Home  Journals  International Accounting  3(537) - 2026 March

Preparation of financial statements in terms of applying the RAS FSBU 4/2023 and IFRS (IAS) 1 Standards: Some methodological particularities

Received: 3 February 2026

Accepted: 6 March 2026

Available online: 30 March 2026

Subject Heading: FINANCIAL ACCOUNTING

JEL Classification: A11, M40

Pages: 20-36

https://doi.org/10.24891/qlojem

Subject. This article examines the processes of generating information about non-financial assets in the accounting (financial) reporting of public sector organizations and ways to improve them.
Objectives. The article aims to conduct a detailed multifaceted comparison of the Russian (Federal) Accounting Standard (FSBU) 4/2023 – Accounting (Financial) Statements and IFRS (IAS) 1 – Presentation of Financial Statements in order to identify the degree of their convergence and the preservation of fundamental differences, as well as identify and systematize not only formal but also deep conceptual differences in approaches to the structure, content, and principles of presenting information about a company's financial position.
Methods. For the study, we used comparison, systematization, and generalization of data.
Results. Based on the analysis of the regulatory framework governing the peculiarities of the preparation, presentation, and disclosure of financial statements, the article substantiates a fragment of the improved accounting policy, describing new provisions regarding the disclosure of information in accounting (financial) reporting.
Conclusions and Relevance. The results of the study on the problem of information formation in accounting (financial) reporting in accordance with the RAS (FSBU) 4/2023 and IFRS (IAS) 1 Standards helped develop practical recommendations to financial directors, accountants, auditors, and analysts, contributing to their effective work under the conditions of the parallel existence of the two reporting systems. The results obtained can be applied both in theory and practice of preparing and presenting accounting (financial) statements.

Keywords: balance sheet, financial statements, convergence, liquidity, asset classification

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