Federal Law "On Accounting" No. 402-FZ of 06.12.2011 with amendments and additions

устанавливает единые требования к формированию отчетности. The legal act on accounting (402-FZ) establishes uniform requirements for the formation of accounts. They are compulsory for all subjects carrying out entrepreneurial activity, if it is indicated in the regulations. Let's consider some articles of the act ( briefly).

Review 402-FZ "On Accounting"

The purpose of the document is the creation of a legal mechanism regulating the activity on the formation of accounts. распространяет свое действие на следующих экономических субъектов: The legal act on accounting (402-FZ) extends to the following economic entities:

1. Non-commercial and commercial associations.
2. State agencies, local government structures, management bodies of extra-budgetary state and territorial funds.
3. The Central Bank.
4. Individual entrepreneurs, private practitioners of notaries, lawyers and other similar entities.
5. Representations / branches and other structural subdivisions of enterprises established under the legislative norms of foreign states on the territory of the Russian Federation, as well as international organizations and their branches operating within Russia, unless otherwise established by agreements of the Russian Federation with foreign countries.

Normative regulation of accounting

применяется при управлении бюджетными активами и обязательствами РФ, регионов и МО, осуществлении операций, изменяющих их. 402-FZ is used in the management of budget assets and liabilities of the RF, regions and MO, the implementation of operations that change them. Its provisions also apply when reporting on expense-income items. Articles of the act are used when carrying out activities for the formation of documentation by the trustee on the material values transferred to him, as well as when reporting, by one of the participants in a simple partnership, on material values and objects connected with them. The requirements of the law are applied in accounting during the execution of the agreement on the division of manufactured products, unless otherwise provided for in Federal Law No. 225.

Exceptions

не применяется при обобщении информации, требуемой для составления отчетности для: The legal act on accounting (402-FZ) does not apply when summarizing the information required for reporting for:

1. Internal use in the enterprise.
2. Provision of a credit institution, according to its requirements.
3. Other purposes, if its application is not provided for by separate legal documents.

Objects

устанавливает перечень категорий, в отношении которых составляется первичная документация. 402-FZ "On Accounting" (the latest edition) establishes a list of categories in respect of which the primary documentation is prepared. These objects include:

1. The facts of economic activity of the enterprise.
2. Commitments.
3. Assets.
4. Sources of financing the work of the enterprise.
5. Costs.
6. Incomes.
7. Other objects, if this is set by standards.

Obligation to form documentation

содержит ряд предписаний для экономических субъектов. 402-FZ "On Accounting" (the latest edition) contains a number of regulations for economic entities. In particular, it establishes the obligation to keep records, unless otherwise stipulated by other legal acts. From the need to conduct accounting can be released:

1. Individual entrepreneurs, individuals engaged in private practice. They may not form documentation, if, according to the Tax Code, they take into account expenses and incomes or only receipts, as well as other objects of taxation in the manner prescribed in it.
2. Representative offices / branches of organizations established in accordance with the procedure established by legal acts of a foreign state located on the territory of the Russian Federation. The said entities may not form documentation if, in accordance with the Tax Code, they take into account expenses and incomes, as well as other objects of taxation according to the rules established in the Code.

Nuances

предписывает непрерывное обобщение информации в первичной документации с даты госрегистрации предприятия до момента завершения его деятельности в связи с ликвидацией/реорганизацией. The legal act on accounting (402-FZ) prescribes the continuous compilation of information in the primary documentation from the date of state registration of the enterprise to the moment of completion of its activities in connection with liquidation / reorganization. Organizations that have become participants in programs for the implementation of research, development and commercialization of results can use simplified reporting methods for small businesses. This provision is valid in case of obtaining the relevant status, in accordance with Federal Law No. 244.

Organizational moments

Law 402-FZ "On Accounting" provides for a number of rights and obligations for business leaders and entrepreneurs. In particular, reporting and storage of documentation is organized by the director of the organization. If an individual entrepreneur or a private practice entity keeps records, in accordance with the provisions of Federal Law No. 402, they bear responsibilities similar to those established for enterprise managers. The director of the organization, with the exception of credit, assigns the corresponding duties to a specialist in the state. He can also enter into a contract with a third-party accounting company. The head of a credit institution is required to assign the corresponding duties only to a specialist in the state. An individual entrepreneur has the right to keep records.

Requirements for specialists

Law 402-FZ prescribes that in addition to credit organizations, insurance companies, APFs, investment stock funds, as well as other enterprises whose securities have been admitted to circulation on stock exchanges, in management bodies in off-budget territorial and state funds, Chap. An accountant or a specialist performing his functions must have:

1. Higher professional education.
2. Work experience by specialty. It should be related to the maintenance of accounting, reporting or auditing activities. Experience should be at least three of the last five years, and if higher professional education is not available - at least 5 of the last 7 years (calendar).

A specialist should not have an outstanding conviction for economic crimes. Additional requirements for an officer acting as an accountant may be provided for by other laws. If an enterprise enters into an agreement with a third-party specialist, it must meet the above requirements. If another legal entity is involved in accounting, there must be at least one employee in the state that meets the above-mentioned characteristics. The chief accountant in the financial and credit organization must meet the requirements determined by the Central Bank.

Disagreements

In some cases, there may be controversial points. In particular, there may be disagreements about the reporting between the director of the enterprise and the official conducting the accounting. In such situations, the data present in the primary document is not accepted / accepted by the specialist for registration and accumulation in the relevant registers at the written order of the chief. The head is solely responsible for the information created as a result of these actions. Similarly, the issue of reflecting the accounting object is solved. In this case, the executive order is also issued, according to which the specialist shows / does not show the disputed asset. Responsibility for the reliability of the financial result and the movement of financial resources is borne by the director.