This publication contains the main regulatory documents governing accounting: the Federal Law “On Accounting”, the Regulations on Accounting and Financial Reporting in the Russian Federation, as well as all current accounting provisions taking into account all the latest changes. The publication is intended for accountants, auditors, tax and financial services workers, students, graduate students, teachers of economic universities and colleges, lawyers and heads of organizations.
A series: Russian legislation
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by liters company.
Position
on accounting and financial reporting in the Russian Federation
Approved by Order of the Ministry of Finance of the Russian Federation dated July 29, 1998 No. 34n
(as amended by Orders of the Ministry of Finance of the Russian Federation dated December 30, 1999 No. 107n, dated March 24, 2000 No. 31n, dated September 18, 2006 No. 116n, dated March 27, 2007)
I. GENERAL PROVISIONS
1. These Regulations on accounting and financial reporting in the Russian Federation (hereinafter referred to as the Regulations) were developed on the basis of the Federal Law “On Accounting”.
2. The Regulations determine the procedure for organizing and maintaining accounting records, drawing up and submitting financial statements by legal entities under the legislation of the Russian Federation, regardless of their organizational and legal form (except for credit organizations and budgetary institutions), as well as the organization’s relationship with external consumers of accounting information ( as amended by Order of the Ministry of Finance of the Russian Federation dated December 30, 1999 No. 107n).
Branches and representative offices of foreign organizations located on the territory of the Russian Federation can keep accounting records based on the rules established in the country where the foreign organization is located, if the latter do not contradict the International Financial Reporting Standards developed by the International Financial Reporting Standards Committee.
3. The Ministry of Finance of the Russian Federation, on the basis of the Federal Law “On Accounting” and these Regulations, develops and approves provisions (standards) for accounting, other regulatory legal acts and methodological guidelines for accounting, forming a system of regulatory regulation of accounting and mandatory for execution organizations on the territory of the Russian Federation, including when carrying out activities outside the Russian Federation.
4. In accordance with the Federal Law “On Accounting”:
a) accounting is an orderly system of collecting, registering and summarizing information in monetary terms about the property, obligations of the organization and their movement through continuous, continuous and documentary accounting of all business transactions;
b) the objects of accounting are the property of organizations, their obligations and business transactions carried out by organizations in the course of their activities;
c) the main objectives of accounting are:
generation of complete and reliable information about the organization’s activities and its property status, necessary for internal users of financial statements - managers, founders, participants and owners of the organization’s property, as well as external users - investors, creditors and other users of financial statements;
providing information necessary for internal and external users of financial statements to monitor compliance with the legislation of the Russian Federation when the organization carries out business operations and their feasibility, the availability and movement of property and liabilities, the use of material, labor and financial resources in accordance with approved norms, standards and estimates;
preventing negative results from the organization’s economic activities and identifying internal reserves to ensure its financial stability.
5. To carry out the organization of accounting, the organization, guided by the legislation of the Russian Federation on accounting, regulations of the Ministry of Finance of the Russian Federation and bodies granted by federal laws the right to regulate accounting, independently forms its accounting policy, based on its structure, industry affiliation and others features of the activity.
6. Responsibility for organizing accounting in the organization and compliance with the law when carrying out business operations lies with the head of the organization.
7. The head of the organization can, depending on the volume of accounting work:
a) establish an accounting service as a structural unit headed by a chief accountant;
b) add an accountant position to the staff;
c) transfer on a contractual basis the maintenance of accounting to a centralized accounting department, a specialized organization or a specialist accountant;
d) keep accounting records personally.
The cases provided for in subparagraphs “b”, “c” and “d” of this paragraph are recommended to be applied in organizations that, according to the legislation of the Russian Federation, are classified as small businesses.
8. The accounting policy adopted by the organization is approved by order or other written order of the head of the organization.
In this case it is affirmed:
working chart of accounts, containing the accounts used in the organization, necessary for maintaining synthetic and analytical accounting;
forms of primary accounting documents used for registration of business transactions, for which standard forms of primary accounting documents are not provided, as well as forms of documents for internal accounting reporting;
methods for assessing certain types of property and liabilities;
the procedure for conducting an inventory of property and liabilities;
document flow rules and accounting information processing technology;
the procedure for monitoring business transactions, as well as other decisions necessary for organizing accounting.
II. BASIC RULES FOR ACCOUNTING
Accounting requirements
9. The organization maintains accounting records of property, liabilities and business transactions (facts of economic activity) by double entry on interrelated accounting accounts included in the working chart of accounts.
The working chart of accounts is approved by the organization on the basis of the Chart of Accounts approved by the Ministry of Finance of the Russian Federation.
Accounting for property, liabilities and business transactions (facts of business activity) is carried out in the currency of the Russian Federation - in rubles. Documentation of property, liabilities and other facts of economic activity, maintenance of accounting registers and financial statements is carried out in Russian. Primary accounting documents compiled in other languages must have a line-by-line translation into Russian.
10. To maintain accounting records in an organization, an accounting policy is formed that presupposes the property isolation and continuity of the organization’s activities, the sequence of application of the accounting policy, as well as the temporal certainty of the facts of economic activity.
The organization's accounting policies must meet the requirements of completeness, prudence, priority of content over form, consistency and rationality.
11. In the accounting of an organization, current costs for production of products, performance of work and provision of services and costs associated with capital and financial investments are accounted for separately.
Documentation of business transactions
12. All business transactions carried out by the organization must be documented with supporting documents. These documents serve as primary accounting documents on the basis of which accounting is conducted.
The requirements of the chief accountant (hereinafter referred to as the chief accountant also means persons conducting accounting in the cases provided for in subparagraphs “b”, “c”, “d” of paragraph 7 of these Regulations) for documenting business transactions and submitting documents and information to the accounting service are mandatory for all employees of the organization.
13. Primary accounting documents must contain the following mandatory details: name of the document (form), form code; date of compilation; name of the organization on behalf of which the document was drawn up; content of a business transaction; business transaction indicators (in physical and monetary terms); names of positions of persons responsible for carrying out a business transaction and the correctness of its execution, personal signatures and their transcripts (including cases of creating documents using computer technology).
Primary accounting documents are accepted for accounting if they are drawn up in the form contained in the albums of unified (standard) forms of primary accounting documentation, and for documents whose form is not provided for in these albums and approved by the organization, they must contain mandatory details in accordance with the requirements of paragraph one of this paragraph.
Depending on the nature of the transaction, the requirements of regulations, accounting guidelines and technology for processing accounting information, additional details may be included in the primary documents.
14. The list of persons authorized to sign primary accounting documents is approved by the head of the organization in agreement with the chief accountant.
Documents used to formalize business transactions with funds are signed by the head of the organization and the chief accountant or persons authorized by them.
Without the signature of the chief accountant or a person authorized by him, monetary and settlement documents, financial and credit obligations are considered invalid and should not be accepted for execution (with the exception of documents signed by the head of the federal executive body, the design features of which are determined by separate instructions of the Ministry of Finance of the Russian Federation) . Financial and credit obligations are understood as documents documenting the organization’s financial investments, loan agreements, credit agreements and agreements concluded on commodity and commercial loans.
In case of disagreements between the head of the organization and the chief accountant regarding the implementation of certain business transactions, the primary accounting documents on them can be accepted for execution with a written order from the head of the organization, who bears full responsibility for the consequences of such transactions and the inclusion of data about them in accounting and accounting reporting.
15. The primary accounting document must be drawn up at the time of the business transaction, and if this is not possible, immediately after the completion of the transaction.
When selling goods, products, works and services using cash registers, it is allowed to draw up a primary accounting document at least once a day after its completion on the basis of cash receipts.
The creation of primary accounting documents, the procedure and timing of their transfer for reflection in accounting are carried out in accordance with the document flow schedule approved by the organization. Timely and high-quality execution of primary accounting documents, their transfer within the established time frame for reflection in accounting, as well as the reliability of the data contained in them are ensured by the persons who compiled and signed these documents.
16. Corrections to cash and bank documents are not allowed. Corrections can be made to other primary accounting documents only by agreement with the persons who compiled and signed these documents, which must be confirmed by the signatures of the same persons, indicating the date of the corrections.
17. To control and streamline the processing of data on business transactions, consolidated accounting documents can be compiled on the basis of primary accounting documents.
18. Primary and consolidated accounting documents can be compiled on paper and computer media. In the latter case, the organization is obliged to produce, at its own expense, copies of such documents on paper for other participants in business transactions, as well as at the request of the authorities exercising control in accordance with the legislation of the Russian Federation, the court and the prosecutor's office.
Accounting registers
19. Accounting registers are intended to systematize and accumulate information contained in primary accounting documents accepted for accounting, for reflection in accounting accounts and in financial statements.
Accounting registers can be kept in special books (magazines), on separate sheets and cards, in the form of machine diagrams obtained using computer technology, as well as on computer storage media. When maintaining accounting registers on computer media, it must be possible to output them to paper media.
Forms of accounting registers are developed and recommended by the Ministry of Finance of the Russian Federation, bodies that are granted the right to regulate accounting by federal laws, or federal executive authorities, organizations, subject to their compliance with the general methodological principles of accounting.
20. Business transactions must be reflected in accounting registers in chronological order and grouped according to the appropriate accounting accounts.
The correct reflection of business transactions in accounting registers is ensured by the persons who compiled and signed them.
21. When storing accounting registers, they must be protected from unauthorized corrections. Correction of an error in the accounting register must be justified and confirmed by the signature of the person who made the correction, indicating the date of the correction.
Persons who have access to information contained in accounting registers and internal accounting reports are required to maintain commercial and state secrets. For its disclosure they bear responsibility established by the legislation of the Russian Federation.
Valuation of property and liabilities
23. Property, liabilities and other facts of economic activity for reflection in accounting and financial statements are subject to valuation in monetary terms.
The assessment of property acquired for a fee is carried out by summing up the actual costs incurred for its purchase; property received free of charge - at market value on the date of capitalization; property produced in the organization itself - at the cost of its production (actual costs associated with the production of the property).
The actual costs incurred include, in particular, the costs of acquiring the property itself, interest paid on a commercial loan provided upon acquisition, markups (surcharges), commissions (cost of services) paid to supply, foreign economic and other organizations, customs duties and other payments, costs of transportation, storage and delivery carried out by third parties.
The current market value is formed on the basis of the price in effect on the date of recording of property received free of charge for this or a similar type of property. Data on the current price must be confirmed by documents or experts.
The cost of production recognizes the actual costs incurred associated with the use of fixed assets, raw materials, materials, fuel, energy, labor resources and other costs for the production of the property in the process of manufacturing property.
The use of other valuation methods, including through reserving, is permitted in cases provided for by the legislation of the Russian Federation, as well as regulations of the Ministry of Finance of the Russian Federation and bodies granted by federal laws the right to regulate accounting.
24. Accounting entries for the organization’s foreign currency accounts, as well as for transactions in foreign currency, are made in rubles in amounts determined by converting foreign currency at the exchange rate of the Central Bank of the Russian Federation effective on the date of the transaction. At the same time, these entries are made in the currency of settlements and payments.
25. Accounting for property, liabilities and business transactions may be kept in amounts rounded to whole rubles. The resulting amount differences are attributed to the financial results of a commercial organization or an increase in income (reduction of expenses) for a non-profit organization (as amended by Order of the Ministry of Finance of the Russian Federation dated December 30, 1999 No. 107n).
Inventory of property and liabilities
26. To ensure the reliability of accounting data and financial statements, organizations are required to conduct an inventory of property and liabilities, during which their presence, condition and valuation are checked and documented.
The procedure (number of inventories in the reporting year, dates of their conduct, list of property and liabilities checked during each of them, etc.) of the inventory is determined by the head of the organization, except for cases when the inventory is mandatory.
27. Carrying out an inventory is mandatory:
when transferring property for rent, redemption, sale, as well as during the transformation of a state or municipal unitary enterprise;
before drawing up annual financial statements (except for property, the inventory of which was carried out no earlier than October 1 of the reporting year). An inventory of fixed assets can be carried out once every three years, and of library collections - once every five years. In organizations located in the Far North and equivalent areas, inventory of goods, raw materials and materials can be carried out during the period of their smallest balances;
when changing financially responsible persons;
when facts of theft, abuse or damage to property are revealed;
in the event of a natural disaster, fire or other emergency situations caused by extreme conditions;
during reorganization or liquidation of the organization;
in other cases provided for by the legislation of the Russian Federation.
28. Discrepancies identified during the inventory between the actual availability of property and accounting data are reflected in the accounting accounts in the following order:
a) surplus property is accounted for at market value on the date of the inventory and the corresponding amount is credited to the financial results of a commercial organization or an increase in income of a non-profit organization (as amended by Order of the Ministry of Finance of the Russian Federation dated December 30, 1999 No. 107n);
b) shortage of property and its damage within the limits of natural loss norms are attributed to production or distribution costs (expenses), in excess of norms - at the expense of the guilty persons. If the guilty persons are not identified or the court refuses to recover damages from them, then losses from the shortage of property and its damage are written off against the financial results of a commercial organization or an increase in expenses for a non-profit organization (as amended by Order of the Ministry of Finance of the Russian Federation dated December 30, 1999 No. 107n).
III. BASIC RULES FOR COMPILATION AND PRESENTATION OF ACCOUNTING REPORTS
Primary requirements
29. The organization must prepare financial statements for the month, quarter and year on an accrual basis from the beginning of the reporting year, unless otherwise established by the legislation of the Russian Federation. At the same time, monthly and quarterly financial statements are interim.
30. The financial statements of organizations consist of: (as amended by Order of the Ministry of Finance of the Russian Federation dated December 30, 1999 No. 107n)
a) balance sheet;
b) profit and loss statement;
c) appendices to them, in particular the cash flow statement, appendices to the balance sheet and other reports provided for by the regulations of the accounting regulatory system;
d) explanatory note;
e) an auditor's report confirming the reliability of the organization's financial statements, if they are subject to mandatory audit in accordance with federal laws.
The paragraph has been deleted. – Order of the Ministry of Finance of the Russian Federation dated December 30, 1999 No. 107n.
31. Forms of financial statements of organizations, as well as instructions on the procedure for filling them out, are approved by the Ministry of Finance of the Russian Federation.
Other bodies, which are granted the right to regulate accounting by federal laws, approve, within their competence, the forms of accounting statements and instructions on the procedure for filling them out, which do not contradict the regulatory legal acts of the Ministry of Finance of the Russian Federation.
32. Accounting statements must provide a reliable and complete picture of the property and financial position of the organization, its changes, as well as the financial results of its activities.
33. The organization’s financial statements must include performance indicators of branches, representative offices and other structural units, including those allocated to separate balance sheets.
35. In the financial statements, data on numerical indicators are provided for at least two years - the reporting year and the one preceding the reporting year (except for the report prepared for the first reporting year).
If the data for the period preceding the reporting year are not comparable with the data for the reporting period, then the first of these data are subject to adjustment based on the rules established by regulations. Each significant adjustment must be disclosed in an explanatory note along with the reasons for it.
36. Accounting statements are prepared for the reporting year. The reporting year is considered to be the period from January 1 to December 31 of the calendar year inclusive.
The first reporting year for a newly created or reorganized organization is considered to be the period from the date of its state registration to December 31 inclusive, and for an organization newly created after October 1 (including October 1), from the date of state registration to December 31 of the following year inclusive.
Data on the facts of economic activities carried out before the state registration of the newly created organization are included in its financial statements for the first reporting year.
37. For the preparation of financial statements, the reporting date is considered to be the last calendar day of the reporting period.
38. Accounting statements are signed by the head and chief accountant of the organization.
In organizations where accounting is carried out on a contractual basis by a specialized organization (centralized accounting department) or a specialist accountant, the financial statements are signed by the head of the organization, the head of a specialized organization (centralized accounting department) or a specialist conducting accounting.
The responsibility of the persons who signed the financial statements is determined in accordance with the legislation of the Russian Federation.
39. Changes in the financial statements relating both to the reporting year and to previous periods (after their approval) are made in the statements prepared for the reporting period in which distortions in its data were discovered.
40. In the financial statements, offsets between items of assets and liabilities, items of profits and losses are not allowed, except in cases where such offset is provided for by the rules established by regulations.
RULES FOR EVALUATING ACCOUNTING REPORTING ITEMS
Unfinished capital investments
41. Unfinished capital investments include expenses for construction and installation work, acquisition of buildings, equipment, vehicles, tools, inventory not formalized by acceptance certificates of fixed assets and other documents (including documents confirming state registration of real estate in cases established by law). , other material objects of durable use, other capital work and costs (design and survey, geological exploration and drilling work, costs of land acquisition and resettlement in connection with construction, training of personnel for newly built organizations and others) (as amended by the Order of the Ministry of Finance RF dated March 24, 2000 No. 31n).
On the refusal to satisfy the application to invalidate paragraph 2 of paragraph 41, see the decision of the Supreme Court of the Russian Federation of December 21, 2000 No. GKPI 2000-1357.
By the decision of the Supreme Court of the Russian Federation dated March 6, 2001 No. CAS 01-71, this decision was left unchanged.
Capital construction projects that are in temporary operation, before they are put into permanent operation, are reflected as unfinished capital investments.
42. Incomplete capital investments are reflected in the balance sheet at actual costs for the developer (investor).
Financial investments
43. Financial investments include investments by an organization in government securities, bonds and other securities of other organizations, in the authorized (share) capital of other organizations, as well as loans provided to other organizations.
44. Financial investments are taken into account in the amount of actual costs for the investor. For debt securities, the difference between the amount of actual acquisition costs and the nominal value during their circulation period is allowed to be attributed evenly as the income due on them accrues to the financial results of a commercial organization or an increase in expenses of a non-profit organization (as amended by the Order of the Ministry of Finance of the Russian Federation dated December 30 .1999 No. 107n).
Organizations acting as professional participants in the securities market may revaluate investments in securities purchased for the purpose of generating income from their sale as quotes on the stock exchange change.
Objects of financial investments (except for loans) that have not been paid in full are shown on the asset side of the balance sheet in the full amount of the actual costs of their acquisition under the agreement with the assignment of the outstanding amount to creditors in the liability side of the balance sheet in cases where the rights to the object have been transferred to the investor. In other cases, amounts contributed to the account of financial investment objects subject to acquisition are shown in the asset balance sheet under the item debtors.
45. An organization’s investments in shares of other organizations listed on the stock exchange, the quotation of which is regularly published, when drawing up the balance sheet, are reflected at the end of the reporting year at market value, if the latter is lower than the value accepted for accounting. For this difference, a reserve is formed at the end of the reporting year for the depreciation of investments in securities due to the financial results of a commercial organization or an increase in expenses for a non-profit organization.
Fixed assets
46. To fixed assets as a set of material assets used as means of labor in the production of products, performance of work or provision of services, or for the management of an organization for a period exceeding 12 months, or the normal operating cycle, if it exceeds 12 months, include buildings, structures, working and power machines and equipment, measuring and control instruments and devices, computer technology, vehicles, tools, production and household equipment and supplies, working and productive livestock, perennial plantings, on-farm roads and other fixed assets.
Fixed assets also include capital investments in radical land improvement (drainage, irrigation and other reclamation works) and in leased fixed assets.
Capital investments in perennial plantings and radical land improvement are included in fixed assets annually in the amount of costs related to the areas accepted for operation in the reporting year, regardless of the completion date of the entire complex of works.
Fixed assets include land plots owned by the organization and environmental management facilities (water, subsoil and other natural resources).
47. Completed capital investments in leased fixed assets are credited by the tenant organization to its own fixed assets in the amount of actual costs incurred, unless otherwise provided by the lease agreement.
The additions made to paragraph 48 by Order of the Ministry of Finance of the Russian Federation dated March 24, 2000 No. 31n were declared invalid (ineffective), not entailing legal consequences from the moment of their publication by the decision of the Supreme Court of the Russian Federation dated August 23, 2000 No. GKPI 00-645.
48. The cost of the organization's fixed assets is repaid by calculating depreciation over their useful life.
Depreciation of fixed assets is calculated regardless of the results of the organization’s economic activities in the reporting period in one of the following ways:
linear method;
method of writing off the cost in proportion to the volume of products (works, services);
reducing balance method;
a method of writing off cost based on the sum of the numbers of years of useful life.
For fixed assets transferred by decision of the head of the organization for conservation, the duration of which cannot be less than three months, external improvement objects and other similar objects (forestry objects, road facilities, specialized navigation facilities, etc. objects), productive livestock , buffaloes, oxen and deer, as well as purchased publications (books, brochures, etc.), depreciation is not charged (as amended by Orders of the Ministry of Finance of the Russian Federation dated December 30, 1999 No. 107n, dated March 24, 2000 No. 31n).
Objects of fixed assets of non-profit organizations are not subject to depreciation (paragraph introduced by Order of the Ministry of Finance of the Russian Federation dated March 24, 2000 No. 31n).
The cost of land plots and environmental management facilities is not repaid.
49. Fixed assets are reflected in the balance sheet at their residual value, i.e. at the actual costs of their acquisition, construction and manufacture minus the amount of accrued depreciation (as amended by Order of the Ministry of Finance of the Russian Federation dated December 30, 1999 No. 107n).
Changes in the initial cost of fixed assets in cases of completion, additional equipment, reconstruction and partial liquidation, revaluation of the relevant objects are disclosed in the appendices to the balance sheet. A commercial organization has the right, no more than once a year (at the beginning of the reporting year), to revaluate fixed assets at replacement cost by indexation or direct recalculation at documented market prices with attribution of any resulting differences to the organization’s additional capital, unless otherwise established by the legislation of the Russian Federation .
50. Do not relate to fixed assets and are taken into account in organizations as part of funds in circulation (as amended by Order of the Ministry of Finance of the Russian Federation dated December 30, 1999 No. 107n):
a) items with a useful life of less than 12 months, regardless of their cost;
b) items with a value on the date of acquisition of no more than 100 times the minimum monthly wage per unit established by the legislation of the Russian Federation (based on their value stipulated in the contract), regardless of their useful life, with the exception of agricultural machines and tools, construction mechanized tools, weapons, as well as working and productive livestock, which are classified as fixed assets regardless of their cost (as amended by Order of the Ministry of Finance of the Russian Federation dated December 30, 1999 No. 107n).
The head of the organization has the right to set a lower limit on the value of items to be accepted for accounting as part of funds in circulation;
c) the following items, regardless of their cost and useful life:
fishing gear (trawls, seines, nets, nets and others);
special tools and special devices (tools and devices for special purposes intended for serial and mass production of certain products or for the manufacture of individual orders); replaceable equipment (repeatedly used in production adaptations to fixed assets and other devices caused by the specific conditions of manufacturing products - molds and accessories, rolling rolls, air tuyeres, shuttles, catalysts and sorbents of the solid state of aggregation, etc.);
special clothing, special shoes, as well as bedding;
uniforms intended for issue to employees of the organization; clothing and footwear in healthcare, education and other organizations on a budget;
temporary (non-title) structures, fixtures and devices, the construction costs of which are included in the costs of construction work as part of overhead costs;
items intended for rental under a rental agreement;
young animals and fattening animals, poultry, rabbits, fur-bearing animals, bee families, as well as service dogs, experimental animals;
perennial plants grown in nurseries as planting material;
d) gas-powered saws, delimbers, floating cable, seasonal roads, mustaches and temporary branches of logging roads, temporary buildings in the forest with a useful life of up to 24 months (mobile heating houses, boiler stations, pilot workshops, gas stations, etc.).
51. The cost of items transferred for production or operation, provided for in paragraph 50 of these Regulations, is repaid by the organization through depreciation, unless otherwise established by these Regulations.
Depreciation of these items is carried out using one of the following methods: percentage method; linear method; method of writing off cost in proportion to the volume of products (works, services).
Low-value items costing no more than one twentieth of the unit limit established in accordance with subparagraph “b” of paragraph 50 of these Regulations may be written off as expenses as they are released into production or operation. In order to ensure the safety of these items in production or during operation, the organization must organize proper control over their movement.
The cost of special tools, special devices and replacement equipment is repaid only by writing off the cost in proportion to the volume of products (works, services). The cost of special tools and special devices intended for individual orders or used in mass production is allowed to be fully repaid at the time the corresponding tools and devices are transferred to production.
The cost of items intended for rental under a rental agreement is repaid only in a straight-line manner.
The cost of young animals and fattening animals, poultry, rabbits, fur-bearing animals, bee families, experimental animals, service dogs, perennial plants grown in nurseries as planting material is not repaid.
52. The cost of items transferred for production or operation provided for in paragraph 50 of these Regulations, except for low-value and wear-and-tear items of non-profit organizations, is transferred by calculating depreciation in the manner prescribed in paragraph 51 of these Regulations (as amended by Orders of the Ministry of Finance of the Russian Federation dated December 30, 1999 No. 107n, dated March 24, 2000 No. 31n).
Depreciation on items transferred for production or operation provided for in this paragraph is calculated regardless of the results of the organization’s economic activities in the reporting period.
53. Items provided for in paragraph 50 of these Regulations are reflected in the balance sheet at their residual value, i.e. at the actual costs of their acquisition, construction or manufacture minus the amount of accrued depreciation (as amended by Order of the Ministry of Finance of the Russian Federation dated December 30, 1999 No. 107n).
54. Material assets remaining from the write-off of fixed assets and items that are unsuitable for restoration and further use, provided for in paragraph 50 of these Regulations, are accounted for at market value on the date of write-off, and the corresponding amount is credited to the financial results of a commercial organization or an increase in income for a non-profit organization ( as amended by Order of the Ministry of Finance of the Russian Federation dated December 30, 1999 No. 107n).
Intangible assets
Clause 55 is applied to the extent that does not contradict the norms of the Accounting Regulations “Accounting for Intangible Assets” PBU 14/2000 (letter of the Ministry of Finance of the Russian Federation dated August 23, 2001 No. 16-00-12/15).
55. Intangible assets used in economic activity for a period exceeding 12 months and generating income include rights arising:
from patents for inventions, industrial designs, selection achievements, from certificates for utility models, trademarks and service marks or licensing agreements for their use (as amended by Order of the Ministry of Finance of the Russian Federation dated March 24, 2000 No. 31n);
from rights to “know-how”, etc.
In addition, intangible assets may include organizational expenses (expenses associated with the formation of a legal entity, recognized in accordance with the constituent documents as the contribution of participants (founders) to the authorized (share) capital), as well as the business reputation of the organization.
Clause 56 is applied to the extent that does not contradict the norms of the Accounting Regulations “Accounting for Intangible Assets” PBU 14/2000 (letter of the Ministry of Finance of the Russian Federation dated August 23, 2001 No. 16-00-12/15).
56. The cost of intangible assets is repaid by calculating depreciation over the established period of their useful life.
For objects for which the cost is repaid, depreciation charges are determined in one of the following ways:
linear method based on standards calculated by the organization based on their useful life;
method of writing off cost in proportion to the volume of products (works, services).
For intangible assets for which it is impossible to determine the useful life, depreciation rates are established for twenty years (but not more than the life of the organization) (as amended by Order of the Ministry of Finance of the Russian Federation dated March 24, 2000 No. 31n).
The changes made to paragraph four of paragraph 56 by Order of the Ministry of Finance of the Russian Federation dated March 24, 2000 No. 31n were declared invalid (ineffective), not entailing legal consequences from the moment of their publication by the decision of the Supreme Court of the Russian Federation dated August 23, 2000 No. GKPI 00-645.
Depreciation is not accrued for intangible assets of non-profit organizations (as amended by Order of the Ministry of Finance of the Russian Federation dated March 24, 2000 No. 31n).
Amortization of intangible assets is calculated regardless of the organization's performance in the reporting period.
The acquired business reputation of the organization must be adjusted within twenty years (but not more than the life of the organization) (paragraph introduced by Order of the Ministry of Finance of the Russian Federation dated March 24, 2000 No. 31n).
Depreciation charges for the positive business reputation of an organization are reflected in accounting by reducing its initial cost. The negative business reputation of the organization is evenly written off to the financial results of the organization as other income (paragraph introduced by Order of the Ministry of Finance of the Russian Federation dated March 24, 2000 No. 31n, as amended by Order of the Ministry of Finance of the Russian Federation dated September 18, 2006 No. 116n).
Clause 57 is applied to the extent that does not contradict the norms of the Accounting Regulations “Accounting for Intangible Assets” PBU 14/2000 (letter of the Ministry of Finance of the Russian Federation dated August 23, 2001 No. 16-00-12/15).
57. Intangible assets are reflected in the balance sheet at their residual value, i.e. according to the actual costs of acquisition, production and costs of bringing them to a state in which they are suitable for use for the intended purposes, minus accrued depreciation (as amended by Order of the Ministry of Finance of the Russian Federation dated December 30, 1999 No. 107n).
Raw materials, materials, finished products and goods
58. Raw materials, main and auxiliary materials, fuel, purchased semi-finished products and components, spare parts, containers used for packaging and transportation of products (goods), and other material resources are reflected in the balance sheet at their actual cost.
The actual cost of material resources is determined based on the actual costs incurred for their acquisition and production.
Determining the actual cost of material resources written off for production is permitted using one of the following inventory valuation methods:
– at the cost of a unit of inventory;
– at average cost;
– at the cost of the first acquisitions (FIFO) (as amended by Order of the Ministry of Finance of the Russian Federation dated March 26, 2007 No. 26n).
59. Finished products are reflected in the balance sheet at actual or standard (planned) production costs, including costs associated with the use of fixed assets, raw materials, materials, fuel, energy, labor resources, and other costs for production of products or direct cost items.
60. Goods in organizations engaged in trading activities are reflected in the balance sheet at the cost of their acquisition.
When selling (dispensing) goods, their value may be written off using the valuation methods set out in paragraph 58 of these Regulations.
When an organization engaged in retail trade accounts for goods at sales prices, the difference between the acquisition cost and the cost at sales prices (discounts, markups) is reflected in the financial statements as a separate item.
61. Shipped goods, completed works and rendered services are reflected in the balance sheet at the actual or standard (planned) full cost, which includes, along with production costs, costs associated with the sale (sale) of products, works, services, reimbursed by the negotiated (contract) price.
62. The values provided for in paragraphs 58 – 60 of this Regulation, for which the price has decreased during the reporting year or which have become obsolete or partially lost their original quality, are reflected in the balance sheet at the end of the reporting year at the price of possible sale, if it is lower than the original cost of procurement (acquisitions), with the difference in prices attributed to the financial results of a commercial organization or an increase in expenses for a non-profit organization.
Work in progress and deferred expenses
63. Products (works) that have not passed all stages (phases, redistributions) provided for by the technological process, as well as incomplete products that have not passed testing and technical acceptance, are classified as work in progress.
64. Work in progress in mass and serial production can be reflected in the balance sheet:
– according to actual or standard (planned) production cost;
– for direct cost items;
– at the cost of raw materials, materials and semi-finished products.
With a single production of products, work in progress is reflected in the balance sheet at the actual costs incurred.
65. Costs incurred by the organization in the reporting period, but relating to the following reporting periods, are reflected in the balance sheet as a separate item as deferred expenses and are subject to write-off in the manner established by the organization (uniformly, in proportion to the volume of production, etc.) during the period to to which they belong.
Capital and reserves
66. The organization’s own capital takes into account the authorized (share), additional and reserve capital, retained earnings and other reserves.
67. The balance sheet reflects the amount of authorized (share) capital registered in the constituent documents as a set of contributions (shares, shares, shares) of the founders (participants) of the organization.
The authorized (share) capital and the actual debt of the founders (participants) for contributions (contributions) to the authorized (share) capital are reflected separately in the balance sheet.
State and municipal unitary enterprises, instead of authorized (share) capital, take into account the authorized capital formed in the prescribed manner.
68. The amount of additional valuation of fixed assets, capital construction projects and other tangible assets of an organization with a useful life of more than 12 months, carried out in the prescribed manner, the amount received in excess of the nominal value of issued shares (share premium of a joint-stock company), and other similar amounts are accounted for as additional capital and are reflected separately in the balance sheet (as amended by Order of the Ministry of Finance of the Russian Federation dated March 24, 2000 No. 31n).
69. The reserve fund created in accordance with the legislation of the Russian Federation to cover the losses of the organization, as well as to repay the organization’s bonds and repurchase its own shares is reflected separately in the balance sheet.
70. An organization can create reserves for doubtful debts for settlements with other organizations and citizens for products, goods, works and services, attributing the amounts of reserves to the financial results of the organization.
Doubtful debt is an organization's receivables that are not repaid within the time limits established by the agreement and are not secured by appropriate guarantees.
The reserve for doubtful debts is created based on the results of the inventory of the organization's receivables.
The amount of the reserve is determined separately for each doubtful debt, depending on the financial condition (solvency) of the debtor and the assessment of the likelihood of repaying the debt in whole or in part.
If by the end of the reporting year following the year in which the reserve for doubtful debts was created, this reserve is not used in any part, then the unspent amounts are added to the financial results when drawing up the balance sheet at the end of the reporting year.
71. Excluded. – Order of the Ministry of Finance of the Russian Federation dated March 24, 2000 No. 31n.
72. In order to evenly include upcoming expenses in the production or distribution costs of the reporting period, the organization can create reserves for the upcoming payment of vacations to employees; payment of annual remuneration for long service; payment of remuneration based on the results of work for the year; repair of fixed assets; production costs for preparatory work due to the seasonal nature of production; upcoming costs for land reclamation and other environmental measures; upcoming costs of repairing items intended for rental under a rental agreement; warranty repairs and warranty service; covering other anticipated costs and other purposes provided for by the legislation of the Russian Federation, regulatory legal acts of the Ministry of Finance of the Russian Federation. The balance sheet at the end of the reporting year reflects as a separate item the balances of reserves carried over to the next year, determined on the basis of the rules established by the regulations of the accounting regulatory system.
Settlements with debtors and creditors
73. Settlements with debtors and creditors are reflected by each party in its financial statements in the amounts arising from the accounting records and recognized by it as correct. For loans and credits received, the debt is shown taking into account the interest due at the end of the reporting period.
74. The amounts reflected in the financial statements for settlements with banks and the budget must be agreed upon with the relevant organizations and identical. Leaving unresolved amounts for these settlements on the balance sheet is not permitted.
75. Balances of foreign currency funds on the organization’s foreign currency accounts, other funds (including monetary documents), short-term securities, receivables and payables in foreign currencies are reflected in the financial statements in rubles in amounts determined by converting foreign currencies at the exchange rate of the Central Bank of the Russian Federation effective as of the reporting date.
76. Fines, penalties and penalties recognized by the debtor or for which court decisions on their collection have been received are attributed to the financial results of a commercial organization or an increase in income (reduction of expenses) of a non-profit organization and, before their receipt or payment, are reflected in the balance sheet of the recipient and the payer respectively, according to the items of debtors or creditors (as amended by Order of the Ministry of Finance of the Russian Federation dated December 30, 1999 No. 107n).
77. Accounts receivable for which the statute of limitations has expired and other debts that are unrealistic for collection are written off for each obligation based on the inventory data, written justification and order (instruction) of the head of the organization and are charged accordingly to the reserve for doubtful debts or to financial results from a commercial organization, if in the period preceding the reporting period, the amounts of these debts were not reserved in the manner prescribed by paragraph 70 of these Regulations, or to increase expenses from a non-profit organization (as amended by Order of the Ministry of Finance of the Russian Federation dated December 30, 1999 No. 107n).
Writing off a debt at a loss due to the debtor's insolvency does not constitute cancellation of the debt. This debt must be reflected on the balance sheet for five years from the date of write-off in order to monitor the possibility of its collection in the event of a change in the debtor's property status.
78. Amounts of accounts payable and depositors for which the statute of limitations has expired are written off for each obligation based on the inventory data, written justification and order (instruction) of the head of the organization and are attributed to the financial results of a commercial organization or an increase in income of a non-profit organization (in ed. Order of the Ministry of Finance of the Russian Federation dated December 30, 1999 No. 107n).
Profit (loss) of the organization
79. Accounting profit (loss) is the final financial result (profit or loss) identified for the reporting period on the basis of accounting of all business transactions of the organization and assessment of balance sheet items according to the rules adopted in accordance with these Regulations.
80. Profit or loss identified in the reporting year, but relating to operations of previous years, are included in the financial results of the organization for the reporting year.
81. Income received in the reporting period, but relating to subsequent reporting periods, is reflected in the balance sheet as a separate item as deferred income. These incomes are subject to attribution to the financial results of a commercial organization or an increase in income of a non-profit organization upon the onset of the reporting period to which they relate.
82. In the case of the sale and other disposal of the organization’s property (fixed assets, inventories, securities, etc.), the loss or income from these transactions is attributed to the financial results of a commercial organization or an increase in expenses (income) of a non-profit organization (as amended by Order of the Ministry of Finance of the Russian Federation dated December 30, 1999 No. 107n).
83. In the balance sheet, the financial result of the reporting period is reflected as retained earnings (uncovered loss), i.e. the final financial result identified for the reporting period, minus taxes and other similar mandatory payments due from profits established in accordance with the legislation of the Russian Federation, including sanctions for non-compliance with tax rules.
IV. PROCEDURE FOR PRESENTATION OF ACCOUNTING REPORTS
84. All organizations submit annual financial statements in accordance with the constituent documents to the founders, participants of the organization or owners of its property, as well as to the territorial bodies of state statistics at the place of their registration. State and municipal unitary enterprises submit financial statements to bodies authorized to manage state property (as amended by Order of the Ministry of Finance of the Russian Federation dated December 30, 1999 No. 107n).
Financial statements are presented to other executive authorities, banks and other users in accordance with the legislation of the Russian Federation.
The organization is obliged to submit financial statements to the established addresses, one copy free of charge.
85. Organizations are required to submit annual financial statements in the forms provided for in paragraph 30 of these Regulations (as amended by Order of the Ministry of Finance of the Russian Federation dated December 30, 1999 No. 107n).
Small businesses and non-profit organizations are not allowed to submit a cash flow statement. In addition, small businesses have the right not to submit an appendix to the balance sheet, other appendices and an explanatory note.
86. Organizations are required to submit annual financial statements within 90 days after the end of the year, unless otherwise provided by the legislation of the Russian Federation, and quarterly - in cases provided for by the legislation of the Russian Federation - within 30 days after the end of the quarter (as amended by the Order of the Ministry of Finance of the Russian Federation dated December 30, 1999 No. 107n).
Within the specified time frame, the specific date for submitting financial statements is established by the founders (participants) of the organization or the general meeting. In this case, annual financial statements must be submitted no earlier than 60 days after the end of the reporting year.
The submitted annual financial statements must be approved in the manner established by the constituent documents of the organization.
87. Lost power. – Order of the Ministry of Finance of the Russian Federation dated December 30, 1999 No. 107n.
88. The day an organization submits its financial statements is determined by the date of its mailing or the date of actual transmission according to ownership.
If the date of submission of financial statements falls on a non-working (weekend) day, then the reporting deadline is considered to be the first working day following it.
89. The annual financial statements of an organization are open to interested users: banks, investors, creditors, buyers, suppliers, etc., who can familiarize themselves with the annual financial statements and receive copies of them with reimbursement of copying costs (as amended by the Order of the Ministry of Finance of the Russian Federation dated December 30 .1999 No. 107n).
The organization must provide an opportunity for interested users to familiarize themselves with the financial statements.
Accounting statements containing indicators classified as state secrets under the legislation of the Russian Federation are presented taking into account the requirements of the said legislation.
90. In cases provided for by the legislation of the Russian Federation, the organization publishes financial statements and the final part of the audit report.
Publication of financial statements is carried out no later than June 1 of the year following the reporting year, unless otherwise established by the legislation of the Russian Federation.
The procedure for publishing financial statements is established by the Ministry of Finance of the Russian Federation and the bodies that are granted the right to regulate accounting by federal laws.
V. BASIC RULES OF CONSOLIDATED ACCOUNTING REPORTS
91. If an organization has subsidiaries and dependent companies, in addition to its own financial statements, consolidated financial statements are also compiled, including indicators of the reports of such companies located on the territory of the Russian Federation and abroad, in the manner established by the Ministry of Finance of the Russian Federation.
92. Federal ministries and other federal executive bodies of the Russian Federation draw up consolidated annual financial statements for unitary enterprises, as well as separate consolidated financial statements for joint-stock companies (partnerships), part of the shares (shares, deposits) of which are assigned to federal ownership (regardless of the size , shares).
If the constituent documents of associations of legal entities created on a voluntary basis by organizations (unions, associations) provide for the preparation of consolidated financial statements, then they are presented in accordance with the rules established by the Ministry of Finance of the Russian Federation in accordance with paragraph 91 of these Regulations.
93. Consolidated annual financial statements of federal ministries and other federal executive bodies are submitted to the Ministry of Finance of the Russian Federation, the Ministry of Economy of the Russian Federation and the State Committee of the Russian Federation on Statistics:
– for joint-stock companies (partnerships), part of the shares (shares, deposits) of which are assigned to federal ownership (regardless of the size of the share) – no later than August 1 of the following reporting year.
94. The consolidated annual financial statements of an association of legal entities created on a voluntary basis by organizations are presented in the manner and within the time limits provided for in the constituent documents of the association, unless otherwise established by the legislation of the Russian Federation.
95. Lost power. – Order of the Ministry of Finance of the Russian Federation dated December 30, 1999 No. 107n.
96. Consolidated financial statements are signed by the head and chief accountant of the organization.
97. The responsibility of the persons who signed the consolidated financial statements is determined in accordance with the legislation of the Russian Federation.
VI. STORAGE OF ACCOUNTING DOCUMENTS
98. The organization is obliged to store primary accounting documents, accounting registers and financial statements for periods established in accordance with the rules for organizing state archival affairs, but not less than five years.
99. The working chart of accounts, other accounting policy documents, coding procedures, computer data processing programs (indicating the terms of their use) must be stored by the organization for at least five years after the reporting year in which they were used for the preparation of financial statements for the last time.
100. Primary accounting documents can be seized only by the bodies of inquiry, preliminary investigation and prosecutor's office, courts, tax inspectorates and tax police on the basis of their decisions in accordance with the legislation of the Russian Federation.
The chief accountant or other official of the organization has the right, with the permission and in the presence of representatives of the authorities conducting the seizure of documents, to make copies of them indicating the reason and date of seizure.
101. Responsibility for organizing the storage of primary accounting documents, accounting registers and financial statements lies with the head of the organization.
* * *
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Introduction
1. Theoretical part
1.2 System of regulatory regulation of accounting and reporting in the Russian Federation
1.5 Regulations on accounting and financial reporting in the Russian Federation
2. Practical part
Conclusion
Bibliography
Introduction
Currently, the study of law has become an urgent need for everyone involved in entrepreneurial and economic activities. The activities of an organization in economic circulation are impossible without compliance with numerous norms and rules. In modern conditions, the functioning and well-being of an organization largely depends on the knowledge of an accountant. The well-being of the accountant himself also directly depends on the amount of knowledge he has. Now, in order to continue normal work, an accountant must master legal terminology, know how regulations are applied and operate, who can be a subject of economic relations, how transactions are made and contracts are concluded, what property and intellectual property are, how labor relations are regulated in organizations and much more.
The problem that every accountant faces is that all legal literature is written by lawyers and for lawyers.
Numerous law textbooks, teaching aids, and other legal literature repel the unprepared reader with their heaviness and fundamental nature of presentation.
accounting reporting regulatory
1. Theoretical part
1.1 Concept and types of regulations
A normative act is an act of lawmaking emanating from a competent government body and containing norms of law. The normative act operates continuously, is intended to regulate an indefinite number of monotonous and repeating cases and is mandatory for execution by an indefinite number of persons. This distinguishes a normative act from individual acts that apply a rule of law in a specific situation to a specific person, and acts of interpretation that clarify existing rules of law.
Law is a normative act adopted by a representative body of state power of the Russian Federation or its constituent entities. There are federal constitutional laws, federal laws, and laws of the constituent entities of the Federation.
Different types of regulations have received different names in the legal literature and texts of regulations. The term "legislation" is applied, as a rule, to the entire set of normative acts. The term “legal act” usually refers to federal laws, presidential decrees and government resolutions. The term “by-law” (“act of legislation”) applies to presidential decrees, government regulations and departmental acts.
1.2 System of regulatory regulation of accounting and reporting in the Russian Federation
Accounting is carried out in accordance with regulatory documents that have different statuses. Some of them are mandatory for use (Law “On Accounting”, accounting regulations), others are advisory in nature (Chart of Accounts, guidelines, comments).
Depending on the purpose and status, it is advisable to present regulatory documents in the form of the following system:
The first level of the system consists of legislative acts (Federal Law of December 13, 2013 N402-FZ “On Accounting” (with amendments and additions), the Civil Code of the Russian Federation, etc., decrees of the President of the Russian Federation and decrees of the Government of the Russian Federation, regulating directly or indirectly the accounting procedure in organizations.The same level includes the Regulations on accounting and financial reporting in the Russian Federation, approved by Order of the Ministry of Finance of Russia dated July 29, 1998 No. 34n (as amended and supplemented).
The second level consists of Russian standards - Accounting Regulations (PBU), which establish principles, basic rules for conducting accounting in the areas of activity of the organization and types of assets, as well as the preparation and presentation of financial statements.
The third level is methodological recommendations (instructions, guidelines and other similar documents) for accounting of property, costs, preparation of financial statements, etc., which are approved by the Ministry of Finance of Russia, taking into account the industry specifics and types of activities of organizations.
A special place among the regulatory documents of this level is given to the Chart of Accounts for accounting financial and economic activities of organizations and the Instructions for its application, approved by Order of the Ministry of Finance of Russia dated October 31, 2000 N 94n, which determines the procedure for reflecting business transactions on accounting accounts.
The fourth level is the working documents of the organization. They include a provision on the accounting policy of the organization (defines the methods and methods of accounting and valuation of assets and liabilities, includes a working chart of accounts compiled on the basis of a standard Chart of Accounts); working documents on the organization of accounting for certain types of assets, costs, equity capital and liabilities, other documents that determine, in particular, the procedure for organizing primary accounting and document flow.
The main act of the first level is the Federal Law “On Accounting” dated December 13, 2013 N402-FZ. This Law defines the legal basis of accounting, its content, principles, organization, main directions of accounting activities and reporting, the composition of business entities required to maintain accounting records and provide financial statements.
The first level of the system should also include the Civil Code of the Russian Federation, Federal Laws “On a simplified system of taxation, accounting and reporting for small businesses” dated December 29, 1995 N 222-FZ, “On state support for small businesses in the Russian Federation” dated 14 June 1995 N 88-FZ, “On Joint-Stock Companies” dated December 26, 1995 N 208-FZ, Decree of the Government of the Russian Federation “On the Program for Reforming Accounting in accordance with International Accounting Standards for Financial Reporting” dated March 6, 1998 N 283, etc.
An accounting standard can be defined as a set of basic rules that establishes the procedure for accounting and evaluating a particular object or a set of them. Accounting standards (in domestic accounting - regulations) are designed to specify the Law on Accounting and Reporting. Currently, 16 regulations on accounting and reporting have been developed and approved in Russia. At the second level of the system of regulatory documents, the only regulatory body is the Ministry of Finance of the Russian Federation.
Methodological recommendations and instructions are designed to specify accounting standards in accordance with industry and other characteristics. They are developed by the Ministry of Finance of the Russian Federation and various departments (in the industry of the USSR alone, 140 industry instructions were in force).
The working documents of the enterprise itself determine the features of the organization and accounting in it.
1.3 Accounting Law
On November 21, 1996, for the first time in the history of Russia, a special Federal Law “On Accounting” was adopted, which took an important place in the system of other laws developed in relation to the specifics of market relations.
This Law is of great importance for the development of accounting in the country because:
a) increases the legal status of accounting standards for commercial and non-profit organizations;
b) establishes the obligation of legal entities to maintain accounting records;
c) raises the status of accounting norms to the level of the status of norms of other legislation.
The Law “On Accounting” consists of 4 chapters and 32 articles.
The first section “General Provisions” provides a definition of the essence of accounting, names its objects (the organization’s property, its obligations and business operations), indicates the tasks of accounting, provides the basic concepts used in accounting (synthetic and analytical accounting, Chart of accounts, accounting reporting, etc.).
The procedure for regulating accounting is outlined, according to which the general methodological guidance of accounting is carried out by the Government of the Russian Federation, and the bodies that are granted the right to regulate accounting develop and approve charts of accounts and instructions for their application, regulations (standards) for accounting and others regulations and guidelines for accounting.
Responsibility for organizing accounting in organizations and complying with legislation when carrying out business transactions rests with the heads of organizations.
The second section, “Basic Rules of Accounting,” sets out the requirements for accounting (mandatory double entry of business transactions based on the working chart of accounts, accounting in Russian, in the currency of the Russian Federation, mandatory formation of accounting policies and mandatory separate accounting of current costs and capital and financial investments), to documenting business transactions, maintaining accounting registers, assessing property and liabilities, and the procedure for making an inventory of property and liabilities.
The third section, “Basic rules for the preparation and presentation of financial statements,” sets out the basic requirements for the preparation of financial statements, defines their composition, the rules for evaluating items of financial statements, the procedure for their presentation, the basic rules for the preparation of consolidated financial statements and the procedure for storing accounting documents.
1.4 Regulatory regulation of accounting and reporting in Russia
Accounting (financial) reporting is a unified system of data on the property and financial position of an organization and the results of its economic activities, generated on the basis of accounting (financial) accounting data.
Accounting (financial) reporting allows you to estimate the total value of property, the cost of immobilized and mobile assets, material current assets, the amount of the organization's own and borrowed sources of funds.
According to the accounting (financial) statements, a surplus or shortage of sources of funds for the formation of the organization's working capital is established, that is, the organization's security with its own and borrowed sources is determined.
Accounting (financial) statements make it possible to assess the creditworthiness of an organization, that is, the ability to fully and timely pay obligations.
Accounting statements are the information base for financial analysis, the results of which are used to manage the financial and economic activities of an organization, to assess the effectiveness of its management, and to select areas for investing capital. Financial analysis can act as a tool for forecasting individual indicators and financial activities in general. The system of regulatory regulation of accounting and reporting in Russia consists of four levels:
1. Laws and other legislative acts of the Russian Federation that directly or indirectly regulate accounting, Government Decrees, Orders of the Ministry of Finance (Accounting Law, Regulations on Accounting and Reporting).
2. Domestic accounting standards (PBU).
3. Various instructions, guidelines, recommendations, letters from the Ministry of Finance and line ministries, as well as the Arbitration Court
4. Internal documents of the enterprise (Order on accounting policies).
The main regulatory documents governing the procedure for drawing up and presenting financial statements are:
1) Federal Law “On Accounting” dated December 13, 2013. No. 402-FZ;
2) Regulations on accounting and reporting in the Russian Federation, approved by Order of the Ministry of Finance on July 29, 1998. No. 34n;
3) PBU 4/99 “Accounting statements of an organization”, approved by the Order of the Ministry of Finance of 07/06/1999. No. 43n;
4) Order of the Ministry of Finance of July 2, 2010. No. 66n “On the forms of financial statements of an organization”;
5) Order of the Ministry of Finance of September 22, 2010. No. 108n “Instructions on the scope of financial reporting forms” and “Instructions on the procedure for drawing up and submitting financial statements”;
6) Order on the accounting policy of the organization.
Based on regulatory documents, interim reporting includes the main reporting forms, and annual reporting includes the main forms and appendices to them.
The main forms of reporting are:
Form No. 1 “Balance Sheet”
Form No. 2 “Profit and Loss Statement”
Applications include:
1) Form No. 3 “Report on changes in capital”;
2) Form No. 4 “Cash Flow Statement”;
3) Form No. 5 “Appendices to the Balance Sheet”;
4) Form No. 6 “Report on the intended use of funds received”;
5) Explanatory note;
6) Audit report for enterprises subject to mandatory audit.
Small businesses, as well as non-profit organizations and public associations that do not carry out entrepreneurial activities, have the right not to submit forms 3,4,5 and an explanatory note as part of the annual reporting.
When preparing financial statements, the requirements of regulatory legal acts on accounting must be fulfilled regarding the disclosure in the financial statements of information on changes in accounting policies that have had or may have a significant impact on the financial position, cash flow or financial results of the organization, on transactions in foreign currency , on inventories, on fixed assets, on income and expenses of the organization, on the consequences of events after the reporting date, on the consequences of contingent facts of economic activity, as well as on the disclosure in the financial statements of certain information about assets, capital, reserves and liabilities organizations. Such disclosure can be carried out by the organization by including relevant indicators, tables, transcripts directly in the financial reporting forms or in the explanatory note.
All approved forms are advisory in nature. This means that enterprises have the right to develop their own forms, but the principles of reporting must be preserved, i.e. codes for total lines, sections, groups of articles, the sequence of indicators in forms, etc. are saved. If the organization uses standard forms, then unfilled lines and columns are crossed out. If an enterprise uses a form developed independently, then it simply does not include indicators that it does not have.
Reporting is completed in the currency of the Russian Federation - rubles. Data in financial reporting forms is entered in thousands or millions of rubles without decimal places. If the amount of assets is insignificant, an enterprise can prepare reports in rubles. There should be no erasures or erasures in the financial reporting forms.
When reflecting data in the financial statements, it should be borne in mind that if, in accordance with regulatory documents on accounting, an indicator must be subtracted from the corresponding indicators when calculating the relevant data or has a negative value, then in the financial statements this indicator is shown in parentheses (uncovered loss, cost of goods sold, loss on sales, interest payable, operating expenses, reduction of capital, cash flow, disposal of fixed assets, etc.).
The reporting year in Russia is the calendar year, i.e. period from 01.01. until 31.12. reporting year. For a newly created organization, the reporting year is considered to be the period from the date of its registration to December 31, and for organizations created after October 1. -the reporting year is the period from 01.10. until 31.12. next year.
Interim reporting is submitted within 30 days after the end of the reporting period, annual reporting - within 90 days from the end of the reporting period. The specific date for reporting is set by the founders or the general meeting. In this case, annual reporting is submitted no earlier than 60 days after the end of the reporting year.
The date of presentation of financial statements is considered to be the day of their actual presentation or the date of their mailing. If the submission date falls on a non-working day, then the submission period is considered to be the first working day following it.
Reporting is submitted to founders, tax authorities, higher organizations, and statistical authorities free of charge. Reporting in Russia is public and therefore it can be presented to all interested parties with reimbursement of costs for copying.
If the enterprise has branches and representative offices, consolidated reporting is prepared. If an enterprise has subsidiaries or dependent companies, then consolidated statements are prepared.
When preparing financial statements, they must meet the following requirements:
1) Reliability and completeness of information about the property and financial status of the organization. This means that financial statements must be prepared in accordance with the requirements established in regulatory documents;
2) Sequences of information presentation over time. This means that the organization must adhere to its accepted forms of accounting statements consistently from one reporting period to another;
3) Neutrality of information. This means that reporting indicators should meet the interests of different user groups and not influence the decisions and assessments of information users;
4) Possibilities for comparing data over time. This means that the forms of financial statements chosen by the organization must provide for at least two numerical indicators.
Materiality (significance) of information. This means that essential information must be further explained. An indicator is considered significant, the non-disclosure of which may affect the economic decisions of interested users. In Russia, information is considered significant if it exceeds 5% of the total amount of relevant data.
1.5. Regulations on accounting and financial reporting in the Russian Federation
Due to its significance, this regulatory document is subject to constant revision and, taking into account the changes made to it, was approved three times by the Ministry of Finance of the Russian Federation: on March 20, 1992 by Order No. 10, on December 26, 1994 by Order No. 170 and on July 29, 1998 by Order No. 34n.
Subsequently, the Regulations were amended and supplemented by Orders of the Ministry of Finance dated December 30, 1999 No. 107 and dated March 24, 2000 No. 31n.
The provisions should be classified as normative documents of the second level. It is intended to clarify the Accounting Law.
The regulation includes six sections.
In Sect. I “General Provisions” define the procedure for organizing and maintaining accounting records, drawing up and presenting financial statements by legal entities, as well as the organization’s relationship with external users of accounting information. It is indicated, in particular, the responsibilities of the Ministry of Finance of the Russian Federation for the development of regulatory documents on accounting, the responsibility of the manager for organizing accounting in the organization, his rights to create an accounting service, introduce an accountant into the staff, to carry out accounting by third-party organizations or to carry out accounting by the leader himself. This section defines the essence of accounting and its tasks, and indicates the main elements of the order (instruction) on accounting policies.
In Sect. II "Basic rules of accounting" sets out the requirements for accounting (use of double entry based on a working chart of accounts, accounting must be kept in rubles and in Russian, mandatory formation of accounting policies based on established assumptions and requirements, separate accounting of current costs for production and capital and financial investments).
In Sect. III "Basic rules for the preparation and presentation of financial statements" indicates the composition of financial statements, the procedure for their formation, the rules for evaluating items of financial statements (for unfinished capital investments, financial investments, fixed assets, intangible assets, raw materials, materials, finished products and goods, work in progress and future expenses, capital and reserves, settlements with debtors and creditors, profit (loss) of the organization).
In Sect. IV “Procedure for submission of financial statements” indicates within what time frames, to what addresses and in what order financial statements are submitted by organizations of various legal forms.
In Sect. V “Basic rules for drawing up consolidated reporting” sets out the concept of consolidated reporting and defines the procedure and timing for its submission by organizations and enterprises of various legal forms.
In Sect. VI “Storage of Documents” defines the storage periods for basic accounting documents, the procedure for their withdrawal, and assigns responsibility for the storage of primary documents and accounting registers to the heads of organizations.
1.6 Accounting Regulations (PBU)
In the regulatory system, accounting regulations are second-level documents. They are intended to specify the Accounting Law for each accounting object.
To date, 23 accounting provisions have been developed and introduced into accounting practice:
List of current PBUs:
* PBU 1/2008 “Accounting policies of the organization”;
* PBU 2/2008 “Accounting for agreements (contracts) for capital construction”;
* PBU 3/2006 “Accounting for assets and liabilities, the value of which is expressed in foreign currency”;
* PBU 4/99 “Accounting statements of an organization” * PBU 5/01 “Accounting for inventories”;
* PBU 6/01 “Accounting for fixed assets” * PBU 7/98 “Events after the reporting date”;
* PBU 8/01 “Conditional facts of economic activity” * PBU 9/99 “Income of the organization”;
* PBU 10/99 “Expenses of the organization”;
* PBU 11/2008 “Information about related parties”;
* PBU 12/2000 “Information by segments”;
* PBU 13/2000 “Accounting for state aid”;
* PBU 14/2007 “Accounting for intangible assets”;
* PBU 15/01 “Accounting for loans and credits and the costs of servicing them”;
* PBU 16/02 “Information on discontinued activities”;
* PBU 17/02 “Accounting for expenses for research, development and technological work”;
* PBU 18/02 “Accounting for income tax calculations”;
* PBU 19/02 “Accounting for financial investments”;
* PBU 20/03 “Information on participation in joint activities”;
* PBU 21/2008 “Changes in estimated values”;
· PBU 22/2010 “Correcting errors in accounting and reporting;
· PBU 23/2011 “Cash Flow Statement”.
That is, 23 Accounting Regulations are now in effect. Compliance with the requirements and methodological recommendations set out in the PBU is mandatory when preparing financial statements and maintaining accounting registers in the Russian Federation
1.7 Chart of accounts
In the system of regulatory regulation, the Chart of Accounts occupies an intermediate place between regulatory documents of the second and third levels, i.e. not having a normative legal nature. However, in the practical activities of accounting services, the Chart of Accounts is given paramount importance.
The chart of accounts is a scheme for recording and grouping facts of economic activity in accounting. It contains the names and numbers of synthetic accounts (first order accounts) and subaccounts (second order accounts).
Instructions for the use of the Chart of Accounts establish uniform approaches to the application of the Chart of Accounts and the reflection of facts of economic activity in the accounting accounts. It provides a brief description of synthetic accounts and the subaccounts opened for them: their structure and purpose, the economic content of the facts of economic activity generalized on them, and the order in which the most common facts are reflected are revealed.
The chart of accounts was approved by order of the Ministry of Finance of the Russian Federation dated October 31, 2000 N 94n (as amended on November 8, 2010) and is valid in 2013 and 2014.
The Chart of Accounts 2000 (as amended on November 8, 2010) is unified and mandatory for use in organizations of all sectors of the national economy and types of activities (except for banks and budgetary institutions), regardless of subordination, form of ownership, organizational and legal form, keeping records double entry method.
Based on the Chart of Accounts and the Instructions for its use, organizations approve a working chart of accounts containing a complete list of synthetic and analytical accounts (including subaccounts). To account for specific transactions, organizations can, in agreement with the Ministry of Finance of the Russian Federation, enter, if necessary, additional synthetic accounts into the Chart of Accounts using free account codes.
The subaccounts provided for in the Chart of Accounts are used based on the requirements of the organization's management, including the needs of analysis, control and reporting. Organizations can clarify the content of individual ones, as well as introduce additional subaccounts, exclude or combine them.
The procedure for maintaining analytical accounting is established by the organization based on the provisions of the Instructions for the application of the Chart of Accounts and regulations for individual sections of accounting (accounting for fixed assets, materials, etc.). New business entities (for example, small businesses) can use working charts of accounts, which significantly reduce the number of accounts used.
In a single Chart of Accounts, accounts are grouped into eight sections. Off-balance sheet accounts are highlighted separately. The basis for grouping accounts into sections is the economic characteristics of the objects taken into account - each section reflects economically homogeneous types of property, liabilities and business transactions. The sections are arranged in a certain sequence in accordance with the nature of the participation of the property in its circulation. First, sections with accounts of property necessary for the production process are reflected (section I "Non-current assets", section II "Inventories"). Then sections are shown with accounts of production costs, finished products and goods, cash and settlements (sections III - VI). Thus, the first six sections group accounts of property and processes in the spheres of production and circulation. Property is reflected in sections according to the principle of liquidity - from difficult to sell to easily sold.
The organization's obligations are reflected in section. VI. The following sections reflect the capital and financial results of the organization (Sections VII, VIII).
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2. Practical part
In order to analyze the current assets of Astra CJSC, I will build a table of horizontal and vertical analysis of the assets of this organization (according to Form No. 1).
Table 1
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Indicators |
Balance balance |
Changes |
Tempo Dynamics % |
Balance balance |
Changes |
Tempo Dynamics % |
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Non-current assets (total) |
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V. including intangible assets |
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Deferred tax assets |
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Current assets (total) |
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Including stocks |
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VAT on purchased assets |
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Accounts receivable |
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Cash and cash equivalents |
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Other current assets |
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To calculate the efficiency of using working capital of Astra CJSC, I will build a table with data taken from f. No. 1, f. No. 2.
table 2
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Index |
Changes |
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1. Total receipts (net): |
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2. Average annual balances of current assets (0.5*(line 290 for the current year + line 290 for the current year) |
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3.Turnover ratio (accurate to 0.001(Ko = Vyr. / Asr) |
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4. Turnover ratio based on the sales volume of the analyzed period and the average annual balances of the previous year (1 report/2 previous). |
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5. Economic effect in terms of turnover ratio |
After the calculations, we can conclude that for the reporting period 2012. the Astra organization increased the value of its assets to 136,921 rubles, which is compared to 2011. for 37996t.r. more (dynamic rate 138.4%). In 2012 there was a greater increase in assets than during the period from 2010 to 2011; there the increase was only 13,525t. r. (dynamic rate 115.83%). But, based on the balance sheet data for 2012, it can be judged that assets grew (compared to 2011) largely due to deferred tax assets by 37 thousand rubles (reserves were probably created), (dynamic rate 186.05% ), due to an increase in reserves by 21,706 tr. (dynamic rate 131.98%) and due to accounts receivable for 14,448 thousand rubles. (dynamic rate 186.3%).
The value of current assets in total for 2012. amounted to 121009t.r. or 88.4% The share of current assets increased by 4.4%. Including: reserves - 89589t.r. or 64.03%, the share decreased by 4.57%; accounts receivable - 31186t.r. or 24.24%, the share increased by 7.34%; cash and cash equivalents - 12t.r. or 0.009%, the specific gravity decreased to 0.071%; other current assets - 221t.r. or 0.16%, the share decreased by 0.17%.
An increase in the amount of accounts receivable against the background of a decrease in cash indicates that the organization uses a commercial loan to make advances to its customers. An increase in accounts payable (according to the balance sheet) and an increase in the amount of borrowed funds indicates the mobile structure of both the assets and liabilities of the organization.
For 2012 there was an increase in the efficiency of additional investments in current assets, as evidenced by the turnover rate (Table 2) - 0.037%. However, if we calculate the economic effect by the turnover ratio, it amounted to -1801 tr, from this we can judge that this organization used it effectively.
Based on the above, having performed calculations and analyzed individual items of the financial statements, we can conclude that the Astra organization in the reporting year slightly increased its capabilities and decreased its net profit, as it invested part of the funds in fixed assets and deferred tax assets. The (insignificant!) increase in the share of retained earnings influenced the growth of equity capital, and hence the strengthening of financial independence.
The increase in accounts receivable had a positive effect on the liquidity of assets, which is necessary for the sustainable functioning and development of production and financial activities.
Despite the appearance of a positive state of the organization’s financial statements, it still has negative aspects:
Excess accounts receivable - at the beginning of the year 16.9%, at the end of the year 24.24%. This leads to an imbalance of liquid and hard-to-sell assets.
Summarizing all of the above, we can draw the following conclusion:
The regulatory framework for accounting includes a whole complex of norms, regulations and instructions; on the basis of which a business plan is drawn up, funds are accrued, taxes are deducted, analyzes of the organization’s activities are carried out and other calculations are performed. These include legal, material, labor, monetary standards and standards for contributions to funds and taxes.
In Russia, work continues to improve the regulatory framework for accounting and reporting in pursuance of the Accounting Reform Program in accordance with international financial reporting standards, approved by Decree of the Government of the Russian Federation of March 6, 1998 N 283. The goal of transforming the domestic accounting system is to bring it into compliance with the requirements of a market economy, and the information contained in the financial statements with the requirements established by international financial reporting standards. The accounting regulatory system that organizations must follow consists of documents at four levels:
Level 1 - legislative acts, decrees of the President of the Russian Federation and Government resolutions regulating directly or indirectly the organization on the maintenance of accounting records in the organization;
Level 2 - standards (regulations) for accounting and reporting;
Level 4 - working documents on the accounting of the organization itself.
The fundamentals for building an accounting system are determined by the Concept of Accounting in a Market Economy of Russia, which was approved by the Methodological Council on Accounting under the Ministry of Finance of the Russian Federation and the Presidential Council of the Institute of Professional Accountants on December 29, 1997.
Bibliography
1. Androsov A. M., Vikulova E. V., “Accounting”, M., INFRA - M, 2000.
2. Bakaev A. S. “Accounting terms and definitions”, Library of the journal “Accounting”, 2002.
3. Bakshinskas V. Yu. “Legal regulation of economic activities”, M., “Information Agency IPB-BINFA”, 2002.
4. Lozhnikov I. N. “On the transition of the Russian Federation to international financial reporting standards” // “Tax Bulletin”, No. 12, 2002.
5. “Regulatory framework of accounting: Collection of official materials”, / Preface. And comp. A. S. Bakaev, M., “Accounting”, 2003
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Russian system of regulatory regulation of accounting: essence, concept, models, levels: legal, regulatory, methodological, organizational; strict hierarchy, logical sequence in the development of accounting legislation.
Improving the country's financial market requires constant work to improve the methods and forms of its regulation. The financial information necessary for this is obtained by the most famous tool at the moment - accounting of economic activities, without which, in the modern world, the activity of any organization is in principle impossible. That is why the well-being of an organization depends no less on the knowledge and professionalism of an accountant than on its personnel and manager.
For a long time, the situation with accounting reporting and financial law was such that the two mandatory scientific bases were applied only by the relevant specialists in each field - accountants kept records, lawyers worked with financial and legal issues. But law has long become an urgent need for both accountants and managers. For a modern accountant, knowledge about the regulatory framework of accounting, contracts, transactions, property, labor relations and many other aspects of an enterprise’s activities is now mandatory; without it, successful accounting without errors is impossible.
Accounting support for any enterprise is provided in strict accordance with regulations issued by government agencies of the country where the activity is carried out.
Acts, in turn, are provided with a certain hierarchy, according to which each of them has its own priority - in jurisprudence, such a hierarchy is called the familiar term “rule of law”. In contrast to the rule of law, what is meant here is not the general concept of the rule of law over each and every citizen, regardless of his status, and the general concept of the principle of legality and humanism, but the literal dominance of one legislative act over another - depending on the established system of their purpose and status .
The main role in determining the supremacy of one act over another is played by the legislative entity that issued it - the Resolution of the head of a local municipality will always play a lesser role and have less priority compared to the Decree of the President of the Russian Federation. Moreover, if controversial issues arise, it is the Decree that will be accepted for execution, and the controversial act will be considered as one that contradicts the Decree and, to the extent that its provisions differ from the provisions set forth in the Decree, such a Decree will not be in force.
Regulatory basis for accounting reports
The first stage of regulatory regulation in the field of accounting in the Russian Federation is the Labor Code and the Tax Code. The Labor Code is important for an accountant in many aspects - labor regulation, its management and organization, issues regarding wages, financial liability, and others. On its basis, the accountant works with local acts of the organization, such as: staffing, employment contracts, regulations on wages and others, in addition, the Labor Code establishes the basis for keeping records of working hours, as well as rest time. As for the Tax Code, it establishes a federal system of taxes and fees, which applies to absolutely any organization, regardless of its status or type of activity. With its help, the accountant solves problems that arise in the process of tax control by the state, clarifies the procedure and deadlines for filing mandatory reports, as well as the mechanism and deadlines for paying taxes and fees.
The next, second level of the regulatory framework is federal. The most important document of this level is the Law of the Russian Federation “On Accounting” dated November 21, 1996 N129, which defines the essence and fundamentals of accounting, its objects, tasks, and also establishes the rights, duties of an accountant and his responsibilities in this area. In addition, the Law determines what exactly is included in financial statements and contains requirements for them. There are several dozen other Federal laws that are used in accounting, for example, the Federal Law “On Currency Regulation and Currency Control”, “On Financial Lease (Leasing)”, “On Financial Lease (Leasing)”. Each of them has its own specifics, due to which knowledge of these laws for some accountants is very important for conducting an important area of the economic activity of their enterprise, while for some they do not play any role, since they are not used in work at a separate enterprise in connection with a different profile activities.
The third level of the accountant's regulatory framework consists of specialized acts on accounting of the Ministry of Finance, as well as Resolutions of the Government of the Russian Federation. The following documents occupy a special place among them:
- Chart of accounts for accounting financial and economic activities of organizations and Instructions for its application (Order of the Ministry of Finance dated October 31, 2000 N94n),
- Regulations on accounting (Order of the Ministry of Finance dated July 29, 1998 N34n),
- Other PBUs No. 1-23, approved by Orders of the Ministry of Finance from 1999 to 2011,
- Accounting reform program (according to the Decree of the Government of the Russian Federation dated March 6, 1998 N283).
In addition, this level includes other regulations (Orders, Instructions, Regulations) that establish the procedure for formation.
The fourth and final stage of legislative regulatory regulation consists of methodological guidelines of the Ministry of Finance, as well as other departments, the main purpose of which is to specify articles of laws, as well as accounting provisions; they clarify and explain in detail certain aspects of accounting and reporting according to established standards. As a rule, such instructions affect the regulation of specific industry-specific features of accounting.
Regulation of financial statements within the organization
It is worth noting that in addition to state legislative acts, a separate stage can be distinguished by regulations adopted by the management of the organization, which determine the procedure for maintaining accounting within the organization. Since, according to the current legislation, the organization determines its own accounting policies, forms of primary accounting documents, approves the forms of registers, and so on. This means that the regulations adopted by the enterprise are no less important for the accountant conducting its accounting than those established by the state.
Each enterprise, regardless of the type of activity, carries out certain business operations, and all of them are reflected in the financial statements. Focusing on all of the above regulatory documents, the accountant summarizes the indicators obtained during the activities of the enterprise, keeps registers on their basis, draws up interim and annual reports, as well as appendices to them. In addition, to submit this data to authorized government bodies, the accountant submits explanations to the financial statements, drawn up in the form of an explanatory note, which contains additions to the contents of all provided forms. Not only the financial well-being of the organization, but also the decision-making of other users - shareholders, investors, tax inspectors, clients and others - depends on the truthfulness and reliability of the statements prepared by the accountant. That is why the existing legislative system is of great practical importance and establishes a unified procedure for summarizing information about an enterprise in a condensed form - in the form of financial statements.
Fragment of O.L. Kharalgina’s seminar “Annual Accounting Reports”
42. Incomplete capital investments are reflected in the balance sheet at the actual costs incurred by the organization.
Financial investments
43. Financial investments include investments by an organization in government securities, bonds and other securities of other organizations, in the authorized (share) capital of other organizations, as well as loans provided to other organizations.
44. Financial investments are taken into account in the amount of actual costs for the investor. For debt securities, the difference between the amount of actual acquisition costs and the nominal value during their circulation period is allowed to be attributed evenly as the income due on them is accrued to the financial results of a commercial organization or an increase in expenses of a non-profit organization.
Organizations acting as professional participants in the securities market may revaluate investments in securities purchased for the purpose of generating income from their sale as quotes on the stock exchange change.
Objects of financial investments (except for loans) that have not been paid in full are shown on the asset side of the balance sheet in the full amount of the actual costs of their acquisition under the agreement with the assignment of the outstanding amount to creditors in the liability side of the balance sheet in cases where the rights to the object have been transferred to the investor. In other cases, amounts contributed to the account of financial investment objects subject to acquisition are shown in the asset balance sheet under the item debtors.
45. An organization’s investments in shares of other organizations listed on the stock exchange, the quotation of which is regularly published, are reflected at the end of the reporting year at market value when preparing the balance sheet.
Fixed assets
46. To fixed assets as a set of material assets used as means of labor in the production of products, performance of work or provision of services, or for the management of an organization for a period exceeding 12 months, or the normal operating cycle, if it exceeds 12 months, include buildings, structures, working and power machines and equipment, measuring and control instruments and devices, computer technology, vehicles, tools, production and household equipment and supplies, working and productive livestock, perennial plantings, on-farm roads and other fixed assets.
Fixed assets also include capital investments in radical land improvement (drainage, irrigation and other reclamation works) and in leased fixed assets.
Capital investments in perennial plantings and radical land improvement are included in fixed assets annually in the amount of costs related to the areas accepted for operation in the reporting year, regardless of the completion date of the entire complex of works.
Fixed assets include land plots owned by the organization and environmental management facilities (water, subsoil and other natural resources).
47. Completed capital investments in leased fixed assets are credited by the tenant organization to its own fixed assets in the amount of actual costs incurred, unless otherwise provided by the lease agreement.
48. The cost of the organization's fixed assets is repaid by calculating depreciation over their useful life.
Depreciation of fixed assets is calculated regardless of the results of the organization’s economic activities in the reporting period in one of the following ways:
linear method;
method of writing off the cost in proportion to the volume of products (works, services);
reducing balance method;
a method of writing off cost based on the sum of the numbers of years of useful life.
Fixed assets of non-profit organizations are not subject to depreciation.
The cost of land plots and environmental management facilities is not repaid.
49. Fixed assets are reflected in the balance sheet at their residual value, i.e. at the actual costs of their acquisition, construction and manufacture minus the amount of accrued depreciation.
Changes in the initial cost of fixed assets in cases of completion, additional equipment, reconstruction and partial liquidation, revaluation of relevant objects are disclosed in the appendices to the balance sheet. A commercial organization has the right, no more than once a year (at the end of the reporting year), to revaluate fixed assets at replacement cost by indexation or direct recalculation at documented market prices with attribution of any resulting differences to the organization’s additional capital, unless otherwise established by regulatory legal acts in accounting.
54. Material assets remaining from the write-off of fixed assets unsuitable for restoration and further use are accounted for at market value on the date of write-off.
Intangible assets
55. Intangible assets used in economic activity for a period exceeding 12 months and generating income include rights arising:
from patents for inventions, industrial designs, selection achievements, from certificates for utility models, trademarks and service marks or licensing agreements for their use;
Depreciation is not accrued for intangible assets of non-profit organizations.
Amortization of intangible assets is calculated regardless of the organization's performance in the reporting period.
The acquired business reputation of the organization must be adjusted within twenty years (but not longer than the life of the organization).
Depreciation charges for the positive business reputation of an organization are reflected in accounting by reducing its initial cost. The negative business reputation of the organization is written off in full to the financial results of the organization as other income.
57. Intangible assets are reflected in the balance sheet at their residual value, i.e. at the actual costs of acquisition, production and costs of bringing them to a state in which they are suitable for use for the intended purposes, minus accrued depreciation.
Raw materials, materials, finished products and goods
58. Raw materials, main and auxiliary materials, fuel, purchased semi-finished products and components, spare parts, containers used for packaging and transportation of products (goods), and other material resources are reflected in the balance sheet at their actual cost.
The actual cost of material resources is determined based on the actual costs incurred for their acquisition and production.
Determining the actual cost of material resources written off for production is permitted using one of the following inventory valuation methods:
at the cost of a unit of inventory;
at average cost;
at the cost of the first acquisitions (FIFO).
59. Finished products are reflected in the balance sheet at actual or standard (planned) production costs, including costs associated with the use of fixed assets, raw materials, materials, fuel, energy, labor resources, and other costs for production of products or direct cost items.
60. Goods in organizations engaged in trading activities are reflected in the balance sheet at the cost of their acquisition.
When selling (dispensing) goods, their value may be written off using the valuation methods set out in paragraph 58 of these Regulations.
When an organization engaged in retail trade accounts for goods at sales prices, the difference between the acquisition cost and the cost at sales prices (discounts, markups) is reflected in the financial statements as a value that adjusts the cost of goods.
61. Goods shipped, works delivered and services rendered, for which revenue is not recognized, are reflected in the balance sheet at the actual (or standard (planned) full cost, which includes, along with production costs, costs associated with the sale (sale) of products, works, services , reimbursed by the agreed (contract) price.
The amount of the reserve is determined separately for each doubtful debt, depending on the financial condition (solvency) of the debtor and the assessment of the likelihood of repaying the debt in whole or in part.
If by the end of the reporting year following the year in which the reserve for doubtful debts was created, this reserve is not used in any part, then the unspent amounts are added to the financial results when drawing up the balance sheet at the end of the reporting year.
Settlements with debtors and creditors
73. Settlements with debtors and creditors are reflected by each party in its financial statements in the amounts arising from the accounting records and recognized by it as correct. For loans and credits received, the debt is shown taking into account the interest due at the end of the reporting period.
74. The amounts reflected in the financial statements for settlements with banks and the budget must be agreed upon with the relevant organizations and identical. Leaving unresolved amounts for these settlements on the balance sheet is not permitted.
75. Balances of foreign currency funds on the organization’s foreign currency accounts, other funds (including monetary documents), short-term securities, receivables and payables in foreign currencies are reflected in the financial statements in rubles in amounts determined by converting foreign currencies at the exchange rate of the Central Bank of the Russian Federation effective as of the reporting date.
76. Fines, penalties and penalties recognized by the debtor or for which court decisions on their collection have been received are attributed to the financial results of a commercial organization or an increase in income (reduction of expenses) of a non-profit organization and, before their receipt or payment, are reflected in the balance sheet of the recipient and the payer according to the items of debtors or creditors.
77. Accounts receivable for which the statute of limitations has expired, and other debts that are unrealistic for collection, are written off for each obligation based on the inventory data, written justification and order (instruction) of the head of the organization, and are assigned, respectively, to the account of the reserve for doubtful debts or to financial results of a commercial organization, if during the period preceding the reporting period, the amounts of these debts were not reserved in the manner prescribed by paragraph 75 of these Regulations, or to increase expenses of a non-profit organization.
Writing off a debt at a loss due to the debtor's insolvency does not constitute cancellation of the debt. This debt must be reflected on the balance sheet for five years from the date of write-off in order to monitor the possibility of its collection in the event of a change in the debtor's property status.
78. Amounts of accounts payable and depositors for which the statute of limitations has expired are written off for each obligation based on the inventory data, written justification and order (instruction) of the head of the organization and are attributed to the financial results of a commercial organization or an increase in income of a non-profit organization.
Profit (loss) of the organization
79. Accounting profit (loss) is the final financial result (profit or loss) identified for the reporting period on the basis of accounting of all business transactions of the organization and assessment of balance sheet items according to the rules adopted by regulatory legal acts on accounting.
80. Profit or loss identified in the reporting year, but relating to operations of previous years, are included in the financial results of the organization for the reporting year.
82. In the case of the sale and other disposal of the organization’s property (fixed assets, inventories, securities, etc.), the loss or income from these transactions is attributed to the financial results of a commercial organization or an increase in expenses (income) of a non-profit organization.
83. In the balance sheet, the financial result of the reporting period is reflected as retained earnings (uncovered loss), i.e. the final financial result identified for the reporting period, minus taxes and other similar mandatory payments due from profits established in accordance with the legislation of the Russian Federation, including sanctions for non-compliance with tax rules.
IV. Procedure for submitting financial statements
84. All organizations submit annual financial statements in accordance with the constituent documents to the founders, participants of the organization or owners of its property, as well as to the territorial bodies of state statistics at the place of their registration. State and municipal unitary enterprises submit financial statements to bodies authorized to manage state property.
Financial statements are presented to other executive authorities, banks and other users in accordance with the legislation of the Russian Federation.
The organization is obliged to submit financial statements to the established addresses, one copy free of charge.
85. Organizations are required to submit annual financial statements in the forms provided for in paragraph 30 of these Regulations.
Small businesses and non-profit organizations are not allowed to submit a cash flow statement. In addition, small businesses have the right not to submit an appendix to the balance sheet, other appendices and an explanatory note.
86. Organizations are required to submit annual financial statements within 90 days after the end of the year, unless otherwise provided by the legislation of the Russian Federation, and quarterly - in cases provided for by the legislation of the Russian Federation - within 30 days after the end of the quarter.
Within the specified time frame, the specific date for submitting financial statements is established by the founders (participants) of the organization or the general meeting.
88. The day an organization submits its financial statements is determined by the date of its mailing or the date of actual transmission according to ownership.
If the date of submission of financial statements falls on a non-working (weekend) day, then the reporting deadline is considered to be the first working day following it.
89. The annual financial statements of an organization are open to interested users: banks, investors, creditors, buyers, suppliers, etc., who can familiarize themselves with the annual financial statements and receive copies of them with reimbursement of copying costs.
The organization must provide an opportunity for interested users to familiarize themselves with the financial statements.
Accounting statements containing indicators classified as state secrets under the legislation of the Russian Federation are presented taking into account the requirements of the said legislation.
90. In cases provided for by the legislation of the Russian Federation, the organization publishes financial statements and an audit report.
Publication of financial statements is carried out no later than July 1 of the year following the reporting year, unless otherwise established by the legislation of the Russian Federation.
The procedure for publishing financial statements is established by the Ministry of Finance of the Russian Federation and the bodies that are granted the right to regulate accounting by federal laws.
VI. Storage of accounting documents
98. The organization is obliged to store primary accounting documents, accounting registers and financial statements for periods established in accordance with the rules for organizing state archival affairs, but not less than five years.
99. The working chart of accounts, other accounting policy documents, coding procedures, computer data processing programs (indicating the terms of their use) must be stored by the organization for at least five years after the reporting year in which they were used for the preparation of financial statements for the last time.
100. Primary accounting documents can be seized only by the bodies of inquiry, preliminary investigation and prosecutor's office, courts, tax inspectorates and tax police on the basis of their decisions in accordance with the legislation of the Russian Federation.
The chief accountant or other official of the organization has the right, with the permission and in the presence of representatives of the authorities conducting the seizure of documents, to make copies of them indicating the reason and date of seizure.
101. Responsibility for organizing the storage of primary accounting documents, accounting registers and financial statements lies with the head of the organization.
In pre-revolutionary times, Russia occupied one of the last places among large European countries in systematizing and publishing knowledge on accounting and financial reporting. Familiarity with the double entry system and its application in practice was realized in Russia only at the end of the 18th century. This fact is explained by the fact that there were no capital markets, there were no large corporations and other market institutions. enterprises, as a rule, was limited to the framework of accounting, although in pre-revolutionary Russia such a scientific direction as balance sheet science arose.
The development of accounting thought in Russia and the political characteristics of the country influenced the nature of regulations regarding the requirements for financial reporting, as well as its essence and purposes.
Many Russian scientists, such as D.Ya. Solomatin, D.M. Kochetkov, T.Ya. Prokudin and many others. Honored Scientist of the Russian Federation I'M IN. Sokolov(1938-2010) in his works explored the history of the development of accounting and reporting in Russia.
D.Ya. Solomatin highlights five stages in the development of accounting reporting in Russia:
- formation (1898-1916);
- reporting during war communism (1917-1921);
- reporting during the NEP period and during the Great Patriotic War (1921-1945);
- reporting in the post-war years under a rigid administrative system (1946-1980);
- reporting at the present stage - market relations in Russia (1981-2005).
D.M. Kochetkov supplemented this classification with the stage of the origin of reporting (1654-1898).
Researcher T.Ya. Prokudin Having analyzed the development of accounting, he identified four stages in the development of reporting depending on the historical period.
Based on the classification developed by Soviet scientists, as well as on regulatory documentation in the field of accounting and reporting and exploring the historical stages in more detail, we offer a modified version of the classification of the stages of formation of accounting and reporting in Russia, based on the dialectics of the country’s development features in different periods. When developing the classification, a study of institutional changes in the theory and practice of financial reporting in the Russian Federation was used. Basic stages of financial reporting development in the Russian Federation are shown in table. 1.
Table 1. The main stages in the development of financial reporting in Russia
| Stage | Name | Balance sheet and financial reporting scholars | Notes, characteristics, regulations |
|---|---|---|---|
| 1st stage (XVII-XIX centuries) | Origin | Foreign experience adopted under Peter I (1672-1725), historian, economist M.D. Chulkov (1743-1793) | Regulations for the management of the Admiralty and Dockyard (1722). Bankruptcy statute (1800). Law on the procedure for keeping trade books by merchants (1834) |
| 2nd stage (1898-1917) | Becoming | The creator of the balance theory N.S. Lunsky (1877-1942); R.Ya. Weizmann (1870-1936); A.P. Rudanovsky (1863-1934); ON THE. Kiparisov (1873-1956) | Charter on trade tax (1899) |
| 3rd stage (1917-1921) | Stabilization and War Communism | ON THE. Blatov (1875-1942) | Decree of the Council of People's Commissars of the RSFSR dated July 27, 1918 “On trade books” |
| 4th stage (1921-1931) | New Economic Policy (NEP) | I.R. Nikolaev (1877-1942) | New economic policy adopted on March 15, 1921 by the 10th Congress of the Russian Communist Party (Bolsheviks). Order of the Supreme Economic Council of the RSFSR and the NKF of the RSFSR dated March 10, 1928 No. 405 “On mandatory forms of public reporting and on the exchange of account statements” |
| 5th stage (1931-1945) | Pre-war and war years | A.M. Galagan (1879-1938) and others. | Resolution of the Council of People's Commissars of the USSR dated July 29, 1936 No. 1372 “Regulations on accounting reports and balance sheets of state and cooperative economic bodies of enterprises” |
| 6th stage (1945-1964) | Building developed socialism | Academician of the USSR Academy of Sciences S.G. Strumilin (1877-1974); Scientist N.S. Pomazkov (1889-1968) | Appendix to the Resolution of the Council of Ministers of the USSR dated September 12, 1951 No. 3447 “Regulations on accounting reports and balance sheets of state, cooperative and public enterprises and organizations” |
| 7th stage (1964-1985) | Period of stagnation | Scientist, professor, accountant-practitioner N.R. Weizmann (1894-1981) | Resolution of the Council of Ministers of the USSR dated June 29, 1979 No. 633 “On approval of the Regulations on accounting reports and balance sheets” |
| 8th stage (1985-1994) | Pre-perestroika and perestroika period | Doctor of Economics, Professor V.V. Kovalev (1948) | Resolution of the Council of Ministers of the USSR dated October 8, 1987 No. 1123. Resolution of the Council of Ministers - Government of the Russian Federation dated February 12, 1993 No. 121 “On measures to implement the State program for the transition of the Russian Federation to the accounting and statistics system accepted in international practice in accordance with the requirements of the development of a market economy” |
| 9th stage (1994-1998) | Beginning of reform | Federal Law of November 21, 1996 No. 129-FZ Resolution of the Government of the Russian Federation of March 6, 1998 No. 283 “On approval of the Accounting Reform Program in accordance with International Financial Reporting Standards.” Order of the Ministry of Finance of Russia dated July 29, 1998 No. 34n “On approval of the Regulations on accounting and financial reporting in the Russian Federation” | |
| 10th stage (1998-2011) | Unification and standardization | Doctor of Economics, Professor V.F. Paly | PBU 4/99, Order of the Ministry of Finance of Russia dated January 13, 2000 No. 4n “On the forms of financial statements of organizations.” Order of the Ministry of Finance of Russia dated June 28, 2000 No. 60n; Order of the Ministry of Finance of Russia dated July 22, 2003 No. 67n; Order of the Ministry of Finance of Russia dated July 2, 2010 No. 66n; Federal Law of July 27, 2010 No. 208-FZ |
| 11th stage (2011-present) | Global convergence of accounting systems | Federal Law of December 6, 2011 No. 402-FZ; Decree of the Government of the Russian Federation dated February 25, 2011 No. 107; Order of the Ministry of Finance of Russia dated November 25, 2011 No. 160n | |
| 12th stage. Prospects | Prospects | Approval of the draft order on the implementation of International Financial Reporting Standards for the Public Sector (IFRS) |
The smoothly flowing stages of Russia’s historical development influenced the “relativity” of the period in which this or that scientist lived and worked, so the periodization was based on the basic requirements for financial statements of a specific historical stage in the development of the Russian economy.
Application of the theory of "paradigms" of the American historian of science T. Kuna(1922-1995) made it possible to identify institutional patterns and changes in the theory and practice of the development of financial reporting in the Russian Federation. T. Kuhn in his work puts forward the idea of a paradigm, i.e. body of generally accepted knowledge. According to T. Kuhn, scientific knowledge develops in leaps and bounds, through scientific revolutions. Any criterion makes sense only within the framework of a certain paradigm, a historically established system of views. The transition from one paradigm to another constitutes a scientific revolution.
Relying on classification of stages of scientific development of accounting, developed L.A. Tchaikovskaya, as well as the analysis of the formation of financial reporting in Russia carried out by the author of the article, we can confidently conclude that the formation of reporting in the country took place through revolutionary (perestroika) transformations in the country. Thus, the paradigmatic change in financial reporting in the Russian Federation can be depicted as follows in the figure.
Figure 1. Incorporation of IFRS into the current institutional environment for financial reporting in Russia
From the above figure it is clear that the genesis of accounting (financial) reporting in Russia means its origin in 1721 when the All-Russian Emperor Peter I attempted to create the first commercial school. Accounting as a specific science arose through the rivalry of scientific schools and the victory of one of them. The Russian national school was largely formed under the influence of European accounting thought. At the beginning of the 19th century. Two influences on Russian accounting collided: French and German - with the predominance of German influence. The influence of the French school was weaker by the middle of the 19th century. stopped. Italian influence on Russian accounting was short-lived and shallow, and Anglo-American influence essentially did not exist until the 1990s. At the same time, Russian accounting thought met the level of world standards, and in many ways exceeded them. Thus, the creator of the balance theory in Russia was a representative of the Moscow school of accounting N.S. Lunsky.
The formation of accounting reporting as a science occurred at stages from the 2nd to the 6th stage. The legislative structure of the country's economic life, which established the rules of law similar to European law enforcement practice, was distinguished by a mechanism for detailed regulation of the maintenance of accounting books, the organization of state control and taxation. Centralized regulation of formal institutions of accounting and reporting in the post-revolutionary period organically fit not only into the institutional system of the Soviet economy, but was supported by informal institutional formations (culture, traditions, mentality of the nation, etc.).
Thus, the regulation of Soviet accounting and reporting fulfilled the tasks of creating a unified order, reflecting the facts of economic activity and generalized accounting and reporting indicators in analytical and synthetic accounting and financial reporting. The Soviet accounting system, assessed by scientists as unique, met the interests of a society dominated by public ownership of the means of production.
At the initial stages of the construction of socialism, a theoretical platform for centralized accounting regulation was created, and the system of regulation of accounting and reporting built in the country had the following features:
- priority of legislative regulation of economic activities of enterprises, organizations, associations, departments and ministries;
- centralized regulation of accounting and reporting;
- the predominance of accounting regulation over the regulation of accounting reporting procedures;
- lack of accounting and reporting principles in regulatory accounting regulations;
- the primacy of accounting methods and evaluation of its objects over reporting rules;
- unity of regulation of accounting and financial reporting;
- strict rules for the characteristics of types of economic activities in the accounting of business entities.
This political period includes difficult years: revolution, years of war communism, NEP, Stalinist repressions, years of the Great Patriotic War. Undoubtedly, all this was reflected in the nature of financial reporting requirements in these years. During this difficult political period, Russian scientists showed enormous erudition in the theory and practice of accounting, great erudition in foreign, mainly German, literature. This fact undoubtedly makes us proud of Russian science. However, the political situation introduced dependence and nervousness into the development of scientific thought. Thus, the teaching of A.P. Rudanovsky was recognized as bourgeois, and in 1934 he suddenly died of a heart attack. Above A.M. Galagan also organized a show public trial. As a result, he was banned from teaching, and in 1938 he died. Thus, in the 30s. The theory and practice of accounting began to rapidly degrade. Research of the works of the founder of Marxism-Leninism V.I. Lenin showed their inconsistency and controversy. His statement regarding the unreliability of the capitalist balance sheet due to the fact that it is compiled in the interests of the owner has not stood the test of time. In the regulatory documents of the Soviet era, there were no requirements for the balance sheet at the conceptual level, while modern IFRS contain a description of the principles of financial reporting, and also contain in their list IAS 36 “Impairment of Assets”, the main requirement of which is to carry out mandatory checking assets and liabilities for impairment. Also, the thought of V.I. did not stand the test of time. Lenin that in a communist society the functions of accounting and control will “... be performed by everyone in turn, will then become a habit and, finally, will disappear as special functions of a special layer of people.” All these circumstances together ultimately led to a crisis in accounting and reporting as a science, expressed in the accumulation of facts that do not fit into the scientific accounting tradition and cannot be explained within its framework.
This stage is characterized by the important fact that at the time of internal contradictions in the country caused by the period of stagnation and perestroika, significant events are taking place in the world caused by the globalization of the economy, the creation of the European Union, world capital and the introduction of IFRS into the accounting organization of developed countries. Therefore, a timely and fateful event in the development of modern accounting and reporting in Russia was the appearance in the 90s. articles by Professor V.F. Palia, who contributed to the adoption of a new Chart of Accounts for accounting the financial and economic activities of organizations, taking into account changes in the economic mechanism of the country. For the period 1946-1964. The Chart of Accounts has been changed several times. Standard charts of accounts for 1949 and 1954. were cumbersome and overly detailed. The 1949 Chart of Accounts contained 126 accounts, the 1954 Chart of Accounts - 73 synthetic accounts and 139 subaccounts. In 1956 A shortened chart of accounts (45 accounts) was introduced. Since 1960 a unified Chart of Accounts was introduced for enterprises of all types of economic activity of local, republican and union subordination, consisting of 69 synthetic accounts grouped by economic content. V.F. Paliy noted that the reasons for preparing a new Chart of Accounts for accounting the financial and economic activities of organizations in comparison with the current document were the need to take into account foreign economic activity and the need for simultaneous accounting of both commercial activities and the activities of non-profit organizations.
The last classification proposed by the author of the article in the figure is the displacement of the old accounting paradigm with a new one that can explain the newly emerging facts of economic activity. This includes three stages: stage 9, stage 10, stage 11 and the last, stage 12, covering the future transition of accounting in the public sector to IFRS.
Since the early 1990s. The Russian Ministry of Finance began to issue Accounting Regulations, which are national standards for accounting and reporting in the Russian Federation. Using them, you can trace the history of convergence of IFRS with Russian standards. Thus, the Accounting Regulations “Accounting Policy of the Organization” since 1994. revised four times (1994, 1998 and 2008).
The reason for the revision is the emergence of new requirements and editions of accounting policies in IFRS. During this period, the Accounting Regulations (PBU 4/99) were also revised twice. The latest edition of PBU 4/99, which appeared in connection with the Accounting Reform Program in accordance with international financial reporting standards, differs significantly from the previous edition of PBU 4/96 only in that it describes a modern balance sheet model that does not contain the line “losses” in the asset " The remaining differences between the old and new editions of the PBU are insignificant. It should be noted that the preparatory periods preceding the introduction of IFRS in Russia took quite a long time. Many former Soviet republics were ahead of Russia in implementing IFRS. A revolutionary step was the adoption of Order of the Ministry of Finance of Russia dated November 25, 2011 No. 160n “On the implementation of International Financial Reporting Standards and Explanations of International Financial Reporting Standards on the territory of the Russian Federation,” which should be applied when constructing consolidated statements.
Definitions of accounting (financial) statements in the current regulations of RAS and IFRS
Federal Law of November 21, 1996 No. 129-FZ “On Accounting”. PBU 4/99 “Accounting statements of an organization.” Accounting statements are a unified system of data on the property and financial position of an organization and the results of its economic activities, compiled on the basis of established forms. Federal Law of December 6, 2011 No. 402-FZ “On Accounting” Accounting (financial) statements - information on the financial position of an economic entity as of the reporting date, the financial result of its activities and cash flows for the reporting period, systematized in accordance with the requirements established by this Federal Law. IAS 1. Presentation of Financial Statements Financial statements are a structured representation of the financial position and financial performance of an enterprise. The purpose of financial statements is to provide information about the financial position, financial performance and cash flows of an enterprise that is useful to a wide range of users in making economic decisions. General purpose financial statements (referred to as “financial statements”) are statements designed to meet the needs of those users who are unable to obtain statements prepared specifically to meet their specific information needs.
The study found that the definition of reporting contained in the previous Accounting Law did not specify that information on the financial position is reflected “as of the reporting date”, and information on the financial result is reflected “for the reporting period”. The definition enshrined in 129-FZ did not contain temporal certainty of the facts reflected in the reporting. The definition of financial statements in 402-FZ generally returned to the edition of PBU 4/96, but it was supplemented by a mention of the cash flow statement. In the author's opinion, this addition is not entirely correct, since the cash flow statement is part of the explanations to the balance sheet and profit and loss statement. Since the explanations, in addition to the statement of cash flows, also include a statement of changes in equity, this inaccuracy should be corrected either by including a statement of changes in equity in the definition, or by removing specificity regarding the explanations.
Back in 2011, the Russian Ministry of Finance published a draft Plan for the further development of accounting and reporting in the Russian Federation based on International Financial Reporting Standards for 2012-2015. Among the list of events the following can be noted:
- introduction of simplified accounting procedures and simplified individual accounting (financial) reporting for certain categories of business entities;
- development of proposals for the implementation of a differentiated approach to accounting and financial reporting by business entities;
- development of proposals to strengthen state supervision over the timeliness and completeness of disclosure of accounting (financial) statements by business entities;
- development of recommendations for the organization and implementation by business entities of internal control over accounting and preparation of accounting (financial) statements;
- development of proposals for introducing amendments and additions to legislation on issues of administrative, criminal and civil liability of business entities, their managers and other officials for the timeliness, completeness and reliability of disclosure of accounting (financial) statements, etc.
Thus, the listed activities allow us to hope that the prospects for the development of financial accounting and reporting in our country through reforming accounting in accordance with international standards will increase prestige and attract new personnel to such a complex, but always in demand accounting profession.
Bibliography:
- Concept for the development of accounting and reporting in the Russian Federation for the medium term: approved by Order of the Ministry of Finance of Russia dated July 1, 2004 No. 180.
- Kuhn T. Structure of scientific revolutions. M.: Progress, 1977. P. 11-12.
- On approval of the Accounting Reform Program in accordance with international financial reporting standards: Decree of the Government of the Russian Federation dated March 6, 1998 No. 283.
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