ACCOUNTING AS A MEETING POINT BETWEEN INTERESTS OF STATE AND BUSINESS

Abstract

Accounting is one of the main management functions along with functions such as planning, regulation, organization and incentives. This means that improving management and creating a market mechanism are inextricably linked with the development of the entire accounting system. The priority area for using the information generated in the accounting system is meeting the needs of a certain circle of interested parties. Accounting, by virtue of its constituent elements and methods of maintenance, is an information system that gives its internal and external users a complete picture of financial and economic activities. Russian accounting is traditionally focused on tax legislation, and the problem arises of the need to keep records for both tax authorities and for the purposes of the financial market. The globalization processes taking place in the global system have a significant impact on the formation of various concepts, including accounting concepts. Due to the main objective and subjective factors - liberalization and increased competition in the national markets of developed countries, improving the technology of financial accounting operations, the overall growth of world production - economic globalization processes have become possible. The problem of accounting unification is one of the main ones in the global economy. The state's interest in expanding the scope of export-import operations, selling shares and securities on exchanges of different countries, in attracting foreign capital to the country stimulates the processes of standardization and unification of accounting processes and principles, bringing them into line with international standards, which is necessary to facilitate understanding of financial user reports from different countries. In the case when the primary interests of the state affect domestic policy issues, the accounting and reporting system is formed under the influence of the needs of national lenders and investors, reflecting the principles and concepts adopted in this country. Accounting is considered as an area of coordination of interests of the state and business in the context of globalization of the global economy. Globalization has led to the fact that many aspects of accounting as a scientific discipline and practical activity have acquired international coloring, while accounting has not yet been taken to a new level of the methodology used in the global system. It is necessary to follow uniform rules for accounting, calculating financial results and preparing financial statements, which will ensure sufficient transparency of the reporting data, their understanding and unambiguous interpretation in the international context. Theory of accounting is a combination of diverse concepts, united by the laws and specifics of the requirements and goals of users of information generated in accounting as a set of directions, trends and schools that explain the accounting process from their methodological positions. The current state of accounting theory does not meet the requirements of its reform. First of all, the tasks adopted by the Concept for the Development of Accounting and Reporting in the Russian Federation cannot be solved by methods accepted in theory. Accounting requires a revision of goals, reformulation of approaches to the presentation of basic theoretical principles. Modern theory has not yet been able to find effective solutions to pressing problems of accounting during its reform in connection with the transition to IFRS. When developing the theory of accounting, information from new areas of economic life (stock market, insurance, investment, bankruptcy, etc.) is practically not taken into account, the problem of reconciling the diverse interests of users of accounting information and the composition of such users has not been resolved. Existing accounting principles (assumptions and requirements) do not allow for an unambiguous interpretation of the results of an entity's business activities. Convergence is understood as the process of convergence of accounting and reporting systems by selecting (moving towards each other) the IASB, together with national regulatory authorities, of accounting solutions that will ensure the preparation and presentation of clear, comparable and reliable information in the financial statements. The multivariance of approaches to the convergence process is due to the variety of discrepancies between IFRS and national standards of different countries. Today, accounting theory and methods are the key areas for improvement; they help evaluate long-established and recently emerging accounting principles and use them as the basis for the theoretical, regulatory and methodological support of the accounting processes. Accounting is an instrument used by the state to ensure proper financial regulation and implementation of a unified financial policy, including taxation rules. Its purpose is to enforce the constitutional right to information about economic and business activities that must be carried out in accordance with the principles of equality, contracting, competition and risk. Moreover, accounting is seen by the Constitution as one of the core elements of a single economic space, which is a cornerstone of the constitutionally established state order. As one of the key users of the accounting information, the state is very much concerned about the efficiency of the accounting principles to ensure regulatory compliance of business [1,5]. The current globalization processes result in the emergence of new concepts, including those in accounting. Economic globalization has been promoted by such processes as liberalization, intensification of competition in the developed markets, advancement of accounting technology, expansion of world production.