The subject of the research is the issues associated with recording the effects of changes in accounting policies of organizations retrospectively. The aim is to substantiate the possibility of using the financial statements transformation techniques for retrospective record of changes in accounting policies. The methodology of the research includes a critical analysis of statutory regulation and various scientific views on approaches to retrospective record of changes in accounting policies, as well as to methods of financial statements transformation. As a result of critical analysis of the Russian statutory regulation on accounting and various scientific sources, the author makes well-reasoned conclusions about the lack of comprehensive regulations on reflecting the effects of changes in accounting policies of organizations in a retrospective way. Based on the study of the economic nature of financial statements transformation, the author underpinned the generality of the economic substance of financial statements transformation to generate accounting information under accounting standards, which differ from the originally applied standards, and to reflect the effects of changes in accounting policies in a retrospective way. The author compared various approaches to the transformation of financial statements, which are available in scientific literature, and provided a rationale for expanding the scope of application and extensive use of respective techniques for retrospective record of changes in accounting policy of organizations. The conclusions have applied significance and theoretical value in the accounting and reporting sphere. The author proposed a generalized interpretation of financial statements transformation, the stages and procedures of the transformation process, and justified the recommendations on applying the transformation methodology for retrospective recording the change in accounting policy of organizations.
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