Formation and analysis of simplified forms of accounting (financial) statements of small businesses

Today, small business is the most important sphere of market relations, being a necessary element of the competitive environment, small businesses fill the market with various goods and services, and create new jobs. Quite frequent changes and adjustments to regulatory acts and documents regulating the simplified procedure for accounting and reporting in the territory of the Russian Federation cause a huge number of controversial issues and situations. In recent years, small business has become increasingly introduced into the innovative process, which causes a problem in the transition of Russian organizations to international financial reporting standards, which contribute to improving the quality of accounting information. The purpose of this work is to study the features of the formation of simplified forms of accounting reporting of small businesses at the present stage. The objectives of the work are to consider the essence of the preparation of simplified financial statements in the territory of the Russian Federation, to analyze, developed on July 9, 2009 by the IFRS Council, a simplified standard of financial reporting for small business entities. The research methodology is based on a systemic and historical approach, statistical and comparative analysis. As a result, opportunities for applying international standards are identified, the formation of simplified accounting reports for small businesses is clarified.