The directions of improving the Russian chart of accounts in order to align it with the International Financial Reporting Standards' requirements and ensure its usability in the digital economy for reports online preparing at the official web-sites of companies, using the cloud technologies have been considered. The proposed method of preparing online reporting assumes that accounting entries will be posted on the lines of financial statements after each transaction occurs, which will enable the users to receive the information about changes in the financial statements immediately. Attention has been paid to the issues of financial statements elements estimates regulation directly by changing the accounting plan, but not by counter accounts. The necessity of abandoning the concept of “additional capital” that does not exist in international practice and an account of the same name in the Russian chart of accounts and replacing it with separate accounts to account for share premium and revaluation reserve has been substantiated.
The authors of the papers are trying to answer the question concerning the innovative digital technologies that would facilitate the digitalization of accounting, financial reporting, and auditing. To this end, the authors carried out an analysis of global trends on the application of digital technologies in related fields and also prepared a summary of findings presented in reviews of consulting agencies and the articles of famous scientists. The article describes the methodology of distributed ledger technology (blockchain) as well as justifies the urgency and feasibility of using blockchain technology in financial reporting and auditing. Findings: 1. Key trends in the development of financial reporting and auditing have been revealed, namely integration into the digital environment, a description of big data working methods, the transition to online reporting and its continuous audit. 2. An algorithm for the application of blockchain technology in accounting, reporting, and auditing has been proposed. 3. A classification of fraud cases in financial reporting in Russia has been provided and blockchain-based preventive measures have been outlined.
In this article, the authors consider reasons for development of variety of accounting policies and examine influencing of selected accounting policy elements on valuation of financial statements indicators. Obviously financial statements indicators are definitely one of the most important sources of information for financial analysis and management decisions. Financial analyst should be aware, which valuation methods have been presented in this financial statement, and how they influence on formulated by him analytical conclusions. The approach presented in the article to the assessment of the impact of accounting policies on the financial statements’ indicators and the conclusions formulated by the authors as a result of the research allows to get answers to these issues.
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