Regulation of bookkeeping (financial) account in the Russian Federation

An operational system of regulation of bookkeeping (financial) account in the Russian federation is reviewed in this article, which consist of 4 levels, namely the legislative, regulatory, methodological and organizational. The subject of research are the features of the regulation of the accounting (financial) reporting on each of the four levels. The purpose of research - to assess the current practice of regulatory accounting (financial) statements. It was revealed that reforms are necessary in the current conditions in this area, as well as more active participation of business in the development of new standards.