The urgency of the publication is conditioned by the need to adapt the existing accounting and reporting principles to the needs of construction enterprises accounting, as there is a low level of coverage of this issue in scientific publications. The purpose of the study is to adapt the principles of accounting and reporting to the needs of financial results accounting of construction enterprises. General scientific and special methods of knowledge of economic phenomena and processes are applied. The study identifies the main principles of accounting and reporting. It is found that it is expedient to make changes to the national accounting standard 1, in particular to remove three principles (caution, historical (actual) cost, and periodicity). It is proposed to clarify the names of the principles of autonomy and continuity and to combine the notion of the "accounting principle" and "the principle of compiling financial statements» into a single terminological structure – the principle of accounting and financial reporting. The adaptation of the principles of accounting to the accounting of construction enterprises activity in the context of the process approach in construction is carried out. A grouping of the principles of accounting and financial reporting is done. The proposals of scientists concerning the principles of accounting are covered. It is determined that under present conditions the ongoing globalization processes necessitate additional informative filling of the reporting of business entities. Therefore, information on economic, social, and environmental aspects of the activity is provided in non-financial reportingcompany, financial
princles; accounting; financial results; construction company; reports; accounting regulations (standards)