Accounting Policy of the Government Sector Entity at the Current Stage of Accounting Systems Development in Accordance with International Standards

The article defined notion of “accounting policy”, its contest, purpose and practical implementation.  Described main levels of accounting policy formation, their instruments that contribute and support the idea of harmonizing the accounting and financial reporting system in accordance with national and International regulations (standards). Proved the relevance and importance of research of accounting policy formation at the modern stage of development, in conditions where integrity of the accounting system and continuity of the accounting process are the basis for management strategic decisions making. Determined the peculiarities of formation of accounting policy for government sector entities at the modern stage of accounting system modernization. Considered the method of organization of creation the accounting policy of government sector entities through the system of stage-by-stage actions. Identified the content and elements of accounting policy, main target of which – ensuring the organization of comprehensive accounting process. Introduced number of risks which appear directly under the conditions of adaptation of public sector entities to the modern requirements of the accounting system, which has impact to the quality of accounting process and to the level of implementation of planned actions. Proved importance of accounting policy formation for government sector entities