Institutional Methodology of the Formation of the Public Sector Reporting Concept in Accordance with IPSAS

E.M. Akhmetshin, N.A. Prodanova, L.B. Trofimova, S.G. Kamolov, K.Z. Trapaidze and A.V. Pavlyuk

European Research Studies Journal, 2018, vol. XXI, issue Special 3, 154-165

Abstract: The author explores the essence of Russian statement of financial position of state sector entities. The approach to the features of the balance sheet is based on analyzing the classification of legal entities in the norms of the Civil Law of the Russian Federation. The objective of the article is determination of public sector reporting entity as well as a development of draft report on the financial position of the public sector entities. The author applies the institutional methodology in evolving perceptions of financial statements the reporting public sector entities have developed in the context of transition to international public sector accounting standards (hereinafter - IPSAS). The methodology is based on a detailed analysis of the legal framework of various related institutions: law, budget accounting, international financial reporting standards (hereinafter - IFRS) and other institutions. The results of the study justify and develop a new concept of public sector reporting entities. Given the new concept, the draft statement of financial position for Russian public sector entities was developed, which is universal for both state-owned (budgetary) and autonomous institutions.

Keywords: Public sector financial reporting entities; commercial organizations; institutional methodology; non-profit organizations; non-current assets; current assets; financial result; financial assets; non-financial assets. (search for similar items in EconPapers)
JEL-codes: H80 K20 L32 M40 (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:ers:journl:v:xxi:y:2018:i:special3:p:154-165

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