Estimated Liabilities as an Object of Accounting in the Public and Non-Public Sectors of the Economy

Abstract

The specifics of the activities of economic entities in the state and non-state sectors contributed to the isolation of accounting subsystems in these sectors, each of which was formed based on its organizational, technical and methodological foundations. Currently, the development of accounting in the Russian Federation is carried out in these sectors in accordance with IFRS in parallel, through the development of new federal accounting standards, the content of the norms of which often differ in relation to the same accounting objects. At the same time, the existing features of the organizations' activities in each sector should not cause discrepancies in approaches to the recognition and accounting of similar objects. In our opinion, developing federal standards, uniform approaches should be applied to the definition of objects, their classification, recognition, evaluation and disclosure of information about them in the reporting. One of the most difficult objects of accounting in both the public and non-governmental sectors are estimated liabilities. This article is devoted to the problematic aspects of their recognition and accounting through the creation of provisions. The result of the study is a comparative analysis of the legal regulation of the creation of provisions for estimated liabilities and the identification of problems of their formation in practice. This made it possible to classify provisions according to the criterion of the possibility of discounting them. It is offered to expand the list of grounds for creating provisions.