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International Accounting
 

Denial of additional accounts as an option to enhance the efficiency of accounting

Vol. 18, Iss. 45, DECEMBER 2015

Received: 22 December 2015

Received in revised form: 1 February 2016

Accepted: 17 February 2016

Available online: 18 March 2016

Subject Heading: THEORY OF ACCOUNTING

JEL Classification: 

Pages: 47-62

Lebedev K.N. Financial University under Government of Russian Federation, Moscow, Russian Federation
KNLebedev@fa.ru

Importance The research focuses on ways to improve the accounting process and simplify it.
     Objectives The research substantiates the need to deny additional accounts, and authorize entities to decide on the issue on their own. I pursue proving the simplicity is unreasonable to be excluded out of the accounting principles; demonstrating the socialist practice of denying additional accounts; identifying the effect of carrying goods in the same account; showing that such optimization does not reduce the information value of the accounting process; demonstrating that the country adopted the practice of multiple additional accounts due to ideological and political reasons during repressions of Stalin's rule.
     Methods The research employs methods of scientific abstraction, and a combination of logic and historical approaches to analysis.
     Results I proposed the cost accounting system implying single accounts to keep records of various property movements.
     Conclusions and Relevance When entities simplify their accounting process by abandoning additional accounts, it becomes an effective tool to improve the accounting process. However, this task is not stipulated in the State political documents on accounting. The findings can be used to give classes of accounting as an alternative to its contemporary format, basis for a theoretical model of the accounting process on the simple-to-complex basis in terms of accounts. As an alternative model, the findings can be used by regulators and for further researches into the main accounts.

Keywords: accounting, single account, main account, additional account

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