Accountant Professional Judgment: Definition of Concepts and Content

The article is devoted to the substantiation of what constitutes "professional judgment of accountant", its structure and scope. The analysis of scientific approaches to the definition of "professional judgment of accountant" was made and its author`s definition was offered. It was justified that "professional judgment of accountant" should be viewed from two perspectives: performing of functions and tasks of accounting (general definition); compilation of accurate and relevant information for users in financial statements (special definition). In the general sense the professional judgment of accountant is the use of necessary skills, knowledge and experience in the context of management, accounting standards, taxation, management accounting and professional ethics in taking of reasonable decisions aimed at implementation of accounting tasks. For the purposes of financial statements preparation under the professional judgment of accountant should be understood the application of the necessary skills, knowledge and experience in the context of accounting standards and professional ethics in taking of reasonable decisions aimed at delivery of accurate and relevant information for users in financial statements.