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Advances in Accounting and Reporting Reforms: Collaboration Among Post-Soviet Countries

This discussion highlights the key reforms in accounting and reporting among various countries in the Russian Federation, Armenia, Ukraine, Kazakhstan, Kyrgyzstan, Uzbekistan, Belarus, Moldova, and Tajikistan. It examines Russia's transition to the accrual method and its significance for these nations, focusing on the analytical justification of accrual needs, goals, and objectives. The talk emphasizes the preparation for international accounting standards, standardization in reporting, and opportunities for cooperation in developing methodological solutions for complex issues. The integration of public finance management features and collaborative frameworks is also explored.

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Advances in Accounting and Reporting Reforms: Collaboration Among Post-Soviet Countries

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Presentation Transcript

  1. Group 1 Russian Federation, Armenia, Ukraine, Kazakhstan, Kyrgyzstan, Uzbekistan, Belarus, Moldova, Tajikistan

  2. The discussion focused on accounting and reporting reforms • Russian experience of transition to accrual method is of great interest for many countries • Including analytical approach to justification of the needs in accrual method, definition of goals and objectives comprehensible for non-specialists (enhancing stability, transparency and accountability, increase the role of the state in public finance management) • Sequence of transition (defining of subjects and objects of accounting; defining, standardization of accounting and reporting rules and principles, unification of documents and processes; on-line methodological support of the reform)

  3. Also, the majority of the countries are very interested in the activity on preparation for implementation of international accounting standards • Official publication of IPSASin Russian • Draft of developed standards and respective methodological materials • Methodological solutions of certain complicated technical issues (for instance, consolidation of reports) • Interesting possibilities for cooperation between countries in development of methodological solutions of other complicated issues (Ukraine - Russia– Kazakhstan?)

  4. … as well as • Approach to budget classification and chart of accounts integration • Standardization of public institutions’ reporting • Accounting of revenues by the administrator on accrual basis • Mandatory aggregation level required by the MoF • Possibility for accounting centralization once future integrated information system is implemented

  5. Other interesting aspects of the reforms • Budget users (in future – renunciation from guaranteed budget financing, transition to market-based principles in public services • Unified portal for public procurements (though integration with the treasury system is still to be implemented) • Elements of performance-based financial motivation system used in the treasury

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