Principles of accounting and reporting as principles of valuation and their implementation in practice

Abstract

The basis of any valuation rules are its principles. In this regard, before defining these rules, it is first necessary to establish what these principles should be. In this article, the basic modern principles of accounting and reporting embedded in the systems of Russian and International standards are considered as principles for valuation of accounting and reporting objects. When conducting research, methods such as analysis and synthesis, grouping method, comparison, analogy method, logical approach, systematic approach were used. As a result of the research, this paper presents a system of valuation principles derived from the principles of accounting and reporting provided for by the main domestic and international regulatory documents. In addition, this article analyzes the practice of implementing these principles by Russian and foreign organizations with different scales of activity. The results obtained in this article will be useful to a wide range of readers interested in the problems of modern accounting and reporting, including valuation, which can be used in the educational process of higher educational institutions, as well as in the practical work of accounting departments of modern organizations.