Methodological Aspects of ISFA Provisions and their Impact on Managerial Accounting of Developers

On the basis of all the changes that took place in housing construction of the Russian Federation during the previous years, we can point out volatility of some industry indicators while general dynamics of its grows remains. The development of housing construction industry in Russia is essential for economy within the frames of the federal project ‘Building Comfortable Urban Environment’. To provide timely and full analysis of their economic activities developers during the last decade more and more often use managerial accounting made up on the basis of the requirement of the International Standards of Finance Accounting (ISFA). The mentioned managerial accounting gives developer an opportunity to get necessary information within a short period of time in general for the group of companies, which is essential to diagnose key activity by developer top-management, especially in times of changes in related processes. ISFA provisions are renewed every year and upgraded. These changes require analysis of methodological aspects and estimation of their impact or its absence on methodology of shaping managerial accounting of developers, which explains topicality of the research. The research includes 2 stages. The 1st section confirms the hypothesis of the impact of methodological aspects of ISFA provisions on methodology of preparing managerial accounting of organizations-developers. To verify the hypothesis comparison of different information in a number of lines is carried out: the degree of the topic study in academic literature, experts’ practical observation of specificities of adaptation and integration of ISFA provisions in the Russian Federation after their arising till the present moment. As the result the hypothesis was confirmed about the impact of ISFA provisions on methodology of shaping managerial accounting. The 2nd section of the research gives a list of methodological aspects of ISFA provisions, classified by survey respondents by different signs, including both new ones that are being introduced right now in methodology of shaping managerial accounting of developers and establishes ones. At the same time a list of factors influencing the process of ISFA provisions impacting on methodology of shaping managerial accounting was put forward as well as duration of their impact, cyclic nature of the process of introduction, adaptation and approval of methodological aspects of ISFA provisions as established ones. The key findings of the research can help identify impact of ISFA provisions on managerial accounting of developers and identify a list of methodological aspects of ISFA provisions with classification by different lines, including necessary for its timely renewal and upgrading.