Creating the conceptual essence of reporting public sector entities
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.Abstract
The article analyzes a number of Russian institutions that influence the
development of the conceptual framework for public sector reporting. The authors justify the
need to refine the draft document "The conceptual basis of accounting and reporting for
public sector organizations", published on the website of the Ministry of Finance of the
Russian Federation. The article develops a modern conceptual concept of reporting public
sector entities, based on a new classification of legal entities in the norms of the Civil Code of
the Russian Federation. The authors used institutional methodology in the formation of the
concept of reporting entities of financial statements of public sector organizations, developed
in the context of the transition to international financial reporting standards of the public
sector (hereinafter - IPSAS). This methodology is based on the analysis of the regulatory
framework of various related institutions: budget accounting, law, IPSAS and other economic,
legal, social and international institutions.