Subject. This article discusses the problems associated with the methodology of accounting for derivative financial instruments of non-financial organizations. Objectives. The article aims to develop recommendations for solving these problems. Methods. For the study, we used a critical analysis, synthesis, comparison, observation, and the analog approach. Results. The article shows the insufficiency of regulation of accounting for derivative financial instruments of Russian non-financial organizations, and it reveals significant differences in the interpretation of the economic essence of derivative financial instruments and the recommended methodological approaches to their valuation and accounting in the scientific literature. The article offers author-developed recommendations for solving problematic issues of accounting for derivative financial instruments of Russian non-financial organizations. Conclusions and Relevance. The current Russian accounting standards for non-financial organizations do not contain regulations on the accounting for derivative financial instruments. It is necessary to develop appropriate regulatory documents. The interpretation of the economic essence of derivative financial instruments, methodological approaches to their evaluation and accounting, proposed in the scientific literature, differ significantly. The results obtained have both applied and theoretical applications in the field of financial accounting.
Druzhilovskaya T.Yu. [Transformation of financial investments in accordance with IFRS]. Bukhgalterskii uchet, 2006, no. 12, pp. 50–55. (In Russ.)
Shichalina V.A., Zhitlukhina O.G. [On clarifying the definition of derivative financial instruments in the aspect of accounting]. Ekonomicheskie issledovaniya i razrabotki, 2020, no. 1, pp. 11–15. (In Russ.) URL: Link
Tarasova Yu.A. [Improving the methodology for reflecting operations with derivative financial instruments in the accounting of organizations that are not financial institutions]. Izvestiâ Sankt-Peterburgskogo gosudarstvennogo èkonomičeskogo universiteta, 2017, no. 2, pp. 147–152. URL: Link (In Russ.)
Zhitlukhina O.G. [Derivative financial instruments in the aspect of accounting and financial accounting]. Vestnik Tikhookeanskogo gosudarstvennogo ekonomicheskogo universiteta, 2011, no. 2, pp. 62–71. URL: Link (In Russ.)
Sapozhnikova N.G. [The issues of generating information on derivative financial instruments in corporate accounting and reporting]. Mezhdunarodnyi bukhgalterskii uchet = International Accounting, 2013, vol. 16, iss. 7, pp. 2–9. URL: Link (In Russ.)
Ul'yanov V.S. [Methodical basis of derivative financial instruments accounting]. Ekonomika i upravlenie = Economics and Management, 2011, no. 4, pp. 111–114. URL: Link (In Russ.)
Druzhilovskaya T.Yu., Dobrolyubov N.A. [Financial instruments in the accounting and reporting of commercial and non-profit organizations]. Bukhgalterskii uchet v byudzhetnykh i nekommercheskikh organizatsiyakh = Accounting in Budgetary and Non-Profit Organizations, 2017, no. 7, pp. 2–15. URL: Link (In Russ.)
Kuz'min A.Yu. [Foreign contracts accounting with signs of production activity hedging under IFRS]. Mezhdunarodnyi bukhgalterskii uchet = International Accounting, 2014, vol. 17, iss. 18, pp. 2–9. URL: Link (In Russ.)
Mar'yasin A.M. [Certain aspects of convertible bonds and derivatives accounting in accordance with IFRS]. Finansovyi zhurnal = Financial Journal, 2017, no. 5, pp. 121–128. URL: Link (In Russ.)
Pashkovskaya L.V., Pisarenko G.V. [The problem of valuation of derivatives in accounting hedge currency risk]. Bukhgalterskii uchet i analiz, 2018, no. 4, pp. 13–17. (In Russ.) URL: Link
Druzhilovskaya E.S. [Accounting of financial instruments]. Bukhgalterskii uchet, 2016, no. 10, pp. 20–26. (In Russ.)
Khumawala S.B., Ranasinghe T., Yan C.J. Real Effects of Governmental Accounting Standards: Evidence from GASB Statement No. 53 – Accounting and Financial Reporting for Derivative Instruments. Journal of Accounting and Public Policy, 2020, vol. 39, iss. 5, 106719. URL: Link
Malaquias R.F., Zambra P. Complexity in Accounting for Derivatives: Professional Experience, Education and Gender Differences. Accounting Research Journal, 2020, vol. 33, iss. 1, pp. 108–127. URL: Link
Park H.-Y., Lee H.-Y. Use of Derivatives as Hedging Instruments and Market Pricing of Earnings. Korean Accounting Review, 2020, vol. 45, iss. 5, pp. 161–201.
Druzhilovskaya T.Yu., Druzhilovskaya E.S., Korshunova T.N., Denisova I.P., Denisov P.V. Accounting Policies for Financial Instruments of Organizations in the Modern Conditions of the Innovative Economy. Lecture Notes in Networks and Systems, 2020, vol. 129 LNNS, pp. 1588–1595. URL: Link
Abdel-Khalik A.R. Failing Faithful Representations of Financial Statements: Issues in Reporting Financial Instruments. Abacus, 2019, vol. 55, iss. 4, pp. 676–708. URL: Link
Liyuan W. Research on Accounting Issues of Derivative Financial Instruments under Network Conditions. IOP Conference Series: Materials Science and Engineering, 2019, vol. 631, iss. 5, 052018. URL: Link
Hartmann B., Marton J., Söderström R. The Improbability of Fraud in Accounting for Derivatives: A Case Study on the Boundaries of Financial Reporting Compliance. European Accounting Review, 2018, vol. 27, iss. 5, pp. 845–873. URL: Link
De Melo Mendes P.C., Niyama J.K., Silva C.A.T. The Perception of Auditors in the Measurement of Instruments Financial Institutions at Fair Value in Financial Institutions. Brazilian Business Review, 2018, vol. 15, iss. 4, pp. 363–381. URL: Link
Druzhilovskaya T.Yu. [Conceptual Framework for Financial Reporting: A critical analysis of new approaches]. Mezhdunarodnyi bukhgalterskii uchet = International Accounting, 2017, vol. 20, iss. 10, pp. 596–610. (In Russ.) URL: Link
