PROFESSIONAL JUDGMENT OF THE ACCOUNTANT WHEN SELECTING THE VALUATION OF ACCOUNTING OBJECTS

Abstract

In international financial reporting standards, professional judgment is widely used in the preparation of financial statements. The Russian reporting standards only indirectly contain the appropriateness of the application of professional judgment, but there is no interpretation of the definition. The formation of reliable accounting information, and its disclosure in the statements depends on professional judgment. The article presents the results of the study in the regulatory acts and scientific literature of the essence of the accountant's professional judgment, identifies approaches to interpretation and justifies the importance of professional opinion in the formation of the accounting policy of the organization in terms of the methodological aspect when choosing the assessment of accounting objects.