The Impact of the Adoption of FAS 14/2022 on Business Accounting Processes

Abstract

From 2024, Federal Accounting Standard (FAS) 14/2022 will come into force and will become mandatory, significantly changing the rules for accounting for intangible assets. In this regard, the purpose of this research is to conduct a detailed analysis of the new regulations provided for in this document and determine their impact on business accounting processes. In the course of the work, Russian and international standards relating to the accounting of intangible assets, as well as domestic accounting practice, were critically assessed, the main problems associated with the application of FAS 14/2022 were identified, and proposals for their solution were presented. The results of this research may be useful to a wide range of readers interested in issues of modern accounting and reporting, as well as accounting employees of organizations (including universities) and other specialists involved in the formation and improvement of regulatory documents on accounting.

Keywords

• intangible assets
• fas
• valuation
• fair value
• accounting processes