Trends and Prospects in Financial Accounting of Income and Expenses of Future Periods

The article examines the trends and prospects of financial accounting and reflection in reporting of future income and future expenses. The evolution of changes in regulations on accounting of these objects over the past three decades is presented. It is substantiated that the trend of these decades is a gradual reduction in the number of regulatory documents containing requirements for financial accounting and reflection in accounting (financial) reporting of future income and future expenses. The problems of modern regulations on accounting and reflection in reporting of these objects are identified. Possible prospects of financial accounting and reflection in reporting of future income and future expenses are argued.