The article discusses how accounting policies are set and the differences between Russian and international standards for financial reporting. The authors stress the importance of following the law and not neglecting owners and investors' interests when simplifying accounting processes. They found that making accounting policies more transparent can attract potential investors. To enhance internal users' interest in accounting information, the authors recommend expanding the policy's coverage of cost accounting and management practices. However, focusing too much on reducing accounting costs can lower a business's appeal to investors due to less financial transparency and a smaller amount of disclosed information in financial reports.