FORMATION OF CONSOLIDATED FINANCIAL STATEMENTS OF STATE CORPORATIONS SECTOR AS BASIS FOR IMPLEMENTATION OF STRATEGIC FINANCIAL GOALS

Abstract

Article substantiates the need for public corporations to form not only consolidated financial statements, but also non-financial reports that disclose the achievement of Sustainable Development Goals (ESG) as a necessary condition for monitoring the fulfillment by public sector companies of their mission and strategic goals related to the fulfillment of national objectives. Author also analyzed the consolidated financial statements of some state corporations of Russian Federation for their transparency and compliance with main goals of long-term development of companies, as well as the possibility of using it to control the targeted use of allocated budget funds. Study describes the main features of formation of consolidated financial statements by public sector enterprises and suggests the main directions for improving this process.