ACCOUNTING POLICY ON CONTROL OVER THE AVAILABILITY AND USE OF PRODUCTION STOCKS

Abstract

The article explores the essence of the concept of "accounting policy" taking into account the interpretations of domestic scientists. It is determined that accounting policy is an important means of achieving various goals of the enterprise aimed at improving its activities. It simultaneously acts as a way to unify accounting procedures and reduce their labor capacity, and a tool for managing the costs, income, financial results of the enterprise, and a means of optimizing the tax burden of the enterprise. Due to the application of accounting policies, it is possible to significantly influence the results of activity, indicators of financial stability, liquidity, solvency, to carry out effective financial and tax planning. The purpose of the accounting policy is to provide complete, objective and reliable information that would comprehensively and adequately characterize the financial condition of the enterprise and be useful for making management decisions. The article theoretically substantiated the significance of production stocks for the functioning of the business entity. In accounting, the concept of "production stocks" is interpreted as a subject of work, which is aimed at human labor and constitutes the material basis of the created product. Inventories – assets held for further sale under the conditions of ordinary economic activity; are in the process of production in order to further sell the production product; consumption during production, performance of works and services, as well as enterprise management. The development of accounting policy by each business entity is necessary in connection with the implementation of a number of regulations regulating alternative variants of accounting methods and procedures for which the enterprise has the right to choose taking into account the industry characteristics and specifics of activity, and has become the basis of organization and accounting at each enterprise. Accounting policy of the enterprise is an important tool through which there is a possibility of optimal combination of state regulation and own initiative of the enterprise in matters of organization and accounting.