Developing Federal Accounting Standards for Public Sector Organizations Апрель 2018

ALIGNG METHODOLOGY WITH INTERNATIONAL PRACTICE (IPSAS) PFM REFORM – GOALS ALIGNG METHODOLOGY WITH INTERNATIONAL PRACTICE (IPSAS) ESTABLISH CONDITIONS TO ALLOW THE USE OF ACCRUAL RESOURCE DATA FOR BUDGET EXECUTION (DEVELOPMENT) DECISIONS MORE EFFICIENT ACCOUNTING, INCLUDING REPORTS PREPARATION AND SUBMISSION ALIGN REPORTING AND ACCOUNTING WITH GFSM 2014 AND SNA REQUIREMENTS

ALIGN METHODOLOGY WITH INTERNATIONAL PRACTICE (IPSAS) DEVELOPMENT AND IMPLEMENTATION OF IPSAS-BASED FEDERAL STANDARDS. CONCEPTUAL FRAMEWORK. EXPANDING CONSOLIDATIONS TO THE PUBLIC SECTOR OUTER PERIMETER.

EX-ANTE CONTROL TO REDUCE ERROR LIFE TIME MORE EFFICIENT ACCOUNTING, INCLUDING REPORTS PREPARATION AND SUBMISSION MIGRATION TO E-WORKFLOW BASED ON SINGLE-ENTRY AND UNIFORM REFERENCE BOOKS ESTABLISH CONDITIONS TO ALLOW THE USE OF ACCRUAL RESOURCE DATA FOR BUDGET EXECUTION (DEVELOPMENT) DECISIONS ESTABLISH EXCELLENCE CENTERS AT FINANCIAL BODY (CENTRALIZATION OF ACCOUNTING) EX-ANTE CONTROL TO REDUCE ERROR LIFE TIME

ALIGN REPORTING AND ACCOUNTING WITH GFSM 2014 AND SNA REQUIREMENTS A NEW CLASSIFICATION ALIGNED WITH GFSM 2014 AND SNA HAS BEEN APPROVED METHODOLOGY FOR GENERATING GOVERNMENT FINANCE STATISTICS REPORTS IN LINE WITH INTERNATIONAL REQUIREMENTS HAS BEEN DEVELOPED

TRANSITION TO STANDARDS: IMPORTANT MILESTONES DEVELOPMENT PROGRAM APPROVAL DRAFT STANDARD DESIGN (DISCUSSION, EXPERTS) STANDARD APPROVAL PUBLICLY AVAILABLE ON WEB PORTAL: PRESENTATUIONS, LIST OF RELEVANT ISSUES, GUIDELINES, TRAINING MATERIALS TRANSITION TABLES, REFERENCE RECOMMENDATIONS

Official website of the RF Ministry of Finance

TRANSITION TO STANDARDS: IMPORTANT MILESTONES IMPLEMENTATION SUPPORT!!! OFFSITE MEETINGS DEVELOP SCENARIOS OF REPORTING DATA USES USING ACCOUNTING (REPORTING) DATA IN DEVELOPING REGULAR BUDGET CYCLE

A Program to Develop Federal Accounting Standards for Public Sector Organizations 28 FAS «Budget Information in Accounting (Financial) Statements» (37н), «Non-Produced Assets» (34н), «Biological Assets», «Accounting (Financial) Statements in Inflationary Economies» (62н), «Inventories» (63н), «Provisions, Contingent Liabilities and Contingent Assets» (276н), «Approaches to Generate Government Accounting (Financial) Statements and Government Finance Statistics», «Revenues» (32н), «Intangible Assets», «Long-Term Contracts», «Employee Benefits», «Concessions», «Effects of Changes in Foreign Exchange Rates», «Conceptual Framework for Accounting and Reporting of Public Sector Organizations» (256н), «Borrowing Costs», «Financial Instruments», «Property, Plant and Equipment» (257н), «Cash Flow Statement» (278н), «Leases» (258н), «Accounting Policies, Changes in Accountingh Estimates and Errors» (274н), «Impairment od Assets» (259н), «Presentation of Accounting (Financial) Statements» (260н). «Events After the Reporting Date» (275н), «Segment Reporting», «Информация о связанных сторонах» (277н), «Consolidated Accounting (Financial) Statements», «Participation Interest», «Joint Ventures»,

A Program to Develop Federal Accounting Standards for Public Sector Organizations for 2016-2018 As per the Program to Develop Federal Accounting Standards for Public Sector Organizations approved by RF MoF Ordinance №64н dated April 10, 2015 (№218н dated November 25, 2016, as amended) (became invalid), the following federal accounting standards for public sector organizations have been developed: Federal Standard Approval Effectiveness Conceptual Framework for Accounting and Reporting of Public Sector Organizations Fixed Assets Lease Impairment of Assets Presentation of Accounting (Financial) Statements Approved by MoF Ordinances (№№ 256н, 257н, 258н, 259н, 260н dated 31.12.2016) 01.01.2018

THANK YOU! Svetlana.Sivets@minfin.ru