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

Legal act about accounting (402-ФЗ) устанавливает единые требования к формированию reporting. They are obligatory for implementation by all business entities, if this is specified in the regulations. Consider some articles of the act (briefly).

Review 402-ФЗ "About accounting"

The purpose of the document is the creation of a legal mechanism regulating reporting activities. Legal act of accounting (402-ФЗ) extends to the following economic entities:

1. Non-profit and commercial associations.
2. Government agencies, local government structures, governing bodies of extrabudgetary state and territorial funds.
3. Securities
4. Individual entrepreneurs, private notaries, lawyers and other similar entities.
5. Representative offices / branches and other structuraldivisions of enterprises established under the laws of foreign countries located in 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.

Regulatory accounting

402-FZ used in the management of budgetary assets andobligations of the Russian Federation, the regions and the Ministry of Defense, the implementation of operations that change them. Its provisions also apply to the reporting of expenditure and income items. The articles of the act are used in the implementation of the formation of documentation by the trustee for the material values ​​transferred to him, as well as in the management, by one of the participants of a simple partnership, in the reporting of material values ​​and related objects. The requirements of the law apply to accounting during the execution of an agreement on the division of manufactured products, unless otherwise provided for in Federal Law No. 225.

Exceptions

Legal act about accounting (402-ФЗ) not used in the synthesis of information required for reporting for:

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

Objects

402-ФЗ "About accounting" (last edition) establishes a list of categories for which primary documentation is compiled. These objects include:

1. Facts of economic activity of the enterprise.
2. Commitments.
3. Assets.
4. Sources of financing the work of the enterprise.
5. Costs.
6. Revenues.
7. Other objects, if set by standards.

The obligation to generate documentation

402-ФЗ "About accounting" (last edition) contains a number of prescriptions for economicsubjects. In particular, it establishes the obligation to keep records, unless otherwise provided by other legal acts. From need to keep accounting can be released:

1. Индивидуальные предприниматели, лица, practicing privately. They may not generate documentation if, according to NK, they take into account expenses and revenues or only receipts, as well as other taxable objects in the manner provided for therein.
2. Representative offices / branches of organizations createdin the manner prescribed by legal acts of a foreign state located in the territory of the Russian Federation. These entities may not form documentation if, in accordance with the TC, they take into account expenses and incomes, as well as other objects of taxation according to the rules established in the Code.

Nuances

Legal act about accounting (402-ФЗ) prescribes continuous compilation of information inprimary documentation from the date of state registration of the enterprise until the end of its activities in connection with the liquidation / reorganization. Organizations that have become participants in development, research, and commercialization programs can use simplified reporting methods for small businesses. This provision is valid in the case of obtaining the corresponding status, according to Federal Law No. 244.

Organizational moments

Law 402-FZ "On Accounting"provides for a number of rights and obligations for enterprise managers and individual entrepreneurs. In particular, reporting and storage of documentation is organized by the director of the organization. If the individual entrepreneur or a private practitioner keeps records, in accordance with the provisions of Federal Law No. 402, they have duties similar to those established for heads of enterprises. The director of the organization, with the exception of the credit, places the corresponding duties on the state specialist. He may also enter into an agreement with a third-party accounting services company. The head of the credit institution is required to assign the relevant duties only to a state specialist. Individual entrepreneur has the right to independently keep records.

Requirements for specialists

Law 402-ФЗ prescribes that in OJSC, exceptcredit organizations, insurance companies, private pension funds, investment joint-stock funds, as well as other companies whose securities have been admitted to circulation on stock exchanges, in governing bodies in non-budgetary territorial and state funds, Ch. the accountant or specialist performing his functions should have:

1. Higher vocational education.
2. Work experience in the specialty.It should be associated with the maintenance of accounting, reporting or auditing activities. Experience should be at least three of the last five years, and if there is no higher vocational education, at least 5 of the last 7 years (calendar years).

Specialist must not have outstandingcriminal record for economic crimes. Additional requirements for an officer acting as an accountant may be provided for by other laws. If the company enters into a contract 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 characteristics. The chief accountant in a financial institution must meet the requirements determined by the Central Bank.

Disagreement

In some cases, controversial issues may occur.moments. In particular, there may be disagreements regarding the reporting between the director of the enterprise and the official in charge of accounting. In such situations, the data present in the source document is not accepted / accepted by the specialist for registration and accumulation in the relevant registers by written order of the head. The head is solely responsible for the information created as a result of these actions. Similarly, the issue is resolved about the reflection of the accounting object. In this case, the order of the head is also made, according to which, the specialist shows / does not show the controversial asset. The responsibility for the accuracy of the financial result and the movement of funds is the director.