Accounting

Accounting — the ordered system of collecting, registration and synthesis of information in terms of money on a condition of property, obligations of the organization and their changes (cash flow) by the continuous, continuous and documentary accounting of all economic operations.

Objects of accounting are the property of the organizations, their obligations and economic operations which are carried out by the organizations in the course of their activity.

Accounting according to the law on accounting can be kept: the chief accountant accepted on the enterprise for the employment contract, the CEO in the absence of the accountant, by the accountant not being the main thing, or the third-party organization (accounting maintenance).

The main objective of accounting is formation of full and reliable information (accounting reports) about activity of the organization and its property status on the basis of which becomes possible:
prevention of negative results of economic activity of the organization;
identification of intraeconomic reserves of ensuring financial stability of the organization;
control of observance of the legislation at implementation of economic operations by the organization;
control of expediency of economic operations;
control of existence and movement of property and obligations;
control of use of material, labor and financial resources;
control of compliance of activity to the approved norms, standards and estimates.

Internal users of accounting reports are heads, founders, participants and owners of property of the organization.

External users of accounting reports are investors, creditors, the state.

Accounting is closely connected with tax and management accounting.