FEATURES AND DIRECTIONS OF ENSURING THE ACCOUNTING POLICY OF NON-CURRENT ASSETS IN ACCOUNTING AND TAXATION

Abstract

The article considers the essence and necessity of forming an accounting policy in relation to the main accounting elements for operations with non-current assets in accordance with the requirements of the tax code of Ukraine. Problematic issues in the approximation of financial and tax non-current assets that make it necessary to adjust the financial result before taxation are identified. The article examines the essence of accounting policy from both scientific (theoretical) and practical sides: an internal accounting standard based on a set of accounting methods and procedures used for the preparation, preparation and submission of reporting forms, taking into account the economic interests of information users. Business entities have the right to choose and influence the results of their activities when forming an accounting policy, but despite this possibility, they treat this formally and underestimate the impact of such an instrument on the financial condition of the enterprise. Accounting of non-current assets is conducted with an advantage to the requirements of tax accounting, which complicates the organization of accounting. At the state level, tax reforms have been carried out more than once in order to achieve harmonization of tax and financial accounting, but only partial harmonization has been achieved, as evidenced by the requirements in the tax code of Ukraine regarding the need to adjust the financial result before income tax. Optimization of the accounting policy of non – current assets in Ukraine is hindered by the lack of a separate national accounting regulation (standard) (NP(C)BU, which would regulate the formation of accounting policy, since at the international level it is regulated by International accounting standard 8 "accounting policies, changes in accounting estimates and errors" (hereinafter-IAS 8). Variants of the structure of the regulation and an additional section in the order have been developed and implemented in order to form accounting policies for accounting and tax reporting indicators.