With the aim of establishing a modest foundation for the study of accounting systems in the Soviet Union and Eastern Bloc countries, this paper provides a general overview of the characteristics and developmental process of Soviet accounting. The periodization of the accounting system's development is based on the two major reforms in Soviet economic history: the Credit Reform and the Kosygin Reform. Soviet enterprise accounting is a component of the national economic accounting system used for the formulation and control of national economic plans, and its distinguishing characteristic is that it focuses on the composition and utilization of enterprise funds related to the process of socialist expanded reproduction. During the formation of the socialist accounting system, following the October Revolution and the establishment of the socialist economic system, capitalist accounting concepts such as capital stock and depreciation reserves were renamed to charter funds and depreciation funds, and workers were trained as accountants in an attempt to popularize accounting. During the establishment of the socialist accounting system, the inter-enterprise credit system was abolished, a non-cash settlement method through account transfers at the National Central Bank was adopted, and a unified national economic accounting system reflecting the fund circulation between enterprises and government finance was completed. After the Kosygin Reform, a substantive system of independent cost accounting (khozraschet) was established, and a profitability index was adopted as a unified evaluation criterion for each enterprise.