BUSINESS INFORM №1-2019

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Section: Accounting and Auditing
UDC 657.1
Lukin V. О., Mаliarevskyi Y. D.
The Accounting Principles: Terminology Issues (p. 284 - 290)
The article is aimed at researching different approaches to the definition of the term of «principles of accountance». Different terms are used in the writings of domestic and foreign authors, as well as in normative materials of different countries. Most often these terms are not defined in normative documents, which complicates an understanding of their essence. The system of international accountance and financial reporting standards also uses two terms, «principle» and «fundamental assumption», without definition. Their analysis suggests that the term of «principle» is used in the case of an unconditional principle that is usable in all cases; the term of «fundamental assumption» is used in the case of an implicit principle which is not of a universal character. There is also no clear division of the terms of «principles» and «qualitative characteristics» in the system of international standards. As a result, the number and relationship of quality characteristics are constantly changing in different editions of the Conceptual framework for financial reporting. It is concluded that the basic terms of accountance need to be defined at the international level.
Keywords: principles of accountance, qualitative characteristics, basic assumptions, accountance method, system of accountance terms.
Bibl.: 23.

Lukin Vladimir О. – Candidate of Sciences (Economics), Associate Professor, Associate Professor, Department of Accounting and Taxation, Kharkiv Educational and Scientific Institute of SHEI «Banking University» (55 Peremohy Ave., Kharkіv, 61174, Ukraine)
Email: [email protected]
Mаliarevskyi Yurii D. – Candidate of Sciences (Economics), Associate Professor, Associate Professor, Department of Accounting and Business Consulting, Simon Kuznets Kharkiv National University of Economics (9a Nauky Ave., Kharkiv, 61166, Ukraine)
Email: [email protected]

Article is written in Ukrainian
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Reference to this article:
Lukin, Vladimir О., and Mаliarevskyi, Yurii D. (2019) “The Accounting Principles: Terminology Issues.” Business Inform 1:284–290.

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