TO THE ISSUE OF THE ROLE AND PRINCIPLES OF FORMATION OF ACCOUNTING BALANCE

The balance sheet, approaches to its compilation, the format of presentation of indicators have changed many times. The concept of the balance sheet in the historical retrospect has changed quite a large number. However, the origins of these concepts remained virtually unchanged. A somewhat more conservative attitude towards the balance sheet and its transformations has developed in Russia. Nevertheless, changes are necessary and conditioned, first of all, by active integration into the world economic community. Such integration requires compliance with the basic international concepts — IFRS and GAAP, to which we have been gradually approaching for several decades. Despite the progressive nature of this process, the last significant change in the balance sheet was nine years ago. And although small changes are carried out almost every year, there is an urgent need to further improve the regulatory framework of the balance sheet and the basic principles of its preparation. The relevance of the described scientific problem is due to the fact that the balance sheet plays one of the most important roles in accounting, being an integral part of the elements of its method, and occupies the most important place in the accounting (financial) reporting system, allowing us to evaluate the property and financial position of the organization and on this basis to make informed management decisions. In the Russian Federation, this problem is of particular relevance, since in our country, the balance sheet, in contrast to Western countries, is the most important and sought-after form of accounting (financial) reporting. Solving the problem of ensuring the qualitative reflection of information in the balance sheet requires adherence to certain basic principles of compilation, which are nonetheless debatable. The article substantiates the need for their regulatory settlement, suggests their composition.

balance sheet, asset, liability, change, formation, information, principles, concept, regulation, quality of accounting information.

Khristolyubova V. V., Ivanov E. A., Malinina L. Yu. To the issue of the role and principles of formation of accounting balance. Business. Education. Law, 2019, no. 3, pp. 192–196. DOI: 10.25683/VOLBI.2019.48.344.