accounting policy

In order to ensure that warranty repair and maintenance costs are included evenly in accordance with National Accounting Standards and International Financial Reporting Standards, entities are entitled to create provisions under warranty. Creation of such provisions allows to adjust the income and expenses for warranty repair and maintenance and to reasonably distribute expenses between the reporting periods, which helps to optimize the tax burden.

The essence to the definition of the term“accounting policy of the enterprise” is represented in
the thesis. It is mentioned factors that must be taken in to an account during the formation of the
enterprise accounting policy. Proceeding from the principles of accounting, the accounting policy
should be shaped in a certain sequence when each previous stage provides realization of the next. It is
advisable to highlight the threemain stages of accounting policy: preparatory, organizational and final.