Basic terms, elements of functions and types of accounting reporting

Abstract in Russian: the article analyzes the basic concepts, elements and types of financial statements, studied the functions of financial statements. The relevance of this topic is predetermined by the fact that according to the financial statements, the indicators of the planned targets are analyzed, deviations of actual indicators from the planned targets and normative are established, the possible consequences are estimated and the users of the financial statements are interested in the activities of one or another organization. Each user has their own reporting requirements, as various decisions are made on the basis of the reporting information in relation to the organization.