Features of Accounting for Financial Assets in Budgetary Institutions

The purpose of this article is to conduct a study of the features of accounting for financial assets in budgetary institutions. The theoretical significance of this article is that the refined approaches proposed by the authors to the definition of financial assets make it possible in the future to formulate a unified, legislatively fixed approach to the content of the definition considered in the article. The practical significance of the presented research is that the measures proposed by the authors aimed at improving the efficiency of managing the financial assets of budgetary institutions have been established, and if implemented, they will make it possible to convert funds into federal budget revenues, which in some cases are stored in personal accounts. The return of these assets to financial circulation by transferring them to state revenues will not only increase the economic efficiency of their use, but also bring a certain positive contribution to the development of the national economy. The conclusions obtained in the course of the study are as follows: scientific research related to the mechanism of accounting for financial assets in budgetary institutions is systematized, the features of its development in modern conditions are disclosed.