International Accounting

An institutional approach to the regulation of accounting in micro-sized business

Vol. 21, Iss. 7, JULY 2018

Received: 1 June 2018

Received in revised form: 6 June 2018

Accepted: 8 June 2018

Available online: 16 July 2018


JEL Classification: M40, M41, M48

Pages: 746–758

Krupinova E.S. National Research Lobachevsky State University of Nizhny Novgorod, Nizhny Novgorod, Russian Federationv

ORCID id: not available

Importance This article considers and discusses the issues of formation of a qualitative institutional environment of activities of micro-enterprises as a category of small business entities.
Objectives The article aims to substantiate the institutional approach in regulating the accounting activities of micro-enterprises.
Methods For the study, I used the methods of comparison, analysis, synthesis, induction, deduction, and grouping. International Financial Reporting Standards, Russian Accounting Standards, and scientific publications on the subject are the methodological and information base of the study.
Results The article justifies the necessity of introduction of the Federal Standard on micro-business accounting in the domestic accounting practice. It formulates the basic principles for the creation of such a document based on the techniques used in the development of the International Financial Reporting Standards for Small and Medium-sized Enterprises.
Conclusions The development of the Federal Standard on micro-business accounting will help form a qualitative institutional environment of micro-business operation in the Russian Federation. Introduction of such a standard in accounting practice can legally support micro-enterprises' accounting. The results of the study can be used to develop the theory and practice of accounting.

Keywords: micro-sized enterprise, simplification, legal regulation


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