International Accounting

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Accounting in small business entities: Russian and foreign practices

Vol. 22, Iss. 11, NOVEMBER 2019

Received: 24 October 2019

Received in revised form: 30 October 2019

Accepted: 1 November 2019

Available online: 15 November 2019


JEL Classification: M41, М48

Pages: 1223–1238

Fedorchenko O.I. Financial University under Government of Russian Federation, Kursk Branch, Kursk, Russian Federation

ORCID id: not available

Fedorchenko T.A. Financial University under Government of Russian Federation, Kursk Branch, Kursk, Russian Federation

ORCID id: not available

Subject This article discusses the issues related to accounting system set up in the context of State support for small business.
Objectives The article aims to identify directions for further development of the accounting procedures at small and medium-sized enterprises in the Russian Federation and ways to improve them.
Methods For the study, we used a set of methods and principles of scientific knowledge and research.
Results The article describes the factors that influence the development of small and medium-sized enterprises and the system of indicators that characterize their economic conditions. It presents a classification of government support measures for small and medium-sized enterprises and incentive instruments to stimulate them in the field of taxation. The article also classifies simplified methods of accounting and financial statements formation, formulates and determines the procedure and expected effect of their application.
Conclusions and Relevance For small business, the Russian practice provides a number of advantages in simplifying taxation and accounting. This helps reduce the labor-intensive accounting work and the costs of small business. The results of the study can have an impact on the development of small and medium-sized enterprises and the improvement of their accounting process.

Keywords: accounting procedures, small and medium-sized enterprises, accounting policy


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