Accounting standards: essence, classification and scope of application

Abstract

Importance: rather strict requirements are imposed on the information generated within the framework of accounting by its users. One of the qualitative characteristics of accounting (financial) statements is reliability, which is defined as the compliance of information with the requirements of current legislation. Accounting standards refer to documents in the field of accounting regulation. An unambiguous understanding of the requirements of accounting standards and knowledge of their hierarchy make it possible to organize accounting in an economic entity, as well as competently generate and use information. Purpose: to substantiate the importance of accounting standards in the regulatory system, to investigate the essence of each type of existing standards, to determine their scope and obligation to apply in practice, as well as to identify problematic aspects accompanying the process of accounting reform. Research design: in order to achieve this goal, there was. Results: the significance of accounting standards of the Russian Federation and international accounting standards is substantiated. The essence of accounting standards as a whole is determined and the distinctive features of each of the groups of standards (IFRS, federal standards, industry standards, standards of an economic entity) are identified. The signs of imperfection of the current regulatory system in accordance with the levels of hierarchy are formulated, and possible ways of leveling them are proposed.