Disclosure of information in accounting (financial) statements taking into account risk factors

Abstract

The article discusses the specifics of information disclosure in the accounting (financial) statements of organizations, taking into account the changes in a number of PBUS introduced by Order of the Ministry of Finance of the Russian Federation No. 287n of 27.11.2020. The problems of the article are relevant in the context of the preparation of annual reports and the need to form explanations to it, taking into account the requirements of regulatory documents. The amendments significantly limited the disclosure requirements in the financial statements. The amount of information disclosed depends on the economic risks that accompany the information openness of economic entities. Opportunities for limited disclosure of information are associated with possible losses of an economic nature or damage to the business reputation of the organization. In this regard, when preparing the notes to the accounting (financial) statements, the management of the organization should make a decision on the amount of information that will not only allow the disclosure of material information, but also ensure the observance of prudence and caution. The article presents an algorithm for forming a professional judgment about the limitation of the amount of reporting information. The material of the article is presented taking into account the current regulatory framework, orders of the Ministry of Finance and explanations of specialists.