Problem aspects of accounting policies forming of public sector entities

Abstract

This article discusses the problem of forming effective accounting policies of public sector entities, which in the present conditions of high financial instability and the lack of real economic development of the national economy has particular relevance and requires the development of scientific and applied approaches.

The purpose of the article is to identify problematic aspects of formation and use of administrative documents on the accounting policies of public sector entity.

It is developed a content structure of accounting policies of budgetary institutions, which should include a corporate component, property rights and financing, organizational, technological and methodological component. It is analyzed the order of accounting policies formation and identified problematic aspects of the formation of an effective accounting policies of public sector entity.

In current practice there is an adaptation to the conditions of work with national accounting standards of public sector entities. At the same time there are many organizational problems. Under these circumstances the difficulty of developing an accounting policies is that accounting professionals must not only understand the theory, which is based on accounting principles for accounting, but also know to what extent these principles in substance and form must be observed in practice; permissible level of degrees of freedom of application of these principles.

An institution will be able to properly and effectively implement accounting and accurately prepare their financial statements taking into account these recommendations.