Directions for reforming accounting and reporting of state institutions of higher education in Russia

The author discusses the vector of reforming accounting and reporting in the state-financed organisations, including the higher education sector in Russia. The state policy in the field of standardization of the public sector is mainly considered. Changes in the accounting and reporting of Russian higher education institutions related to the introduction of federal public finance accounting standards (FSBUGF) developed on the basis of the International Public Sector Financial Reporting Standards (IPSAS) are considered and analyzed. Based on the results of the analysis, conclusions were drawn about significant changes in the field of accounting and reporting in the public sector of Russia. The directions for its further reform were proposed, because there are still questions on the convergence of national and international standards that need to be resolved by amending the existing documents or adoption of new normative regulators in the public sector.