Functions, Methods and Principles of Accounting in Improving an Enterprise's Economic Security

Ilona Melnychenko ()
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Ilona Melnychenko: National University of Life and Environmental Sciences of Ukraine, Kyiv, Ukraine

Oblik i finansi, 2017, issue 2, 50-56

Abstract: The article clarifies the tools of interaction and implementation of functions, methods and principles of accounting in reliance on the use of all elements of commercial policy on accounting with the view of improving economic stability. The essence and major tasks of economic stability of an enterprise are under consideration. The place of every investigated element has been defined and main shortcomings in those elements' implementation have been outlined, while resolving issues of an enterprise's economic stability. Basic trends have been explained in further investigations as to a more intensified interaction of functions, methods and principles of accounting in improving an enterprise's economic stability. Particularly, it is suggested that: 1) specific methods of inventory assessment and fixed assets that would ensure a non-biased assessment of an enterprise's financial self-sufficiency, resilience and competitive strength should be selected from the available proposed ones and applied according to the chosen policy of accounting; 2) specific methods of accounting with the view of compiling a document management schedule in order to improve the economic stability by means of an enterprise's legal remedies and protection of internal information should be selected from the available proposed ones and applied accordingly.

Keywords: functions of accounting; accounting method elements; accounting principles; accounting policy; enterprise's economic security; competitiveness; protection of information (search for similar items in EconPapers)
JEL-codes: G14 (search for similar items in EconPapers)
Date: 2017
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