Audit. Analysis and evaluation of accounting policies (most important)

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Audit. Analysis and evaluation of accounting policies (most important)

Lecture notes, cheat sheets

Directory / Lecture notes, cheat sheets

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37. ANALYSIS AND EVALUATION OF ACCOUNTING POLICIES

The process of forming an accounting policy includes several stages:

1) assessment of the existing process of collecting and processing financial and accounting information;

2) development of management accounting standards;

3) development of accounting standards;

4) conjugation of managerial and accounting aspects of accounting policy;

5) interaction of accounting policy and other functions of enterprise management;

6) determining the impact of accounting policies on the indicators of the financial condition of the organization;

7) determination of the mechanism for making changes to the accounting policy.

Failure to comply with these steps leads to a distortion of the property and financial results of the enterprise and should be considered as incorrect accounting. Changes in accounting policies can be made in the event of a change in the legislation of the Russian Federation and regulatory acts on accounting, the development of new accounting methods by the enterprise, a significant change in the conditions of activity (change of owners, reorganization, change in the type of activity). Summarizing the results of studying the accounting and accounting policies of the enterprise, the auditors establish the compliance of the organization of accounting and accounting policies with the requirements of the current legislation and the specifics of the enterprise's activities.

Typical mistakes and violations:

1) incomplete disclosure of information about the methods of organizing and maintaining accounting at the enterprise;

2) lack of a scheme and schedule of workflow;

3) non-compliance of the date of approval of the accounting policy order with the requirements of the legislation.

Accounting policies and financial procedures are applied consistently from year to year from 1 January of the year following the year of approval. When auditing an accounting policy, it is important to check whether any changes were made to the accounting policy, whether the organization had the right to make these changes, whether the changes came into force on the date established by law, whether the accounting in the organization complies with the provisions enshrined in the accounting policy, whether the reporting was adjusted after the changes made to the accounting policy.

Additions to the accounting policy may be made during the year in the following cases:

1) omissions of any points during its initial approval;

2) changes in the types of activities of the enterprise;

3) the emergence of new areas of accounting.

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