The Accounting Policies of the Enterprise in Accordance with Russian and International Standards: Formation, Analysis and Audit

The accounting policy, which reflects all methods of accounting and reporting used by company, has undergone major changes with the introduction of international standards in the Russian practice. However, the question of accounting policy’s influence, and in particular the differences between the Russian and international practices affecting key indicators of financial activity is poorly lit in modern economic researches. The key idea of research is to analyze the main elements of accounting policy and determine their impact on the financial performance of the organization in terms of IFRS and RAS, as well as to develop the accounting policy audit methodology in order to judge the reliability of the accounting policy. The comparative analysis of the elements carried out in the context of assets and liabilities. As a basis for the direct calculation of values and indicators the reporting of the company "MTS" is used. An equally important aspect of the study is the development of audit methodology that ensures that the information provided by the company in the accounting policy is true and the conclusions that have been made on this basis can be considered correct. In this part of the research is devoted to basic empirical calculations of audit planning stage, as well as testing of a number of audit procedures. As a result author formed conclusions and recommendations for the improvement of the company's accounting policy.