Subject. This article examines the potential and mechanisms of using the Islamic financial instrument Istisna'a in the activities of enterprises of the agro-industrial complex of the Russian Federation. Objectives. The article aims to develop a methodology for accounting for and reflecting in financial statements transactions under Istisna'a contracts in the context of financing agricultural infrastructure projects, as well as conduct a comparative analysis of the approaches provided by IFRS and AAOIFI. Methods. For the study, we used the methods of theoretical, comparative, and statistical analyses, as well as case analysis. Results. Based on a comprehensive analysis of the regulatory framework, the article proposes the author-developed methodological approaches for accounting for ordinary and parallel Istisna'a hedging operations and standard correspondences of accounting accounts. The article also identifies and systematizes the key differences in revenue recognition methodology according to AAOIFI and IFRS. Conclusions and Relevance. Istisna'a is an effective and competitive tool for financing infrastructure projects in the agro-industrial complex, providing better risk distribution between parties and full compliance with the principles of Islamic finance (with proper structuring). It is recommended to develop State support for Islamic finance in Russia and integrate the Istisna'a instrument into national-level agricultural infrastructure financing programmes. The research results can be used by Russian partner financing organizations when preparing information on Istisna'a contracts in the financial accounting and reporting system in accordance with the requirements of IFRS and AAOIFI Islamic accounting standards.
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