Home  Journals  Economic Analysis: Theory and Practice  3(570) - 2026 March

Russian Accounting Standard (FSBU) 4/2023 – Accounting (Financial) Statements: Analysis of application and recommendations for improvement

Received: 21 January 2026

Accepted: 16 February 2026

Available online: 30 March 2026

Subject Heading: ANALYSIS OF FINANCIAL CAPITAL

JEL Classification: M41, М49

Pages: 195-206

https://doi.org/10.24891/eamfqe

Subject. This article discusses the issues of application of the Russian Accounting Standard (FSBU) 4/2023 – Accounting (Financial) Statements.
Objectives. The article aims to analyze the practical application of FSBU 4/2023 – Accounting (Financial) Statements in the context of early adoption of FSBU 9/2025 – Income, identify shortcomings, and prepare practical recommendations for improving the Standard.
Methods. For the study, I used the methods of comparison, grouping, generalization, and analogy.
Results. Based on the analysis of the provisions of FSBU 4/2023 – Accounting (Financial) Statements and the results of its practical application, the article identifies shortcomings that hinder the implementation of this Standard. Based on the results of the conducted studies, the article also presents recommendations for improving the provisions of the new Standard.
Conclusions and Relevance. The Russian Accounting Standard (FSBU) 4/2023 – Accounting (Financial) Statements requires significant revisions, including requirements for disclosure of information on newly introduced standards, as well as the interests of various user groups. The research results can be applied to improve the quality and reliability of accounting information disclosed in organizations' financial statements, as well as to develop proposals for improving the Standard.

Keywords: balance sheet, profit and loss statement, revenue when ready

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