Federal Accounting Standards Research Articles

Развитие финансового и управленческого учета для повышения эффективности отрасли садоводства

Abstract. The purpose of the study is to develop approaches to the construction of accounting and information support for the production management system of planting material for horticulture. Methodology and methods. The methodological basis was a systematic and integrated approach to the study of the problems of accounting in horticultural organizations. Both general theoretical, universal, and specific research methods were used (monographic method; analysis and synthesis; statistical-economic, computational-constructive and accounting modeling method). Results. The article shows that in order to reduce import dependence, horticulture on an innovative basis has been intensively developing in recent years. The drastic changes taking place in the development of the horticulture industry necessitate a revision of the approach to managing this industry. At the same time, the construction of an adequate management system for the sustainable development of fruit and berry production is impossible without relevant accounting and information support for all management functions. The current state and development trends of the horticulture industry in Russia as a whole and in the Voronezh region are considered. The analysis of the dynamics of the laying of gardens and nurseries in the region is presented. It is proved that one of the key factors in the development of horticulture is the production of high-quality domestic planting material. The assessment of state support for the planting and cultivation of seedlings and young gardens was carried out. The conclusion is made about the inconsistency of the existing accounting and management accounting system for the cost of nursery products with the tasks of the management system. The scientific novelty lies in the adaptation of financial accounting methods to the requirements of federal accounting standards, among which accounting models are proposed for reflecting the facts of economic life on accounting accounts in the context of using various methods of evaluating seedlings; the development of methods and systems of managerial accounting of nursery costs in relation to options for the organization and technology of production of seedlings and modern conditions of functioning of agribusiness in horticulture; justification approaches to budgeting the cost of seedlings.

Application of fair value for non-financial assets valuation by higher education institutions: Status and prospects

Subject. This article examines the state-of-the-art and prospects for the use of fair value for the valuation of non-financial assets in higher education institutions. Objectives. The article aims to consider the areas of concern associated with the use of fair value for the valuation of non-financial assets in higher education institutions, in particular, for fixed assets, analyze the methods for determining fair value, and compare the main provisions for establishing fair value in accordance with the International Financial Reporting Standards and the Federal Accounting Standards for Fixed Assets for the Public Sector. Methods. For the study, I used comparison, systematization and generalization. Results. The article systematizes the main theoretical approaches to the study of issues related to the valuation of non-financial assets in accordance with the International Public Sector Financial Reporting Standards and Federal Accounting Standards. Relevance. The above basic provisions for the use of fair value for the measurement of non-financial assets by higher education institutions can be used for theoretical study of the issue, as well as in practical activities in State (municipal) budgetary and autonomous institutions.

Depreciation and impairment of non-financial assets in higher education institutions: Analysis and evaluation

Subject. The article investigates the state of presentation of information on depreciation and impairment of non-financial assets by Russian universities, and prospects for its improvement. Objectives. The aim is to summarize and systematize the provisions of the current federal accounting standards for public finance, governing the depreciation and impairment of non-financial assets, study the practice of accounting policy formation by higher education institutions in relation to non-financial assets based on the specifics of these organizations’ activities. Methods. The study employs observation, comparison, generalization, and interpretation, the analysis of the content of federal accounting standards for public finance, accounting policies for depreciation and impairment of non-financial assets of 26 higher education institutions in Russia. Results. Most higher education institutions do not consider the procedure for calculating depreciation of the structural part of fixed assets. Some universities apply the procedure for calculating amortization of intangibles that does not comply with the provisions of the federal accounting standards for public finance in relation to intangible assets with indefinite useful life. No university identifies signs of impairment or reflects non-financial assets less impairment losses in accounting statements, thus preventing their objective evaluation. Conclusions. I offered a unified approach to identifying external and internal signs of possible impairment of assets by higher education institutions, given the specifics of their activities. The paper established a sequence of actions when testing a cash-generating asset for impairment.

Analysis of existing rules and practices for disclosing information about fair value in financial statements

One of the most important for modern accounting and reporting is fair value. Moreover, this is typical for systems of both Russian and international standards (hereinafter referred to as RAS and IFRS). Indeed, fair value, which is actively used in IFRS, has now been introduced into almost all domestic federal accounting standards (hereinafter referred to as FAS). In this regard, the importance of issues related to the indicated value cannot be overestimated. In our previous works, we explored issues related to the interpretation and calculation of fair value. In this article we turn to the analysis of disclosure of information about fair value in financial statements. When carrying out research, methods such as analysis and synthesis, grouping method, comparison, analogy method, logical approach, systematic approach were used. As a result of the research carried out in this work, the main problems associated with the disclosure of information on fair value in the reporting of modern organizations have been identified. The results obtained in this article will be useful to a wide range of readers interested in current issues related to the preparation of financial statements under RAS and IFRS; they can be used in the educational process of higher educational institutions, in the practical work of accounting departments of modern organizations, as well as in the development and improvement of relevant domestic and international accounting standards.

Non-financial asset valuation at higher education institutions: The theoretical and practical aspects

Subject. This article focuses on the issues of initial and subsequent valuation of non-financial assets at Russian higher education institutions. Objectives. The article aims to analyze the provisions of the accounting policy of educational institutions for higher education in relation to the valuation of non-financial assets, compare them with the Federal Accounting Standards, identify problematic aspects, and determine the areas for their solution. Methods. The regulations on the accounting policy of twenty six higher education institutions of Russia in relation to the valuation of non-financial assets are the basis of the study. For the study, I used observation, comparison, generalization, and interpretation. Results. The article presents the results of the analysis of the composition of costs incurred by institutions in the process of creating an object of fixed assets. It also offers recommendations on the inclusion of interest expenses on long-term liabilities in the initial cost of non-financial assets during their construction (creation) using own resources and options for assessing the value of replaced (disposed) parts of fixed assets, and a methodology for their calculation. A list of expenses included in determining the initial cost of intangible assets created by higher education institutions on their own is also presented. Conclusions. To improve the accounting of transactions for the acquisition and creation of fixed assets, it is advisable to establish the procedure for allocating the costs of delivery of several fixed assets in the accounting policy of educational organizations, determine the methods of attributing additional borrowing costs, as well as establish the criterion for the materiality of such expenses. It is concluded that higher education institutions should have a unified methodology for accounting costs when carrying out regular scheduled overhauls, technical inspections and maintenance of fixed assets.

Peculiarities of interpretation of transactions with shares and shares of other

The subject of the article is the peculiarities of interpretation of transactions related to financial investments in shares and shares of limited liability companies. The methodological basis of the study is analysis, synthesis, deduction, scientific abstraction and generalization of the results obtained. The study is based on an analysis of domestic federal accounting standards, international financial reporting standards, as well as economic literature on the topic. The article highlights terminological inconsistencies in relation to the name of assets reflecting financial investments in shares and shares of other organizations both within Russian standards and between Russian standards and IFRS. The author presents the relationship between the classifications of investments in shares and shares of other organizations with their presentation in the balance sheet and the way their value changes. A proposal has been made to introduce a classification for financial instruments based on a risk–based approach. The article analyzes regulatory documents in order to substantiate their inconsistency and inconsistency in relation to the classification of assets to improve the usefulness of reporting data provided to external users. The choice of a more objective classification of assets for external users to improve the usefulness of reporting information is justified.

Adaptation of the Russian accounting system for non-financial assets in accordance with the International Public Sector Accounting Standards: A problem analysis. Part 2

Subject. This article analyzes the areas of concern of accounting for non-financial assets in State-funded (municipal) and autonomous institutions in accordance with the International Public Sector Accounting Standards. Objectives. The article aims to identify and analyze the areas of concern associated with the adaptation of the Russian system of accounting for non-financial assets in accordance with the International Public Sector Accounting Standards based on a comparison of the main provisions of the International Financial Reporting Standards and the Russian Federal Accounting Standards for the public sector. Methods. For the study, I used the methods of comparison, systematization, and data generalization. Results. The article systematizes the main theoretical approaches to the study of issues in the field of adaptation of the Russian system of accounting for non-financial assets in accordance with the International Public Sector Accounting Standards. Relevance. The results of the study and the theories of adaptation of the Russian system of accounting for non-financial assets in accordance with the International Public Sector Accounting Standards can be used for the theoretical study of this issue, as well as in practical activities in State-owned (municipal) publicly-funded and autonomous institutions.

Problematic aspects of the normative regulation of modern Russian accounting

Currently, a widely discussed topic is the future directions of development of Russian accounting and the extent to which the regulations of international financial reporting standards (IFRS) will continue to be used in the development of the rules of Russian federal accounting standards (FSBU). The article explores these issues. To understand the trends in the future development of Russian accounting, its evolution from the beginning of the transition of the Russian socialist economy to a market economy to the present time is examined. The regulatory documents that determined the directions of development of Russian accounting since the early 90s of the 20th century are considered. until now. Scientific discussions regarding the directions of development of Russian accounting are studied. The degree of use of IFRS regulations in the new Russian Federal Accounting Standards (FSBU) adopted in recent years is investigated. A significant degree of convergence of the methodological approaches of the new FSBUs with the regulations of international standards, which are analogues of these federal standards, is revealed. The innovation of the new FSBU regulations is a direct reference to the use of certain international standards for accounting in certain situations. Based on the conducted research, the conclusion is substantiated about the continuing trend of convergence of Russian accounting regulations with the rules of IFRS, as well as the expansion of the scope of use of international standards, which are approved for use on the territory of the Russian Federation in accordance with Orders of the Ministry of Finance of Russia.

Adaptation of the Russian Accounting System for non-financial assets in accordance with the International Public Sector Accounting Standards: A problem analysis. Part 1

Subject. This article analyzes the areas of concern of accounting for non-financial assets in State-funded (municipal) and autonomous institutions in accordance with the International Public Sector Accounting Standards. Objectives. The article aims to identify and analyze the areas of concern associated with the adaptation of the Russian system of accounting for non-financial assets in accordance with the International Public Sector Accounting Standards based on a comparison of the main provisions of the International Financial Reporting Standards and the Russian Federal Accounting Standards for the public sector. Methods. For the study, I used the methods of comparison, systematization, and data generalization. Results. The article systematizes the main theoretical approaches to the study of issues in the field of adaptation of the Russian system of accounting for non-financial assets in accordance with the International Public Sector Accounting Standards. Relevance. The results of the study and the theories of adaptation of the Russian system of accounting for non-financial assets in accordance with the International Public Sector Accounting Standards can be used for the theoretical study of this issue, as well as in practical activities in State-owned (municipal) publicly-funded and autonomous institutions.

National concept for the development of integrated reporting in Russia

The growing attention of the state to the issues of national sovereignty in different areas has predetermined the urgency of considering the current state of affairs in the field of corporate reporting from this position. The purpose of the study is to substantiate the need for institutionalization of the concept of integrated reporting as the model of corporate reporting that best meets national interests. Based on a study of Russian and foreign practice of normative regulation of corporate reporting, as well as transformation processes to standardize reporting in the field of sustainable development that have occurred in the last few years on a global scale, the need to replace the Concept for the development of non-financial reporting with the national concept for the development of integrated reporting is substantiated. The author proposed to empower the Ministry of Finance of the Russian Federation with the function of a regulator in the field of integrated reporting, which will allow to develop a system of standards for the latter, interconnected with the federal accounting standards and aimed at providing a holistic view of an economic entity. The article identifies the main elements of the institutional environment necessary for the introduction of integrated reporting into management practice. The research was carried out using such general scientific methods as analysis, synthesis, comparison, generalization, abstraction. Its results may be of interest to national regulators of corporate reporting, the scientific and professional community, as well as economic entities interested in increasing transparency and accountability.

Accounting of payments under a commercial concession agreement

In accordance with the Program for the Development of Federal Accounting Standards, Federal Accounting Standard 14/2022 “Intangible Assets” entered into force on January 1, 2024. At the same time, many questions arise about the application of this standard in various and frequently encountered situations, in particular, when concluding commercial concession (franchising) agreements, under which lump-sum payments and royalties are paid. Using the example of various practical situations, the article considers the procedure for recording non-exclusive rights to use the trademark of another franchisor organization in the accounting of a franchisee organization. During the research, such methods as analysis and synthesis, the method of comparison, grouping, analogy, logical and systematic approaches were used. The research results obtained in this article can be applied in the practical work of modern organizations, in the educational process of higher educational institutions and in the development and reform of regulatory documents on accounting, reporting and auditing. The results presented in this paper will also be useful to a wide range of readers interested in modern problems of accounting, reporting and auditing at the domestic and international levels.

Current issues in calculating the discount rate in Russian and foreign accounting

Thanks to the new Federal Accounting Standards (FAS), in Russian accounting it is increasingly necessary to determine the present value, which in turn is impossible without calculating the discount rate. The active use of the indicated value and rate is also expected in the IFRS system. At the same time, our research has shown that the calculation of the discount rate is associated with a number of complex issues in both Russian and foreign accounting. These questions are analyzed in this article. When carrying out research, methods such as analysis and synthesis, grouping method, comparison, analogy method, logical approach, systematic approach were used. As a result of the research, this paper presents the author’s view on current issues of calculating the discount rate in Russian and foreign accounting. The results obtained in this article will be useful to a wide range of readers interested in modern problems of Russian and international accounting. In addition, the results presented in this work can be used in the educational process of higher educational institutions, in the practical work of accounting departments, as well as in the development and improvement of relevant domestic and foreign regulatory documents on accounting.

Features of registration of primary documentation for accounting purposes

In accordance with the Program for the Development of federal accounting standards, a new Federal Accounting Standard 27/2021 “Documents and Document management in Accounting” was adopted back in 2021, but questions about its application in practice do not stop. Despite the fact that the draft of this standard was developed by the state regulator of accounting — the Ministry of Finance of the Russian Federation, there is a need to link this document with other legal norms. The article uses examples to reveal the order, composition and procedure for processing primary documents in various situations and reveals the possibilities of rational but legitimate document management. During the research, such methods as analysis and synthesis, comparison, grouping, analogy, logical and systematic approaches were used. The research results obtained in this article can be applied in the practical work of modern organizations, in the educational process of higher educational institutions and in the development and reform of regulatory documents on accounting, reporting and auditing. The results presented in this paper will also be useful to a wide range of readers interested in modern problems of accounting, reporting and auditing at the domestic and international level.

Calculation of present value for the purposes of determining fair value in accounting: analysis of the main approaches and related problems

Thanks to the references in the Russian Federal Accounting Standards (FAS) to IFRS 13, when determining fair value, Russian and international accounting now contain the same rules for calculating this valuation, including on the basis of present value. However, these rules cannot be called very simple. In addition, they are quite unusual for Russian accountants. In this regard, the study of issues related to the calculation of discounted value used to determine fair value seems very relevant. This study is the subject of this article. When conducting research, methods such as the grouping method, analysis and synthesis, comparison, method of analogies, logical approach, and systematic approach were used. As a result of the research, this work analyzes the main approaches to calculating present value used to determine fair value, and identifies the most important problems arising in this area. The results obtained in this article will be useful to a wide range of readers interested in modern problems of Russian and international accounting; they can be used in the educational process of higher educational institutions, in the practical work of accounting departments, as well as in the development and improvement of relevant domestic and foreign regulatory documents on accounting.

Regulatory regulation of reporting information on Inventories: current state and development prospects

The article presents the results of a study of regulations on the formation of reporting information on the inventories of organizations in accounting (financial) statements. According to the Program for the Development of Federal Accounting Standards, it is planned to adopt a federal standard dedicated to accounting (financial) reporting, which, in particular, will include rules for drawing up explanations to statements containing additional information about accounting objects, including the inventories of organizations. In order to implement this Program, the Russian Ministry of Finance has developed the draft FSBU 4/2023 “Accounting (financial) reporting”. This article examines the regulations presented in this project for the generation of reporting information on inventories. The results of a comparison of the requirements for the generation of reporting information on inventories set out in the draft FSBU 4/2023 are presented with the regulations for the disclosure of such information in PBU 4/99 “Accounting statements of an organization”, in Order of the Ministry of Finance of Russia No. 66n dated July 2, 2010 “On forms of financial statements of organizations” and in FAS 5/2019 “Inventories”. Both expedient and controversial aspects of regulations on the formation of reporting information on inventories are substantiated. Recommendations for resolving controversial methodological issues are presented.

Investment activity in intellectual property objects and their use elementary assessment in the company’s activities

The article examines the current trends of investment activity in intellectual property objects. The criteria for recognizing the results of intellectual activity as part of the intangible assets of the enterprise are defined. The economic and legal characteristics of the results of intellectual activity of modern business are given. The main initial indicators and the principles of their determination, in accordance with the new federal accounting standards, for the purposes of assessing the use of intellectual property objects are presented. Economic indicators for assessing the use of intangible assets in the activities of the copyright holder’s enterprise are proposed.

ИНВЕНТАРИЗАЦИЯ ПО ФЕДЕРАЛЬНОМУ СТАНДАРТУ КАК ИНСТРУМЕНТ ВНУТРЕННЕГО КОНТРОЛЯ ОРГАНИЗАЦИИ

The article discusses the changes caused by the introduction of federal accounting standards FSB 5/2019 “Stocks” and FSB 28/2023 “Inventory”. The changes affected the determination of the value of an inventory item during inventory, the rules for evaluating and conducting inventory, and the concept of fair value. The objects have also been identified, information about which is subject to disclosure in the accounting statements of the organization.

Научная дискуссия об экономической сущности нефинансовых активов в учреждениях высшего образования

Subject/topic. The subject area of our research is non-financial assets of educational organizations of higher education. In accordance with the Federal Law “On Education in the Russian Federation”, the main goals of the activities of these organizations are educational activities in educational programs of higher education and scientific activities.
 Goals/objectives. The purpose of the article is to study the economic essence of non-financial assets in higher education institutions. To achieve the set goal, the following tasks were set and solved within the framework of the study: definitions of assets in the economic literature were systematized; the characteristics of rights to receive economic benefits are presented in accordance with the conceptual framework for the presentation of financial statements; a comparative description of the concepts “useful potential” and “future economic benefits” is given in accordance with the current federal accounting standards for public sector organizations.
 Methodology. The methodological basis was such methods as comparison, method of systematization and generalization of data.
 Results. Based on a study of the definition of assets in the economic literature (Table 1), the author’s definition of assets of educational organizations of higher education is presented, a comparative description of the concepts of “useful potential” and “future economic benefits” is given in accordance with the current federal accounting standards for public sector organizations.
 Scope of application of the results. The results of the study can be used both in theory and in practice of the development of non-financial assets in higher education institutions.
 Conclusions/Significance. Research into the theoretical aspects of the economic essence of non-financial assets as an object of accounting supervision in higher education institutions contributed to the formation of our own definition of the essence of this type of asset.

СООТНОСИМОСТЬ РОССИЙСКОГО ПОДХОДА К СТАНДАРТИЗАЦИИ УЧЕТНО-ХОЗЯЙСТВЕННОГО ПРОЦЕССА И ЕГО ЗАРУБЕЖНЫХ АНАЛОГОВ (МСФО И USGAAP)

The article examines the process of development of the modern Russian system of accounting and economic activity in the context of the influence of Western (primarily North American - US GAAP and international – IFRS) accounting practices on it; substantiates the expediency of a deeper perception of the ideas of accounting correlation with the managerial nature contained in the concept of IFRS. The author states the existence of structural problems in the process of reforming accounting in Russia in connection with the chosen course of convergence of federal accounting standards (FSB) with international ones and indicates ways of possible solutions to these problems, including through the creation of a system of domestic standards (by analogy with the FSB) in the field of management accounting

Changes in income accounting in various situations

In accordance with the Program for the development of federal Accounting standards, new standards “Accounting statements of organizations” and “Income” will be adopted in the next five years. Due to the fact that the drafts of these standards are being developed by the state accounting regulator and the non-state accounting regulator, the ncomposition of accounting indicators is currently not synchronized. The article uses examples to reveal the accounting procedure for income from the main activities of organizations (revenue) in various situations and the disclosure of other indicators accompanying the recognition of revenue in accounting statements. During the research, such methods as analysis and synthesis, comparison, grouping, analogy, logical and systematic approaches were used. The research results obtained in this article can be applied in the practical work of modern organizations, in the educational process of higher educational institutions and in the development and reform of regulatory documents on accounting, reporting and auditing. The results presented in this paper will also be useful to a wide range of readers interested in modern problems of accounting, reporting and auditing at the domestic and international level.