Bookkeeping for beginners
What are the principles of the organization’s accounting? How to properly build her work? Probably, any aspiring businessman who decided to open his own company, but who did not have a special accounting education, would ask himself such questions. There are more than enough theories on this subject: the number of legislative acts relating to this or that extent of this issue can confuse even the most advanced financial specialist. Let’s try to understand the basic concepts that a newly registered company is faced with in practice.
Organization of accounting is the task of the leader. He must determine which of the employees will perform the functions of chief accountant. It may be the CEO himself. In the absence of a suitable employee, it is possible to conclude a contract for accounting and reporting with a company specializing in this matter.
The basic principles of reflection of various business transactions are regulated by the accounting policy of the organization. The company should develop this document independently, focusing on the requirements of the regulatory framework.
It would seem, why is this necessary, if there is legislation in which the rules are written for seemingly all occasions? It is very simple: in some areas of accounting, several possible solutions can coexist, and the company has the right to choose which one it will use.
An accounting policy should be applied sequentially from year to year. Changes to it can be made only if new legislative acts on accounting are enacted, a new accounting method is developed that provides for an increase in its quality, or in case of serious changes in the company’s activities.
As part of the formation of the accounting policy, it is necessary to fix the following points for application by order of the head: • working chart of accounts; • applicable forms of primary accounting documents and accounting registers; • the procedure for conducting an inventory of all assets and liabilities of the organization; • methods of valuing assets and liabilities; • workflow rules and accounting information processing technology; • control procedure for business operations; • other decisions necessary for the organization of accounting.
In addition, it is important to note that any transaction is recorded on the basis of double entry, that is, the entry is made for the same amount on the debit of one account and the credit of another account. This pair forms the term “accounting entry”, which is well known to many. Each of the debit accounts corresponds to a certain number of other credit accounts, and vice versa.
The balance of an account at a given date or end of the period reflects the cash equivalent of various assets and liabilities of the firm. Based on these data, financial statements are formed, which organizations are required to submit once a year no later than March 31 of the year following the reporting one.
Already at the stage of registration of a legal entity, its founders must clearly give themselves the answer to the question: on which taxation system will the company work. There are several options offered by the Tax Code: OSNO, STS (6% or 15%), and also, in relation to certain types of activities, UTII.
By default, all firms “fall” into the common system. Those who wish to apply the “simplification” have 30 calendar days from the moment of registration in order to inform the tax authorities about their intention.
It is important to note that the imputation applies only to those types of activities that are listed in paragraph 2 of Article 346.26 of the Tax Code. Moreover, for each region of the country, their specific list (and not necessarily the whole) should be approved by the relevant law on the introduction of UTII in the territory of a region, territory or republic.