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International Accounting
 

Accounting and reporting information: principles of preparation under restrictions

Vol. 18, Iss. 6, FEBRUARY 2015

Available online: 18 April 2015

Subject Heading: PRINCIPLES OF ACCOUNTING

JEL Classification: 

Pages: 2-13

Rudakova T.A. Altai State University, Barnaul, Altai Krai, Russian Federation
rta_62@mail.ru

Importance Economic processes in the conditions of economy development require adequate information support. The basis of management decisions is relevant information; its major component is accounting data. This circumstance necessitates the presentation of information in the reporting, determining its structure and scope. Compliance with accounting principles in the course of preparation of reporting information provides the main information product, i.e. the reporting, with certain qualitative characteristics. The existing restrictions in the course of the preparation of the reporting information make it less reliable for users. The integration of the Russian economy into the world community increases the number of users interested in the information product and imposes increased requirements to its contents.
     Objectives The objectives of the study are to position the accounting and reporting information in the economic space; to define the identification attributes of reporting information; to classify the accounting principles in the conditions of their limited observance.
     Methods I conducted the research in two directions that supplemented each other, i.e. from general to specific, and from specific to general. The principles of accounting were the general deductive basis. The restrictions of accounting principles observance in the preparation of accounting and reporting information by economic entities to assess its reliability served as specific.
     Results I emphasized a separate classification group from the economic information structure, i.e. the accounting and reporting information. I formulated unique definitions of its structural elements and types. The paper presents the classification of accounting principles in conditions restricting their observance.

Keywords: accounting, reporting information, financial statements, corporate reporting, consolidated reporting, principle

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