Home  Journals  International Accounting  5(527) - 2025 May

Application of FAS and IFRS in the formation of management reporting accounting policy: Methodological justification

Received: 28 April 2025

Accepted: 5 May 2025

Available online: 15 May 2025

Subject Heading: MANAGERIAL ACCOUNTING AND REPORTING

JEL Classification: G30

Pages: 32-48

https://doi.org/10.24891/lfbauk

Subject. This article examines the process of formation of management (financial) reporting on the basis of a unified information accounting system.
Objectives. The article aims to develop a methodological approach to the formation of accounting policy for management reporting based on the principles of current standards in the field of accounting and financial reporting.
Methods. For the study, we used methods of analysis and adaptation.
Results. Based on the analysis of the current Russian and international standards for key accounting items, the article finds that the current standards contain all the necessary elements for the recognition, assessment and presentation of information in management reporting. The article also presents an author-developed practical checklist for the formation of an accounting policy, which helps take into account the specifics of the business, user goals, and automate processes.
Conclusions and Relevance. Management reporting can be built on the basis of the present-day standards with no new principles creating. Adaptation of the provisions of the Federal Accounting Standards and IFRS ensures the detail, transparency and analytical suitability of reporting for various stakeholders. The results of the study can be used by organizations to develop accounting policies, form a unified accounting system, as well as automate data mapping in information systems.

Keywords: management reporting, accounting policy, correcting entries, International Financial Reporting Standards, Federal Accounting Standards

References:

1. Bouquin H. et al. Le contrôle de gestion: contrôle d'entreprise et gouvernance. Paris Dauphine Université, 2008.
2. Tort E. Organisation et management des systèmes comptables: optimiser les leviers de la performance comptable. Dunod, 2003, 288 p.
3. Carmona S. The History of Management Accounting in France, Italy, Portugal, and Spain. In: C.S. Chapman, A.G. Hopwood and M.D. Shields (Eds) Handbook of Management Accounting Research. Elsevier, 2007, vol. 2, pp. 905–922. DOI: 10.1016/S1751-3243(06)02018-9
4. Biryukova O.A. [Conceptual approaches to organization of management accounting in Russia]. Vestnik Rossiiskogo universiteta kooperatsii, 2017, no. 4, pp. 14–17. (In Russ.) EDN: YNHLRO
5. Vakhrushina M.A., Shcheglovskaya Yu.A. Informatsionnoe soprovozhdenie biznesa na baze konvergentsii printsipov upravlencheskogo ucheta i MSFO: problemy i puti resheniya: monografiya [Information support of business on the basis of convergence of management accounting principles and IFRS: problems and solutions: a monograph]. Moscow, Rusains Publ., 2023, 244 p. EDN: PUAGPU
6. Gadzhiev N.G., Gadzhiev T.N., Shanavazov I.A. [Formation of management reporting using the principles of IFRS]. Mezhdunarodnyi bukhgalterskii uchet = International Accounting, 2010, vol. 13, iss. 10, pp. 19–23. (In Russ.) URL: Link
7. Slobodnyak I.A. [The use of IFRS principles as a methodology for the formation of accounting and analytical information of internal accounting management reporting]. Mezhdunarodnyi bukhgalterskii uchet = International Accounting, 2011, vol. 14, iss. 3, pp. 16–27. (In Russ.) URL: Link
8. Shcheglovskaya Yu.A. [IFRS statements and managerial accounting principles: Harmonization potential]. Analiz. Audit, 2018, vol. 5, no. 1, pp. 98–109. (In Russ.) EDN: YOQUCQ
9. Kotel'nikova N.V. [Uniform accounting system and adjusting entries: approach to reporting]. Ekonomika i upravlenie: problemy, resheniya, 2025, vol. 9, no. 1,
   135–144. (In Russ.) DOI: 10.36871/ek.up.p.r.2025.01.09.016
10. Kotel'nikova N.V. [Identifying information requests from stakeholders to determine the types of business reporting required]. Finansovyi menedzhment, 2024, no. 6, pp. 54–63. (In Russ.) DOI: 10.25806/fm-6-2024-54-63
11. Kotel'nikova N.V. [Management accounting as a tool of information support for internal and external stakeholders]. Finansovyi menedzhment, 2024, no. 8, pp. 59–70. (In Russ.) DOI: 10.25806/fm-8-2024-59-70
12. Kotel'nikova N.V. [Accounting policy as a basis for the formation of relevant information in the management accounting system]. Finansovyi menedzhment, 2024, no. 7, pp. 59–70. (In Russ.) DOI: 10.25806/fm-7-2024-59-70

View all articles of issue

ISSN 2311-9381 (Online)
ISSN 2073-5081 (Print)

Journal current issue

Vol. 28, Iss. 6 June 2025

Archive