The article describes the major stages and the evolution of the research in the sphere of sustainability of economic entities (units), defines the relationship between sustainable development and changes in the key elements of an organization’s business processes, identifies the peculiarities of sustainable development of economic units belonging to different levels and their interdependence. The author analyses the basic approaches to giving definitions of sustainability in political economy, system analysis and in applied economics, singles out their similarities and objective differences. The article mainly focuses on defining sustainability ofa business entity as a primary element of national economy. It compares major features and factors of ensuring the sustainability including the consistency of strategic changes in different elements of production and business processes, monitoring of changes in close and distant environment of an economic entity, using the best practices of business partners, the analysis of support of long-term innovations by current changes which ensure the elimination of losses and sustainable cost reduction on the basis of resource-efficient development. Special emphasis is put on integration factors of ensuring the sustainability. The author proves that to ensure the sustainability consistent changes resulting in a synergistic effect are required.

This article is the next in the cycle of articles about the drawbacks of the International Financial Reporting Standards (IFRS) which was started in the previous issue of the journal. This cycle aims at exchanging opinions and discussing the possible ways to improve IFRS. The article discusses further the drawbacks of IAS 2 “Inventories” focusing this time on the recommendations of IAS 2 on measuring inventories in particular on their cost. Theauthors criticize the part of the standard which restricts the inclusion of administrative overheads in the cost of inventories, draw attention to the fact that circumstances where borrowing costs are included in the costs of inventories are not defined clearly and that there is certain inconsistency between IAS 2 “Inventories” and IAS 23 “Borrowing Costs”. The article also considers some other problems including the problem of singling out a financing element when inventories are purchased on installment basis.

The issues of integration of all types of accounting are not really new, they were formulated both theoretically and practically more than about 30 years ago when the automated systems of processing economic indicators, including the information from primary accounting documents, evolved. Nowadays they are becoming increasingly topical first due to the development of information technologies and second because a demand naturally arose for the standardization of accounting processes under conditions of consolidation and globalization of the economy. The article considers the possibility and necessity of introducing such new categories as “integrated accounting” and “integrated control”, and their relation to other types of accounting and control.

This paper presents a systematic view on the problem of monitoring and evaluation of innovation activities of companies implementing the paradigm of sustainable business development. This paper suggested a controlling model of a company’s innovation process, based upon a combination of diagnostic and prognostic KPIs. This model provides stakeholders with required information to measure a company’s innovation performance. The followingareas for monitoring are considered: idea and knowledge management; organizational culture and structure; competitiveness of innovation strategy; capital investments and operating expenses; outputs and outcomes; an innovation capabilities management system including project and portfolio scheduling and supervision models. The proposed approach to the selection of KPIs can be considered as universal “modular units” for creating a measurement system to evaluate the innovation efficiency and initiate innovation performance.

The article describes the basics of formation of economic analysis as an independent scientific sphere and thefield of practical professional activity.The article gives a comparative analysis of the targets and tasks of economic analysis on different stages of its development. It also gives a brief review of the historical stages of development of economic analysis methodology. It defines the place of economic analysis in the system of accounting and financial research directions.The article formulates the objectives and approaches of improving the theoretical foundations of economic analysis in the contemporary conditions of market relations development. A new direction of development of the methodology of economic analysis is substantiated in the article - which is called the strategic economic analysis. Its concept as well as its conceptual components are formulated in the article, and a range of problems and trends are outlined. The article suggests to consider the strategic analysis model from thestructural point of view, basing on the relationship of its three basic elements which define its contents: the theoretical framework (methods, techniques, types and directions); strategic management paradigm (innovation, value, competitive, structural, organizational) and the system of information resources.

The purpose of this article is to study the analytical principles of managing a company which implements the business excellence model under existing conditions of its functioning and development.Modern science and practice of economic analysis and control are in dire need of development of methodological approaches that could help to make such an educated management decision taking into account the fact that modern business has a strategic direction in achieving the leader’s position.To study the evolution of the economic analysis the historic parametric method was used along with abstract and logical methods, systemic, integrated, stakeholders approaches to formation of benchmarking principles. The article also touches upon taxonometric methods of analysis, data envelopment analysis, method of achievable goals. In addition the analogy of the methodological foundations of the analysis of the relationship “cost - volume - profit” was used.The research shows that the analysis tools associated with the processes of business modeling is of a great importance when long-term success of an economic agent depends on its reflection on external influence and actions. The business model represents a comprehensive and holistic description of the business, the key performance aspects of the business, which creates value for stakeholders. Its analysis allows to develop and use a scorecard, giving managers an opportunity to make strategic and tactical decisions in highly dynamic external environment. In this environment, the peer companies that have achieved the highest level of perfection should be identified and analyzed. To evaluate the effectiveness of innovative measures designed to raise the level of business excellence, the author offers to conduct analysis of invested financial resources, level of development of the company and its value.

The paper examines the transformation of national accounting in the information economy and the related issues of national accounting systems adaptation to worldwide accounting practice.The process of globalization is one of the main factors influencing the development of the whole economy and the national accounting system. In this regard, some issues connected with current condition of the national accounting system and its compliance with international practice are raised in the paper. First, the article examines the consequences of the globalization impact on developing countries, and its connection with the transition to international accounting standards. Through the use of a cross-disciplinary approach the differences in views on the process of globalization are established. The author deduces that we evidence the sharp transition to the new level of economy development - information economy. Besides, some empirical data on the economic consequences of this process are provided.The main purpose of this article is to study the ways of further development of national accounting systems under conditions of globalization. This highlights the need to assess the possibilities of using resources of the information economy to overcome transition process in developing countries. That is generally consistent with the hypothesis of growing interdependence of countries contributing to the solution of the problems associated with transitional periods and results in the necessity to accumulate and systematize accounting information in national accounting systems.

Russian budgetary institutions operate in the difficult economic conditions. On the one hand, the rate of the growth of budgetary institutions financing from the government decreases, on the other hand, the budgetary institutions, according to their status, are obliged to achieve their social objectives and successfully complete government-approved social programs. The continued reform of state-owned sector of the economy and the expansion of economic and financial autonomy of the state (municipal) institutions requires the theoretical substantiation and the development of recommendations on the organization of management accounting in state (municipal) institutions.Referring to the process analysis of the formation and development of management accounting in budgetary institutions taking into consideration the specifics of its activity as well as the modern trends of its international development, the article clarifies the theoretical and methodological foundations of management accounting (its purpose, objectives, principles, objects). An attempt was made to adapt the concept of “business model” to the activities of the Russian budgetary institutions. The functional responsibilities and the competence of an accountant-analyst of modern budgetary institutions were defined.

The article describes the main features of the management accounting concept based on the product movement at different stages of the manufacturing process by cost centers. The key element of the concept is the process of calculating “basic” and additional resources, intermediate and final products in order to managecosts following their increase in the course of manufacturing operations set by technology and production process organization.The article also focuses on building the costing process when the involvement in production occurs during all technological processes of producing goods and providing services. The use of such an approach in product and functional cost accounting, as well as in calculation of intermediate and final products creates an opportunity to choose within the controlling system the method to monitor both the level of information support for modern operational, tactical and strategic management decisions and their immediate implementation.

Some current issues of accounting for PPE are critically evaluated in the article. The whole range of measures are provided for realization as the result of the increase of PPE value per item from 40000 RUB to 100000 RUB. The new way of accounting for the costs of disposal of construction in progress and its value is recommended.The article proves the need for changes in a number of current rules and standards of accounting for goods, especially food products, under the conditions of embargo for delivery of some kinds of food products from the countries which supported sanctions against Russia.The article suggests that all the fines and penalties resulting from the violation of the rules and standards within that area of legislation should be redeemed at the expense of the own sources of the companies which had allowed that to happen.

The article describes the main problems that the auditor faces with in the course of validation of the accounting (financial) statements, if a specialized organization maintains accounting records and/or prepares the accounting (financial) statements. The inclusion of additional sections and procedures, which are associated with the need to take into account the specific features of the economic entity for the preparation of the accounting (financial) statements in the validation program, will allow to reduce the auditor’s risk. As a result of this work there were suggested some special additional auditing procedures: the testing of the significant terms and conditions of thecontract with the specialized organization, the assessment of the internal control system of a specialized auditing organization, the assessment of the level of professional background of the persons responsible for accounting, preparation and submission of accounting (financial) statements. It was also suggested to add supplementary information in the letter informing about auditing, as well as the regulations of the auditing organization “Providing access to service a new client and prolongation of the cooperation with the existing customers”.

The article features the peculiarities of accounting of income and expenses as well as taxation methods in pawnshops. The article studies the normative regulations of pawnshops, as well as the specifics and features of their business activities. The various situations of collateral loans, timely repayments of due debts, repayments of the overdue debts and non-return debts are carefully analyzed in the article. The features of statutory regulations and accounting in case of foreclosure are described in the article. The article analyzes the purpose and the description of a strict reporting form - “pawn ticket” as the main recording medium, which is drawn up in pawnshops.The article outlines the historical background of the origins and development of pawnshop business and particular attention is paid to the prospects and the problems in accounting for this type of business.

The satisfaction of key stakeholders’ requirements is one of the main but the least studied issues in the sustainable development of an economic entity. In spite of this, each company has to harmonize its activities with the stakeholders’ requirements due to the fact that these requirements reflect the economic, social environmental factors of the company’s activities. Therefore, successful implementation of strategic objectives of the company is directly related to the contentment and balanced satisfaction and of the stakeholders’ requirements. Besides, the financial sustainability is the main criterion which measures the opportunities of meeting the requirements of different groups of stakeholders as well as the level of satisfaction with these requirements. The methods of business-analysis are likely to solve these issues, as these methods include special techniques: for example they can first define the key stakeholders and then they can elicit and prioritize their requirements. In order to create the financial base to meet the stakeholders’ requirements, the conception of the balanced cash flow is considered to be appropriate, as if it is applied it will allow to eliminate the gaps between the stakeholders’ requirements and the performance of the company, together with this preserving the financial sustainability.

The paper considers strategic audit as one of the modern trends in business audit. The article provides the most adequate definition of such type of an audit. It also focuses on the features and objectives of the strategic audit, specifically emphasizing its importance for modern business. The author considers the subject to be very topical because strategic audit being relatively new is not fully researched.The purpose of the article is to define how important for business strategic audit is. As the role of audit in general and strategic audit in particular is constantly changing it is very important to understand the significance of the strategic audit nowadays.The detailed research of the strategic audit and understanding of its role can be helpful in solving the problems of meeting new needs of audit market players.

This article is devoted to the new method of providing information about the condition of the company - integrated reporting. The purpose of this paper is to study the essence of integrated reporting, to analyze the implementation of integrated reporting in Russia and to identify the existing problems of formation of integrated reporting.The increasing complexity of the economic system, which is forming the market relations requires the accounting system to have a special professional thinking regarding the issues of accounting, which ensures the accuracy of financial statements. With the introduction of the concept of the International Integrated Reporting there appeared the need to implement a certain integrated thinking, which makes it possible to understand the process of value creation over time. In this respect the relevance of this article lies in the fact that the standardization of integrated reporting will give both the companies and the users of such reporting statements the opportunity to represent the company’s real interaction with the environment and the capital in order to create value.When writing this article we applied the methods of scientific knowledge, such as the description, classification, monitoring and analysis. The result of this paper is the systematization of the information about the essence of integrated reporting and the prospects of its development and also existing problems related to this topic in Russia. This research can later be used as the basis for improving the methodology for the formation of integrated reporting.