Problems of application of fair value in financial accounting

New FSBU (FSBU 25/2018, FSBU 5/2019, FSBU 6/2020, FSBU 26/2020 and FSBU 14/2022) for Russian commercial organizations (including healthcare organizations) introduce the use of fair value in domestic accounting cost. This assessment will have to be applied in a number of situations to account for leases, fixed assets, inventories, capital investments, intangible assets. At the same time, there is no standard in the system of Russian accounting standards that deals with the assessment of fair value. In this regard, the accounting standards mentioned above refer the user to the direct use of international standards containing regulations on the application of fair value. With the exception of FSBU 25/2018 “Lease Accounting”, which refers to IFRS 16 “Leases” and other international financial reporting standards, the rest of the new FSBU indicate the need to apply in Russian accounting to determine the fair value -sti of the international standard IFRS (IFRS) 13 “Fair Value Measurement”. This determines the relevance of studying the problems of using fair value in Russian accounting and using IFRS 13 regulations to determine its value. The results of the study complement the study of the problems of using fair value to evaluate accounting objects. The research methods were comparison, analysis, synthesis, grouping method, systemic and logical approaches. As a result of the research, the areas of application of fair value for accounting for lease transactions, inventory valuation, capital investments, fixed assets and intangible assets are systematized, scientific points of view on the assessment of objects at fair value are summarized. The results of the study reveal positive and problematic aspects of the application of IFRS 13 regulations and contain proposals for solving problematic issues of determining the fair value in Russian financial accounting.