The role of accounting policies in forming the financial results of company’s activity

Abstract

Purposes : the aim of article is determination of the role of accounting policy in the formation of financial results of company’s activity and also revealing its influence on profit or loss. Discussion : the study of the accounting policy, as a factor which influence on the formation of financial results, was carried out on the basis of generalization and systematization of information presented in regulatory legal acts in the field of accounting, as well as approaches of specialists in the field of economic analysis. Results : the essence of the accounting policy is determined as the basic normative document at the organizational level. Moreover the main requirements to the formation of the accounting policy are given in result of research. The influence of the accounting policy is examined as a tool for managing the amount of financial result. Besides, we consider the consequences of influence of the accounting policy on the financial result. Also we determine that it is necessary to evaluate the quality of the accounting policy while preparing economic analysis.