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Problems in Accounting of Bad Debts Reserve of Public Sector Organizations

Tatyana G. Arbatskaya ()
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Tatyana G. Arbatskaya: Baikal State University, Irkutsk 664003, Russia

Finansovyj žhurnal — Financial Journal, 2019, issue 3, 91-105

Abstract: The article describes the main directions of reforming the accounting of accounts receivable and allowance for doubtful accounts of public sector organizations. It also compares the requirements for accounting of accounts receivable and allowance for doubtful accounts in organizations of the private sector of the economy and in public sector organizations, as well as taxation. The author's proposals are aimed at further improvement of the methodology and methods of accounting in the public sector. The author suggests that the list of criteria for doubtful accounts recognition be expanded with a criterion for the absence of receivables security with guarantees provided by law or by contract. In addition, the author sets forth a supplementation of the chart of accounts with a synthetic account for accounting of bad debts reserve and correspondence of accounts for forming and using bad debt reserve and allowance for doubtful accounts. According to the author, the improvements proposed would allow one to take into account receivables and financial results of a given organization in the public administration sector in accounting and financial statements in accordance with the federal standard requirements.

Keywords: public sector organizations; budget revenue; accounts receivable; allowance; allowance for doubtful accounts (search for similar items in EconPapers)
JEL-codes: M41 M48 (search for similar items in EconPapers)
Date: 2019
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DOI: 10.31107/2075-1990-2019-3-91-105

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Handle: RePEc:fru:finjrn:190307:p:91-105