Violation Of Accounting Principles

As practice shows, the recent accountants many companies do not bother to study the content of regulations (standards) of accounting, and some of them do not represent the financial statements. In most cases, the accountants of enterprises concerned with tax reporting. What are the consequences may be of non-compliance of accounting principles? Typical violations of accounting principles registration list and the content of accounting principles and financial statements are presented in Article 4 of the Law of Ukraine "On Accounting and Financial Reporting in Ukraine" dated 16.07.1999 996-XIV and paragraph 18 of the P (s) A 1 "General Requirements for financial reporting. "Most of the bugs and kinks in the financial statements are the result of non-accountants in the two main principles: accruals and the related income and expenses on which to determine the financial result of the reporting period should be compared earnings of the reporting period with expenses that have been made to obtain these revenues. The income and expenses are recorded in the accounting and reporting when they occur, regardless of time of receipt and payment of money; diligence, according to which assessment methods used in accounting, must prevent undervaluation of commitments and expenses and overstatement of assets and income of the enterprise. Undetermined net realizable value of stocks of a typical violation of the precautionary principle is that companies do not represent the reserves on the balance sheet date on net realizable value. Many accountants are either not heard of this term, or do not know what document it predusmotreno.Napominaem, pursuant to paragraphs 24-26, P (s) A 9 "reserves" in the accounting and reporting Inventories are stated at the lower of two estimates: the original cost or net realizable value.