This study examines the historical prerequisites and modern trends in the development of domestic accounting in Russia influenced by international financial reporting principles. The relevance of this topic is underscored by the increasing demands for accuracy and comparability of data in the context of market globalization, where investors and governmental institutions expect a transparent reflection of assets, liabilities, and financial re-sults. The novelty lies in the comparison of traditional Russian methods with the principles of IFRS in order to identify areas for further reforms. The work describes the key stages of the evolution of the domestic balance sheet, studies the problems of harmonization of property valuation rules and understatement/ overstatement of asset value. Particular attention is paid to the formation of accounting in transition periods and the influence of legal norms on the methodology. The aim of the article is to assess the scale of changes made to domestic standards and determine the optimal directions for their further convergence with IFRS. To solve this problem, historical and systemic analysis of sources, comparative methods and a review of publications were used. The conclusion emphasizes the importance of the progressive implementation of international practices. The article will be useful for accounting practitioners.
Antikyan et al. (Wed,) studied this question.