Home  Journals  International Accounting  30(276) - 2013 August

Accounting policy of organization and consequence of its variation

Available online: 23 August 2013

Subject Heading: ON WAY TO THE INTERNATIONAL STANDARDS

JEL Classification: 

Now in Russia purposeful work on approximation of the Russian standards of accounting, including Position on accounting 1/2008 «Accounting Policy of the Organization», to the international standards of the financial reporting is conducted. In the present work based on comparative analysis of IAS 8 «Accounting Policies, Changes in Accounting Estimates and Errors» and Position on accounting 1/2008 «Accounting Policy of the Organization» the order of reflection of consequences of alteration of registration policy in the accounting reporting is analyzed. It is concluded that alterations of registration policy should be reflected not only in the accounting reporting, but also on accounts.

Keywords: accounting policy of the organization, retrospective application, perspective application, cumulative effect

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ISSN 2311-9381 (Online)
ISSN 2073-5081 (Print)

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