an aspect as accounting methods, which have a decisive influence on the process of evaluation and practical application of decisions by reporting users.

The key ones in this case should be considered those methods that allow the most reliable familiarization of interested parties with the financial results of the organization. The way in which financial statements should be disclosed is determined by the legislation of the Russian Federation. If a company's accounting policy is created taking into account possible assumptions that are provided for by law, then such approaches may not be disclosed in the reporting. But if the assumptions made by the company are not required by law, then they, in turn, must be disclosed.

PBU “Accounting Policies” provides for an option in which, in the process of preparing reports, some uncertainty is formed in the aspect of considering events and factors that could cast doubt on the continuity of business activities, then the company must reflect in the accounting documents circumstances related to such a problem. If a company's accounting policies are changed, it must disclose information that reflects:

Reasons for adjusting accounting policies, as well as the essence of changes in them;

The procedure according to which the consequences of innovations in accounting policies are reflected in the reporting;

Financial indicators of adjustments reflecting the changes in question in relation to each line item.

If disclosure of data for one reason or another is impossible, then this fact should be taken into account provided that the period within which the company begins to use the new accounting policy is indicated.

PBU “Accounting Policies of an Organization” contains norms according to which firms are required to disclose information about the non-application of legal acts that have been adopted but are not in effect until a certain date, as well as a prospective assessment of the consequences of applying this act during the period when it acquires legal force. The way the company conducts accounting, as well as information about adjustments to its accounting policies, must be disclosed in a special document that is attached to the accounting documents.

Along with PBU on accounting policies, by order of the Ministry of Finance of the Russian Federation No. 106n, another regulatory source was introduced - PBU 21/2008. Let's take a closer look at its features.

PBU 21/2008: basic standards

The document in question contains provisions that regulate the procedure for recognition, as well as disclosure in accounting, of information relating to the adjustment of estimated values for certain accounting elements. By such, document PBU 21/2008 prescribes to understand changes in the price of an asset or debt of a company or a value that reflects compensation for the value of an asset due to the appearance of updated significant information. However, adjustments to the method for estimating the company's resources and liabilities are not classified as a change in the estimated value. But if any innovation in accounting cannot be considered within a separate category that characterizes changes in the accounting policy, then for reporting purposes it is recognized as a change in the estimated value. Let's study how it is recognized in practice.

Recognition of an adjustment to an accounting estimate

The regulatory legal acts, which supplement the document PBU-2008 (“Accounting Policies of the Organization”), contain rules according to which changes in the estimated value must be recognized in accounting by including in the company’s revenue or costs:

Within the period in which a particular change is recorded, if it directly affects the accounting data;

Within the period in which the change was recorded, as well as future periods if the adjustment affected reporting for both intervals.

If the change affects the firm's capital, it should be recognized by adjusting the shares of capital in the financial statements for the period in which the corresponding innovation was recorded.

IFRS accounting standards

Along with PBU-1 (“Accounting Policy of an Organization”), a Russian source of law, accounting can also be regulated by international standards. Let's study their specifics in more detail.

One of the main international documents establishing PBUs is IFRS 8. In accordance with its provisions, accounting policies should be understood as principles, fundamentals, contracts, rules, as well as practical actions that are carried out by the company for the purpose of preparing financial statements. The main principle of international accounting regulation is the priority of reliability over formalities.

Another remarkable nuance characterizing IFRS is that in the original texts of the relevant sources of law, the phrase “accounting policy” most often appears in the plural. Experts explain this by the fact that abroad this area of activity of firms involves a combination of various actions. In turn, in Russia, even the latest version of PBU (“Accounting Policy of the Organization”), 2015, assumes the use of the specified term in the singular.

Another notable aspect of IFRS is that international standards allow companies to independently determine how information related to accounting should be disclosed. Thus, it can be disclosed in the form of notes or as a separate component of the statements.

An extremely important characteristic of IFRS is that the relevant legal norms do not require firms to use uniform charts of accounts in the accounting process. In principle, it is optional - although in practice it is quite difficult to do without it, since, as a rule, there is a need to conduct operations in companies. In turn, in Russia there is a unified chart of accounts and must be applied in accordance with the standards established by law.

Quite superficially, IFRS standards regulate the preparation of annexes to accounting policies. Firms, in accordance with international rules, do not have to draw them up - but, again, in practice they usually have to draw up such documents.

Summary

The main source of law, according to which Russian companies must accept various business transactions for accounting, is the “Accounting Policy of the Organization” PBU 1/2008. It may be supplemented by other regulations that regulate certain aspects of accounting. Russian laws governing financial reporting may be applied along with international standards. There are a number of fundamental differences between them. IFRS rules can be applied in the Russian Federation if they do not contradict the norms of Russian legal regulations governing accounting.

The sources of law in accordance with which accounting must be conducted in the Russian Federation are mandatory, but contain fairly general requirements for the implementation by firms of the line of business under consideration. A significant part of the work on creating a local accounting system should be carried out directly by the company - its chief accountant and other responsible employees. The accounting rules adopted by the organization are approved by its management and are binding on all financial divisions of the company.

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Accounting policies of PBU: application and general provisions. On approval of accounting regulations The concept of “immaterial information”

I. General provisions

II. Formation of accounting policies

III. Change in accounting policy

IV. Disclosure of accounting policies

Appendix No. 1. Accounting Regulations "Accounting Policy of the Organization" (PBU 1/2008)

I. General provisions

II. Formation of accounting policies

III. Change in accounting policy

IV. Disclosure of accounting policies

Appendix No. 2. Accounting Regulations “Changes in Estimated Values” (PBU 21/2008)

Formation of accounting policies

Who draws up the accounting policy

Primary accounting documents

Development of accounting methods

Reorganized companies

Change in accounting policy

Table 1. Fragment of the balance sheet of OJSC "Alfa" for the reporting periods of 2008

Table 2. Fragment of the report on changes in capital (form No. 3) of Alfa OJSC for 2008

Disclosure of accounting policies

What is the accounting policy?

Accounting policies of accounting: basic rules of law

PBU 1/2008: general provisions

How is accounting policy formed?

Adjustment of accounting policies

Disclosure of adopted accounting policies

PBU 21/2008: basic standards

Recognition of an adjustment to an accounting estimate

IFRS accounting standards

Summary

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