Impact of Financial Accounting Standards on the Recognition of Intangible Assets in the Balance Sheets of Russian Companies

The impact of the enactment of RAS 14/2022 «Intangible Assets» on the recognition of intangible assets (IA) on the balance sheets of Russian public companies was investigated. It is shown that on average, IA as a percentage of assets on the balance sheets according to RAS is under 2%; at the same time, it is about 1% in the sectors of the real economy, and 7-10% in high-tech industries. In 2024, in general, the share of IAs on balance sheets increased compared to 2023, which is associated both with the transition to their accounting according to RAS 14/2022 and with the general growth of innovative and investment activity of companies. In the consolidated statements of groups of companies under IFRS, the level of intangible assets is 2-2.5 times higher than in the statements under RAS. Differentiation by industry remains, with a higher level of IA in Internet and IT services, medicine and biotechnology, and communications. The IFRS balance sheets are dominated by software, trademarks, capitalized development costs, licenses. It is expected that the state policy of stimulating business innovation along with improving accounting practices will lead to an increase in IAs in balance sheets and their fair recognition.