Dynamics of normative regulation of accounting for intangible assets: from the discussed Draft to the adopted FSBU

Abstract

According to the Order of the Ministry of Finance of Russia dated May 30, 2022 No. 86n, a new accounting standard FSBU 14/2022 “Intangible Assets” was adopted. Like any other entity, healthcare entities will need to apply the rules in this Standard to account for their intangible assets. The adoption of FSBU 14/2022 “Intangible Assets” was preceded by a rather lengthy discussion of the Projects of this FSBU, in particular the FSBU Project “Intangible Assets”, developed by the Accounting Development Fund “National Non-State Accounting Regulator “Accounting Methodological Center” (Foundation “NRBU “BMC”). In order to study the dynamics of changes in accounting regulations, it is of interest to compare the approaches to accounting for intangible assets proposed in the FSBU Project “Intangible Assets” and included in the approved FSBU “Intangible Assets”. It is also important to assess the differences between the adopted standard and its Draft. These differences indicate a general trend in the development of regulatory regulation of accounting objects on the example of regulations for accounting for intangible assets. At the heart of the Russian Accounting Reform Program (during the implementation of which new Russian FSBs are adopted) is the focus on bringing the rules for accounting for objects in the FSB with the regulations of International Financial Reporting Standards (IFRS). In this regard, it is important to study the question of the extent to which the adopted FSBU “Intangible Assets” brings the accounting of intangible assets closer to the regulations of IAS 38 “Intangible Assets” in comparison with such convergence with this international standard of regulations of the FSBU Project “Intangible Assets”. The results of such a study will complement the general characterization of the direction of the development of regulatory accounting for Russian organizations. The research methods were comparison, analysis, synthesis, grouping method, systemic and logical approaches. As a result of the study, the article revealed that the adopted FSBU 14/2022 included many of the regulations for accounting for intangible assets presented in the FSBU Draft. At the same time, it is shown that there are regulations that distinguish FSBU 14/2022 from the discussed FSBU Draft. The high degree of convergence of the FSBU 14/2022 regulations with the IAS 38 regulations is substantiated, while maintaining a number of significant differences between Russian and international standards.