Abstract
The object of the investigation is the socialist system of accounting, its achievements and downfall. The goal of the investigation was to investigate the spreading of the soviet system of accounting in the people’s democratic countries and the presumptions seeking to create the common unified system of socialist accounting.The paper describes the historical formation of socialist accounting principles; implementation of the soviet socialist accounting system in European people’s democratic countries; peculiarities and achievements of the national systems of financial accounting of the countries - members of the Council of Mutual Economic Assistance (CMEA); unification and integration of financial accounting in the countries-members of the CMEA; shortcomings of the socialist system of accounting, its fall and its role in the development of the world system of accounting. The methods of the investigation involved analysis and assessment of the scientific literature and of the legal acts regulating the management of accounting, as well as systematization and summarizing of the accumulated information.
Highlights
The significance of accounting in socialist centralized planned economics and in capitalist freemarket economics differs as, in point offact, their structures and goals differ
Accoun ting in the free-market conditions prepares and provides the interested persons and institutions with the information on the companies' activity. This goal is attained at two different levels: 1) the management accounting provides the information necessary for the company managers and owners, who wish to plan and to control their own activity; 2) financial accounting provides information for the external information users who wish to participate in the company's activity (Accountancy ..., 1990, p.5-6)
The most effective forms of providing the soviet experience were as follows: the popularization of the main soviet financial accounting principles, forms and methods in the press of the socialist countries; the publication of the most important soviet directive acts on the issues of financial accounting in the socialist countries; translations ofsoviet authors' works and stimulation of local authors to write on accounting corresponding to the needs of the socialist economy; knowledge of the practical accounting management experience of the USSR enterprises and organizations; business trips of soviet specialists to socialist countries in order to assess the state of accountancy and to share the soviet accounting experience, etc
Summary
The object of the investigation is the socialist system of accounting, its achievements and downfall. The goal of the investigation was to investigate the spreading of the soviet system of accounting in the people's democratic countries and the presumptions seeking to create the common unified system of socialist accounting. The paper describes the historical formation ofsocialist accounting principles; implementation of the soviet socialist accounting system in European people's democratic countries; peculiarities and achievements of the national systems of financial accounting of the countries - members of the Council of Mutual Economic Assistance (CMEA); unification and integration of financial accounting in the countries-members of the CMEA; shortcomings of the socialist system of accounting, its fall and its role in the development of the world system ofaccounting. The methods of the investigation involved analysis and assessment of the scientific literature and of the legal acts regulating the management of accounting, as well as systematization and summarizing of the accumulated information
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