Kantsurov O. Institutional Principles of Accounting

The research is devoted to scientific substantiation of theoretical and methodological positions of accounting on institutional basis, complex solutions for methodological and organizational problems of forming an effective national institute of accounting. The work proves that the institutional aspect of accounting is a form of its manifestation as a socio-economic object of knowledge due to the social nature of this activity and thus variability of behaviour of its subjects and the social mode of production in which information product of accounting has a wide demand only upon compliance with certain consumable qualities. This makes it necessary to ensure the formation of economic information using mandatory uniform compliance procedures which is achieved by institutionalizing this type of socio-economic activities. Thus accounting is considered as a coherent and internally segmented socioeconomic institution that represents a system of formal (legal) and informal (ethical) regulatory standards and appropriate mechanisms to ensure their implementation, and which is the cause of transaction costs incurred.