Transition of the general government sector to the international standards of financial reporting.basic definitions and problems

In this article, the concept of the general government sector was considered in accordance with the legislation of the Russian Federation. Which organizations can be included in the legal field of this sector. Explanations were given of which financial transactions are accounted for in this sector. The analysis of differences with the notion of the public sector used abroad was carried out. In addition, the article identifies the main problems associated with the current reflection of financial activities in budget accounting. In addition, this article reflects the main advantages of the transition from Russian budgetary accounting to accounting in accordance with international financial reporting standards.