Problematic aspects of application of international public sector accounting standards in Russian universities

DOI

10.2991/ies-18.2019.34How to use a DOI?

Keywords

financial reporting, international public sector accounting standards, public sector, university

Abstract

This paper considered the practical application of international public sector accounting standards (IPSAS) in Russia. The authors analyzed consolidated financial statements of nine Russian universities participating in the 5-100 project. The results of work point out main problems in the application of IPSAS in Russian universities: reporting of net assets attributable to owners of the controlling entity; discloser of information about land and buildings owned by universities on the basis of operational management and free of charge use; qualification and recognition of revenue from non-exchange transactions; reporting of information on significant types of revenue. As a result of study, discrepancy between structure and content of financial reports preparing by Russian universities was identified. This results in impossibility of external users to obtain comparable information about the financial position and financial performance of universities. The paper comes out in support of idea that it is advisable to use unified approaches to the preparation of financial statements in order to ensure comparability both with other Russian universities and leading world universities. The authors developed the proposals on preparation of information about net assets of universities, recognition and assessment of assets, qualification and classification of revenues, disclosure of information in the financial reporting.

Copyright

© 2019, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Lidiya Kulikova
AU  - Anna Goshunova
PY  - 2019/11
DA  - 2019/11
TI  - Problematic aspects of application of international public sector accounting standards in Russian universities
BT  - Proceedings of the Third International Economic Symposium (IES 2018)
PB  - Atlantis Press
SP  - 211
EP  - 218
SN  - 2352-5428
UR  - https://doi.org/10.2991/ies-18.2019.34
DO  - 10.2991/ies-18.2019.34
ID  - Kulikova2019/11
ER  -