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


Legal act on accounting (402-ФЗ) establishes uniform requirements for the formation ofreporting. They are mandatory for all entities carrying out business activities, if it is specified in the regulations. Let's consider some articles of the act (briefly).

about accounting 402 FZ

Review 402-FZ "On Accounting"

The purpose of the document is the creation of a legal mechanism regulating the activity on reporting. The legal act on Accounting (402-ФЗ) extends its effect to the following economic entities:

  1. Non-commercial and commercial associations.
  2. State agencies, local government structures, management bodies of extra-budgetary state and territorial funds.
  3. The Central Bank.
  4. Individual entrepreneurs, private practitioners of notaries, lawyers and other similar entities.
  5. Representations / branches and other structuralsubdivisions of enterprises established under the legislative norms of foreign states on 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.

law of 402 FZ

Normative regulation of accounting

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


The legal act on Accounting (402-ФЗ) It does not apply to the compilation of information required for reporting for:

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

402 FZ about the latest revision


402-FZ "On Accounting" (latest version) establishes a list of categories in respect of which the primary documentation is prepared. To such objects carry:

  1. The facts of economic activity of the enterprise.
  2. Commitments.
  3. Assets.
  4. Sources of financing the work of the enterprise.
  5. Costs.
  6. Income.
  7. Other objects, if this is set by standards.

Obligation to form documentation

402-FZ "On Accounting" (latest version) contains a number of prescriptions for economicsubjects. In particular, it establishes the obligation to keep records, unless otherwise stipulated by other legal acts. From the need to conduct accounting can be released:

  1. Individual entrepreneurs, individuals,carrying out private practice. They may not form documentation, if, according to the Tax Code, they take into account expenses and incomes or only receipts, as well as other objects of taxation in the manner provided in it.
  2. Representations / branches of organizations establishedin the order established by legal acts of a foreign state, located on the territory of the Russian Federation. The said entities may not form documentation if, in accordance with the Tax Code, they take into account expenses and incomes, as well as other objects of taxation according to the rules established in the Code.

Law 402 FZ on accounting


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

Organizational moments

Law 402-FZ "On Accounting"provides for a number of rights and obligations for business leaders and entrepreneurs. In particular, reporting and storage of documentation is organized by the director of the organization. If an individual entrepreneur or a private practice entity keeps records, in accordance with the provisions of Federal Law No. 402, they bear responsibilities similar to those established for enterprise managers. The director of the organization, with the exception of credit, assigns the corresponding duties to a specialist in the state. He can also enter into a contract with a third-party accounting company. The head of the credit organization is required to assign the corresponding duties only to a specialist in the state. An individual entrepreneur has the right to keep records.

normative regulation of accounting 402 FZ

Requirements for specialists

Law 402-FZ prescribes that in OAO, except forcredit organizations, insurance companies, APFs, investment joint stock funds, as well as at other enterprises whose securities were admitted to circulation on stock exchanges, in management bodies in off-budget territorial and state funds, Ch. an accountant or a specialist performing his functions must have:

  1. Higher vocational education.
  2. Work experience by specialty.It should be related to the maintenance of accounting, reporting or auditing activities. Experience should be at least three of the last five years, and if higher vocational education is not available - at least 5 of the last 7 years (calendar).

The specialist should not have an outstanding / unavailableconvictions for economic crimes. Additional requirements for an official acting as an accountant may be provided for by other laws. If an enterprise enters into an agreement 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-mentioned characteristics. The chief accountant in a financial and credit organization must meet the requirements determined by the Central Bank.

brief review of 402 FZ about accounting


In some cases, disputes may arisemoments. In particular, there may be disagreement about the reporting between the director of the enterprise and the official conducting the accounting. In such situations, the data present in the primary document is not accepted / accepted by the specialist for registration and accumulation in the respective registers at the written order of the chief. The head is solely responsible for the information created as a result of these actions. In the same way, a question is solved regarding the reflection of the accounting object. In this case, the manager's order is also issued, according to which the specialist shows / does not show the controversial asset. The responsibility for the reliability of the financial result and the flow of funds is borne by the director.

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