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International Accounting
 

Topical issues of developing the accounting policy of a public institution

Vol. 18, Iss. 10, MARCH 2015

Available online: 16 May 2015

Subject Heading: Managerial accounting

JEL Classification: 

Pages: 26-38

Koteneva T.V. Samara State University of Economics, Samara, Russian Federation
kotenevatv@mail.ru

Subject The article analyzes the laws and regulations of the Russian Federation on the reform of public institutions, which resulted in a new type of institutions, i.e. public institutions.
     Objectives Public institutions represent a form of non-profit organizations and are required to keep financial and tax accounting. The objective of the study is to give a definition of the accounting policy and present its theoretical and methodological aspects being essential for providing accurate, timely and reliable information.
     Methods The study outlines the main approaches to the formation of accounting policy, i.e. methodological, organizational and technical ones.
     Results
I have determined the structure of an accounting policy of a public institution. It has three parts: financial accounting, tax accounting and management accounting and describes the methods for asset and liabilities valuation, creation of primary accounting documents where standard forms are not available, accounting ledgers, operational chart of accounts, off-balance sheet accounting, procedure and timing of stock taking of assets and liabilities, internal control, and other issues. The organizational section contains requirements for job descriptions of specialists responsible for financial, tax and management accounting. The technical section discusses the expediency of using the software based on 1С: Accounting in a Public Institution 8, configuration and platform 1С: Enterprise 8.2.
     Conclusions and Relevance The accounting policy contains methodological, organizational and technical aspects, which are unique, and may be useful for developing a uniform accounting policy for public institutions.

Keywords: public institutions, accounting policy, accounting, tax accounting, management accounting

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