THE ACCOUNTING REFORM IN THE STATE SECTOR: POTENTIALITIES FOR REFLECING THE NORTHERN SPECIFICITY
The modern conditions for conducting economic activities and making management decisions require creation of an up-to-date accounting system. In this regard, the ongoing reform of the accounting of state sector organizations, which will last until 2020, is very relevant. The Ministry of Finance of the Russian Federation adopted normative legal documents and from January 1, 2018 nineteen (out of forty-five planned) new standards for accounting in state sector organizations will be put in place. The approved standards provide an opportunity for more flexible adjustment of accounting records, depending on both the scope of activities and specific regional conditions. This issue is very relevant for the Russian Federation, which has vast territories and, consequently, various conditions for doing business. The article gives an overview of the reform and highlights the key points that allow taking into account the regional specifics of the North and the Arctic, which consists in the need for accelerated renovation and modernization of fixed assets due to their increased wear and tear and state guarantees and compensations for the population.