Features of The Accounting Cycle Generalization of Current Account Data

English Abstract: The article deals with the components of the accounting cycle of the enterprise as a structural element of the economic environment. With this in mind, the improvement of the processing cycle of accounting information is relevant in the organization of the accounting process. The object of the study was the process of formation of the accounting cycle and generalization of accounting data in the financial statements of the enterprise. The methodical toolkit is singled out as a way of solving the set goal in the process of research of the enterprise accounting cycle: methods of logical generalization, methods of formalization, methods of induction and deduction. According to the results of the study, the main specific factors for the national accounting standards were identified and identified the factors of influence on the organization of the accounting process of the enterprise, which made it possible to take into account a number of features of periodic reporting on the reliability of the results of the enterprise. On the basis of the conducted research, the characteristic of the stages of the processing of accounting information within the framework of a single accounting system has been formed and detailed. The conducted research made it possible to identify and form, based on the information provision, the stages of the accounting cycle, to set the procedure for summarizing the information in the forms of financial reporting of the enterprise. The obtained research results will provide the possibility of reliable coverage of the accounting information for both external and internal users. The prospect of further research in the identified scientific direction is the study of a range of topical issues regarding strategic ways to improve the process of consolidation of financial statements of subsidiaries in the parent; share participation in joint and foreign enterprises; detection of incorrect mistakes of past years and related corrective actions; studying the methodology of revaluation of financial statement articles; other information, disclosure of which is provided by the relevant international and national accounting standards