Financial instruments reflected by organizations in accordance with international standards of financial accounting of public sector

Abstract

In the paper conceptual and methodic problems of international standards of financial accounting of public sector implementation into economical activity of governmental organizations of the Russian Federations are considered. The implementation of international standards in Russia is the first step for principal reforming of attitude towards incomes/expenses, deficit/surplus in organizations of government (public) sector of national economy. Authors have researched financial instruments used in activity of public sector’s organizations. In the article basic accounting instrumentation for estimation of loans and receivables, subsequent appraisal of investments in equity instruments, author’s formulas on calculation of investments and identification of fair value from withdrawal of the financial asset are particularly examined, author’s formulas on calculation of subsequent assessment of financial instruments by four typical categories.