Analysis of the Feasibility of Applying IFRS 18 Innovations in Russian Accounting to Reflect Performance Indicators Determined by Management

The international financial reporting standard IFRS 18 “Presentation and Disclosure in Financial Statements” will come into effect on January 1, 2027. It replaces IAS 1 “Presentation of Financial Statements,” which is currently being closely followed by the Russian FSBU 4/2023 “Accounting (Financial) Reporting.” The objective of the study is to assess the feasibility of both incorporating new regulations (IFRS 18) into the national standard FSBU 4/2023 regarding the reflection of performance indicators determined by management in financial statements and developing recommendations for amending FSBU 4/2023. Based on the conducted research, recommendations were developed for amending FSBU 4/2023 with these regulations, taking into account the elimination of the deficiencies contained therein. The results of the study will be useful to developers of Russian accounting standards, as well as academics and practitioners interested in the issues of reflecting information about an organization’s activities in accounting (financial) statements.

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