Subject. This article explores the nature of financial assets, which are complex accounting objects in public sector organizations, as well as their classification for presentation in accounting (financial) reporting. Objectives. The article aims to summarize and systematize information on financial assets in the System of National Accounts, examine the procedure for their accounting in State (municipal) budgetary and autonomous institutions in accordance with the Russian Accounting Standard for Government Finance (FSBU GF) – Financial Instruments, and identify problems in the formation and presentation of information on financial assets in reporting. Methods. For the study, we used the methods of observation, comparison, generalization, and interpretation. Results. The article finds that the System of National Accounts serves as a methodological basis for presenting information on financial assets when determining national wealth. The article offers an original definition of financial assets for accounting in the public sector. It reveals that the requirements of the Russian Accounting Standards for Groups of Assets regarding disclosure in reporting are unfeasible, and the theoretical classification of financial assets according to these standards does not correspond to the practice of preparing the balance sheet. Conclusions. The category Financial Asset is complex at the micro level due to the combination of heterogeneous accounting items. The concept of Financial Asset in FSBU GF is effectively replaced by a list of assets. The classification according to FSBU GF (based on the purposes of acquiring assets) does not coincide with the classification for the balance sheet of a State-financed institution. The presentation of data by FSBU GF groups is only possible in the notes to the financial statements.
Keywords: financial assets, economic essence, classification, government sector
References:
Gaponenko V.F., Burtseva E.V. [Features of accounting for financial assets in budgetary institutions]. Problemy ekonomiki i yuridicheskoi praktiki, 2024, vol. 20, no. 6, pp. 152–158. (In Russ.) DOI: 10.33693/2541-8025-2024-20-6-152-158 EDN: KWDEHE
Eremenko I.A., Sopel’nik E.Yu., Roman A.S. [Features of accounting for financial assets in budgetary institutions]. Aktual’nye nauchnye issledovaniya v sovremennom mire, 2021, no. 11-3, pp. 136–139. (In Russ.) EDN: QCPPJI
Maslova T.S. [New developments in the methodology of accounting for financial assets of budgetary institutions]. Bukhgalterskii uchet v byudzhetnykh i nekommercheskikh organizatsiyakh, 2011, no. 18, pp. 2–13. (In Russ.) EDN: OAJZSX
Gerasimova L.N. [The specifics of accounting for financial investments in a budget institution]. Bukhuchet v zdravookhranenii, 2020, no. 4, pp. 29–36. (In Russ.) DOI: 10.33920/med-17-2004-04 EDN: VMGSJH
Ishenbaeva Sh.K., Abdullaeva Zh.D. [Improving accounting for financial assets of budgetary institutions using IFRS]. Byulleten’ nauki i praktiki, 2024, vol. 10, no. 1, pp. 299–302. (In Russ.) DOI: 10.33619/2414-2948/98/36 EDN: VDCVLR
Beksultanov A.A., Elchibaeva A.Z. [Accounting for financial and non-financial assets of budgetary institutions]. Evraziiskoe Nauchnoe Ob"edinenie, 2019, no. 2-3, pp. 194–196. (In Russ.) EDN: PSHRTJ
Druzhilovskaya T.Yu., Dobrolyubov N.A. [Financial instruments in accounting and reporting of commercial and non-profit organizations]. Bukhgalterskii uchet v byudzhetnykh i nekommercheskikh organizatsiyakh, 2017, no. 7, pp. 2–16. (In Russ.) EDN: YJJZRF
Druzhilovskaya T.Yu., Dobrolyubov N.A. [Current issues of accounting for financial instruments of organizations]. Bukhgalterskii uchet v byudzhetnykh i nekommercheskikh organizatsiyakh, 2017, no. 13, pp. 2–12. (In Russ.) EDN: YUPNIJ
Druzhilovskaya T.Yu., Dobrolyubov N.A. [Methodological approaches to accounting for financial instruments: Current issues and advisable solutions]. Mezhdunarodnyi bukhgalterskii uchet, 2020, vol. 23, iss. 6, pp. 604–626. (In Russ.) DOI: 10.24891/ia.23.6.604 EDN: HDOALK
Druzhilovskaya T.Yu. [Problems of accounting for derivative financial instruments of budgetary organizations]. Bukhgalterskii uchet i nalogooblozhenie v byudzhetnykh organizatsiyakh, 2022, no. 6, pp. 23–29. EDN: NRBBIW
Kulikova L.I. [Impairment of financial investments: presentation of information in accounting (financial) statements]. Audit, 2023, no. 1, pp. 40–45. (In Russ.) EDN: LMWUJJ
Druzhilovskaya E.S. [Financial instruments measurement in Russian and International accounting]. Mezhdunarodnyi bukhgalterskii uchet, 2014, no. 47, pp. 26–41. (In Russ.) EDN: TIZOCL
Kostyukova E.I., Bobryshev A.N., Frolov A.V. et al. [Statement of management accounting by developing a budgeting system on the basis of forming the financial structure of a budgetary institution]. Vestnik Kazanskogo gosudarstvennogo agrarnogo universiteta, 2023, vol. 18, no. 1, pp. 119–124. (In Russ.) DOI: 10.12737/2073-0462-2023-115-120 EDN: UNDDAM
