Developing the methodology of preparing accounting (financial) statements considering the prospects of adopting new Russian Accounting Standards (FSBU)

Subject. This article discusses the development of methodological approaches to creating accounting (financial) reports in connection with the planned adoption of new Russian (Federal) Accounting Standards (FSBU). Objectives. The article aims to identify the prospects for developing the methodology of preparing accounting (financial) statements in connection with the planned adoption of new FSBU. Methods. For the study, I used critical analysis, synthesis, comparison, observation, and systematization. Results. The article describes possible changes in the methodology of preparing accounting (financial) statements if new Russian (Federal) Accounting Standards get adopted, based on the published drafts of these federal standards. The article points out possible changes to the forms of the balance sheet and the Statement of Financial Results recommended by RAS (FSBU) 4/2023 – Accounting (Financial) Statements if the listed federal standards get adopted. The article also compares possible updated forms of the balance sheet and the Statement of Financial Position with the forms of the Statement of Financial Position and the Profit and Loss Statement and other comprehensive income, as regulated by International Financial Reporting Standards. Conclusions and Relevance. The adoption of the new Russian (Federal) Accounting Standards will lead to significant changes not only in the accounting of items regulated by these standards, but also will require major changes to the forms of accounting (financial) statements regulated by the Russian FSBU. However, it will be necessary to address the question of whether it makes sense to align the methodological approaches to preparing accounting (financial) statements under the Russian Accounting Standards with the regulations of IFRS 18 – Presentation and Disclosure in Financial Statements. The results obtained have both practical and theoretical areas of application in the field of financial accounting.