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The paper provides the assessment of current standards of referring individuals and legal entities to the category of the small business. The changes of formal norms and regulations are analyzed, the latter regulating categorization of the small business subjects at various stages of development. The author points out historical and logical phases of the subject categories of small business in theRussian Federation.

The paper defines the role of institutionalism and its importance to the economy of the country. The definition of the term «accounting procedure» is given which is an essential element of institutionalism considering the needs of the current reality. The classification of the accounting procedures is proposed and characteristics of these procedures are given as well.