Subject To approximate Russian Accounting Standards to IFRS, Regulation On Bookkeeping and Accounting № 34н (Regulation № 34н) was subject to amendments under Order of the Russian Federation Ministry of Finance of December 24, 2010 № 186н. The amendments are effective from January 01, 2011; some of them relate to the omission of the deferred income definition from the text of Regulation № 34н. Objectives The study aims to analyze the existing statutory regulations and methodological documents regulating accounting for deferred income in the Russian Federation, and to identify the influence of amendments to Regulation № 34н on the common accounting practice for this accounting category. Methods We have reviewed statutory and methodological documents regulating accounting treatment of deferred income in the Russian Federation, analyzed expert opinion on how the amendments to Regulation № 34н impact the common practice of this category accounting. Results We provide a list of revenues that currently are excluded from the deferred income, and the revenues that continue to be considered as part of deferred income under effective rules. We offer an accounting procedure for such revenues given the requirements of the current legal framework. Conclusions and Relevance It is important to address the difficulties resulting from the elimination of the deferred income category from some regulatory documents. The identified inconsistencies in accounting regulation should be reconciled to achieve uniformity in accounting regulations.
Davydova O.V. Uchet tovarov, poluchennykh bezvozmezdno [Accounting for donated goods]. Torgovlya: bukhgalterskii uchet i nalogooblozhenie = Trade: Accounting and Taxation, 2013, no. 7. Available at: Link.
Krutyakova T.L. Godovoi otchet 2013 [Annual report 2013]. Moscow, AiSi Grupp Publ., 2013, 358 p.
Semenikhin V.V. Nalog na pribyl' organizatsii, dokhody i raskhody [Corporate tax, income and expenses]. Moscow, GrossMedia, ROSBUKh Publ., 2014, 1983 p.
Snegirev A.G. Uchet “besplatnogo” kholodil'nogo oborudovaniya [Accounting for free-of-charge refrigeration equipment]. Predpriyatiya obshchestvennogo pitaniya: bukhgalterskii uchet i nalogooblozhenie = Public Catering Facilities: Accounting and Taxation, 2013, no. 7. Available at: Link.
