Nowadays the most urgent issue for the Russian society is bringing the existing accounting system in correspondence with the market economy requirements and international standards. To follow this procedure the information should be uniform, that is to be made according to common norms and principles. In the given article there has been made an attempt to review the main principles of recording of operations with long-dated and short-dated bills according to home and foreign accounting standards, namely to the American and international standards. As the American accounting standards are fully compatible with the international ones, and GAAP contain more detailed accounting methodology concerning some issues, more attention has been paid to the American accounting standards. The article describes the order of record of interest and discountable bills.

In the conclusion the main divergences in valuation and record methods in accounting of long-dated and short-dated bills are summarized.