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![](/i/favi32.png) Of azerbaijan high technical educational institutionsPAHTEI
PROCEEDINGS OF AZERBAIJAN HIGH TECHNICAL EDUCATIONAL INSTITUTIONSPAHTEI-27.04.2023 PAHTEI
PROCEEDINGS OF AZERBAIJAN HIGH TECHNICAL EDUCATIONAL INSTITUTIONS
VOLUME 27 ISSUE 04 2023
E-ISSN: 2674-5224
Accounting practice is a set of accounting procedures at a particular enterprise, institution,
organization that provides accounting, as well as the preparation of financial and management
reporting. The inclusion in the definition of accounting policy and accounting rules, which
generally relate to the organization of accounting, is not justified. Small and medium-sized
enterprises (SMEs) are often under-represented in the accounting standards developed for larger
companies. The UN and OECD have recognized the need to develop special accounting standards
for SMEs, rather than requiring them to comply with IFRs that are primarily intended for large
firms.
Keywords:
small and medium enterprises, international financial standards, inventory
accounting, accounting.
Introduction
World accounting experience shows that the most effective implementation of the control and
analytical functions of accounting is possible in the conditions of dividing accounting into two
independent ones - financial and managerial.
In management accounting, it is possible to control the safety and use of resources, as well as to
identify financial results by responsibility centers. Responsibility centers are divisions of a
production, supply and marketing nature, built on the basis of the presence of a responsible
manager and summing up the results by activity centers.
Purpose of the research
The purpose of this research is to examine the process of improving inventory accounting in small
and medium enterprises in the context of the transition to international financial reporting
standards for small and medium enterprises.
Material and the methods of the research
The databases used for the application of the selected methods include international regulations,
articles, the main areas of special economic literature on topics relevant to the selected research
field, including scientific studies of foreign scientists.
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