Subject. This article discusses the issues related to the further development of the Conceptual Framework for Accounting in the Market Economy of Russia. Objectives. The article aims to identify the prospects for addressing areas of concern of the further development of the Conceptual Framework for Accounting in the Market Economy of Russia. Methods. For the study, I used critical analysis, synthesis, comparison, observation, and systematization. Results. The article evaluates the current state of the Conceptual Framework for Accounting and Reporting within the Russian Accounting Standards system, compares the regulations of the Accounting Concept in Russia's Market Economy with the Conceptual Framework for Financial Reporting under IFRS, and it also organizes the similarities and differences between Russia's Accounting Concept in the Market Economy and the Conceptual Framework for Financial Reporting under IFRS. The article offers recommendations for the further development of the Accounting Concept in Russia's Market Economy. Conclusions and Relevance. The Concept of Accounting in Russia's Market Economy hasn’t been updated since it was adopted in 1997. This is the reason for some regulations of the Russian Concept of Accounting in Russia's Market Economy are becoming outdated. Its differences from the updated version of the Conceptual Framework for Financial Reporting in IFRS were also significant. This points to the advisability of further developing the Concept of Accounting in Russia's Market Economy. The results obtained have both practical and theoretical areas of application in the field of financial accounting.
Keywords: accounting, accounting (financial) statements, conceptual framework for accounting and reporting
References:
Rozhnova O.V. [Principles for the development of corporate reporting in the third decade of the 21st century]. Auditorskie vedomosti, 2022, no. 4, pp. 37–41. (In Russ.) DOI: 10.17686/17278058_2022_4_37 EDN: OCTTJR
Krasnov V.D., Kozmenkova S.V. [Going concern principle: The essence and economic conditionality]. Mezhdunarodnyi bukhgalterskii uchet, 2017, vol. 20, iss. 19, pp. 1147–1162. (In Russ.) DOI: 10.24891/ia.20.19.1147 EDN: ZIWFIV
Plotnikov V.S., Plotnikova O.V. [Conceptual framework for reporting: The impact of changes on the theory and methodology of accounting and reporting]. Mezhdunarodnyi bukhgalterskii uchet, 2023, vol. 26, iss. 8, pp. 830–854. (In Russ.) DOI: 10.24891/ia.26.8.830 EDN: DUDTJC
Druzhilovskaya T.Yu., Korshunova T.N., Khodyrev A.A. [Accounting policy principles and the reliability of reported information as its goal]. Mezhdunarodnyi bukhgalterskii uchet, 2013, no. 24, pp. 2–16. (In Russ.) EDN: QBXLMV
Tomkevichus S.N. [Medium-term prospects for the development of accounting and reporting: A conceptual approach]. Ekonomika, pravo i problemy upravleniya, 2012, no. 2, pp. 203–209. (In Russ.) EDN: IJZIWT
Vakhrushina A.A. [Management accounting: the conceptual approach to report an information about the intellectual capital in the budgetary organizations]. Audit, 2019, no. 2, pp. 28–33. (In Russ.) EDN: POWMSS
Kozmenkova S.V., Krupinova E.S. [Accounting principles for microenterprises: Composition and content]. Mezhdunarodnyi bukhgalterskii uchet, 2017, vol. 20, iss. 8, pp. 460–476. (In Russ.) DOI: 10.24891/ia.20.8.460 EDN: YLNOTD
Plotnikov V.S., Plotnikova O.V. [Conceptual framework for integrated reporting: Analyzing the content of general provisions]. Ekonomicheskii analiz: teoriya i praktika, 2023, vol. 22, iss. 12, pp. 2293–2309. (In Russ.) DOI: 10.24891/ea.22.12.2293 EDN: HSBMSB
Rozhnova O.V. ["Clean" concept of consolidated financial statements]. Vestnik IPB (Vestnik professional'nykh bukhgalterov), 2017, no. 6, pp. 24–30. (In Russ.) EDN: YNOFTL
Gusarova L.V., Shabanova L.B., Petrova E.A. et al. [Conceptual bases of integrated reporting in accounting system]. Upravlenie ekonomicheskimi sistemami: elektronnyi nauchnyi zhurnal, 2019, no. 12, p. 21. (In Russ.) EDN: NPPRMA
Romanova I.V., Zakharova R.L. [Conceptual issues of accounting and formation of reporting in the conditions of globalization of economy]. Aktual'nye problemy ekonomiki i upravleniya, 2020, no. 2, pp. 64–69. (In Russ.) EDN: RXTACC
Odintsova T.M. [Evolution of accounting and reporting conceptual field in the ESG agenda as a sustainable development driver]. Aktual'nye voprosy ucheta i upravleniya v usloviyakh informatsionnoi ekonomiki, 2022, no. 4, pp. 81–89. (In Russ.) EDN: HRYCNR
Mislavskaya N.A., Polenova S.N. [Conceptual solutions in accounting and financial reporting of inventories]. Ekonomika i sotsium, 2012, no. 5, pp. 575–582. (In Russ.) EDN: WBGSRF
Eprikova T.Yu. [Conceptual framework and regulations for the preparation of interim financial statements]. Ekonomika i predprinimatel'stvo, 2020, no. 12, pp. 1250–1252. (In Russ.) DOI: 10.34925/EIP.2021.125.12.251 EDN: CIUURR
Chaya V.T., Rozhkova E.V. [Conceptual differences between International Financial Reporting Standards and the Russian Accounting System]. Mezhdunarodnyi bukhgalterskii uchet, 2009, no. 9, pp. 15–23. (In Russ.) EDN: KVADEB
Mizikovskii E.A., Druzhilovskaya T.Yu. [Comparison of financial reporting principles in the Russian and International Standards]. Auditorskie vedomosti, 1999, no. 8, pp. 24–33. (In Russ.) EDN: TZAOVP
Solov'eva O.V. [Framework for the preparation and presentation of financial statements as the basis for IFRS system]. Audit i finansovyi analiz, 2008, no. 2, pp. 28–39. (In Russ.) EDN: ISEVHB
Trofimova L.B. [Analyzing conceptual foundations of international and Russian standards of finance accounting in public sector]. Vestnik Rossiiskogo ekonomicheskogo universiteta imeni G.V. Plekhanova, 2023, vol. 20, no. 2, pp. 67–72. (In Russ.) DOI: 10.21686/2413-2829-2023-2-67-72 EDN: QTYTLB
Solov'eva O.V. [Conceptual framework for financial reporting under IFRS: Recent changes]. Mezhdunarodnyi bukhgalterskii uchet, 2011, no. 40, pp. 2–11. (In Russ.) EDN: OHYGUD
Druzhilovskaya T.Yu., Korshunova T.N. [Conceptual foundations for forming accounting policy in Russian and international standard systems]. Mezhdunarodnyi bukhgalterskii uchet, 2012, no. 46, pp. 2–10. (In Russ.) EDN: PJBBWB
Trofimova L.B. [Integration schemes of the conceptual foundations of financial reporting in IFRS and Russian accounting]. Mezhdunarodnyi bukhgalterskii uchet, 2012, no. 23, pp. 13–26. (In Russ.) EDN: OYNMFV
Egorova E.M. [Conceptual foundations of budgetary accounting through the lens of International Public Sector Financial Reporting Standards]. Vestnik Severo-Kavkazskogo gosudarstvennogo tekhnicheskogo universiteta, 2010, no. 2, pp. 121–124. (In Russ.) EDN: MQIUML
Lukyanenko G.I., Antonova O.V., Glebkova I.Y. et al. Technology application of the concept of market-oriented reporting in accounting and statistics. International Journal of Innovative Technology and Exploring Engineering, 2019, vol. 8, no. 10, pp. 1648–1652. DOI: 10.35940/ijitee.J8864.0881019 EDN: ZUREIZ
Elmahdi A. Guided Paper: Water Accounting Reporting System -WARS Framework from Concept to Implementation for Sustainable Water Management. International Journal of Environmental Sciences & Natural Resources, 2020, vol. 23, no. 4. DOI: 10.19080/ijesnr.2020.23.556118 EDN: HDETDW
Plotnikov V.S., Kanapinova S.S. The concept of accounting for contractual obligations in the field of accounting for financial instruments. Siberian Financial School, 2022, no. 1, pp. 146–151. DOI: 10.34020/1993-4386-2022-1-146-151 EDN: YCETFM
Antonova O.V., Kremer N.Sh., Lukyanenko G.I. et al. Fundamental concepts of financial accounting and dialectic of their development: macroeconomic concept, microeconomic concept. Bulletin of the National Academy of Sciences of the Republic of Kazakhstan, 2020, no. 5, pp. 153–160. DOI: 10.32014/2020.2518-1467.154 EDN: ZEZSAK
Ram M.N., Dhan N.A., Nurdiono N.A. et al. Implementation of accrual accounting concept in Indonesian government: is it the true concept. International Journal of Trade and Global Markets, 2021, vol. 14, no. 2, p. 166. DOI: 10.1504/ijtgm.2021.114067 EDN: DJQYTG
Wang Y. Rethinking accounting objectives- based on Conceptual Framework for Financial Reporting 2018. Highlights in Business, Economics and Management, 2024, vol. 29, pp. 42–45. DOI: 10.54097/jfhp4980 EDN: RRRQMR
