New accounting standard FAS 27/2021 "Documents and workflow in accounting": redefining the requirements for documents

Our team informs you about innovations in the activities of an accountant in 2021 – the new FAS 27/2021 “Documents and workflow in accounting” (approved by Order of the Ministry of Finance of Russia dated 04.16.2021 No. 62n). You should also pay attention to the Information message of the Ministry of Finance of Russia dated June 10, 2021 No. IS-uchet -33 “New edition of the rules on documents and workflow in accounting”, which should be paid attention to.

The essence of the new standard:

The standard clarified the requirements for the primary accounting document, in particular, it established clear rules for filling in and correcting, as well as requirements for the language and currency. Also, an updated procedure for storing documents was fixed,

You need to switch to the new standard no later than 01.01.2022. At the request of FAS 27/2021, it can be applied as early as 2021.

Below are some of the main provisions of the standard (p. 9 FAS 27/2021):

• When an economic entity compiles primary accounting documents, it is allowed to “draw up lasting facts of economic life (for example, interest accrual, depreciation of assets, changes in the value of assets and liabilities), as well as recurring facts of economic life (for example, delivery of goods, products in batches on different dates on one long-term agreement) by primary accounting documents drawn up at intervals (for example, day, week, month, quarter), determined by the economic entity based on the essence of the fact of economic life and the requirement of rationality, provided that they are compiled on the reporting date”;

• When an economic entity compiles primary accounting documents, it is allowed to “use as primary accounting documents drawn up or obtained in the course of the economic entity’s activity, in particular, to formalize its civil law relations with counterparties, employees, government agencies, to manage the economic entity (for example , agreement, cash register receipt, receipt of payment, advance report, judicial act, trade account), provided that these documents contain all the mandatory details of the primary accounting document established by the Federal Law “On Accounting.”

• Accounting, compiled on paper and (or) in the form of an electronic document, except for the cases established by the legislation of the Russian Federation. P.23, p.24 FAS 27/2021 “Accounting documents should be kept in the form in which they were drawn up … Translation of accounting documents drawn up on paper into electronic form for the purpose of subsequent storage is not allowed. “

Our team plans to include this topic in the next online seminar and will continue to inform you about the news in accounting. If you already have questions on the topic for the upcoming seminar, please send them to info@sterngoff.com.