Methodological Foundations of Organizing Accounting in Business Entities

Abstract

This paper examines the significance and methodological foundations of organizing accounting in business entities. Properly organized accounting provides the necessary data for the accurate and effective management of a business’s financial condition. The paper analyzes the fundamental principles of accounting, relevant legislation and regulatory documents, as well as the problems encountered in establishing an accounting system and ways to address them. Efficient organization of accounting plays a vital role not only in fulfilling tax obligations but also in improving a company’s financial status, aiding decision-making, and preparing financial reports.