Transformation of accounting methods in state institutions

This article is devoted to the transformation of accounting methodology in state institutions in accordance with federal standards applicable for accounting and reporting since 2019. The article deals with the legal peculiarities, as well as the specifics of the activities of the state institutions. The first federal standards introduced in 2018, as well as the distribution of application of other standards in the future, are given. The main provisions of the following federal standards for the public sector are considered: «Accounting policy, estimated values and errors», «Events after the reporting date», «Revenues», «Cash flow report», «Impact of changes in foreign exchange rates».