Analysis of the main innovations of FAS 14/2022

Abstract

The Ministry of Finance of the Russian Federation approved a new Federal Accounting Standard (FAS) for non-state sector organizations (including healthcare organizations in this sector) 14/2022 “Intangible Assets” (hereinafter FAS 14/2022). This standard makes significant adjustments to the accounting rules for the above assets. These changes will enter into force without fail from 2024, but early application of FAS 14/2022 is also allowed by decision of the organization. To prepare for future innovations, accountants, management of organizations, as well as teachers, students and many other participants in public relations need to analyze these innovations now. Such an analysis is carried out in this article. When carrying out research, such methods as comparison, grouping method, analysis and synthesis, analogy method, systematic approach, logical approach were used. As a result of the research, the main innovations of FAS 14/2022 were identified, analyzed and combined into five large groups. In addition, this article identifies the most important problems that arise in this area, and formulates proposals for their solution. The results presented in this paper will help modern organizations in the non-state sector (including healthcare organizations in this sector) to prepare in advance for the above changes and easier to go through the process of adaptation to the new requirements of FAS 14/2022. In addition, the results obtained in this article will be useful to a wide range of readers interested in the problems of domestic accounting, including accounting for intangible assets, and can also be used in the educational process of higher educational institutions and in the development and improvement of relevant regulatory documents on accounting.