Report on the financial results of public and commercial sector organizations: Preparation particularities and analytical capabilities

Abstract

Subject. This article examines the particularities of the formation and analytical capabilities of a main form of accounting (financial) reporting, namely the Statement of Financial Results of public and commercial sector organizations, including the applicability of foreign standards, methods of economic analysis, etc. Objectives. The article aims to substantiate recommendations for the development of information and analytical capabilities of the Statement of Financial Results of public and commercial sector organizations based on a critical assessment of the positions of domestic researchers, analysis of Russian and foreign accounting and reporting standards. Methods. For the study, we used the methods of analysis, grouping, comparison and generalization. Results. Based on the review of the main approaches presented in the research of domestic authors on the stated topic, taking into account the provisions of Russian and foreign accounting standards and financial reporting, a comparison of the articles of the Statement of Financial Results and the procedure for their formation by public sector institutions and commercial organizations was carried out. The article presents the author-developed proposals to improve the analyticity of the Statement of Financial Results both for budgetary and autonomous institutions, and for commercial organizations. Conclusions. Differences in the requirements for the formation of information in the Statement of Financial Results contained in the regulatory enactments for the public and commercial sectors can be used to develop recommendations to improve the analytical nature of the information presented in it, ensuring the depth and accuracy of the results of economic analysis.