APPROACH TO THE DEVELOPMENT OF CORRECTIVE ENTRY REGULATIONS FOR RELIABLE FINANCIAL REPORTING

The article is devoted to the study of approaches to the formation of corrective records related to events after the reporting period and the development of recommendations for the creation of regulations that ensure compliance of financial statements with the standards of IAS 10 and FAS/FAS 7/98. The advantages of unified regulations that ensure transparency, comparability of data and risk mitigation in the formation of adjusting entries are considered. The main attention is paid to the key aspects of regulations development, including algorithms of events assessment, methods of adjustments accounting and procedure of their disclosure in financial statements. The classification of adjusting events is presented, reflecting their impact on the company's assets, liabilities and income, which allows standardizing approaches to their accounting. In addition, the parameters for calculating the amounts of adjustments for different types of events, such as asset impairment, provisioning and accounting for warranty obligations, as well as the stages of adjustments formation, including the distribution of responsibility between the company's divisions, are studied. The purpose of the study is to propose a structured approach to the systematization of accounting for adjustments, including their classification, estimation algorithms and disclosure methods. The presented results are aimed at improving the quality of financial reporting, minimizing the risks of errors and ensuring its transparency. Recommendations and approaches outlined in the article can be implemented in the practice of organizations of various sizes, which is especially relevant in the context of growing requirements for reliability and comparability of reporting.