GOLDEN ERA IN THE DEVELOPMENT OF ACCOUNTING THEORY

The socio-economic environment in which the enterprise operates is constantly being transformed; accordingly, accounting must be functionally improved. Accounting theory basis of science. It provides an opportunity to improve methodical support and methods expand business entities' capabilities independently form internal carriers accounting, economic, financial, social other information. article devoted disclosing most famous theories 15th-19th centuries (the golden era theories), Professor Oleksandr Galagan classified. study results show that over five (XV-XX), grew from a craft art science due formation development own theories. theoretical aspect this period significantly outstripped components economic In addition developing eight elements method, scientists paid great attention mission society, expanding its tasks functions. was found scope depth during can demonstrated by selecting nine vivid after works Luca Pacioli Benedetto Cotrugli. All these divided into two main groups: 1) metaphysical theories; 2) positive all founders positioned as essential component science, so-called “mind” managing firm state. research classified regarding teachings explain type activity certain laws accepted humanity. his opinion, highest among were nature. has been proven should for provisions identified will substantiate further on causality characteristic sciences relevant today.