No abstract

Nowadays the role of accounting in managing the economy of businesses is increasing. Accounting is one of the main information sources for making managerial decisions in organizations. However its current model calls for improvement of accounting of production capacity of economic entities namely accounting of fixed assets. The article aims at substantiating and developing the recommendations on how to improve the organization and methodology of fixed assets accounting. The existing legal norms and rules make the methodological basis for the study. The general scientific methods of comparison, deduction, analysis and synthesis are used in the study. The critical analysis of existing regulations on accounting of the fixed assets reveals substantial drawbacks related to accounting of fixed assets at the end of the normative useful life if these assets are still used in production; costs of fixed assets modernization and costs of their major repair. The author makes certain proposals on the amendment of existing rules of fixed assets accounting in order to make the reporting of the economic processes in this area more realistic and transparent. These proposals should be considered in the first run by the specialists in accounting methodology when developing a new standard.

The contents of the new three instruments relating to various areas of accounting have been reviewed and critically evaluated. Among them is the «Programme for the development of the Federal accounting standards for the years 2018–2020. There have been revealed signifcant gaps in it and the main areas in which it should be refned have been identifed. This article also outlines possible consequences from the two other novels: the Russian Government planned to introduce electronic employment cards for the employees and to liberate all the organisations from submitting their annual fnancial statements to Russian Federal State Statistics Service in 2010. Apart from the positive aspects of these decisions, the article draws the readers’ attention to some, at the very least, more alarming factors from their implementation in practice.

The paper gives a critical assessment of certain provisions of the Russian Labor Code. The purpose of research was to substantiate the need to supplement the Russian Labor Code with the provisions stipulating the mandatory allocation to employees of a part of the surplus capital created by their labor, quotas for the mandatory presence of representatives of labor collectives on directors’ boards and in other governing structures of joint stock companies; as well as the need to revise the employer’s liability for delayed payment of wages and salaries established in the domestic legislation. It is concluded that increasing the level of legal protection of the economic interests of employees of enterprises/organizations by amending the Russian Labor Code will boost the business activity of individuals and legal entities contributing to the sustainable development of a socially-oriented state as Russia positions itself.