Preparation of the financial results statement: Past, present, future

Subject. This article discusses the issues related to the formation of the Statement of Financial Results of organizations. Objectives. The article aims to identify the prospects for solving the problems of the formation of the Statement of Financial Results of organizations. Methods. For the study, I used critical analysis, synthesis, comparison, observation, and systematization. Results. Based on the study of changes in the development of regulations for the formation of the Statement of Financial Results (profits and losses) of organizations, the article identifies the characteristics of approaches to the formation of the Statement of Financial Results (profits and losses) in Russian accounting during the period of socialism, the beginning of market reforms, the modern stage, and the near future. The article presents the results of comparing the rules for preparing the Statement of Financial Results (profits and losses) as outlined in various regulatory documents, and justifies the prospects for the development of regulations on the formation of this Statement in the process of further reforming accounting. Conclusions and Relevance. Regulations on the formation of a modern Statement of Financial Results emerge with the onset of accounting standardization. The existing forms of the Russian Statement of Financial Results during the Soviet period and at the beginning of market reforms differed significantly from the modern form of this Statement. The further development of regulations for the formation of the Russian Statement of Financial Results may be aimed at aligning with the new International Standard IFRS 18 – Presentation and Disclosure in Financial Statements, which will come into effect starting with the reporting for 2027. The results obtained have both practical and theoretical areas of application in the field of financial accounting.