Features of formation of accounting (financial) and tax reporting by small and medium-sized businesses

Increasing the openness, availability and publicity of information on business development, financial results of activities and the success of the development strategy is an urgent problem for small and medium-sized businesses in modern conditions. The main source of information that characterize the results of financial and economic activity is the accounting (financial) statements, which small and medium-sized businesses are required to be in the traditional or simplified form on the basis of Russian legislation. Accounting (financial) reporting is a link between the organization and other market players. Carrying out appropriate analytical procedures based on the indicators of accounting (financial) statements will help the banker to decide on the feasibility of lending to small and medium-sized businesses; a potential investor, having analyzed the data of accounting (financial) statements, will decide on the investment of capital. Other external users - suppliers, contractors, public and government organizations are also interested in reliable accounting (financial) statements...