Preparing information on the financial situation by Russian educational organizations of higher education, according to International Public Sector Accounting Standards

Abstract

Subject. This article analyzes the practice of forming and disclosing information in Statements of Financial Position of Russian higher education institutions, compiled according to the requirements of International Public Sector Accounting Standards (IPSAS). Objectives. The article aims to investigate the structure and content of reporting on the financial position of Russian educational organizations, conduct a critical analysis of compliance with IPSAS Presentation of Financial Statements requirements, and identify and address the problems of information presentation and disclosure in the statements. Methods. For the study, I used observation, systematization, and a comparative analysis. Results. The article examines and describes the practical experience of the use of IPSAS in the preparation of reporting by Russian educational institutions participating in the Russian Academic Excellence Project (5Top100 Project), and presents certain results of the study of the Statement-of-Financial-Position structure and content. As well, the article presents an original single Statement format. Conclusions and Relevance. To ensure the comparability of the reporting data of various Russian higher education organizations, it is necessary to adhere to the uniform structure and content of the Statement of Financial Position. The results of the study can be used in the practical activities of the Russian economy public sector organizations, and the educational process of higher education institutions.