Igonina T.V.Lobachevsky State University of Nizhny Novgorod - National Research University (UNN), Nizhny Novgorod, Russian Federation tdruzhilovskaya@yandex.ru
Subject The subject of the research is a number of problems of further reform of the Russian accounting system. Objective The objective is to substantiate the areas of improving accounting regulations on organizations' liabilities. Methods The research methods include a critical analysis of statutory regulation of liabilities accounting at the present stage. Results We have formulated the proposals on reforming the Russian Accounting Standards system in the sphere of organizations' liabilities accounting. The proposals include a set of recommendations on the amendments to effective statutory documents on accounting and on adopting new standards to the RAS to perfect the liabilities accounting rules. We have systematized the proposals on liabilities accounting and classified them into three areas: improving the conceptual framework of liabilities accounting; developing regulations on specific types of liabilities accounting; improving the requirements for disclosure of information on organizations' liabilities in financial statements. As for the conceptual framework, we propose to include into the Russian Accounting Standards the definition of a "liability" concept (based on our wording), basic approaches to measuring liabilities and interpretation of liabilities' economic substance as an object of accounting. As for developing regulations on specific types of liabilities accounting, we propose new accounting regulations and amendments to the existing provisions to ensure the improvement of accounting rules for liabilities in the sphere of labor, tax, as well as for contingent and financial liabilities. Practical Application The results are of practical importance in the field of normative regulation of accounting. Conclusions We have justified the conclusion that the recommended changes in the statutory regulation of liabilities accounting will provide a higher degree of reliability and completeness of information in financial statements, and promote the convergence of RAS regulations on liabilities accounting with the IFRS requirements.
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