Lagovska Olena, Doctor of Economic Sciences, Professor of the Department Accounting and Auditing, Zhytomyr Polytechnic State University, Zhytomyr, Ukraine

ORCID ID: 0000-0001-9517-0499
e-mail: lagovskaya1@meta.ua

Loskorikh Gabriella, Ph.D student of the Department Accounting and Auditing, Zhytomyr Polytechnic State University, Zhytomyr, Ukraine

ORCID ID: 0000-0002-5402-7220
e-mail: gobika.loskorih@gmail.com

Formation of Accounting Policy in IT Enterprises

Introduction. In order to ensure the sustainable development of IT enterprises, timely submission of information in certain sections is necessary. An important tool in this task is accounting policy, the formation of which in IT enterprises has its own peculiarities. Given the rapid development of this field only in recent years, this issue is practically not researched among scientists and has a number of unresolved aspects in practice.

Purpose. The purpose of the article is to identify the specific accounting entity of IT enterprises with the disclosure of elements for each of them.

Results. The specificity of the activity of IT enterprises and the work of scientists in the field of accounting policy formation is investigated. Generalized Objects and Accounting Policies for IT Businesses. In particular, the specifics of determining the elements of accounting policies for the following objects are substantiated: intangible assets (the order of establishment and change of useful life; the establishment of groups (classification) for revaluation; the use of depreciation methods; amounts of revaluation to retained earnings; conditions of increase of original cost; procedure for determining liquidation value; procedure for applying the methodology for determining the amount of impairment loss a procedure for determining recovery utility benefits from the procedure for writing off (liquidation)); expenses for future periods and works in progress (composition of expenses for future periods; the procedure for writing off after the commissioning of the software; the method of calculation of work in progress); security (types of security of the IT enterprise; the order of accounting display of formation of security and its use); revenues (date of recognition of the proceeds from the sale of own or purchased software; method of estimating the degree of completion of a service transaction); costs (list of costs for the development and implementation of an IT product; method of cost accounting; procedure for writing off costs for software technical support). Emphasis is placed on the need to pay particular attention to the organization of analytical accounting in IT enterprises and to consolidate the chosen approach in the accounting policy order.

Conclusions. The results of the study can be used by executives and chief accountants of IT companies when formulating or reviewing their accounting policies. The following suggestions regarding the justification of objects and elements of accounting policies can be taken as a basis for the development of methodological guidelines for the organization and accounting of IT enterprises.

Keywords: IT company; accounting organization; accounting policy; element of accounting policy; object of accounting policy.

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