Subject This article discusses the issues related to the conceptual framework in the field of accounting of financial instruments. Objectives The article aims to provide recommendations for solving problems related to the formation of the mentioned framework. Methods For the study, we used the methods of critical analysis, synthesis, comparison, observation, and the analog approach. Results The article presents certain results of research of the regulations of Russian and international standards and analysis of approaches to the interpretation of the notions Financial Instruments, Financial Assets, Financial Liabilities, Equity Instruments, and Financial Derivatives in the scientific literature. It reveals significant problems in the interpretation of the mentioned concepts in the IFRS system and the lack of their regulations in the system of Russian accounting standards. We offer our own approaches to form a conceptual construct in the field of accounting of financial instruments of organizations. Conclusions and Relevance Since there are significant differences in interpreting the conceptual framework in the field of accounting of financial instruments, it is necessary to develop it for the Russian Federal Standard Financial Instruments. It should be adopted in accordance with the Russian Federal Accounting Standards Development Program. The results obtained have both practical and theoretical spheres of application in the field of financial accounting.
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