FEDERAL LAW OF THE RUSSIAN FEDERATION

of November 21, 1996 No. 129-FZ

About financial accounting

Accepted by the State Duma on February 23, 1996

Approved by the Federation Council on March 20, 1996

Chapter I. General provisions

Article 1. Financial accounting, its objects and main objectives

1. Financial accounting represents the arranged system of collection, registration and generalization of information in terms of money on property, obligations of the organizations and their movement by continuous, continuous and documentary accounting of all economic activities.

2. Objects of financial accounting are the property of the organizations, their obligations and economic activities performed by the organizations in the course of their activities.

3. The main objectives of financial accounting are:

forming of complete and reliable information about organization activity and its property status, accounting records necessary for internal users - to heads, founders, participants and owners of property of the organization, and also vneshniminvestor, creditors and other users of accounting records;

providing with information necessary for internal and external users of accounting records for control of compliance with law of the Russian Federation in case of implementation of economic activities by the organization and their feasibility, availability and movement of property and obligations, use of material, labor and financial resources according to the approved regulations, standard rates and estimates;

prevention of negative results of economic activity of the organization and identification of intraeconomic reserves of ensuring its financial stability.

Article 2. The concepts used in this Federal Law

For the purposes of this Federal Law the following concepts are used:

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