Development of the Methodology of Recognition and Assessment of Social Obligations in the Financial Statements of Companies

Abstract

The relevance of this research work of accounting methodology is determined in the context of increased requirements on behalf of stakeholders for information reporting on financial statements. Due to intensive development of social policy, companies actively implement corporate pension programmes, which require proper assessing and timely recognition of pension liabilities in accounting. The purpose of this research work is to identify and analyse problematic aspects of accounting for social commitments to employees, particularly, corporate pension programmes, as well as to develop a methodology for generating accounting information about this group of corporate commitments. The methodological basis for the given research work includes systematic and dialectical approaches, along with such a set of general scientific methods of cognition, as observation, systematization, comparison and generalisation. The given article considers domestic and foreign norms of accounting regulations related to employee remuneration, including payment after the termination of labour activity. In order to analyse practical aspects of this topic, the author used the actual reporting data of several largest Russian enterprises in the mining and metallurgical sectors. The findings of the study reveal the insufficiency of regulations on accounting for pension liabilities in the Russian accounting system. The article substantiates the need to refine on the rules for recongnising and assessing pension liabilities, and it suggests the ways to improve the quality and reliability of accounting information used for reporting purposes in accordance with Russian accounting standards.