This thesis is focused on analyzing the accounting policies in the area of non-current tangible assets in telecommunication industry. With developing capital markets and intensive liberalization and globalization over the last few decades, the need for aligning the accounting policies and standards, that regulate the recognition and measurement of economic categories in financial statements, had intensified. Because of this, over the last 10 years, there is a noticeable trend of convergence and harmonization of accounting standards, especially US GAAP and IFRS. All of this, made financial reporting even more complicated. This problem has been partially solved with companies’ obligations to present accounting policies in their financial statements. In this thesis, the main theoretical assumptions regarding accounting policies will be shown, including their application in companies. The main key driver for intensive liberalization and globalization over the last few decades was development of technology and telecommunications. In par with mentioned processes, telecommunication industry experienced incredible development and positioned itself as the main basis for development of many countries. Due to great investment costs and capital dependency, non-current tangible assets, especially infrastructure for networks, remain the basis for continued business operations for telecommunication companies. Developments over the last few years confirmed this proposition, so investments became even greater. Because of this utmost importance of non-current tangible assets in business operations of telecommunication industry, this thesis will present research on application of the accounting policies on recognition, valuation and write-offs of non-current tangible assets. For the purposes of research in this thesis, four telecommunication companies have been taken in the sample, one domestic and three foreign.