The procedure for the formation of accounting statements of commercial organizations: application of requirements according to the draft FAS 4/20_ "Accounting statements of the organization"
Accounting of property and liabilities in business entities is conducted in accordance with the requirements of the Federal Law «On Accounting», accounting regulations and federal standards replacing them. The article studies the draft federal accounting standard «Accounting statements of organizations» in order to analyze the main changes related to the formation of financial statements of commercial organizations. A comparative characteristic of the formation of reporting in accordance with the requirements presented in the draft federal standard and PBU 4/99 «Accounting statements of the organization» is presented. The topic under consideration will be of interest to managers of business entities, as well as specialists in the field of accounting.