Subject. This article discusses the problems of accounting for non-financial tangible assets associated with the introduction of new FSBU (Russian Federal Accounting Standards) for commercial organizations and non-profit organizations outside the public sector. Objectives. The article aims to study and systematize the impact of the new FSBU regulations on the accounting for non-financial tangible assets, justify the convergence of this accounting with IFRS regulations, identify problems, and justify the prospects for their solution. Methods. For the study, I used the methods of critical analysis, synthesis, comparison, observation, and the analogy approach. Results. The article describes the impact of the adoption of the new FSBU on the accounting for non-financial tangible assets, such as inventories, fixed assets, investment real estate, biological assets. It identifies the degree to which this accounting is linked to IFRS regulations, as well as the problems associated with the recognition, evaluation and reflection in the reporting of non-financial tangible assets in the reporting of Russian organizations as a result of the introduction of the new FSBU. The article shows the prospects for solving the problematic aspects of accounting for non-financial tangible assets of Russian organizations. Conclusions and Relevance. The introduction of the new FSBU will help significantly bring the accounting for non-financial tangible assets to IFRS requirements. The introduction of the new FSBU does not eliminate all differences from IFRS requirements in accounting for and reporting of non-financial tangible assets of Russian organizations. Solving the problematic aspects of the introduction of regulations of the new FSBU will contribute to the prospects for further reform of the Russian accounting. The results obtained have both applied and theoretical applications in the field of financial accounting.
Lychagina L.L. [The comparative analysis of basic provisions of the accounting of material and production stocks in the Russian standards of accounting and IFRS]. Ekonomika i predprinimatel'stvo = Journal of Economy and Entrepreneurship, 2014, no. 2, pp. 125–132. (In Russ.)
Shirokova A.V. [Accounting of inventories in the context of the project FSBU "Inventories", RAS 5/01 "Accounting of Material and Production Inventories"and IAS 2 "Inventories"]. Izvestiya Instituta sistem upravleniya SGEU = Izvestia of Institute of Management Systems of SSEU, 2017, no. 2, pp. 193–196. (In Russ.)
Oganyan M.A. [The comparison of inventory accounting requirements in Russian and International Accounting Standards]. Izvestiâ Sankt-Peterburgskogo gosudarstvennogo èkonomičeskogo universiteta, 2008, no. 1, pp. 166–169. (In Russ.)
Klimkova T.V. [Comparison of inventory estimates under PBU 5/01 and IFRS (IAS) 2]. Global and Regional Research, 2019, vol. 1, no. 4, pp. 76–79. (In Russ.) URL: Link
Suvorov A.V. [Accounting for fixed assets in accordance with the Russian Accounting Regulations and IFRS]. Bukhgalterskii uchet v byudzhetnykh i nekommercheskikh organizatsiyakh = Accounting in Budgetary and Non-Profit Organizations, 2007, no. 12, pp. 34–38. URL: Link (In Russ.)
Demina I.D., Dombrovskaya E.N. [Problems of the application of the project AR 6 "Accounting for Fixed Assets" in the national accounting practice]. Vestnik Universiteta, 2014, no. 4, pp. 163–172. URL: Link (In Russ.)
Blimgotova Z.I. [Comparative characteristics of PBU 6/01 "Accounting for Fixed Assets" and IFRS IAS 16]. Novaya nauka: Ot idei k rezul'tatu, 2017, vol. 1, no. 2, pp. 82–85. (In Russ.)
Kulikova L.I., Druzhilovskaya T.U., Druzhilovskaya E.S. Challenges of the Practical Application of International Accounting Standard on Property, Plant and Equipment by Russian Companies. Journal of Engineering and Applied Sciences, 2018, vol. 13, no. 3, pp. 569–574.
Dem'yanenko E.Yu., Sitenko E.A. [Similarities and Differences in Accounting for Property, Plant and Equipment According to FSBU and IFRS]. News of Science and Education, 2018, vol. 11, no. 1, pp. 079–083. (In Russ.)
Aldarova T.M. [Lease accounting in tenant's books: analysis of the provisions of IFRS (IAS) 17 "Leases" and IFRS 16 "Leases"]. Auditorskie vedomosti = Audit Journal, 2016, no. 6, pp. 40–56. URL: Link (In Russ.)
Shkarupelaya M.V. Comparison of IAS 17 "Lease" with Russian Legislation. ChronoEconomics, 2018, no. 2, pp. 193–198. URL: Link
Dobriyan T.A. [Actual issues of accounting for investment property in convergence of national accounting to IFRS ]. Bukhgalterskii uchet i analiz = Accounting and Analysis, 2013, no. 2, pp. 30–34. (In Russ.)
Maisuradze M., Vardiashvili M. The Issues of Recognition and Measurement of the Investment Property According to IAS 40. Journal of International Scientific Publications: Economy & Business, 2017, vol. 11, no. 1, pp. 416–423. URL: Link
Druzhilovskaya T.Yu., Druzhilovskaya E.S. [Problems of harmonizing investment property accounting according to Russian and international standards]. Uchet. Analiz. Audit = Accounting. Analysis. Auditing, 2018, vol. 5, no. 3, pp. 62–71. URL: Link (In Russ.)
Sundgren S., Mäki J., Somoza-López A. Analyst Coverage, Market Liquidity and Disclosure Quality: A Study of Fair-Value Disclosures by European Real Estate Companies Under IAS 40 and IFRS 13. The International Journal of Accounting, 2018, vol. 53, iss. 1, pp. 54–75. URL: Link
Alborov R.A., Kontsevaya S.M., Kozmenkova S.V. [Biological and land assets in agriculture: Accounting and evaluation issues]. Mezhdunarodnyi bukhgalterskii uchet = International Accounting, 2019, vol. 22, iss. 8, pp. 859–871. (In Russ.) URL: Link
Alborov R.A., Kontsevaya S.M., Kozmenkova S.V. Biological and Land Assets in Agriculture: Development Issues of Accounting and Measurement. Digest Finance, 2019, vol. 24, iss. 3, pp. 320–328. URL: Link
Kruzhkova I.I. [Biological assets as an object of Russian accounting and accounting according to international standards]. Vestnik Orlovskogo gosudarstvennogo agrarnogo universiteta = Bulletin of Orel State Agrarian University, 2010, no. 6, pp. 29–32. URL: Link (In Russ.)
Sytnik O.E. Accounting Aspects of Practical Application of IFRS (IAS) 41 “Agriculture” in Agricultural Organizations. SWorldJournal, 2016, vol. J1117, no. 11, pp. 63–66. URL: Link
Vakhrushina M.A. [IFRS 16 Leases: Standard's novation and the impact of the COVID-19 pandemic on the accounting and reporting information disclosure]. Mezhdunarodnyi bukhgalterskii uchet = International Accounting, 2020, vol. 23, iss. 9, pp. 962–980. (In Russ.) URL: Link
Get'man V.G. [Rules of fixed assets accounting should be changed]. Uchet. Analiz. Audit = Accounting. Analysis. Auditing, 2020, vol. 7, no. 1, pp. 42–48. URL: Link (In Russ.)
Plotnikov V.S., Plotnikova O.V. [FSBU 25/2018 “Accounting for Leases” and IFRS 16 “Leases”: A comparative analysis of key provisions]. Uchet. Analiz. Audit = Accounting. Analysis. Auditing, 2019, vol. 6, no. 6, pp. 42–51. URL: Link (In Russ.)
Gorodilov M.A. [Federal Accounting Standard 5/2019 – Inventories: An analysis of conceptual changes]. Mezhdunarodnyi bukhgalterskii uchet = International Accounting, 2020, vol. 23, iss. 8, pp. 844–863. (In Russ.) URL: Link
Matveeva V.A., Zakharova A.A. [The main innovations in the accounting of fixed assets in accordance with the Federal Accounting Standards “Fixed Assets”]. CITISE, 2020, no. 2, pp. 348–355. (In Russ.) URL: Link
Lisovskaya I.A., Trapeznikova N.G. [Federal accounting standard FSBU 25/2018 Accounting for Leases: Practical application issues]. Mezhdunarodnyi bukhgalterskii uchet = International Accounting, 2019, vol. 22, iss. 11, pp. 1208–1222. (In Russ.) URL: Link
Druzhilovskaya T.Yu. [Problems of applying valuation reserves in the systems of Russian and international standards]. Mezhdunarodnyi bukhgalterskii uchet = International Accounting, 2017, vol. 20, iss. 20, pp. 1164–1182. (In Russ.) URL: Link
Rozhnova O.V. [The development of the concept of fair value]. Uchet. Analiz. Audit = Accounting. Analysis. Auditing, 2016, no. 6, pp. 20–27. URL: Link (In Russ.)
Druzhilovskaya T.Yu. [The use of fair value to measure accounting items: Practical issues]. Mezhdunarodnyi bukhgalterskii uchet = International Accounting, 2018, vol. 21, iss. 9, pp. 1086–1099. (In Russ.) URL: Link
Prishchepa L.V. [Fair value in the system of market valuation of accounting objects]. Uspekhi sovremennoi nauki = Modern Science Success, 2017, vol. 7, no. 4, pp. 78–81. (In Russ.)
Ganieva R.R. [Accounting for asset impairment in accordance with IAS 36]. Obrazovanie i nauka bez granits: sotsial'no-gumanitarnye nauki, 2020, no. 13, pp. 76–81. (In Russ.)
Mazzi F., Liberatore G., Tsalavoutas I. Insights on CFOs' Perceptions about Impairment Testing Under IAS 36. Accounting in Europe, 2016, vol. 13, iss. 3, pp. 353–379. URL: Link