New Federal Law on Accounting: General Provisions. New Federal Law on Accounting: General Provisions Innovations in Accounting Regulation

08.02.2022

2. In the event that an individual entrepreneur, a person engaged in private practice, keep accounting in accordance with this Federal Law, they themselves organize accounting and storage of accounting documents, and also bear other obligations established by this Federal Law for the head of an economic subject.

3. The head of an economic entity shall be obliged to entrust accounting to the chief accountant or other official of this entity, or to conclude an agreement on the provision of accounting services, unless otherwise provided by this part. The head of a credit organization is obliged to entrust accounting to the chief accountant. The head of an economic entity who, in accordance with this Federal Law, has the right to apply simplified methods of accounting, including simplified accounting (financial) statements, as well as the head of a medium-sized business entity, with the exception of economic entities specified in Part 5 of Article 6 of this Federal Law, may take over the accounting.

4. In open joint stock companies (except for credit organizations), insurance organizations and non-state pension funds, joint-stock investment funds, management companies of mutual investment funds, in other economic entities whose securities are admitted to circulation on organized trading (with the exception of credit organizations) , in the management bodies of state extra-budgetary funds, management bodies of state territorial extra-budgetary funds, the chief accountant or other official who is responsible for accounting must meet the following requirements:

1) have higher education;

2) have work experience related to accounting, preparation of accounting (financial) statements or audit activities for at least three years out of the last five calendar years, and in the absence of higher education in the field of accounting and auditing - at least five years out of the last seven calendar years;

3) not have an unexpunged or outstanding conviction for crimes in the field of economics.

5. Additional requirements for the chief accountant or other official responsible for accounting may be established by other federal laws.

6. An individual with whom an economic entity enters into an agreement on the provision of accounting services must comply with the requirements established by part 4 of this article. A legal entity with which an economic entity enters into an agreement on the provision of accounting services must have at least one employee who meets the requirements established by paragraph 4 of this article, with whom an employment contract has been concluded.

7. The chief accountant of a credit institution and the chief accountant of a non-credit financial institution must meet the requirements established by the Central Bank of the Russian Federation.

8. In the event of disagreements regarding the maintenance of accounting between the head of an economic entity and the chief accountant or other official who is entrusted with the maintenance of accounting, or a person with whom an agreement on the provision of accounting services has been concluded:

1) the data contained in the primary accounting document are accepted (not accepted) by the chief accountant or other official who is entrusted with accounting, or by the person with whom the contract for the provision of accounting services has been concluded, for registration and accumulation in registers accounting by written order of the head of the economic entity, which is solely responsible for the information created as a result of this;

2) the object of accounting is reflected (not reflected) by the chief accountant or other official who is entrusted with accounting, or by the person with whom the contract for the provision of accounting services has been concluded, in the accounting (financial) statements on the basis of a written order of the head an economic entity that is solely responsible for the reliability of the presentation of the financial position of the economic entity as of the reporting date, the financial result of its activities and cash flows for the reporting period.

Judicial practice under article 7 of the Federal Law of December 6, 2011 No. 402-FZ

Decision dated February 6, 2019 in case No. А65-35675/2017

Also includes accounting documents, tax reporting, documents on the labor activity of employees, reporting on insured persons to the Pension Fund of the Russian Federation. According to Part 1 of Article 7 of the Federal Law of December 6, 2011 N 402-FZ "On Accounting" (hereinafter referred to as the Accounting Law), accounting and storage of accounting documents are organized by the head ...

Decision dated February 6, 2019 in case No. А65-21767/2018

Arbitration Court of the Republic of Tatarstan (AC of the Republic of Tatarstan)

The plaintiff's address was given the originals of the following documents: the charter in the wording approved by the minutes of the extraordinary general meeting of participants No. 13/07 dated 07/13/2012 (4 sheets containing 7 pages of text); foundation agreement dated 24.02.2009 (on 2 sheets); certificate of state registration (OGRN), certificate of registration (TIN); decision No. 1 dated 30.09....

Judgment dated February 6, 2019 in case No. А56-69577/2015

It is mandatory for lower courts by virtue of the provisions of Article 289 of the Arbitration Procedure Code of the Russian Federation. In addition, the presumption that the head of the debtor has the documentation of the organization arises from the obligation of the head to ensure the maintenance and accounting of accounting documentation established by Article 7 of the Federal Law of 06.12.2011 No. 402-ФЗ “On Accounting”. In violation of Part 1 of Article 65 of the Arbitration Procedure Code of the Russian Federation, ...

Ruling dated February 6, 2019 in case No. А33-11420/2016

Third Arbitration Court of Appeal (3 AAS)

To the arbitration court and filing such an application, for the obligations of the debtor that arose after the expiration of the period provided for in paragraphs 2 and 3 of Article 9 of the said Law. In paragraph 7 of the Decree of the Plenum of the Supreme Arbitration Court of the Russian Federation of December 15, 2004 N 29 "On some issues in the practice of applying the Federal Law" On Insolvency (Bankruptcy) "it is explained that subsidiary liability ...

Judgment dated February 5, 2019 in case No. А56-42390/2018

Thirteenth Arbitration Court of Appeal (13 AAS)

On bankruptcy" has nothing to do with the considered separate dispute. The obligation to store the documentation, as well as to restore it in case of loss, lies with the head of the debtor, in accordance with Article 7 of the Federal Law of December 6, 2011 N 402-ФЗ "On Accounting" and Article 50 of the Federal Law "On Limited Liability Companies" According to the information contained in the extract...

Resolution dated February 5, 2019 in case No. А50-22611/2016

Arbitration Court of the Urals District (FAS UO)

Ensuring the safety for certain periods (at least five years) of primary documentation, on the basis of which such records are kept and reports are submitted, is established by the provisions of Articles 6, 7, 9, 29 of the Federal Law of December 6, 2011 No. 402-FZ "On Accounting" , as well as Article 50 of the Federal Law of February 8, 1998 No. 14-FZ “On Companies ...

Ruling dated February 5, 2019 in case No. А37-205/2015

Sixth Arbitration Court of Appeal (6 AAC)

In an insolvency (bankruptcy) case, including the formation and implementation of the bankruptcy estate, as well as satisfaction of creditors' claims. In accordance with paragraph 1 of Article 7 of Federal Law No. 402-FZ of December 6, 2011 “On Accounting” (hereinafter referred to as Federal Law No. 402-FZ), accounting and storage of accounting documents are organized by the head of the economic ...

Judgment dated February 4, 2019 in case No. А56-71219/2013

Thirteenth Arbitration Court of Appeal (13 AAS)

S.V. transactions, responsibility for the organization of accounting in organizations, compliance with the law in the performance of business operations are the heads of organizations. The same provision is enshrined in Article 7 10.

Judgment of February 4, 2019 in case No. А60-30219/2015

Seventeenth Arbitration Court of Appeal (17 AAS)

Reporting year (clause 1, article 29 of Law N 402-FZ). Accounting and storage of accounting documents are organized by the head of the economic entity (clause 1, article 7 of Law N 402-FZ). On the basis of paragraph 16 of the Resolution of the Plenum of the Supreme Court of the Russian Federation of December 21, 2017 N 53 "On some issues related to the involvement of controlling debtors ...

What is accounting, why is it needed and how is it conducted? What is an account and posting? How to distinguish an asset from a liability and what is an accounting policy

How to organize accounting in the enterprise

In order to competently keep records at the enterprise, draw up postings, draw up primary documents, and calculate taxes, you need to understand how accounting is organized at the enterprise.

First of all, it should be noted that the main legislative projects that regulate the accounting process are the Federal Law “On Accounting” No. 402-FZ and the Regulation on Accounting and Accounting in the Russian Federation.

The fundamental law is No. 402-FZ, and the Regulation supplements and specifies it. The Law "On Accounting" was last amended on July 19, 2017. In the new edition, many points of the law are presented in a new form, various clarifications have been made.

The above documents define the basic principles of accounting.

Basic accounting rules

The collection and processing of information at the enterprise occurs continuously.
From the approved Chart of Accounts, a working plan is formed, on which accounting will be carried out at the enterprise.
Accounting is kept in monetary terms in rubles and in Russian.
For each business transaction at the enterprise, an accounting entry is drawn up according to the principle of double entry.
For each business transaction, a primary document is drawn up, which must be drawn up at the time of the transaction or immediately after its completion. Posting for each transaction should only be carried out if there is a supporting document.
For registration of primary documents, standard forms are used (if they are developed and approved). If there is no unified form for the document, then it is drawn up in an arbitrary form, but with the content of all the required details.
Information from accounting documents is collected and systematized in accounting registers. Forms of registers have an approved form.
Periodically, an inventory of the assets and liabilities of the enterprise (property and liabilities) is carried out without fail. The frequency of the inventory is approved by the head of the organization.
For the competent organization of accounting at the enterprise, an accounting policy is developed and an appropriate order of the head is drawn up.

These basic principles of accounting are fundamental, it is on them that accounting is kept at the enterprise. By following these accounting rules, you can be sure of the competent organization of accounting in accounting.

How is the accounting in the company?

All accounting is built on a very important principle - its continuity.

Every day, an accountant or other employee responsible for accounting records business transactions. Day after day, he reflects transactions using postings, generates documents, fills in accounting registers. It is important to understand that this process is continuous, starting from the moment the company was opened and until the end of its existence, the accountant must keep records, fill out and submit accounting and tax reports.

At the initial stage of the formation of the company, he develops a working chart of accounts; for this, the necessary accounts are selected from the Chart of Accounts approved by the Ministry of Finance of the Russian Federation, on which all transactions will be recorded. Depending on the size of the organization, as well as on the characteristics of its activities, the set of accounts may vary.

Also, when opening an enterprise, an accounting policy is approved, on the basis of which accounting will be kept.

Further, many operations will be performed at the enterprise every day: purchase of materials, fixed assets, sale of goods, production of products, payment for goods to the supplier and receipt of payment from the buyer, etc. For each such operation, the accountant fills in the relevant primary documents, on the basis of which he makes the posting on the accounts from the approved plan.

At the end of each month, monthly turnover and the closing balance are calculated on each account. At the beginning of the next month, all accounts are reopened, the closing balance from the previous one is transferred to the next month.

During the month, every day, all business transactions are recorded on open accounts using postings, at the end of the month the accounts are closed again, balances are calculated on them and transferred to the next month.

This process is endless, from month to month the same actions will be performed. This will be the fundamental principle of continuity in accounting.

In order to properly organize accounting in accounting, you need to be able to do three things:

know your working chart of accounts
know how to wire
be able to draw up documents and fill out accounting registers

A little about the Accounting Law (No. 402-FZ)

In November 2011, the Plan for the Development of Accounting and Reporting of Enterprises in the Russian Federation was approved. Its goal was to achieve greater accessibility of information in the field of accounting, improve the quality of reporting and bring it to international standards. The most important step in the implementation of this plan was the adoption of Federal Law No. 402-FZ "On Accounting", which came into force on January 1, 2013.

The new legal act replaced the previously existing Law No. 129-FZ. In general, the document introduces detailed clarifications to the rules of accounting and financial reporting, clarifications are given to many concepts, and some provisions of the old version have been completely changed. Thus, the scope of application of the Accounting Law was expanded. Now entrepreneurs, private practice lawyers and notaries (except for those who pay taxes under the simplified scheme) must keep records. Bodies of state and local self-government, various foundations and branches of international organizations are also required to keep accounting records. Another innovation is related to the definition of accounting objects. Now they are also called assets, as well as income and expenses of the enterprise.

The federal law "on accounting" consists of four main sections. Let's take a quick look at each, and also highlight the main changes compared to the old edition.

Structure of the Accounting Law

Here it is determined that the main purpose of the Law is to establish uniform requirements for accounting. The definition of accounting is given as a system for generating information about economic objects, taking into account the requirements and the creation of financial statements based on this information. Article 2 describes the scope of this Federal Law. As already mentioned, it has been expanded, and now everyone to whom the Federal Law on Accounting applies is not called "organizations", but "economic entities".

2. General requirements for accounting.

This chapter describes in detail the procedure and rules for accounting. The duty of the head of the enterprise to properly organize this work is noted. An important innovation is the ban on the head of the enterprise to personally conduct accounting. This provision does not apply to small and medium-sized businesses. In all other enterprises, there must be a staff unit of the chief accountant or there must be an agreement for the provision of relevant services. This lists the minimum requirements for applying for this position.

Article 8 emphasizes that each economic entity can choose its own accounting policy.

Article 9 regulates the execution of primary documents. Instead of the previously used unified forms, primary forms are introduced, approved by the head of the enterprise. This is a mandatory list of items. This article also talks about the possibility of creating documents in digital form, certified by an electronic digital signature.

Article 10 deals with the maintenance of accounting registers. It also expanded the powers of the head in terms of approving the forms of documents. In addition, these documents no longer constitute a trade secret.

Articles 13-18 regulate the creation of financial statements as a source of reliable data on the position of the subject, the result of his work, the movement of financial assets for the reporting period. Here, a requirement appeared to submit one copy of the financial statements to the statistical authorities within a period of not more than three months from the end of the period. Reporting documents are also prohibited from being given the status of a trade secret. The 402nd federal law on accounting, unlike the previous one, does not regulate the methods for providing financial statements to users.

3. Accounting regulation.

This chapter talks about regulatory documents in the field of accounting, bodies authorized to carry out regulation and their functions. Law No. 402-FZ introduces a number of fundamentally new provisions in this part.

A requirement is being introduced for compliance of financial statements with federal and industry standards, as well as compliance with accepted international requirements. Such standards establish the classification of accounting objects, the content and form of the information provided, and other provisions. The standards will be developed by the Ministry of Finance, the Central Bank, as well as subjects of non-state regulation: unions of entrepreneurs, auditors and other interested organizations.

Articles 26-28 deal with the procedure for creating accounting standards. At the same time, the great importance of publishing drafts of such documents in print media and the Internet for the purpose of their public discussion is pointed out.

4. Conclusion.

The final chapter deals with the procedure for storing accounting documents and the specifics of the application of the Law. Storage of accounting documents should take place in accordance with the rules of archiving. In this case, the storage period cannot be less than five years.

Summing up, we can say that Federal Law No. 402-FZ, making accounting more open and democratic, requires compliance with uniform standards in this work.

Primary accounting documents - getting to know each other

All business transactions that occur daily at the enterprise must be documented. The purchase of materials, goods, fixed assets, the sale and shipment of goods to the buyer, all movements of funds, the production process, the payment of wages and the transfer of taxes - all these and many other operations are displayed in primary accounting documents.

The paper in question is a written evidence of the business processes that have taken place, which has legally approved force and does not require any further clarifications and amendments.

Uniform forms

Primary accounting documents can have a standard form, for which the State Statistics Committee develops and approves unified forms of primary documents, which are contained in albums of unified forms of production documentation.

In accordance with the affixing of the Government of the Russian Federation No. 835 of 07/08/1997, all powers on the design development and approval of albums of unified forms and their digital versions were transferred to the State Statistics Committee of the Russian Federation. All the details of the content and regulatory composition of the albums must be agreed by a special committee with the Ministry of Finance and the Ministry of Economy of the Russian Federation.

If the standard form of primary accounting documents has not been developed, then the organization independently prepares for itself the necessary forms that it will use in its activities. At the same time, self-developed forms must contain the required details of the primary documentation.

The list of required details in the primary accounting documents:

Name that fully reflects the financial and economic content of the production process. A document that has an incorrect, poorly readable or unclear title has no legal force.
Name, in correct cases, addresses and settlement accounts in banking institutions of the parties entering into the agreement (legal entities and individuals). In the absence of the necessary requirements, the document automatically loses its targeting and cannot be used in any operations.
Compilation date. If the date is missing or not clearly described, the agreement has no legal effect.
The general content of the operation carried out, which reveals the essence of the name in a general form and contains a brief description of the production moments.
Measures of the perfect business transaction. In their absence, the form remains without an accounting and calculation base, without which the further operation of the agreement is not carried out.
Signatures of persons (legal and natural) responsible for the agreement. They are the director of a particular organization and the chief accountant.

Processing of primary documents

Upon receipt of the accounting document, it is necessary to check its correct execution, the presence of all required details. All required lines must be filled in, the information must be readable, the signatures of responsible persons must be signed, if necessary, a seal is put. When processing accounting papers, you need to pay attention to the seal, the information on it should be clearly readable, you can see the name, details, etc.

After the document is checked for correct execution, it must be registered in the book intended for this, the journal. For example, travel certificates are registered in the journal of travel certificates, cash orders in the journal of registration of incoming and outgoing cash orders KO-3.

Storage and destruction

The terms of storage of primary accounting documentation and the procedure for their destruction are fully specified in List No. 41.

How to fix

Nobody is immune from mistakes. What to do if errors are made in primary documents? If errors are detected at the design stage, then everything is simple, you can just take a new form and fill it out again. And how to correct an error in the document if it is revealed later?

In general, there are three ways to correct errors in primary accounting documents:

Corrective method, which is allowed to be used only if errors were detected before the balance sheet was drawn up, or if they were made in accounting registers, errors should not affect the correspondence of accounts. The essence of this method is to carefully cross out with a thin line the erroneous value of the amount, the wrong word, etc. The required text or number is written next to or above. In addition, it is necessary to write a disclaimer next to the error, with the appropriate date and the signature of the responsible person. For example, “1000 rubles crossed out, corrected for 1200, corrected to believe, date, signature”
The method of additional entries is made when the amount of a business transaction is erroneously underestimated. This rule takes place in two cases: if the accounting register does not contain the necessary data of the primary document, and also when an erroneously underestimated amount is displayed in the register.
The reversal method consists in the fact that an incorrectly made entry, usually numeric, is deleted with a negative value of the erroneous amount. In this case, incorrect correspondence and the value of the amount are repeated in red ink. At the same time, the required number is written in ordinary ink. This method is used in case of errors made in correspondence or in case of exaggeration of the amount.

The right to sign primary documents

In accordance with the legislation of the Russian Federation, the director of the organization and the chief accountant can sign primary accounting papers. Also, primary accounting documents have the right to sign the deputy chief accountant, but in this case, all responsibility for the agreement being drawn up passes to him. The right to sign by another employee, except for the head and chief accountant, must be formalized using a power of attorney for the right to sign.

Summarizing the above, we can say that primary documents are one of the important components of the correct organization of accounting in an enterprise. Moreover, only if they are available, it is possible to keep accounting, it is on the basis of documents that accounting entries are made. Therefore, it is very important to correctly fill out the forms and forms, check the correctness of the execution when receiving them from counterparties.

Deal with the assets and liabilities of the company

In accounting, there are special concepts of "assets" and "liabilities". Both are an important component of the balance sheet and represent the most convenient way to summarize information about the activities and financial position of the organization.

Everything that an enterprise has is divided into profitable assets and liabilities involved in the formation of the former. It is important to learn to distinguish between them, to understand what this or that object of the enterprise is.

Asset and liability balance

The concepts under consideration are the main components of the balance sheet - the main report, which is drawn up in the accounting process at the enterprise. The balance sheet is shown as a table with assets on the left and liabilities on the right. The sum of all positions on the left side is equal to the sum of all positions on the right side. That is, the left side of the balance is always equal to its right side.

The equality of assets and liabilities in the balance sheet is an important rule that must be followed at any time.

If, when compiling the balance sheet, equality is not fulfilled, it means that an error has been made in accounting that needs to be found.

In order to correctly draw up a balance sheet, you need to understand what relates to assets and what to liabilities.

Assets as an element of accounting

These are the resources of the organization that it uses in the course of economic activity, the use of which in the future implies profit.

Assets always display the value of all tangible, intangible and monetary assets of the company, as well as property powers, their maintenance, placement and investment.

Examples of enterprise assets:

fixed assets
Securities
Raw materials, materials, semi-finished products
Products
Finished products

All this property that the enterprise will use in the course of its functioning in order to obtain economic profit.

Asset classification

According to the form of the functional composition, they are divided into material, intangible and financial.

Material - they call objects that are in material form (they can be touched and felt). These include buildings and structures of the company, technical equipment and materials.
By intangible it is customary to mean that part of the production of an enterprise that does not have a material embodiment. This may be a trademark or a patent, which also take part in the organization's office work.
Financial - imply various financial instruments of the company, whether it be cash accounts in any currency, receivables or other economic investments with different terms.

According to the nature of participation in the production activities of the enterprise, the assets are divided into current (current) and non-current.

Negotiable - used to complete the company's operating processes and are fully spent in one full production cycle (no more than 1 year)
Non-negotiable - they take part in office work repeatedly, and are used exactly until the moment when all resources do not go into the form of products

According to the type of capital used, assets are:

Gross, that is, formed on the basis of own and borrowed capital.
Net, which implies the formation of assets only at the expense of the company's own capital.

According to the right of ownership of assets, they are divided into leased and own.

They are also classified by liquidity, that is, the speed of their transformation into a financial equivalent. In accordance with such a system, among the resources are:

Assets with absolute liquidity
With high liquidity
Medium liquid
Slightly liquid
Illiquid

Long-term assets include land plots, various types of transport, technical equipment, inventory of household and industrial type, and other belongings of the company. Assets of this type are carried at their acquisition cost less accrued depreciation or, in the case of land and buildings, at a price determined by a professional expert.

Liabilities of the enterprise and their participation in production activities

Under the liabilities of the enterprise, we mean the obligations that the company has assumed, and its sources of financing (include own and borrowed capital, as well as funds attracted to the organization for some reason).

Own capital of an enterprise in any form of ownership, except for the state, contains in its structure the statutory fund, shares, shares in various business companies and partnerships, proceeds from the sale of company shares (primary and additional), accumulated reserves, public finances in the organization.

For state-owned enterprises, the structure includes public financial resources and deferred deductions from revenue.

Borrowed capital

The structure of funds taken under a loan consists of capitals for which this or that property is pledged, regardless of whether a mortgage is issued or not, loans received from banking institutions, bills of various types.

Summarize.

What are the assets of the company:

Fixed and production assets
Movable and immovable property
Cash
Inventory
Securities
Accounts receivable

What are the liabilities of the company:

Authorized capital
Credits and loans from other individuals and legal entities
Undestributed profits
reserves
taxes
Accounts payable

The difference between a liability and an asset

The difference is their different functions; each of these elements of the balance sheet illuminates its side of office work. However, they are closely interconnected.

With an increase in the asset, the liability necessarily increases by the same amount, that is, the debt obligation of the enterprise increases. The same principle also applies to liabilities.

For example, if a new loan agreement is concluded with a bank, assets automatically increase, as new finances enter the organization, along with this, the enterprise has a liability - a debt to the bank. At the moment when the organization repays this loan, there will be a decrease in assets, since the amount of money in the company's account will decrease, along with this, the liability will also decrease, since the debt to the bank will disappear.

It is from this principle that the equality of liabilities and assets of the enterprise follows. Any change in the former entails a change in the latter by the same amount and vice versa.

Getting to know accounts

What are accounting accounts? In accounting, this concept comes up all the time. And this is not surprising, because this is the basic concept of accounting, it is on the accounts that all business transactions occurring at the enterprise are recorded.

An account is displayed as a two-sided table, the left side is called debit, the right side is called credit. Each separate account is used to account for certain business transactions, which are grouped according to homogeneous characteristics. For example, accounting for materials occurs on the account. 10 "Materials", accounting of fixed assets - 01 "Fixed assets", accrual and payment of wages to employees - 70 "Settlements with personnel for wages".

In total there are 99 accounts, their list is given in a special book called the Chart of Accounts. An organization may not use all of them. In the process of forming an accounting policy, it is determined which accounts will be needed to account for transactions occurring at this enterprise. Further, they are selected from the standard Plan, their list is approved in the order on accounting policy. Thus, the organization forms its own working chart of accounts - that is, a list that will be used in accounting, taking into account the specifics of the organization's activities.

Each enterprise develops its own work plan, fixing it in the accounting policy.

What is a Chart of Accounts

This is a list of all available accounting accounts. This document is being developed by the Ministry of Finance of the Russian Federation.

All accounts in a single Plan are divided into sections. For each, sub-accounts are indicated for it and brief information about what it is intended for, what operations are taken into account on it.

Each account in the standard Plan is assigned a two-digit code and name. For example, accounting for cash is kept on the account. 50 Cashier.

In addition, the standard Plan also contains the so-called off-balance accounts, which are designed to account for property that does not belong to this enterprise. They are assigned three-digit code designations. For example, accounting for fixed assets leased is kept on an off-balance sheet account. 001 "Leased fixed assets".

Structure of the Plan

In total, there are 8 sections in a single Plan. The first 5 sections are accounts on which property, finished products, goods, materials, and the production process are recorded. For example:

Section 1 - non-current assets - a list of accounts associated with non-current assets (01 "Fixed assets", 02 "Depreciation", 04 "Intangible assets", etc.) is given.
Section 2 - production stocks - a list of accounts intended for accounting for the production process (20 "Main production", 23 "Auxiliary production", etc.).

Section 6 provides accounting accounts that keep records of the obligations of the enterprise.

In sections 7 and 8 - on which capital and financial results are kept.

How is bookkeeping done with invoices?

Accounting information is presented in monetary terms.

When any operation is performed, a primary accounting document is necessarily drawn up, on the basis of which this operation is recorded on the accounts.

This entry is carried out according to the principle of double entry and is called an accounting entry. In short, when any operation is performed, the amount of the operation is recorded simultaneously on the debit of one account and on the credit of another, this will be the posting.

For example, the cash desk of the enterprise received money from the buyer. The accountant must issue a primary document cash receipt order, which indicates the amount of cash receipts at the cash desk. Based on this order, a posting will be made to the account. 50 "Cashier" and 62 "Settlements with buyers" - the amount received must be simultaneously recorded on debit 50 and credit 62.

Each business transaction is subject to mandatory recording on the accounts of accounting, on the debit of one and on the credit of the other.

For a month, every day, the accountant takes into account all transactions using postings.

At the end of the month, the debit turnover and the credit turnover are calculated for each account.

The initial debit balance, if any, is added to the debit turnover for the month (SND). The amount of credit turnover for the month and the opening balance of the loan, if any, are subtracted from the obtained value (Snk)).

Formula for calculation:

Sk \u003d (Snd + Od) - (Snk + Ok)

If the resulting balance is positive, then we have a debit ending balance of the account; if negative, we have a credit.

At the beginning of the next month, each account is reopened, the closing balance from the previous month is transferred to the current one, the debit end balance is transferred to debit, and the credit end balance is transferred to credit. It will be the opening balance.

This process is continuous, this is the main principle of the organization of accounting in the enterprise - the continuity of accounting.

Thus, accounting accounts are the main tool used in the accounting process.

An example of accounting for transactions on an account

Let's take c. 10 "Materials". At the beginning of the month (February), the enterprise has materials in the amount of 100,000 rubles in its warehouses. During February, the company purchased more materials in the amount of 20,000 and 30,000. In February, materials in the amount of 70,000 were released into production. ten?

sch. 10 - active, which means that it takes into account the assets of the enterprise (materials). All receipts are reflected in the debit, disposals (release to production) - in the credit.

February:

At the beginning of February, we have materials in the amount of 100,000 - this will be the initial debit balance (Snd = 100,000).
During February, materials were received for 20,000 and 30,000. These amounts should be debited to account 10.
Released for production of materials for 70,000, we put this amount on credit account 10.

February is over, close account 10:

Calculate the debit turnover and the credit turnover:

Od \u003d 20000 + 30000 \u003d 50000
OK = 70000

Calculate the closing balance:

Sk \u003d Snd + Od - Ok \u003d 100000 + 50000 - 70000 \u003d 80000.

March:

We transfer the closing balance from February to March. We enter in the debit account 10 the debit balance Sk = 80000, this will be the initial debit balance for the current March.
We fix all current operations on the receipt of materials and their release into production.
We close account 10 at the end of the month (we count the turnover and the final balance)

April:

We transfer the closing balance from the previous month to the current one.
etc.

The process continues ad infinitum.

Types of accounting accounts, description and application

Let's look at the types of accounting accounts. Let's get acquainted with active, passive and active-passive accounts, as well as synthetic and analytical.

According to the type of relationship with the economic balance, accounting accounts are divided into active and passive, as well as active-passive. Let's consider these types in more detail, since they are the main elements in the classification of the financial balance.

The concept of an active accounting account

Required to display all processes directly related to the presence and use of the company's property values. This implies the reflection of not only property in material form, but also the intangible values of the company (trademarks, patents, etc.). In this case, the active account number can tell with approximate accuracy what kind of property is in the possession of the owner of the organization - the owner of the financial balance.

In simpler terms, active accounts keep records of the assets of the enterprise. In order to understand whether an account is active or not, you need to know their distinguishing features:

Opening balance is always debit
The closing balance is also debit
A debit reflects an increase in an asset, a credit a decrease.

Examples:

Active accounts include - 50 "Cashier", 10 "Materials", 01 "Fixed assets", 04 "Intangible assets", etc.

Take, for example, c. 10 "Materials", for it all three signs indicated above are fulfilled. It keeps records of assets - materials. Upon receipt of materials (increase in asset), a debit entry is made, upon disposal (decrease in asset), a credit entry is made. The balance is always debit, because it is not possible to release more materials into production than are in stock. This means that the debit will always be greater than the credit. That is, c. 10 - active in all respects.

The concept of a passive account in accounting

Aimed at accounting and control of information about all sources of financing of the enterprise, which are divided into own and borrowed (borrowed). The company's equity capital contains in its structure all the profit that the organization received without financial assistance from outside. Sources attracted consist of all loans and credits involved in the business of the company, which the company has issued.

Thus, passive accounts keep records of the company's liabilities. Passives are characterized by:

Credit opening balance;
Credit ending balance;
An increase in liability is shown as a credit and a decrease as a debit.

Examples passive accounts:

80 "Authorized capital", 83 "Additional capital", 66 "Settlements on short-term credits and loans", 67 "Settlements on long-term credits and loans", etc.

Take, for example, c. 67, it is designed to account for loans issued to an enterprise for a period of more than 1 year, that is, it keeps records of liabilities.

The appearance of a loan (increase in liability) is reflected in the credit account 67, its payment (decrease in liability) - in debit. The balance will be in credit until the loan is repaid and the account is closed.

Active-passive accounts

Usually you can immediately identify by the names of accounting documentation. As a rule, with this type of accounting accounts, the name of the document begins with the word "calculation" (for example, "calculations with personnel", "calculations with the budget", etc.). They also serve to display all settlements with different types of counterparties (active and passive), to report information about receivables and payables, to control the results of the enterprise's office work, its profit or loss.

That is, active-passive accounts take into account both assets and liabilities of the enterprise. They are characterized by features of both active and passive accounts of accounting.

Examples active-passive:

60 “Settlements with suppliers”, 62 “Settlements with buyers”, 76 “Settlements with various debtors and creditors”, 90 “Sales”, 91 “Other income and expenses”, 99 “Profit and loss”, etc.

Example - is account 62 active or passive?

When the goods are sold to the buyer, the buyer's receivables arise before the organization, which is an asset, we reflect its appearance on the debit of account 62, when the buyer repays the debt, we will credit the repayment amount to account 62. We see that the appearance of an asset is reflected in the debit, and its decrease in the loan, it turns out that for the account. 62, the signs of active accounts are fulfilled.

Let's take another situation, the buyer transfers the advance payment to the organization until the organization ships the goods against this payment, it will be creditor debt to the buyer. The appearance of this debt (that is, the receipt of an advance) we will reflect on the loan account. 62. At the time of shipment to the buyer of the goods, the accounts payable will decrease, while a debit entry will be made 62. That is, we will reflect the appearance of a liability (debt) on a loan, and its decrease on a debit. It turns out that account 62 obeys the rules characteristic of passive accounts.

Based on this, we can conclude that account 62 is active-passive, since it is characterized by the features of both active and passive accounts, it keeps records of both assets and liabilities.

Synthetic and analytical

According to the degree to which all accounting information is detailed, they are divided into synthetic and analytical.

Synthetic accounting accounts imply a generalized description of the data, in which all information is presented concisely and without clarification. To enter any additional information into the document, sub-accounts are used. A sub-account is a component of a synthetic account. The account is kept in monetary terms.

For the highest level of detail, use analytical accounts in which the required data is displayed in detail, including all the necessary elements and nuances. On analytical accounts, accounting can be kept in other equivalents: in kilograms, meters, liters, pieces, etc., as it is convenient for an accountant.

For example, an organization has 41, which takes into account goods (various types of cereals) in a generalized form in rubles. To synthetic SC. 41 analytical accounts “Millet groats”, “Semolina groats”, etc. are opened for convenience, on which records are kept in kilograms.

What other types of accounts are there?

In accordance with the economic content, they are divided into accounts of assets, sources of formation of assets and business transactions. They display all types of active funds, as well as those capitals that are intended for subsequent sale. Accounts showing sources of asset formation, contain information about all the ways in which funds come from, including own income and borrowed capital. The business accounts include in their structure all data on the financial profit of the enterprise, as well as information on the expenses of the enterprise for various purposes.

According to the sequence of indications in the accounts, the accounts are divided into nominal and off-balance sheet.

According to their purpose and structure, they can be basic, regulatory, budgetary and distributive, operational, financially effective, etc.

Features of the use of off-balance accounts

Often, in the process of work, enterprises have to perform operations to record the movement and storage of property that does not belong to them. In addition, it is necessary to keep records of transactions related to the fulfillment of requirements and obligations to partners. For these purposes, off-balance (off-balance) accounts are used.

Off-balance accounts are designed to record and enter information about material values that do not belong to an economic entity and are temporarily at its disposal. Off-balance accounts are also used to control certain types of financial transactions. Their name emphasizes that they are out of balance and are not taken into account in it.

The need for separate accounting of values that do not belong to an economic entity is explained by the fact that only own funds and the sources that form them should be taken into account in the main balance sheet. If the company's balance sheet also reflects values that do not belong to it, then it turns out that they are taken into account twice: with the owner and with the temporary owner. This will be contrary to the law and distort the real financial situation of enterprises.

The main purpose of off-balance sheet accounts

control of the use and safety of material assets that are at the enterprise on a leasehold, safekeeping, transferred for installation, processing and other similar purposes
accounting for conditional rights or obligations of a business entity
control of relevant types of business transactions
providing comprehensive information on funds that are out of balance for management purposes, as well as the possibility of assessing the position of the enterprise in financial terms.

The off-balance sheet account has a traditional, albeit slightly simplified, structure. It reflects the opening balance, the receipt and write-off of material assets during the month, the final balance.

Types of off-balance accounts

In accordance with the Chart of Accounts, approved by Order of the Ministry of Finance of October 31, 2000 N 94n (as amended on November 8, 2010), several main types of off-balance accounts are used for organizations and enterprises of the Russian Federation, which are listed below.

Off-balance accounts include:

001 "Leased fixed assets". Required to enter information about leased fixed assets. Such funds are accounted for in accordance with the valuation adopted in existing lease agreements.

002 "Commodity and material assets accepted for safekeeping". This off-balance account is used to enter information about material assets for which, for one reason or another, payment has not been made, or temporarily accepted on the balance sheet.

003 "Materials accepted for processing". It is intended to display the availability and movement of raw materials or materials taken for processing and not paid by the manufacturer. Accounting is carried out in the prices reflected in the relevant contracts.

004 "Goods accepted for commission". It is used by organizations that accept goods for commission in accordance with the contract. Accounting is kept in prices determined by acceptance certificates.

005 "Equipment accepted for installation". The off-balance account is used by contractors to reflect information about all types of installation equipment that was provided by the customer.

006 "Forms of strict reporting". Displays available and issued under the report forms for certificates, diplomas, subscriptions, tickets, receipts and other similar reporting forms. The account is kept in conditional prices. Each form type is counted separately.

007 "Debt written off at a loss of insolvent debtors." Here you can find information about the written-off debts. Such accounts are maintained five years after the debts have been written off, in order to control the possibility of recovery when the solvency of borrowers changes.

008 "Securities for obligations and payments received". Contains information on the availability and movement of funds received as guarantees for securing obligations, as well as guarantees that were received for goods transferred to other organizations. The amount of the guarantee for accounting is determined by the terms of the contract.

009 "Securities for obligations and payments issued". Reflects funds issued as guarantees to secure obligations.

010 "Depreciation of fixed assets". This off-balance sheet account is intended to summarize data on the movement of amounts reflecting the depreciation of housing stock, landscaping, road facilities and the like, as well as fixed assets (in the case of non-profit organizations). Depreciation is charged at the end of the year at the rate of depreciation.

011 "Fixed assets leased out". Serves to display data on objects classified as fixed assets and leased. It is used in cases where, under the terms of the contract, the property must be reflected on the balance sheet of the tenant. Accounting is carried out in the prices appearing in the lease agreement.

In addition to those listed, the list of off-balance accounts can be supplemented by the organization itself, in accordance with the specifics of its activities. This should be reflected in the accounting policy.

For some types of economic entities, slightly different off-balance sheet accounts are used. Thus, the Order of the Ministry of Finance of the Russian Federation No. 157n defines the chart of accounts for state and local authorities, extra-budgetary funds, scientific and educational institutions, and government agencies. This plan specifies twenty-six types of off-balance accounts that can be used by these organizations as needed.

Learning how to write accounting entries

In each enterprise, in the process of activity, there are many business transactions that must be taken into account in accounting. For their accounting, there are accounting accounts. Accounting for transactions in accounting accounts occurs using posting. What is this - wiring? How to make accounting entries? What is the principle of double entry in accounting?

The essence of double entry

At the time of any operation, there is a change in the funds and sources of the enterprise, the accounting of which takes place in the accounting accounts. Each transaction affects two accounts, the amount of the transaction is simultaneously reflected in the debit of one and the credit of the other. This is the double entry method.

Example:

Let us explain the principle of double entry with a simple example. Take any operation, for example, the receipt of cash from the buyer to the cashier. In this case, there is a simultaneous increase in cash on hand and a decrease in the buyer's debt. Accounting for cash is kept on the account. 50 "Cashier", all settlements with buyers are reflected in the account. 62.

According to the principle of double entry, we must reflect this event on two accounts: 50 “Cashier” and 62 “Settlements with buyers”. The amount of cash received must be reflected in the debit of one and the credit of the other.

Cash is an asset of the enterprise, the increase in the asset is reflected in the debit of the account, that is, the amount received must be reflected in the debit of the account. fifty.

The buyer's debt is also an asset, the decrease in debt is reflected in the credit account. 62.

That is, a business transaction - the receipt of cash from the buyer in the accounting department is reflected using a simultaneous double entry on debit 50 and credit 62. The entry is made for the same amount in the amount of cash received.

The concept of accounting entry

A double entry in accounting is a posting, or rather an indication of the accounts, on the debit and credit of which an entry was made for the amount of the operation.

Take the example above, we made a simultaneous entry for debit 50 and credit 62, a record of the form Debit 50 Credit 62 will be a posting. For convenience, it is reduced to the form D50 K62.

Two accounts that participate in the accounting entry are called offsetting. And the very relationship between these accounts is called the correspondence accounts of accounting.

Examples:

Here are some more examples of accounting entries:

D10 K60 - materials from the supplier are accepted for accounting.

D70 K50 - wages paid to the employee.

D71 K50 - cash was issued against the report to the employee.

D20 K10 - materials released into production.

How to wire - three easy steps

Every day, the company performs a lot of business transactions, for each of which the relevant primary documents are drawn up. Based on these documents, the posting will already be made. In order to correctly account for the amount of the operation, you need to be able to correctly draw up transactions.

For a novice accountant, compiling accounting entries often causes a lot of difficulties and in vain. Compiling wiring is quite simple, how to do the wiring correctly?

You need to follow three simple steps:

Step 1 - Determine which accounting accounts are involved in the operation, for this, a working chart of accounts is taken and suitable accounts are selected from it
Step 2 - Determine which account the transaction amount should be debited and which should be credited
Step 3 - Perform simultaneous double entry on these accounts

Let's look at these steps with an example.

An example of compiling accounting entries

So, some event happened at the enterprise, let's say, goods arrived from the buyer. How to wire?

We analyze the operation - the goods arrived from the buyer, which means that there are more goods in the warehouses, while the organization began to accrue a debt to the supplier. Moreover, the amount of the debt is equal to the value of the delivered goods.

Step 1- You need to select 2 accounts that participate here:
- the goods are taken into account on the account. 41 "Goods";
- all relationships with suppliers are conducted on the account. 60 "Settlements with suppliers".
Thus, the transaction amount must be reflected in two accounts: 41 and 60.
Step 2- The product is an asset of the enterprise. The receipt of goods is an increase in the asset. On the active account 41 the increase in the asset is reflected in the debit.
The debt to the supplier is an accounts payable (liability), the appearance of debt means an increase in liabilities. On the active-passive account 60, the increase in liabilities will be reflected in the loan.
Step 3- We carry out the posting according to the double entry principle - we enter the amount in debit 41 and credit 60 - we get a posting of the type D41 K60.

The concept of enterprise accounting policy

Organizations, enterprises and other economic entities differ in their form of ownership, asset structure, number of employees and other characteristics. In such a situation, it is impossible to apply strict uniform standards for the organization of accounting to all participants in economic activity. Therefore, it became necessary to differentiate the methods of conducting accounting activities for different types of enterprises. Hence the concept of the accounting policy of an economic entity appeared.

Accounting policy is a set of ways to organize accounting by an economic entity. In other words, federal standards allow various types of forms of accounting documents and organization of accounting, from which each entity chooses the methods most suitable for its activities. These methods include various options for grouping and evaluating the activities of an enterprise, paying off the value of its assets, ensuring the circulation of documents, conducting an inventory, using accounts, accounting registers, and others.

The accounting policy is approved by order of the head, which can be drawn up according to the following model:

Who forms the accounting policy of the organization

The accounting policy of the enterprise is regulated by Federal Law No. 402-FZ of December 6, 2011 (Article 8), as amended on July 18, 2017, and the Accounting Regulations "Accounting Policy of the Organization" (PBU 1/2008). In accordance with these regulations, the accounting policy must be developed by the chief accountant (or other person authorized to keep accounting records) and approved by its head.

Law No. 402-FZ cancels the previously used standard forms of primary documentation, now such documentation is also approved by the head of the enterprise. Here is a list of required items. Paragraph 4 of Article 8 clarifies that in the absence of accounting methods adopted by federal standards for a particular type of object, the latter can independently develop such methods, in accordance with the requirements of the legislation and existing standards.

Development of an enterprise accounting policy

Regulation PBU 1/2008 explains the organization of accounting policies in more detail. Thus, paragraph 5 introduces the implied assumptions:

assets and liabilities of the enterprise are separated from the assets and liabilities of its owners (and assets of other organizations)
the organization will carry out continuous activities in the long term and the fulfillment of its obligations will be guaranteed
a consistent annual accounting policy will be ensured
the facts of the economic activity of the organization correspond to the reporting period in which they occurred, regardless of the time of receipt of funds.

Paragraph 6 of PBU specifies the general principles of accounting policy, which should ensure:

complex display of all facts of economic activity
timely entry of these facts into accounting documents
priority of recognition of all expenses and liabilities over possible income and value of assets
priority of the economic component of economic activity over its legal form
compliance of the results of analytical accounting with the accounts of synthetic accounting on the last day of the period
rationality of accounting in accordance with the type of activity and the size of the organization.

Clause 4 of the Regulation introduces the main sections of the accounting policy that make up the structure of accounting activities. The head of the organization must approve:

accounting chart (synthetic and analytical accounts).
forms of primary documentation, accounting registers and internal reporting
methodology for inventorying the assets and liabilities of an organization
options for valuing these assets and liabilities
order of document circulation and information processing
methods of control of economic activity
other documents regulating accounting at a particular enterprise.

The third section of the Regulations PBU 1/2008 is devoted to change in accounting policy. It is valid in three cases:

changes in federal legislation and regulations on accounting
development by the organization of better and more efficient ways of keeping records
significant reorganization, changes in the scope of the enterprise.

The introduction of a new accounting policy must be carried out, mainly from the beginning of the reporting period. Mandatory approval of the new accounting structure by the relevant orders of the head of the enterprise. The possible financial consequences of such a change should be reflected in the financial statements.

The leaders of many organizations underestimate the importance of the relationship of accounting policies with the results of the enterprise. The correct accounting policy has a positive impact on the cost of products, gross profit, and other indicators of the financial position of the organization. In the absence of an effective accounting policy, it is impossible to make a comparative analysis of the activities of an enterprise in different periods, as well as to compare the results obtained with those of other similar enterprises.

Download Sample

Accounting policy for 2017 sample free download for OSNO - link.

Small business entities

Organizations and individual entrepreneurs can be classified as small businesses if they meet the criteria established by Article 4 of Federal Law No. 209-FZ of July 24, 2007. In this article, first of all, it is said that commercial organizations, individual entrepreneurs, farms and consumer cooperatives can be classified as small enterprises if they meet the criteria established by this article.

On June 30, 2015, Federal Law No. 156-FZ of June 29, 2015 came into force, which introduced some changes to the criteria for determining a small business entity. The current criteria, as well as the changes introduced by the new law, will be discussed below.

Small businesses can maintain simplified accounting, submit simplified financial statements, apply a simplified procedure for cash discipline.

Criteria for small businesses in 2015

Criterion 1 - Average number of employees

Enterprises does not exceed 15 people, then the enterprise belongs to micro-enterprises (a kind of small business entities).

If the average number of employees does not exceed 100 people, then the organization or individual entrepreneur can be attributed to small enterprises.

If the average number of employees over 100, but not more than 250 people, then the enterprise belongs to medium-sized enterprises.

The average number is taken over the past calendar year.

2015 change: according to the new law, an enterprise can be classified as a small business if this condition is met for three years in a row (previously it was enough for 2 years). An organization or individual entrepreneur will cease to be small if the average number exceeds 100 people for 3 years in a row.

Criterion 2 - Revenue from the sale of goods or services

There is a marginal value of proceeds from the sale of goods and services, which distinguishes between small and medium-sized enterprises.

If the revenue for the calendar year, excluding value added tax does not exceed 60 million rubles., an enterprise is considered a micro-enterprise.

If the revenue does not exceed 400 million rubles. per year, then it is a small business.

If revenue does not exceed 1 billion rubles., then the company is considered medium.

The revenue limits are set by the Government of the Russian Federation.

2015 change: to classify an organization or individual entrepreneur as a small enterprise, it is necessary that this criterion be met for at least three consecutive years (previously it was 2 years). An organization or individual entrepreneur will be able to lose the status of a small enterprise only if the revenue exceeds the limit value for three consecutive years.

Criterion 3 - share of participation in the authorized capital

An organization or an individual entrepreneur can be classified as a small business if the authorized capital of the organization:

share of the state, constituent entities of the Russian Federation, MO, charitable and other foundations, public and religious organizations no more than 25%
share of other organizations that are not small, no more than 49%(previously it was 25%)
share of foreign organizations no more than 49%(previously it was 25%)

Based on materials: buhs0.ru

Article 1

1. The objectives of this Federal Law are to establish uniform requirements for accounting, including accounting (financial) reporting, as well as to create a legal mechanism for regulating accounting.

2. Accounting - the formation of documented systematized information about the objects provided for by this Federal Law, in accordance with the requirements established by this Federal Law, and the preparation of accounting (financial) statements on its basis.

Article 2. Scope of this Federal Law

1. This Federal Law applies to the following persons (hereinafter referred to as economic entities):

1) commercial and non-commercial organizations;

2) state bodies, local self-government bodies, management bodies of state extra-budgetary funds and territorial state extra-budgetary funds;

3) the Central Bank of the Russian Federation;

4) individual entrepreneurs, as well as lawyers who have established law offices, notaries and other persons engaged in private practice (hereinafter referred to as persons engaged in private practice);

5) branches, representative offices and other structural subdivisions of organizations established in accordance with the legislation of foreign states located on the territory of the Russian Federation, international organizations, their branches and representative offices located on the territory of the Russian Federation, unless otherwise provided by international treaties of the Russian Federation.

2. This Federal Law is applied when maintaining budgetary accounting of assets and liabilities of the Russian Federation, constituent entities of the Russian Federation and municipalities, operations that change these assets and liabilities, as well as when compiling budget reporting.

3. This Federal Law shall apply when a trustee maintains accounting records of the property transferred to him in trust management and related accounting objects, as well as when maintaining, including by one of the legal entities participating in a simple partnership agreement, accounting of the common property of comrades and associated accounting items.

4. This Federal Law shall apply in the course of accounting in the process of fulfilling a production sharing agreement, unless otherwise established by Federal Law No. 225-FZ of December 30, 1995 "On Production Sharing Agreements".

5. This Federal Law shall not apply when creating information necessary for the preparation by an economic entity of reports for internal purposes, reports submitted to a credit institution in accordance with its requirements, as well as reports for other purposes, if the legislation of the Russian Federation and the rules adopted in accordance with it the preparation of such reports does not provide for the application of this Federal Law.

Article 3. Basic concepts used in this Federal Law

For the purposes of this Federal Law, the following basic concepts are used:

1) accounting (financial) statements - information on the financial position of an economic entity as of the reporting date, the financial result of its activities and cash flows for the reporting period, systematized in accordance with the requirements established by this Federal Law;

2) authorized federal body - a federal executive body authorized by the Government of the Russian Federation to carry out the functions of developing state policy and legal regulation in the field of accounting and financial reporting;

3) accounting standard - a document that establishes the minimum necessary requirements for accounting, as well as acceptable methods of accounting;

4) international standard - an accounting standard, the application of which is a custom in international business turnover, regardless of the specific name of such a standard;

5) chart of accounts of accounting - a systematized list of accounts of accounting;

6) reporting period - the period for which accounting (financial) statements are prepared;

7) head of an economic entity - a person who is the sole executive body of an economic entity, or a person responsible for managing the affairs of an economic entity, or a manager to whom the functions of a sole executive body have been transferred;

8) the fact of economic life - a transaction, event, operation that have or are able to have an impact on the financial position of an economic entity, the financial result of its activities and (or) cash flow;

9) organizations of the public sector - state (municipal) institutions, state bodies, local governments, management bodies of state extra-budgetary funds, management bodies of territorial state extra-budgetary funds.

Article 4. Legislation of the Russian Federation on accounting

The legislation of the Russian Federation on accounting consists of this Federal Law, other federal laws and regulatory legal acts adopted in accordance with them.

Chapter 2. General requirements for accounting

Article 5. Objects of accounting

The objects of accounting of an economic entity are:

1) facts of economic life;

2) assets;

3) obligations;

4) sources of financing of its activities;

5) income;

6) expenses;

7) other objects if it is established by federal standards.

Article 6. Obligation to keep accounting records

1. An economic entity is obliged to keep accounting records in accordance with this Federal Law, unless otherwise established by this Federal Law.

2. Accounting in accordance with this Federal Law may not be kept:

1) an individual entrepreneur, a person engaged in private practice - if, in accordance with the legislation of the Russian Federation on taxes and fees, they keep records of income or income and expenses and (or) other objects of taxation or physical indicators characterizing a certain type of entrepreneurial activity ;

2) a branch, representative office or other structural subdivision of an organization established in accordance with the legislation of a foreign state located on the territory of the Russian Federation - if, in accordance with the legislation of the Russian Federation on taxes and fees, they keep records of income and expenses and (or) other objects of taxation in the manner prescribed by the said legislation.

3. Accounting is kept continuously from the date of state registration until the date of termination of activities as a result of reorganization or liquidation.

4. Simplified accounting methods, including simplified accounting (financial) statements, may be applied, unless otherwise provided by this article, to the following economic entities:

1) small businesses;

2) non-profit organizations;

3) organizations that have received the status of participants in the project for the implementation of research, development and commercialization of their results in accordance with the Federal Law of September 28, 2010 N 244-FZ "On the Skolkovo Innovation Center".

5. Simplified methods of accounting, including simplified accounting (financial) reporting, do not apply to the following economic entities:

1) organizations whose accounting (financial) statements are subject to mandatory audit in accordance with the legislation of the Russian Federation;

2) housing and housing-construction cooperatives;

3) credit consumer cooperatives (including agricultural credit consumer cooperatives);

4) microfinance organizations;

5) public sector organizations;

6) political parties, their regional branches or other structural subdivisions;

7) bar associations;

8) law firms;

9) legal advice;

10) bar associations;

11) notary chambers;

12) non-profit organizations included in the register of non-profit organizations performing the functions of a foreign agent provided for in Clause 10 of Article 13.1 of Federal Law No. 7-FZ of January 12, 1996 "On Non-Profit Organizations".

Article 7. Organization of accounting

1. Accounting and storage of accounting documents shall be organized by the head of an economic entity.

Note:
The provisions of part 4 of article 7 do not apply to persons who, as of the date of entry into force of this document, are entrusted with accounting (part 2 of article 30 of this document).

1) have higher education;

3) not have an unexpunged or outstanding conviction for crimes in the field of economics.

5. Additional requirements for the chief accountant or other official responsible for accounting may be established by other federal laws.

Note:

The provisions of part 6 of article 7 do not apply to persons who, as of the date of entry into force of this document, are entrusted with accounting (part 2 of article 30 of this document).

7. The chief accountant of a credit institution and the chief accountant of a non-credit financial institution must meet the requirements established by the Central Bank of the Russian Federation.

Article 8. Accounting policy

1. The totality of methods of conducting accounting by an economic entity constitutes its accounting policy.

2. An economic entity independently forms its accounting policy, guided by the legislation of the Russian Federation on accounting, federal and industry standards.

3. When forming an accounting policy in relation to a specific accounting object, a method of accounting is selected from the methods allowed by federal standards.

4. If federal standards do not establish a method of accounting for a specific accounting object, such a method is independently developed based on the requirements established by the legislation of the Russian Federation on accounting, federal and (or) industry standards.

5. Accounting policies must be applied consistently from year to year.

6. Changes in accounting policies may be made under the following conditions:

1) changing the requirements established by the legislation of the Russian Federation on accounting, federal and (or) industry standards;

2) development or selection of a new method of accounting, the use of which leads to an increase in the quality of information about the object of accounting;

3) a significant change in the conditions of activity of an economic entity.

7. In order to ensure comparability of accounting (financial) statements for a number of years, a change in accounting policy is made from the beginning of the reporting year, unless otherwise stipulated by the reason for such a change.

Note:
From January 1, 2013, the forms of primary accounting documents contained in the albums of unified forms of primary accounting documentation are not mandatory. At the same time, forms of documents used as primary accounting documents, established by authorized bodies in accordance with and on the basis of other federal laws (for example, cash documents) continue to be mandatory for use (information of the Ministry of Finance of Russia N PZ-10/2012).

Article 9. Primary accounting documents

1. Each fact of economic life is subject to registration by the primary accounting document. It is not allowed to accept for accounting documents that document facts of economic life that did not take place, including those underlying imaginary and feigned transactions.

2. Mandatory details of the primary accounting document are:

1) the name of the document;

2) date of drawing up the document;

3) the name of the economic entity that prepared the document;

5) the value of the natural and (or) monetary measurement of the fact of economic life, indicating the units of measurement;

6) the title of the position of the person (persons) who made (have completed) the transaction, operation and responsible (responsible) for its execution, or the title of the position of the person (persons) responsible (responsible) for the execution of the event;

(as amended by Federal Law No. 357-FZ of December 21, 2013)

7) signatures of the persons provided for in paragraph 6 of this part, indicating their surnames and initials or other details necessary to identify these persons.

3. The primary accounting document must be drawn up at the time of the fact of economic life, and if this is not possible, immediately after its completion. The person responsible for registration of the fact of economic life ensures the timely transfer of primary accounting documents for registration of the data contained in them in accounting registers, as well as the reliability of these data. The person who is entrusted with the maintenance of accounting, and the person with whom the contract for the provision of accounting services is concluded, are not responsible for the compliance of primary accounting documents compiled by other persons with the accomplished facts of economic life.

4. Forms of primary accounting documents are determined by the head of an economic entity upon the proposal of an official who is entrusted with accounting. Forms of primary accounting documents for public sector organizations are established in accordance with the budget legislation of the Russian Federation.

5. The primary accounting document is compiled on paper and (or) in the form of an electronic document signed with an electronic signature.

6. If the legislation of the Russian Federation or an agreement provides for the submission of a primary accounting document to another person or to a state body on paper, an economic entity is obliged, at the request of another person or state body, at its own expense, to make hard copies of the primary accounting document drawn up in form of an electronic document.

7. Corrections are allowed in the primary accounting document, unless otherwise established by federal laws or regulatory legal acts of the bodies of state regulation of accounting. The correction in the primary accounting document must contain the date of the correction, as well as the signatures of the persons who drew up the document in which the correction was made, indicating their surnames and initials or other details necessary to identify these persons.

8. If, in accordance with the legislation of the Russian Federation, primary accounting documents, including in the form of an electronic document, are withdrawn, copies of the withdrawn documents made in the manner established by the legislation of the Russian Federation are included in accounting documents.

Note:
From January 1, 2013, the forms of accounting registers approved by the federal executive authorities before the entry into force of this Federal Law are not mandatory (information of the Ministry of Finance of Russia N PZ-10/2012).

Article 10. Accounting registers

1. Data contained in primary accounting documents are subject to timely registration and accumulation in accounting registers.

2. Omissions or withdrawals are not allowed when registering accounting objects in accounting registers, registration of imaginary and sham accounting objects in accounting registers. For the purposes of this Federal Law, an imaginary object of accounting means a non-existent object reflected in accounting only for appearance (including unfulfilled expenses, non-existent obligations, facts of economic life that did not take place), a sham object of accounting means an object reflected in accounting accounting instead of another object in order to cover it (including sham transactions). The reserves, funds provided for by the legislation of the Russian Federation, and the costs of their creation are not imaginary objects of accounting.

3. Accounting is kept by means of a double entry in accounting accounts, unless otherwise established by federal standards. It is not allowed to maintain accounting accounts outside the accounting registers used by the economic entity.

4. Mandatory details of the accounting register are:

1) the name of the register;

2) the name of the economic entity that compiled the register;

3) date of beginning and end of maintaining the register and (or) the period for which the register was drawn up;

4) chronological and (or) systematic grouping of accounting objects;

5) the value of the monetary measurement of accounting objects, indicating the unit of measurement;

6) the names of the positions of the persons responsible for maintaining the register;

7) signatures of persons responsible for maintaining the register, indicating their surnames and initials or other details necessary to identify these persons.

5. Forms of accounting registers are approved by the head of an economic entity on the proposal of an official who is entrusted with accounting. Forms of accounting registers for public sector organizations are established in accordance with the budget legislation of the Russian Federation.

Note:
In accordance with Federal Law No. 63-FZ of April 6, 2011 (as amended on July 2, 2013), in cases where federal laws and other regulatory legal acts that entered into force before July 1, 2013 provide for the use of an electronic digital signature, an enhanced qualified electronic signature.

6. The accounting register is compiled on paper and (or) in the form of an electronic document signed with an electronic signature.

7. If the legislation of the Russian Federation or an agreement provides for the submission of an accounting register to another person or to a state body on paper, an economic entity is obliged, at the request of another person or state body, to make, at its own expense, on paper copies of the accounting register drawn up in form of an electronic document.

8. In the accounting register, corrections are not allowed that are not authorized by the persons responsible for maintaining the said register. Correction in the accounting register must contain the date of correction, as well as the signatures of the persons responsible for maintaining this register, indicating their surnames and initials or other details necessary to identify these persons.

9. If, in accordance with the legislation of the Russian Federation, accounting registers are withdrawn, including in the form of an electronic document, copies of the withdrawn registers made in the manner established by the legislation of the Russian Federation are included in accounting documents.

Article 11. Inventory of assets and liabilities

1. Assets and liabilities are subject to inventory.

2. During the inventory, the actual presence of the relevant objects is revealed, which is compared with the data of accounting registers.

3. The cases, terms and procedure for conducting an inventory, as well as the list of objects subject to inventory, are determined by the economic entity, with the exception of the mandatory inventory. Mandatory inventory is established by the legislation of the Russian Federation, federal and industry standards.

4. The discrepancies revealed during the inventory between the actual availability of objects and the data of accounting registers are subject to registration in accounting in the reporting period to which the date as of which the inventory is carried out.

Article 12. Monetary measurement of accounting objects

1. Objects of accounting are subject to monetary measurement.

2. Monetary measurement of accounting items is carried out in the currency of the Russian Federation.

3. Unless otherwise established by the legislation of the Russian Federation, the cost of accounting items expressed in foreign currency shall be subject to conversion into the currency of the Russian Federation.

Article 13. General requirements for accounting (financial) reporting

1. Accounting (financial) statements should give a reliable idea of the financial position of an economic entity as of the reporting date, the financial result of its activities and the cash flow for the reporting period, which is necessary for users of these statements to make economic decisions. Accounting (financial) statements should be compiled on the basis of data contained in accounting registers, as well as information determined by federal and industry standards.

(as amended by Federal Law No. 357-FZ of December 21, 2013)

2. An economic entity draws up annual accounting (financial) statements, unless otherwise established by other federal laws, regulatory legal acts of the bodies of state regulation of accounting.

3. Annual accounting (financial) statements are prepared for the reporting year.

4. Interim accounting (financial) statements are prepared by an economic entity in cases where the legislation of the Russian Federation, regulatory legal acts of state accounting regulation bodies, agreements, constituent documents of an economic entity, decisions of the owner of an economic entity establish the obligation to submit it.

5. Interim accounting (financial) statements are prepared for a reporting period less than a reporting year.

6. Accounting (financial) statements must include performance indicators of all divisions of an economic entity, including its branches and representative offices, regardless of their location.

7. Accounting (financial) statements are prepared in the currency of the Russian Federation.

8. Accounting (financial) statements are considered to be drawn up after signing a hard copy of it by the head of the economic entity.

11. No trade secret regime can be established with regard to accounting (financial) statements.

12. Legal regulation of consolidated financial statements is carried out in accordance with this Federal Law, unless otherwise provided by other federal laws.

Article 14. Composition of accounting (financial) statements

1. Annual accounting (financial) statements, with the exception of cases established by this Federal Law, consist of a balance sheet, a statement of financial results and annexes thereto.

2. The annual accounting (financial) statements of a non-profit organization, with the exception of cases established by this Federal Law and other federal laws, consist of a balance sheet, a report on the intended use of funds and annexes thereto.

3. The composition of interim accounting (financial) statements, with the exception of cases established by this Federal Law, is established by federal standards.

4. The composition of the accounting (financial) statements of public sector organizations is established in accordance with the budgetary legislation of the Russian Federation.

5. The composition of the accounting (financial) statements of the Central Bank of the Russian Federation is established by Federal Law No. 86-FZ of July 10, 2002 "On the Central Bank of the Russian Federation (Bank of Russia)".

Article 15. Reporting period, reporting date

1. The reporting period for annual accounting (financial) statements (reporting year) is a calendar year - from January 1 to December 31 inclusive, except for cases of creation, reorganization and liquidation of a legal entity.

Note:
The provision of part 2 of article 15 shall not apply when changing the type of state (municipal) institution (part 3 of article 30 of this document).

2. The first reporting year is the period from the date of state registration of an economic entity to December 31 of the same calendar year, inclusive, unless otherwise provided by this Federal Law and (or) federal standards.

3. If the state registration of an economic entity, with the exception of a credit institution, is made after September 30, the first reporting year is, unless otherwise established by the economic entity, the period from the date of state registration to December 31 of the calendar year following the year of its state registration , inclusive.

4. The reporting period for interim accounting (financial) statements is the period from January 1 to the reporting date of the period for which interim accounting (financial) statements are prepared, inclusive.

5. The first reporting period for interim accounting (financial) statements is the period from the date of state registration of an economic entity to the reporting date of the period for which interim accounting (financial) statements are prepared, inclusive.

6. The date on which the accounting (financial) statements are prepared (reporting date) is the last calendar day of the reporting period, except for cases of reorganization and liquidation of a legal entity.

Article 16

1. The last reporting year for a reorganized legal entity, except for cases of reorganization in the form of affiliation, is the period from January 1 of the year in which the state registration of the last of the resulting legal entities was carried out until the date of such state registration.

2. When a legal entity is reorganized in the form of affiliation, the last reporting year for a legal entity that is merging with another legal entity is the period from January 1 of the year in which an entry was made in the Unified State Register of Legal Entities on the termination of the activities of the merged legal entity until the date of its making.

3. The reorganized legal entity draws up the last accounting (financial) statements as of the date preceding the date of state registration of the last of the legal entities that have arisen (the date of making an entry in the Unified State Register of Legal Entities on the termination of the activities of the affiliated legal entity).

4. The latest accounting (financial) statements must include data on the facts of economic life that took place in the period from the date of approval of the deed of transfer (separation balance sheet) until the date of state registration of the last of the legal entities that have arisen (the date of making an entry in the Unified State Register of Legal Entities on the termination activities of the affiliated legal entity).

5. The first reporting year for a legal entity that has arisen as a result of reorganization, with the exception of public sector organizations, is the period from the date of its state registration to December 31 of the year in which the reorganization took place, inclusive, unless otherwise established by federal standards.

6. A legal entity that has arisen as a result of reorganization, with the exception of public sector organizations, must draw up the first accounting (financial) statements as of the date of its state registration, unless otherwise established by federal standards.

7. The first accounting (financial) statements are drawn up on the basis of the approved transfer act (separation balance sheet) and data on the facts of economic life that took place in the period from the date of approval of the transfer act (separation balance sheet) to the date of state registration of legal entities arising as a result of the reorganization, for with the exception of public sector organizations (the date of making an entry in the Unified State Register of Legal Entities on the termination of the activities of the affiliated legal entity).

8. The procedure for compiling accounting (financial) statements of a public sector organization that has arisen as a result of reorganization is established by the authorized federal body.

Article 17

1. The reporting year for a legal entity in liquidation is the period from January 1 of the year in which an entry on liquidation was made in the Unified State Register of Legal Entities until the date of making such an entry.

2. The last accounting (financial) statements of a liquidated legal entity shall be drawn up by a liquidation commission (liquidator) or by an arbitration manager if the legal entity is liquidated as a result of being declared bankrupt.

3. The latest accounting (financial) statements are drawn up on the date preceding the date of making an entry on the liquidation of a legal entity in the Unified State Register of Legal Entities.

4. The latest accounting (financial) statements are compiled on the basis of the approved liquidation balance sheet and data on the facts of economic life that took place in the period from the date of approval of the liquidation balance sheet to the date of making an entry on the liquidation of the legal entity in the Unified State Register of Legal Entities.

Article 18. Mandatory copy of accounting (financial) statements

1. Economic entities obliged to prepare accounting (financial) statements, with the exception of organizations of the public sector and the Central Bank of the Russian Federation, submit one mandatory copy of the annual accounting (financial) statements to the state statistics body at the place of state registration.

2. A mandatory copy of the prepared annual accounting (financial) statements shall be submitted no later than three months after the end of the reporting period. When submitting a mandatory copy of the prepared annual accounting (financial) statements that are subject to mandatory audit, the auditor's report on it is submitted together with such statements or no later than 10 working days from the day following the date of the audit report, but no later than December 31 of the year following reporting year.

3. Mandatory copies of accounting (financial) statements, together with audit reports, constitute the state information resource. Interested parties are provided with access to the specified state information resource, except for cases when, in the interests of maintaining state secrets, such access should be limited.

4. The procedure for submitting a mandatory copy of accounting (financial) statements together with an auditor's report, as well as the rules for using (including fees for using, unless otherwise provided by other federal laws) the state information resource provided for by Part 3 of this article, are approved by the federal executive body, performing the functions of developing state policy and legal regulation in the field of state statistical activity.

Article 19. Internal control

1. An economic entity is obliged to organize and exercise internal control over the facts of economic life.

2. An economic entity, the accounting (financial) statements of which are subject to mandatory audit, is obliged to organize and exercise internal control over accounting and preparation of accounting (financial) statements (except for cases when its head has assumed the responsibility for accounting).

Chapter 3. Accounting regulation

Article 20. Principles of accounting regulation

Accounting regulation is carried out in accordance with the following principles:

1) compliance of federal and industry standards with the needs of users of accounting (financial) statements, as well as the level of development of science and accounting practice;

2) unity of the system of accounting requirements;

3) establishing simplified accounting methods, including simplified accounting (financial) reporting, for economic entities entitled to apply such methods in accordance with this Federal Law;

4) application of international standards as the basis for the development of federal and industry standards;

5) providing conditions for the uniform application of federal and industry standards;

6) the inadmissibility of combining powers to approve federal standards and state control (supervision) in the field of accounting.

Article 21. Documents in the field of accounting regulation

1. Documents in the field of accounting regulation include:

1) federal standards;

2) industry standards;

2.1) normative acts of the Central Bank of the Russian Federation provided for by part 6 of this article;

(Clause 2.1 was introduced by Federal Law No. 160-FZ of July 18, 2017)

4) standards of the economic entity.

2. Federal and industry standards are mandatory, unless otherwise provided by these standards.

3. Federal standards, regardless of the type of economic activity, establish:

1) definitions and characteristics of accounting objects, the procedure for their classification, the conditions for their acceptance for accounting and writing them off in accounting;

2) acceptable methods of monetary measurement of accounting objects;

3) the procedure for recalculating the cost of accounting items expressed in foreign currency into the currency of the Russian Federation for accounting purposes;

4) requirements for accounting policies, including the determination of the conditions for its change, inventory of assets and liabilities, accounting documents and workflow in accounting, including types of electronic signatures used to sign accounting documents;

5) the chart of accounts and the procedure for its application, except for the charts of accounts for credit institutions and non-credit financial institutions and the procedure for their application;

6) the composition, content and procedure for the formation of information disclosed in the accounting (financial) statements, including sample forms of accounting (financial) statements, as well as the composition of the appendices to the balance sheet and the income statement and the composition of the annexes to the balance sheet and the report on intended use of funds;

7) the conditions under which the accounting (financial) statements give a reliable idea of the financial position of the economic entity as of the reporting date, the financial result of its activities and the cash flow for the reporting period;

8) the composition of the last and first accounting (financial) statements during the reorganization of a legal entity, the procedure for its preparation and the monetary measurement of objects in it;

9) the composition of the latest accounting (financial) statements upon liquidation of a legal entity, the procedure for its preparation and the monetary measurement of objects in it;

10) simplified accounting methods, including simplified accounting (financial) statements, for economic entities entitled to apply such methods in accordance with this Federal Law.

4. Federal standards may establish special accounting requirements (including accounting policy, accounting chart of accounts and the procedure for its application) of public sector organizations, as well as accounting requirements for certain types of economic activity.

5. Industry standards establish the features of the application of federal standards in certain types of economic activity.

6. Charts of Accounts for Credit Institutions and Non-Credit Financial Institutions and the Procedure for Their Application, the Procedure for Recording Accounting Accounts of Individual Accounting Objects and Grouping Accounting Accounts in Accordance with the Indicators of the Accounting (Financial) Statements of Credit Institutions and Non-Credit Financial Institutions, Forms disclosure of information in the accounting (financial) statements of credit institutions and non-credit financial institutions are established by the regulations of the Central Bank of the Russian Federation.

7. Recommendations in the field of accounting are adopted in order to correctly apply federal and industry standards, reduce the cost of organizing accounting, as well as disseminate best practices in organizing and maintaining accounting, the results of research and development in the field of accounting.

9. Recommendations in the field of accounting may be adopted regarding the procedure for applying federal and industry standards, forms of accounting documents, with the exception of those established by federal and industry standards, organizational forms of accounting, organization of accounting services of economic entities, accounting technology, organization procedure and exercising internal control over their activities and accounting, as well as the procedure for the development of standards by these persons.

11. The standards of an economic entity are intended to streamline the organization and maintain its accounting records.

12. The necessity and procedure for developing, approving, changing and canceling the standards of an economic entity are established by this entity independently.

13. The standards of an economic entity are applied equally and equally by all divisions of an economic entity, including its branches and representative offices, regardless of their location.

14. An economic entity that has subsidiaries is entitled to develop and approve its own standards that are mandatory for use by such companies. The standards of the specified subject, obligatory for application by the parent company and its subsidiaries, should not create obstacles for such companies to carry out their activities.

15. Federal and industry standards and the regulations of the Central Bank of the Russian Federation provided for by Part 6 of this Article shall not contradict this Federal Law. Industry standards and the regulations of the Central Bank of the Russian Federation provided for by part 6 of this article must not contradict federal standards. Recommendations in the field of accounting, as well as the standards of an economic entity, must not contradict federal, industry standards and the regulations of the Central Bank of the Russian Federation provided for by Part 6 of this Article.

16. Federal and industry standards, as well as the program for the development of federal standards, are approved by regulatory legal acts in the prescribed manner, subject to the provisions of this Federal Law.

17. Documents for the organization and maintenance of accounting by the Central Bank of the Russian Federation, including the chart of accounts and the procedure for its application, are approved in the manner established by Federal Law No. 86-FZ of July 10, 2002 "On the Central Bank of the Russian Federation (Bank Russia)".

Article 22. Subjects of accounting regulation

1. Bodies of state regulation of accounting in the Russian Federation are the authorized federal body and the Central Bank of the Russian Federation.

2. Regulation of accounting in the Russian Federation may also be carried out by self-regulatory organizations, including self-regulatory organizations of entrepreneurs, other users of accounting (financial) statements, auditors interested in participating in the regulation of accounting, as well as their associations and unions and other non-profit organizations, pursuing the goals of the development of accounting (hereinafter - the subjects of non-state regulation of accounting).

Article 23. Functions of bodies of state regulation of accounting

1. Authorized federal body:

1) approves the program for the development of federal standards in the manner established by this Federal Law;

2) approves federal standards and, within its competence, industry standards and generalizes the practice of their application;

3) organize the examination of draft accounting standards;

4) approves the requirements for the execution of draft accounting standards;

5) participates in the prescribed manner in the development of international standards;

6) represents the Russian Federation in international organizations operating in the field of accounting and accounting (financial) reporting;

7) perform other functions provided for by this Federal Law and other federal laws.

2. The Central Bank of the Russian Federation, within its competence:

1) develops and approves industry standards and the regulations of the Central Bank of the Russian Federation provided for by Part 6 of Article 21 of this Federal Law and summarizes the practice of applying these standards and regulations;

2) participates in the preparation and coordinates the program for the development of federal standards;

3) participates in the examination of draft federal standards;

4) participates together with the authorized federal body in the prescribed manner in the development of international standards;

5) performs other functions provided for by this Federal Law and other federal laws.

Article 24. Functions of the subject of non-state regulation of accounting

Subject of non-state regulation of accounting:

1) develops draft federal standards, conducts a public discussion of these drafts and submits them to the authorized federal body;

2) participates in the preparation of the federal standards development program;

3) participates in the examination of draft accounting standards;

4) ensures the compliance of the draft federal standard with the international standard on the basis of which the draft federal standard has been developed;

6) develop proposals for improving accounting standards;

7) participates in the development of international standards.

1. To conduct an examination of draft federal and industry standards, an accounting standards council is created under the authorized federal body.

2. The Accounting Standards Board reviews draft federal and industry standards for:

1) compliance with the legislation of the Russian Federation on accounting;

2) compliance with the needs of users of accounting (financial) statements, as well as the level of development of science and accounting practice;

3) ensuring the unity of the system of accounting requirements;

4) providing conditions for the uniform application of federal and industry standards.

5. The composition of the accounting standards council includes:

1) 10 representatives of subjects of non-state regulation of accounting and the scientific community, of which at least three members are subject to rotation once every three years;

2) five representatives of state accounting regulation bodies.

6. The composition of the accounting standards council is approved by the head of the authorized federal body. Proposals on candidates for members of the accounting standards council, with the exception of representatives of the authorized federal body, are submitted to the authorized federal body by subjects of non-state regulation of accounting, the Central Bank of the Russian Federation, scientific organizations and higher educational institutions.

7. Candidates for members of the Accounting Standards Board must have a higher education, an impeccable business (professional) reputation and professional experience in the field of finance, accounting or auditing.

8. The chairman of the council for accounting standards is elected at the first meeting of the council from among the representatives of the subjects of non-state regulation of accounting included in its composition. The chairman of the accounting standards board has at least two deputies.

9. The secretary of the council for accounting standards is a representative of the authorized federal body from among the members of the council.

10. Meetings of the accounting standards council are convened by its chairman, and in the absence of the chairman by the authorized deputy chairman as necessary, but at least once every three months. The meeting is considered competent if at least two thirds of the members of the accounting standards council are present.

11. Decisions of the council on accounting standards are made by a simple majority of votes of the members of the council participating in its meeting.

12. Meetings of the Accounting Standards Board are public.

13. Information about the activities of the accounting standards board should be open and publicly available.

14. The regulation on the accounting standards council is approved by the authorized federal body. The regulations of the accounting standards council are approved by this council independently at the first meeting.

Article 26

1. Federal standards are developed and approved in accordance with the federal standards development program.

2. Bodies of state regulation of accounting and subjects of non-state regulation of accounting submit proposals on the program for the development of federal standards to the authorized federal body.

3. The authorized federal body approves the program for the development of federal standards in agreement with the Central Bank of the Russian Federation.

4. The program for the development of federal standards must be revised annually in order to ensure that federal standards comply with the needs of users of accounting (financial) statements with international standards, the level of development of science and accounting practice.

5. The authorized federal body shall ensure that the federal standards development program is available to the Central Bank of the Russian Federation, subjects of non-state regulation and other interested parties (hereinafter referred to as interested parties) for familiarization.

6. The rules for the preparation and clarification of the program for the development of federal standards are approved by the authorized federal body.

Article 27. Development and approval of federal standards

1. The developer of the federal standard (hereinafter - the developer) can be any subject of non-state regulation of accounting.

2. Notification on the development of a federal standard shall be sent by the developer to the authorized federal body and posted on the official websites of the authorized federal body and the developer in the information and telecommunications network "Internet" (hereinafter referred to as the "Internet" network).

3. Not later than 10 working days after the date of posting on the developer's official website on the Internet a notice of the development of a federal standard, the developer places it on his official website on the Internet. The draft federal standard, posted on the official website of the developer on the Internet, should be available for review without charging a fee. The developer is obliged, at the request of the interested person, to provide him with a copy of the draft federal standard on paper. The fee charged by the developer for providing the specified copy on paper cannot exceed the costs of its production and shipment. No fee shall be charged for providing the specified copy to state accounting regulation bodies and subjects of non-state accounting regulation.

4. From the day the draft federal standard is posted on the official website of the developer on the Internet, the developer conducts a public discussion of the draft federal standard. The term for public discussion of the draft federal standard cannot be less than three months from the date of placement of the specified draft on the official website of the developer on the Internet. Notification of the completion of the public discussion of the draft federal standard shall be sent by the developer to the authorized federal body and posted on the official websites of the authorized federal body and the developer on the Internet.

5. During the period of public discussion of the draft federal standard, the developer:

1) accept comments in writing from interested persons. The developer cannot refuse to accept comments in writing;

2) discusses the draft federal standard and comments received in writing;

3) draws up a list of comments received in writing with a summary of the content of such comments and the results of their discussion;

4) finalizes the draft federal standard, taking into account the comments received in writing.

6. The developer is obliged to keep the comments received in writing until the approval of the federal standard and submit them to the authorized federal body upon his request.

7. The finalized draft of the federal standard and the list of comments received in writing from interested parties shall be posted by the developer on its official website on the Internet no later than 10 working days from the date of placement on the official websites of the authorized federal body and the developer on the Internet of the notice of completion public discussion of the draft federal standard. These documents posted on the official website of the developer on the Internet should be available for review without charging a fee.

9. The finalized draft of the federal standard, together with a list of comments received in writing from interested parties, is submitted by the developer to the authorized federal body, which organizes the examination of this draft.

10. The Accounting Standards Board prepares, within a period of not more than two months from the date of submission by the developer of the draft federal standard, a reasoned proposal to accept such a draft for approval or to reject it on the basis of the documents specified in Part 9 of this Article and taking into account the results of the examination. Such a proposal, together with the documents specified in part 9 of this article and the results of the examination, shall be sent to the authorized federal body.

11. The authorized federal body, on the basis of the documents submitted by the accounting standards council, within a period of not more than one month, accepts the draft federal standard for approval or rejects it. The draft federal standard accepted for approval is prepared and approved by the authorized federal body in accordance with the established procedure.

12. A draft federal standard proposed by the accounting standards council for adoption may be rejected if it does not comply with the legislation of the Russian Federation.

13. If the draft federal standard is rejected, a reasoned decision of the authorized federal body with the attachment of the documents specified in Part 9 of this Article shall be sent to the developer of the draft federal standard within a period of not more than 10 working days after the date of adoption of such a decision.

14. Amendments to the federal standard or its cancellation are carried out in the manner established by this article. Amendments to the federal standard due to changes in the legislation of the Russian Federation may be made at the initiative of the authorized federal body.

15. Examination of a draft industry standard is carried out by the accounting standards council in the manner established for the examination of federal standards by parts 9-13 of this article.

Article 28. Development of federal standards by the authorized federal body

1. The authorized federal body develops federal standards:

1) for public sector organizations;

2) in the event that no subject of non-state regulation of accounting assumes the obligation to develop a federal standard provided for by the approved program for the development of federal standards.

2. The development of the federal standard by the authorized federal body is carried out in the manner established by Article 27 of this Federal Law.

Chapter 4. FINAL PROVISIONS

Article 29. Storage of accounting documents

1. Primary accounting documents, accounting registers, accounting (financial) statements, audit reports on them are subject to storage by an economic entity for the periods established in accordance with the rules for organizing state archives, but not less than five years after the reporting year.

2. Accounting policy documents, standards of an economic entity, other documents related to the organization and maintenance of accounting, including the means that ensure the reproduction of electronic documents, as well as the verification of the authenticity of an electronic signature, shall be kept by an economic entity for at least five years after the year which they were used for the preparation of accounting (financial) statements for the last time.

3. An economic entity must provide safe conditions for storing accounting documents and protect them from changes.

4. When changing the head of the organization, the transfer of accounting documents of the organization must be ensured. The procedure for the transfer of accounting documents is determined by the organization independently.

Article 30

1. Until the federal and sectoral standards provided for by this Federal Law are approved by state accounting regulatory bodies, the rules for maintaining accounting and compiling financial statements approved by the authorized federal executive bodies and the Central Bank of the Russian Federation before the date this Federal Law enters into force shall apply. Prior to the approval of the federal and industry standards provided for by this Federal Law, the authorized federal executive body and the Central Bank of the Russian Federation shall have the right to make changes due to changes in the legislation of the Russian Federation to the rules for maintaining accounting and compiling financial statements approved by them before the date of entry into force of this Federal law.

1.1. Accounting regulations approved by the Ministry of Finance of the Russian Federation in the period from October 1, 1998 to the day this Federal Law enters into force shall be recognized as federal standards for the purposes of this Federal Law. At the same time, the requirement established by the second sentence of Part 15 of Article 21 of this Federal Law that industry standards and the regulatory acts of the Central Bank of the Russian Federation provided for by Part 6 of Article 21 of this Federal Law shall not contradict federal standards shall not apply to these provisions.

2. The provisions of Parts 4 and 6 of Article 7 of this Federal Law shall not apply to persons who, as of the date of entry into force of this Federal Law, are entrusted with accounting.

3. The provision of Part 2 of Article 15 of this Federal Law shall not apply when changing the type of state (municipal) institution.

Article 31

Recognize invalid:

1) Federal Law No. 129-FZ of November 21, 1996 "On Accounting" (Sobraniye Zakonodatelstva Rossiyskoy Federatsii, 1996, No. 48, Art. 5369);

2) Federal Law No. 123-FZ of July 23, 1998 "On Amendments and Additions to the Federal Law "On Accounting" (Sobraniye Zakonodatelstva Rossiyskoy Federatsii, 1998, No. 30, Art. 3619);

3) Federal Law No. 32-FZ of March 28, 2002 "On Amendments and Additions to the Federal Law "On Accounting" (Sobraniye Zakonodatelstva Rossiyskoy Federatsii, 2002, No. 13, Art. 1179);

4) Article 9 of the Federal Law of December 31, 2002 N 187-FZ "On Amendments and Additions to Part Two of the Tax Code of the Russian Federation and Certain Other Legislative Acts of the Russian Federation" (Sobraniye Zakonodatelstva Rossiyskoy Federatsii, 2003, N 1, Art. 2 );

5) Article 3 of Federal Law No. 191-FZ of December 31, 2002 "On Amendments and Additions to Chapters 22, 24, 25, 26.2, 26.3 and 27 of Part Two of the Tax Code of the Russian Federation and Certain Other Legislative Acts of the Russian Federation" (Meeting legislation of the Russian Federation, 2003, N 1, item 6);

6) Clause 7 of Article 2 of the Federal Law of January 10, 2003 N 8-FZ "On Amendments and Additions to the Law of the Russian Federation "On Employment in the Russian Federation" and Certain Legislative Acts of the Russian Federation on Financing Measures to Promote Employment of the Population" (Sobraniye zakonodatelstva Rossiyskoy Federatsii, 2003, N 2, art. 160);

7) Article 23 of the Federal Law of June 30, 2003 N 86-FZ "On the introduction of amendments and additions to certain legislative acts of the Russian Federation, the recognition of certain legislative acts of the Russian Federation as invalid, the provision of certain guarantees to employees of internal affairs bodies, bodies for controlling turnover narcotic drugs and psychotropic substances and the abolished federal bodies of the tax police in connection with the implementation of measures to improve public administration" (Sobraniye zakonodatelstva Rossiyskoy Federatsii, 2003, No. 27, art. 2700);

8) Article 2 of Federal Law No. 183-FZ of November 3, 2006 "On Amendments to the Federal Law "On Agricultural Cooperation" and Certain Legislative Acts of the Russian Federation" (Sobraniye Zakonodatelstva Rossiyskoy Federatsii, 2006, No. 45, Art. 4635);

9) Article 32 of the Federal Law of November 23, 2009 N 261-FZ "On Energy Saving and on Increasing Energy Efficiency and on Amendments to Certain Legislative Acts of the Russian Federation" (Sobraniye Zakonodatelstva Rossiyskoy Federatsii, 2009, N 48, Art. 5711);

10) Article 12 of the Federal Law of May 8, 2010 N 83-FZ "On Amendments to Certain Legislative Acts of the Russian Federation in Connection with the Improvement of the Legal Status of State (Municipal) Institutions" (Sobraniye Zakonodatelstva Rossiyskoy Federatsii, 2010, N 19, art. 2291);

11) Federal Law No. 209-FZ of July 27, 2010 "On Amendments to Article 16 of the Federal Law "On Accounting" (Sobraniye Zakonodatelstva Rossiyskoy Federatsii, 2010, No. 31, Art. 4178);

12) Article 4 of the Federal Law of September 28, 2010 N 243-FZ "On Amendments to Certain Legislative Acts of the Russian Federation in Connection with the Adoption of the Federal Law "On the Skolkovo Innovation Center" (Sobraniye Zakonodatelstva Rossiyskoy Federatsii, 2010, N 40, art 4969).

Article 32. Entry into force of this Federal Law

President of the Russian Federation D.Medvedev

In the article offered to the attention of readers by M.L. Pyatov (St. Petersburg State University) considers the content of the provisions of Chapter 1 "General Provisions" of the new Federal Law No. 402-FZ of 06.12.2011 "On Accounting", concerning the objectives and subject of this Law, its scope. A new legislative definition of accounting is considered.

The law we've been waiting for

On December 6, 2011, the President of the Russian Federation signed the new Federal Law "On Accounting", which was assigned No. 402-FZ. It comes into force on January 1, 2013 (art. 32). Until this moment, the Federal Law of November 21, 1996 No. 129-FZ “On Accounting” continues to operate. This means that we will have a whole year to carefully study the provisions of this document and try to understand what its provisions can change in accounting practice in Russia. The appearance of this Law can be called long-awaited. For several years now, we have been able to get acquainted with the relevant Draft Laws, which, in accordance with paragraph “p” of Article 71 of the Constitution of the Russian Federation, were also called the “Law on Official Accounting”. More than 15 years have passed since the entry into force of the current Accounting Law (hereinafter referred to as the 1996 Law) until the signing of the new Federal Accounting Law we are considering (hereinafter referred to as the 2011 Law). The practice of accounting in Russia has changed very significantly. Significantly changed the actual Russian legislation regulating economic activity; a huge number of new regulatory legal acts have been issued that define the accounting methodology; the Tax Code of the Russian Federation, adopted during this time and already having time to change several times, separated financial and tax accounting; the status of IFRS in Russia has changed significantly, the practice of management accounting by domestic companies has been formed. It is important to note that all these changes took place within the framework of the norms of the 1996 Law, which, of course, indicates its merits. Nevertheless, the development of accounting practice in the country required innovations in the field of its legislative regulation. And so they appeared. The law, which we are going to talk about, includes a number of cardinally new moments.

Redefining Accounting

Defining the concept of "accounting", the Law of 1996 gave a definition of its three "main tasks". Recall that these were:

“the formation of complete and reliable information about the activities of the organization and its property status, which is necessary for internal users of financial statements - managers, founders, participants and owners of the organization's property, as well as external ones - investors, creditors and other users of financial statements;

providing information necessary for internal and external users of financial statements to monitor compliance with the legislation of the Russian Federation when the organization carries out business operations and their expediency, the presence and movement of property and obligations, the use of material, labor and financial resources in accordance with approved norms, standards and estimates;

prevention of negative results of the economic activity of the organization and identification of intra-economic reserves to ensure its financial stability”.

Defining the reliability of information not as a mandatory requirement for it, but as an accounting task, considering accounting information for external users as a means of monitoring compliance with the legislation of the Russian Federation, seeing the task of accounting as preventing losses and identifying "intra-economic reserves", as well as presenting accounting as a means of ensuring financial stability of the company - all these formulations sounded somewhat absurd and did not really correspond to the current legal norms. This makes their disappearance from the text of the 2011 Law good news.

Scope of the new Law

Year is called "Scope of this Federal Law". This title is fully analogous to the title of Article 4 of the 1996 Law. However, the meaning of the relevant provisions in the 2011 Law changes significantly.

The 2011 law distinguishes between the concepts of "scope of the law" and "accounting duty". The regulation of these issues in the 1996 Law was united in Article 4, which, among other things, determined the release of a number of persons from the obligation to maintain accounting records (see paragraphs 2, 3, 4 of Article 4 of the 1996 Law). In the 2011 Law, the obligation to maintain accounting records is defined in Article 6. The article defines precisely and exclusively "the scope of this federal law."

Clause 1 of Article 2 of the Law of 2011 unites the persons to whom it applies, the term "economic entities". We need to dwell on this concept separately in order to pay attention to the possibility of its incorrect interpretation.

The fact is that in common economic terminology the concept of "economic entity" is not always associated with the legal concepts of an individual and a legal entity. An economic entity can also be understood as what IFRS defines as a business. IFRS 3 Business Combinations defines this concept as “an integrated set of activities and assets, the conduct and management of which is capable of giving rise to income in the form of dividends, cost savings or any other economic benefit, directly to investors or other owners, participants or members.”

The concept of "business" underlies the methods of formation of consolidated financial statements and is fully consistent with the idea of the priority of economic substance over legal form, reflected in the provisions of IFRS. Consolidated reporting, combining the reporting indicators of a group of legally independent organizations, represents them as a single economic entity.

On the other hand, within the framework of one legal entity, several independent economic entities can operate, which do not have the powers of independent organizations.

However, defining the scope of its application, the Law of 2011 defines the obligations arising in connection with its entry into force of the obligations of participants in economic activity. And obligations, in accordance with the current rules of law, can arise only from persons. And here we should turn to the norms of the Civil Code of the Russian Federation - subsection 2 "Persons" of the first part of the Civil Code of the Russian Federation. These are the basic concepts of civil law, but here they are of decisive importance for us. Hence, speaking of "economic entity", the Law of 2011 means the subject of legal relations, "person" in the legal definition of this concept.

Speaking about the extension of its scope to legal entities, the 1996 Law (clause 1, article 4) established that it "applies to all organizations located on the territory of the Russian Federation, as well as to branches and representative offices of foreign organizations, unless otherwise provided by international treaties of the Russian Federation."

The 2011 law formulates the relevant provisions differently.

According to paragraph 1 of article 2 of this law, its effect “applies to the following persons (hereinafter referred to as economic entities)”:
"commercial and non-commercial organizations";

The question arises: what organizations are we talking about? Considering the content of subparagraph 5 of the same paragraph of Article 2, according to which "affiliates, representative offices and other structural subdivisions of organizations established in accordance with the legislation of foreign states located on the territory of the Russian Federation, international organizations, their branches and representative offices located on the territory of the Russian Federation, unless otherwise provided by international treaties of the Russian Federation", this, apparently, refers to organizations, that is, legal entities established under the legislation of the Russian Federation.

Further, paragraph 1 of article 2 of the law establishes that its effect extends to
"State bodies, local self-government bodies, management bodies of state extra-budgetary funds and territorial state extra-budgetary funds."

Subparagraph 3 of paragraph 1 of Article 2 of the 2011 Law specifically indicates that its effect applies to
"Central Bank of the Russian Federation".

However, above the Law determined that its effect applies to commercial and non-commercial organizations. According to paragraph 1 of Article 50 of the Civil Code of the Russian Federation “legal entities can be organizations that pursue profit making as the main goal of their activities (commercial organizations) or do not have profit making as such a goal and do not distribute the profits among participants (non-profit organizations)”. The existence of other types of legal entities (organizations) is not provided for by the Civil Code of the Russian Federation. In accordance with Article 1 of Federal Law No. 86-FZ of July 10, 2002 “On the Central Bank of the Russian Federation (Bank of Russia)” (hereinafter referred to as the Law on the Bank of Russia), “the Bank of Russia is a legal entity”, but a separate legal entity. Only this explains the allocation in Article 2 of the Law of 2011 of this separate paragraph.

Here our comment will not be complete if we do not pay attention to a number of provisions of the current Law on the Bank of Russia, namely:

According to which the Bank of Russia “establishes accounting and reporting rules for the banking system of the Russian Federation”;

establishing that "the reporting period (reporting year) of the Bank of Russia is set from January 1 to December 31 inclusive";

determining that “The Bank of Russia annually, no later than May 15 of the year following the reporting one, submits to the State Duma the annual report of the Bank of Russia”.

Pursuant to Article 25, the annual report of the Bank of Russia, among other things, includes the annual financial statements of the Bank of Russia and the auditor's report on the annual financial statements of the Bank of Russia.

The same Article 25 of Law No. 86-FZ of July 10, 2002 “On the Central Bank of the Russian Federation (Bank of Russia)” establishes that for its purposes “The annual financial statements of the Bank of Russia mean:

annual balance sheet, profit and loss account, including a report on profits received and its distribution;

report on the formation and use of reserves and funds of the Bank of Russia;

a report on the management by the Bank of Russia of securities and stakes in the capital of organizations that are part of the property of the Bank of Russia;

report on expenses for the maintenance of employees of the Bank of Russia;

report on the execution of the capital investment budget;

report on the volume of transactions made by the Bank of Russia at the auctions of stock exchanges and (or) other trade organizers on the securities market”.

Subparagraph 4 of paragraph 1 of Article 2 of the Law of 2011 extends its effect also to "individual entrepreneurs, as well as lawyers who have established law offices, notaries and other persons engaged in private practice (hereinafter referred to as persons engaged in private practice)".

As a reminder, article 4, paragraph 2, of the 1996 Law establishes that “citizens engaged in entrepreneurial activities without forming a legal entity keep records of income and expenses in the manner established by the tax legislation of the Russian Federation. For the purposes of this Federal Law, lawyers who carry out advocacy activities in a lawyer's office are equated with respect to the procedure for keeping records of business transactions to citizens engaged in entrepreneurial activities without forming a legal entity..

Term "citizens engaged in entrepreneurial activities without forming a legal entity" corresponds to the content of article 23 of the Civil Code of the Russian Federation "Entrepreneurial activity of a citizen", according to paragraph 1 of which "a citizen has the right to engage in entrepreneurial activities without forming a legal entity from the moment of state registration as an individual entrepreneur." It is more difficult to define the concepts of “private practice” and “private practice”, since these terms are currently used in domestic regulations only in relation to certain types of activities. What is “private practice” and “doing it” in general, this is a question that is difficult to answer in the framework of regulatory terminology.

According to article 2, paragraph 2, of the 2011 Law, he "is used in the conduct of budgetary accounting of assets and liabilities of the Russian Federation, subjects of the Russian Federation and municipalities, operations that change these assets and liabilities, as well as in the preparation of budget reporting."

Article 2, paragraph 3, of the 2011 Law states that: “This Federal Law shall apply when a trustee maintains accounting records of the property transferred to him for trust management and related accounting objects, as well as when maintaining, including by one of the legal entities participating in a simple partnership agreement, accounting of the common property of comrades and related accounting objects with him.

Recall that the content of the property trust management agreement is determined by Chapter 53 (Part Two) of the Civil Code of the Russian Federation "Property Trust". In general, according to paragraph 1 of Article 1012 of the Civil Code of the Russian Federation, “under a property trust management agreement, one party (the founder of the management) transfers the property to the other party (the trustee) for a certain period of time in trust management, and the other party undertakes to manage this property in the interests of the founder of the management or the person indicated by him (the beneficiary).

Article 1018 of the Civil Code of the Russian Federation (paragraph 1) specifically establishes that “property transferred to trust management is separated from other property of the founder of management, as well as from the property of the trustee. This property is reflected in the trustee on a separate balance sheet, and independent accounting is maintained for it. For settlements on activities related to trust management, a separate bank account is opened.

The rules on a simple partnership agreement are contained in Chapter 55 of the Civil Code of the Russian Federation (Part Two).

According to paragraph 1 of Article 1041 of the Civil Code of the Russian Federation, “under a simple partnership agreement (agreement on joint activities), two or more persons (partners) undertake to combine their contributions and act jointly without forming a legal entity in order to make a profit or achieve another goal that does not contradict the law”.

At the same time, paragraph 2 of Article 1043 of the Civil Code of the Russian Federation establishes that “the accounting of the common property of the partners may be entrusted by them to one of the legal entities participating in the simple partnership agreement.”

Article 2, paragraph 4, of the 2011 Law states that he "is used in accounting in the process of fulfilling a production sharing agreement, unless otherwise established by Federal Law No. 225-FZ of December 30, 1995 "On Production Sharing Agreements"".

According to paragraph 1 of Article 2 of the Federal Law of December 30, 1995 No. 225-FZ "On Production Sharing Agreements" (hereinafter - Law No. 225-FZ) “a production sharing agreement (hereinafter referred to as the agreement) is an agreement in accordance with which the Russian Federation grants to a business entity (hereinafter the investor) on a reimbursable basis and for a certain period of time, exclusive rights to prospecting, exploration, and extraction of mineral raw materials in the subsoil area specified in agreement, and to conduct related work, and the investor undertakes to carry out the specified work at his own expense and at his own risk..

A special article of Law No. 225-FZ (. Accounting and reporting) determines that accounting for the financial and economic activities of the investor when performing work under the agreement must be kept "for each separate agreement, as well as separately from such accounting when it performs other activities not related to the agreement." At the same time, paragraph 2 of Article 14 of Law No. 225-FZ establishes that “accounting and reporting when performing work under the agreement are kept in the currency of the Russian Federation (rubles) or in foreign currency. In the event that accounting is carried out in a foreign currency, the reporting submitted to state bodies must contain data calculated both in the accepted foreign currency and in rubles. At the same time, all data calculated in foreign currency must be converted into rubles at the exchange rate of the Bank of Russia on the day of reporting.. The wording of paragraph 4 of Article 2 of the 2011 Law cited above eliminates the contradiction between the provisions of Article 14 of the Law of December 30, 1995 No. 225-FZ “On Production Sharing Agreements” and Article 12 “Monetary Measurement of Accounting Objects” of the new 2011 Law “On Accounting ".

Emphasizing the methodological freedom of organizations in maintaining management accounting for the purposes of generating internal financial statements, paragraph 5 of Article 2 of the Law of 2011 establishes that its provisions do not apply “when creating information necessary for the preparation by an economic entity of reporting for internal purposes, reporting submitted to a credit institution in accordance with its requirements, as well as reporting for other purposes, if the legislation of the Russian Federation and the rules adopted in accordance with it for compiling such reporting do not provide for the use of this federal law.

It should only be noted here that defining as one of the goals of accounting the formation of information about the activities of organizations for internal users of financial statements (clause 3, article 1 of the Law of 1996), Federal Law No. 129-FZ of November 21, 1996 "On Accounting" did not contain special regulations concerning management accounting of organizations.

In the next article, we will continue our acquaintance with the provisions of the new Federal Law of December 6, 2011 No. 402-FZ “On Accounting”.

From the editor:
A number of innovations introduced by the new law on accounting are already provided for in the programs of the 1C:Enterprise system.
With the entry into force of the new law, unified forms of primary accounting documents will be abolished. Now organizations must develop and approve them themselves. In the 1C programs, all the "primary" is implemented, if the organization does not want to develop its own, it can use our ready-made forms.
The law provides for the possibility of exchanging documents with contractors and government agencies in electronic form. The corresponding functionality is already available in 1C: Trade Management 8 and will be implemented in other solutions in 2012.
The new law introduces the obligation to maintain accounting records for all economic entities, incl. organizations applying the simplified taxation system (now most organizations on the simplified tax system are not required to do this). In 1C: Accounting 8, the ability to maintain accounting for organizations on a simplified basis is supported from the very beginning - 1C proceeded from the fact that even very small companies may need full-fledged accounting to effectively conduct economic activities.

State Duma

Federation Council

Judicial practice and legislation - 129-FZ On accounting

In the event that the rules for the subsequent evaluation of an object of financial investments established by paragraph 20 of the said Regulations in the period from July 1 to December 31, 2008 do not allow to reliably reflect the property status and financial results of the organization's activities, such an object is reflected in the organization's annual financial statements for 2008 at the cost of its last assessment in accounting (for example, in the assessment as of June 30, 2008 - for objects acquired before July 1, 2008, at their original cost - for objects acquired after June 30, 2008). At the same time, in accordance with the Federal Law "On Accounting", this fact must be reported in the explanatory note to the annual financial statements for 2008 with appropriate justification.