Raboshuk A. Principles, standards and professional judgment in accounting: theoretical and methodic aspect

Object of research - accounting reflection of the business facts on the basis of accounting principles and standards.Purpose of research: scientific grounding of theoretic and methodic aspects of improvement of forming and application of accounting principles, standards and professional judgment in accounting for providing an accounting integrity.Methods of research: induction, deduction, theoretical generalizing, grouping, comparison, abstractlogical method, causal-consequent connection, observation, questionnaire method, analysis, synthesis.The theoretical and practical results: the scientific and methodical approaches as well as the practical recommendations on the improvement of principles, standards and professional judgment forming and application in accounting have been researched and worked out. The results of research have been used in the author's publications, study editions and conference reports as well as in activity of the large industrial enterprises.The scientific novelty lays in grounding of theoretic and methodic aspects of improvement of principles, standards and accountant's namely: for the first time for the first time: correlation of accounting principles, standards and professional judgment as a basis of accounting process organization that provides the defining of accounting reflection under legislation variance and imperfection has been proved; algorithm of an accountant's professional judgment forming and application that contributes in avoiding the impact of the negative consequences of professional judgment-based decisions has been worked out; the issues have been improved as follows: accounting principles classification by accounting process stages (principles of accounting process organization, principles of accounting, principles of financial reporting have been defined) for providing the accounting system integrity; accounting standards development on the principles and rules combination base for reducing uncertainty in accounting reflection; methodic of financial statements transformation according to IAS/IFRS to provide the reliability and interpretation adequacy of transformed statements; the issues have undergone the further development as follows: clarifying of the concept "accounting principle" for systematization of the accounting conceptual set; determination of regularities of accounting principles forming.Extent of implementation: the results of research have been implemented into practice of Private Limited Company "No-vokramatorskiy mashynobudivny zavod", Auditing Company "MGI Consulting LTD" as well as in the educational process of Zhytomyr State Technological University for teaching "Financial Accounting", "Organization of Accounting", "World business", "Accounting in foreign countries".Efficiency of implementation: enables increase the reliability of accounting information according to the requirements of the national legislature, provides mechanism of the optimal change-over of the business entities towards IAS/IFRS.Sphere of usage: business activity of enterprises as well as auditing firms.