Abstract:
© 2020. All Rights Reserved. This article examines the practical use of international environmental management standards and also accounting standards (IPSAS) in Russia. The writers investigated the consolidated financial reports of 9 universities of Russia engaging in the 5-100 scheme. The work’s outcomes reveal the primary issue in the use of IPSAS in Russian universities: describing of net assets related to discloser of information, owners of the controlling entity regarding property and constructions held by universities based on operational management and free of charge use; eligibility and identification of income from non-exchange transactions; recording of data on essential sorts of income. As a consequence of the examination, a discrepancy between the structure and content of financial statements providing by Russian universities was distinguished. These outcomes in the unlikelihood of outside users to achieve comparable data concerning the financial position and performance of universities. The essay advocates for the idea that it is desirable to utilize unified strategies to the preparation of financial reports to guarantee comparability both with other Russian universities and foremost world universities. The writers produced the recommendations on the preparation of information regarding net assets of universities, identification and evaluation of assets, eligibility and classification of incomes, disclosure of data in the financial reporting.
