ACCOUNTING POLICY AS A MEANS OF CREATING ANALYTICAL INFORMATION FOR MANAGERIAL DECISIONS AND STRATEGIC DEVELOPMENT OF THE ENTERPRISE

Abstract

The article explores the theoretical foundations of developing a company’s accounting policy, particularly revealing the core principles and methods underlying its formulation and implementation. The analysis starts with fundamental accounting principles such as objectivity, consistency, and relevance, which form the basis for developing the accounting policy. The principles of choosing and applying accounting methods are examined in detail, including their impact on the company’s accounting practices and their alignment with international and national standards. Attention is given to the analysis of various approaches to forming accounting policies, such as centralized and decentralized models, their advantages and disadvantages, as well as their application in the context of modern business environments. This includes comparing traditional and contemporary approaches to accounting processes and adapting accounting policies to changing economic conditions and legislative requirements. The impact of different approaches on financial transparency, managerial decisions, and enterprise risks is also considered. The article thoroughly examines the accounting policy as a tool for organizing accounting that ensures proper reflection of financial transactions and the preparation of reliable financial statements. Accounting policy is viewed as a mechanism that helps ensure that accounting records accurately reflect the company’s financial status, contributes to the accuracy and timeliness of financial reporting. The importance of adhering to current legislation, which defines the frameworks and standards for accounting practices, is also emphasized. The article highlights how effectively implemented accounting policies can improve financial control, reduce errors and fraud, and enhance the overall financial stability of the company. Special attention is given to integrating accounting policies with other aspects of enterprise management, such as strategic planning, risk management, and corporate governance. The role of accounting policy in ensuring the transparency of financial processes, increasing resource management efficiency, and promoting strategic development is defined. The article also proposes a strategy for enhancing the company’s accounting policy, which includes implementing modern accounting technologies, such as automating accounting processes and using specialized software. In addition, the article addresses the optimization of asset and liability valuation methods, particularly focusing on the application of modern approaches to the depreciation of fixed assets, inventory valuation, and financial instruments. The importance of enhancing the qualifications of accounting personnel and the necessity for continuous training and professional development to meet contemporary accounting and reporting requirements are emphasized. The results of the study have significant practical relevance and can be useful for company managers, accountants, and auditors in the process of developing and implementing accounting policies aimed at improving the efficiency of economic and financial activities and ensuring the long-term development of the enterprise. It is hoped that these recommendations will contribute to the improvement of accounting practices in enterprises across various sectors of the economy.