The global trend of widespread of public non-financial reporting makes the researchers face the task of finding its scientific basis. A unified theoretical and methodological basis of the concept of public non-financial reporting can be able to form the system of categories, laws, postulates and allow to implement effectively the processes of norm-setting, standardization and harmonization of public non-financial reporting with financial reporting. The purpose of the article is to provide the rationale for the choice of concept of information asymmetry as a fundamental theoretical basis to justify the phenomenon of public non-financial reporting.

In the study the author applied the following research methods: analysis, synthesis, induction, deduction, comparison, generalization, and a systems approach.

The article provides the results of analysis of extension of public non-financial reporting and identification of the problems of its application in Russian firms. The author systematizes the theoretical concepts be able to explain a phenomenon of public non-financial reporting: concept of sustainable development, the stakeholder theory, the doctrine of fair contracts. The author also demonstrates that the concept of information asymmetry is unifying for all of them and can be used to explain the voluntary adoption of obligations for additional disclosure of non-financial measurers by business.

There is a need for a further scientific discussion of ideas about the implementation of public non-financial reporting as a prescriptive institutional or voluntary signaling mechanism, problem of its standardization, the counteract unfair usage of non-financial reporting to strengthen the negative effects of information asymmetry and the reallocation of market goods.

The article analyzes the reasons for the need for harmonization of various areas of accounting, including ambiguity in the interpretation of a number of terms, the meaning of important indicators, the application of certain methods, and the lack of a unified concept that unite all areas of accounting with a single goal. In a digital economy, the negative impact of these differences on the effectiveness of the accounting area is manifested especially bright. As a result, the transformation of the accounting sphere becomes a priority in the situation when the information, knowledge of any subject of the economy represents a resource of the highest value. In the article, only four areas of research are considered, according to which, first of all, it is necessary to achieve a correspondence between the areas of the accounting sphere: the approach to virtual operations; scope of using probabilistic indicators; terminology; details of accounting information. Also, a proposal was made to develop a unified concept for accounting, auditing and analysis in the digital economy (including also integrated reporting in the accounting area). This concept should be based on the capabilities of digital technologies that allow instant communication between different sources of information and handle Big Date. The goal of a single accounting concept is to create knowledge (information resource) in relation to both individual economic entities and their groups, as well as other new structures and forms of their cooperation for all interested users. Three principles on which the development of the accounting sphere in the conditions of the digital economy should be built: the provision of information security; continuous interaction of the accounting sector with other areas of the economy; visualization of knowledge. These three principles form the priority directions for further research into the development of the accounting sector in the digital economy.

Strategic management accounts (SMA) is designed to maintain the optimal position of the economic entity in the external environment. Such position is supported through implementation of a set of measures based on the elements and characteristics of SMA which makes it possible to use fully the whole potential of the production system. This system is based on the principles of production efficiency and allows the fluctuations in socio-economic indicators measuring the performance of an economic entity in a certain period of time and in a certain economic zone. A possible way to achieve this effect is to create the company’s reproductive circuit, which has an innovative basis. The reproduction circuit is a set of conditions aimed at the continuous implementation of reproductive processes in relation to the resource potential of an economic entity, which allows and stimulates the introduction in its production process a number of innovation technologies to get additional effect in accordance with the requirements of intensification.

The reproduction circuit is divided into external and internal. The former forms a set of external stimulation actions, and the latter is focused on the use of inducing action of information and technological nature, as well as an internal mechanism of the enterprise.

Consolidation of the external and internal reproduction circuit determines the efficiency of each production unit of the economic entity, taking into account the speed of its adaptation to the new operating conditions by different parameters.

Elements and characteristics of SMA are those functions that make SMA uniquely different from other forms of accounting (management accounting and financial accounting). This article represents the relevance of the analysis of innovations, as one of the elements of SMA.

In the article, two main tasks of accounting are considered, which were formulated by Italian professor Vincenzo Giitti at the end of the nineteenth century, namely, the task of creating a scientifically sound accounting theory, and the task of developing accounting methods that meet the needs of modern enterprises. It is noted that at the present stage of development of accounting, these tasks have not lost their relevance. Despite all the attempts made, the generally recognized scientific theory of accounting has not yet been created, and the existing methods of accounting do not correspond to the needs of organizations created in the form of large integrated structures. The conducted research has shown that presently in the economy of the Russian Federation the significant share is occupied by the organizations carrying out financial and economic activity through affi ed and dependent societies. Organizations with a branched, integrated structure that includes subsidiaries and affiliates, as well as affiliated persons, account for at least 37% of the aggregate output of Russian organizations (total revenue of organizations) and a significant share of the capitalization of Russian organizations. The author argues that the existing consolidation methods provided for by international fi reporting standards are outside the accounting methodology, which, in turn, actualizes the problem of developing consolidated accounting methodology.

In recent decades, worldwide active development of non-financial reporting is underway, its legislative regulation and standardization are being formed. In Russia, the Concept of the Public Non-Financial Reporting Development was approved by the Government of the Russian Federation. Realization of the tasks set in the Concept requires an active communication between all stakeholders.

By now, in Russia there is a group of the companies-leaders in the field of making reports on sustainable development. However, most Russian companies still need to master the principles, methods and techniques for preparing such reports. This article is primarily addressed to those organizations that are currently in the process of collecting information and understanding the tasks to address in the first place.

The article is based on the result of analyzing the requirements and recommendations of the most widely used standards on sustainable development reporting (GRI — Global Reporting Initiative), integrated reporting (IR — Integrating Reporting), and US standards for sustainable development reporting (Sustainability Accounting Standards Board Standards or SASB Standards). Public non-fi reports registered on the website of the Russian Union of Industrialists and Entrepreneurs (RSPP) form the empirical basis for the analysis.

The paper proposes a sequence of procedures and actions to prepare a corporate report on sustainable development and provides recommendations for the implementation of each stage. It is recommended to consider the process of preparing such a report as an investment project, to which a standard technique of project management and network planning can be applied. It is shown that investments in the development of a report on sustainable development should bring returns and solve various strategic tasks, such as promotion of the organization brand and reputational risk management through interaction with interested parties. The availability of quality information on sustainable development for interested users is becoming an important factor affecting business decisions, such as choosing supplier in procurement, and can be considered as a potential competitive advantage. This leads to the fact that sustainable development reporting is increasingly becoming a strategic tool for managing the value creation process and implementing corporate communications.

The concept of non-financial reporting development, approved in May last year by the decree of the Government of the Russian Federation, defines an integrated report as one of the possible types of non-financial reporting. However, Russia does not have experience in compiling this type of public reporting, considering that the very concept of integrated reporting was formalized in the form of International Integrated Reporting Basics relatively recently - in December 2013. In this regard, the study of foreign experience in disclosing information regarding the structural elements of integrated reporting is relevant and is the subject of the article research. 

The goal of the research is to identify the best practices of information disclosure in integrated reports concerning the main problematic aspects and to propose them for use in management practice by Russian economic entities. The analysis of foreign experience of information disclosure was conducted according to the data of integrated reports of South African companies for 2012–2014, which got in the top 10 listed companies of the annual rating of Ernst & Young Global Limited “Improvement in the integrated reporting” in 2013–2015. The research uses a theoretical-empirical method, benchmarking. In order to raise the awareness of the reporters and stakeholders about the best practices that have been developed around the world in the area of integrated reporting, the possible approaches to disclosing information on interaction with stakeholders, on the achievement of strategic goals, on the concept of value creation and the business model are presented. These approaches can be used by Russian economic entities when they introduce this innovative reporting model.

The best practices of disclosing information on certain structural elements of the integrated reporting presented in the article can help accelerate the implementation of integrated reporting in the management practice of Russian economic entities, as well as improve the quality of information disclosure.

The purpose of this article is to study the problems of convergence of investment property accounting in Russian and international financial reporting standards. The relevance of the question is due to the increasing role of such objects in the activities of Russian organizations. The research methodology includes the critical analysis of regulating modern investment property accounting in Russian and international financial reporting standards. This article uses such methods as analysis and synthesis, comparison, method of analogies, method of groupings, systems approach and logical approach. The study reveals discrepancies in the conceptual apparatus connected to investment property accounting; in various Russian regulatory documents; in interpretation of the notion of investment property in Russian GAAP and IFRS along with the differences in the investment property valuation methodology in Russian and international fi reporting standards.

This article investigated the regulation of all Russian and International financial reporting standards subsystems. Russian accounting standards subsystems are the regulatory documents of organizations belonging to public and private sectors. The latter includes the normative documents of financial and nonfinancial organizations. When analyzing the regulatory documents on accounting in financial organizations the documents of credit and non-credit institutions were considered separately. As international standards subsystems were considered International Public Sector Accounting Standards (IPSAS) and International Financial Reporting Standards for private sector. The authors give the critical analysis of the validity of the investment property accounting regulations in Russian and international financial reporting standards. The authors substantiate the prospects of the further convergence of the investment property accounting rules in Russian and international financial reporting standards.

The subject of this article is the multitude of processes of management accounting standardization. Its goal is to justify the need for standardization of management accounting as an initial stage in the development of its institutional environment and working out ways to solve this problem.

To achieve this goal, the present article analyzes Russian and foreign scientific publications which are devoted to the problems of standardization of the accounting system, and critically assesses the current practice in the field of standardization of management accounting. In the process of research, the methods of logical and expert analysis were used.

The article outlines the negative consequences of the lack of institutional regulation of management accounting inRussia— both for the further development of its theory and for practical advancement. The negative impact of the current situation on the educational process was especially noted.

The urgent need for standardization of Russian management accounting as the first stage of the institution of its institutional regulation has been revealed. Particular attention is paid to possible directions of standardization of management accounting in the public sector, as well as the development of a professional standard «Managerial Accounting Specialist».

The conclusion is made on the need to standardize management accounting at two levels — macroeconomic, which involves developing standards that take into account the specifics of different sectors of the economy, and at the level of microeconomics, which means the development of internal standards and regulations directly by business entities, taking into account the first-level standards.

In the digital economy the task of real-time monitoring of the state of production chains creates an objective need to restore normative economy. Detailed study of normative production accounting becomes particularly relevant and significant. The aim of the study was to classify the issues of normative production accounting and to justify the ways of solving them for further standardization and regulation of analytical procedures. Empirical methods such as observation, comparison, induction and deduction were used in the study. The article reports the results of the retrospective analysis of the provisions and practices of the normative method as well as the state of the deployment of the production operations and chains in the current context. It was determined that the formula for the normative method requires modification while the algorithm for allocation of indirect costs requires justification and interpretation. The study concludes that theoretical and methodological provisions of the normative method should be developed regarding the business processes. The set of characteristics which determines competitiveness of business processes was argued as the accounting object. Basing on this it was proven that there is need for further development of national standards for statistics, metrology, accounting as well as for the use of a common classification of industries and typology of production.

The subject of the article is the analytical procedures to assess the performance of digital companies. The purpose is to consider the peculiarities of digital companies on the basis of stakeholder theory, resource approach to analysis, as well as to develop the algorithms for analysis and their testing on the data of an existing company.

The methodology which comprises 6 stages and takes into account the special features of digital companies is developed. The first stage assesses a sector of economy, its profitability, risk exposure and development trends. The rationale for the higher efficiency and risk exposure of the quaternary sector of economy is provided. At the second stage the competitive advantages of a company and its peer market position are analyzed. The third stage analyzes the distribution of the company’s cash flow using stakeholder approach to analysis. At the fourth stage the analysis of the fi position of the company is made on the basis of its cash fl w assessment which involves calculation of the company’s ratios of profi , business activity, liquidity and solvency. The fifth stage provides the analysis of investment activity and efficiency of the company on the basis of its operational and investment cash flows. The sixth stage considers the value factors which are directly connected to intellectual capital and goodwill. At this stage an “innovation reward” of the company is assessed. This reward represents the measurement of value factors in monetary terms and reflects the growth rate anticipated by investors when setting the share price.

The proposed methodology makes it possible to analyze the performance of digital companies on the basis of stakeholder approach using publicly available information. The article can be useful for analysts assessing a company performance using its integrated reporting.

The article considers the issues of managing an Organization’s Development Potential based using a Balanced Scorecard. When innovative technological processes are implemented one of the most effective mechanisms of strategic management is a balanced scorecard. The use of this tool leads to successful development of the organization and increases its value. The core feature of the balanced scorecard is development potential. The authors define what “development potential” is and propose the methods for its analysis. To assess the development potential the following indicators can be used: work satisfaction, staff stability, labor capacity, etc. The authors propose a methodology for analysis of development potential by polling to find differences in the quality of WORKING LIFE in different categories of employees. The polling was carried out among the employees of Oil and Gas Company. The sample covered 342 people: 31% of which belong to whitecollars (managerial staff) and 69% were blue-collars. The questions in the questionnaire were divided into 9 sections, which evaluate various aspects of quality of WORKING LIFE: assessment of working results, workers’ participation in management, assessment of professional knowledge and skills, skill level, the impact of work on personal lives of employees and others. For each question average weighted arithmetical mean is calculated in order to obtain numerical data. To find deviations the authors correlate the obtained numerical values with the normal level of average weighted arithmetic. The result of this research is the proposal about transition to the balanced scorecard, which, in its conceptual framework, in the authors’ view, focuses on the development potential of the whole team. Management of development potential is based on the interaction between the organization and the employee, the use of the balanced scorecard can make this interaction more effective.

The paper discusses some issues of existing norms and requirements to educational and professional activities. The required soft (non-technical), general professional and professional skills are prescribed by educational standards, job descriptions are regulated by professional standards. Higher education programs must provide quality professional skills. A mandatory assessment and monitoring of professional skills should become a powerful motivator for employees’ long-life learning and selfeducation. A criterion for assessing the quality of education is a graduate who works in the specialty and qualitatively fulfils the job responsibilities. The reference to the statistics in educational and budgeting spheres is used to raise the problem of practical compliance of educational standards and professional job functions. Educationalstandardsshouldspecifythejobsappropriateforthegraduate.The control over competence formation must ensure the qualitative qualification. The conclusion is made that an employer does not finds it beneficial to retrain a certified specialist. A graduate of higher educational institution should be able to immediately fulfill the duties stated in his job description. In all stages of their higher education program, students should learn by doing to enhance skills by action learning, which must be ensured by the educational institution. In this regard, internship curriculum should be constantly monitored and regularly updated. There is an urgent need for educators to take up part-time jobs with relevant non-educational organizations or to receive regular refresher training. As for engaging outside professionals from non-educational organizations, it could be considered only as exception. It is proposed to develop a separate educational standard for the training of lecturers of higher education, as teachers must master the methodology of teaching students. A standard to guide professional activities of lecturers should also be worked out and recommended for practical application. This standard should be an extension of the educational standard. The potential and viability of this study is proved by the draft educational standards that put educational skills in compliance with professional standards (job descriptions).The growing number of publications on harmonizing educational and professional standards is also an evidence of its topicality.