Abstract: Effective management at the state level and at the level of each enterprise directly depends on the developed effective accounting policy. In Ukrainian realities, insufficient attention is paid to the process of accounting policy formation at enterprises, both from the side of the state and from the side of the owners of enterprises and the accounting service. Accounting policy is the first and one of the main components of accounting and provides an understanding of the content of financial statements of enterprises. The main problem of the formation of the accounting policy, which has not yet been fully resolved in Ukraine, lies in the regulatory documents that regulate the accounting policy. There is no unified approach to the structure, the undisclosed influence of its elements on the formation of indicators in financial reports. Accounting policy is one of the main tools for managing the accounting and reporting process. It should determine the company’s long-term development strategy. For the effective formation of the accounting policy, it is necessary to take into account the strategic, operational, priority goals of the enterprise. It should solve the tasks set by the management apparatus regarding management accounting for decision-making, provide uniform requirements for the formation of financial statements for the attractiveness of investors. Accounting policy has a great influence on indicators of the cost of production, indicators of the financial state of the enterprise, management of costs, financial results and accrued taxes.