Research of Estimated Liabilities During the Audit of Accounting (Financial) Statements

Reporting Standards ◽

Financial Reporting Standards

The article discusses the estimated liabilities, their study and assessment in accordance with the provisions of Russian accounting standards (RAS) and International Financial Reporting Standards (IFRS).

Implementation of foreign practice of regulation and accounting and reporting in Russia

Courier of the Kutafin Moscow State Law University ◽

10.17803/2311-5998.2020.73.9.215-222 ◽

2020 ◽

pp. 215-222

Author(s):

N. Yu. Orlova

Keyword(s):

Comparative Analysis ◽

Financial Reporting ◽

Accounting Standards ◽

Financial Statements ◽

National Standards ◽

Reporting Standards ◽

Tax Reporting ◽

International Comparability

The reform of accounting and reporting in Russia began in the 1990s. The benchmark was taken on International Financial Reporting Standards, as many countries use these standards. IFRS have a number of advantages, such as simplicity, objectivity, international comparability. The author of the article gives the main problems, as a result of which, for almost thirty years, national standards have come very slightly closer to international ones. The author of the article gives the main problems, as a result of which, for almost thirty years, national standards have come very slightly closer to international ones. In the comparative analysis of accounting and the preparation of accounting and tax reporting according to Russian Accounting Standards (RAS) with International Financial Reporting Standards (IFRS), fundamental differences were revealed in the reflection of accounting objects in financial statements.

Response to the SEC’s Proposed Rule—Roadmap for the Potential Use of Financial Statements Prepared in Accordance with International Financial Reporting Standards (IFRS) by U.S. Issuers

Accounting Horizons ◽

10.2308/acch.2010.24.1.117 ◽

2010 ◽

Vol 24 (1) ◽

pp. 117-128 ◽

Cited By ~ 14

Author(s):

Mark Bradshaw ◽

Carolyn Callahan ◽

Jack Ciesielski ◽

Elizabeth A. Gordon ◽

Leslie Hodder ◽

...

Keyword(s):

Financial Reporting ◽

Accounting Standards ◽

Financial Statements ◽

Financial Accounting ◽

Reporting Standards ◽

Financial Accounting Standards Board ◽

Near Term ◽

Potential Use

SYNOPSIS: The Financial Reporting Policy Committee of the Financial Accounting and Reporting Section of the American Accounting Association (hereafter, the AAA FRPC or the committee) is charged with responding to discussion memoranda and exposure drafts on financial accounting and reporting issues. This response is to the SEC’s proposed rule, Roadmap for the Potential Use of Financial Statements Prepared in Accordance with International Financial Reporting Standards (IFRS) by U.S. Issuers. Based on a review of the literature, the AAA FRPC has concluded that a move to an international set of financial reporting standards is a desirable goal. We have also concluded that continued convergence of U.S. GAAP with IFRS by joint relations between the International Accounting Standards Board (hereafter, IASB) and the Financial Accounting Standards Board (hereafter, FASB) is preferable to near-term adoption of IFRS as a strategy for convergence.

Necessity And Main Directions Of Improving Financial Reporting In Uzbekistan

The American Journal of Management and Economics Innovations ◽

10.37547/tajmei/volume03issue05-10 ◽

2021 ◽

Vol 03 (05) ◽

pp. 61-67

Author(s):

Boronov Bobur Farkhodovich ◽

◽

Abdurasulov Jamshidbek Ahmad Ugli ◽

◽

...

Keyword(s):

Financial Reporting ◽

Accounting Standards ◽

Financial Statements ◽

Reporting Standards ◽

Financial Instruments ◽

National Accounting ◽

Accounting Rules

The article highlights the need to improve financial reporting, the regulations adopted in Uzbekistan in this regard. The purpose of the concept required for the transition to International Financial Reporting Standards (IFRS) in Uzbekistan and the tasks to be included in it have been developed, a series of national accounting standards are presented. It was noted that today the standards for financial instruments need to be improved. For the transition to IFRS, the terms related to the information reflected in the financial statements are given. The work to be done in Uzbekistan to introduce the terms and accounting rules for the information reflected in the financial statements.

Financial statement analysis

10.12737/textbook_5cfa59205f9890.46595973 ◽

2019 ◽

Author(s):

Мария Вахрушина ◽

Mariya Vakhrushina ◽

Ольга Антонова ◽

Ol'ga Antonova ◽

Марина Друцкая ◽

...

Keyword(s):

Financial Reporting ◽

Public Information ◽

Accounting Standards ◽

Financial Statements ◽

Legal Framework ◽

Reporting Standards ◽

Integrated Reporting ◽

The Impact

The textbook presents the basic theoretical, methodological and practical provisions of the discipline "Analysis of financial statements" in accordance with the state educational standard of higher education for the preparation of students in the direction of "Accounting, analysis and audit". The issues of analysis and evaluation of the financial situation and performance of the organization using practical data of individual and consolidated financial statements, statistical and tax reporting. The algorithms and practical calculations of analytical indicators are based on the principle of "through example". The textbook takes into account changes in the legal framework - the development of Federal accounting standards (FSBU). Federal law No. 160-FZ of 18 July 2017 clarifies the status of accounting regulations (PBU). PBU approved by the Ministry of Finance of Russia in the period from October 1, 1998 to January 1, 2013 are recognized as Federal accounting standards. At the same time a number of PBU changes. The textbook reflects the impact of legislative changes on the preparation and analysis of financial statements. The influence of international approaches to the disclosure of public information on the Russian practice of its presentation continues to grow. The textbook describes the changes in International financial reporting standards, taking into account their impact on the presentation and analysis of financial statements. The influence of international approaches to the disclosure of public information on the Russian practice of its presentation continues to grow. The textbook describes the changes in International financial reporting standards, taking into account their impact on the presentation and analysis of financial statements. Taking into account the strengthening of the position of integrated reporting in ensuring sustainable development of economic entities radically revised section of the textbook on the practice of its analysis. For students, postgraduates, teachers of economic specialties, students of the system of training and advanced training of accountants, auditors, specialists of financial and economic services.

Financial Statement according to National or International Financial Reporting Standards? A Decision Analysis Case Study from the Czech Republic at Industrial Companies

Engineering Economics ◽

10.5755/j01.ee.31.3.22715 ◽

2020 ◽

Vol 31 (3) ◽

pp. 270-281

Author(s):

Michal Krajňák

Keyword(s):

Czech Republic ◽

Financial Reporting ◽

Accounting Standards ◽

Financial Statements ◽

Reporting Standards ◽

The Czech Republic ◽

National Accounting ◽

Industrial Companies

Financial statements bring information about financial position, performance and changes in financial performance. These statements could be prepared in accordance with national accounting standards or in accordance with International Financial Reporting Standards. The scientific problem is to assess whether it is more beneficial to prepare financial statements according to national, transnational or both national and transnational accounting standards. Results show that it is more convenient to prepare financial statements only according to the legislation of national accounting standards. The advantage of this option is lower costs. However, the second best option, based on preparing financial statements according to International Financial Reporting standards, leads to higher quality, credibility and comparison of these statements. Options based on the gradual convergence of transnational and national accounting standards also do not represent an ideal situation. The utility of options is influenced by many criteria. The most important criterion according to the questionnaire survey is costs. The questionnaire survey was carried out in the year 2018 among 28 industrial companies in the selected region of the Czech Republic. The methods of description, analysis, synthesis, comparison and selected methods of multi-criteria decision-making are used in the article.

Methodological aspects of accounting of warranty provision in accordance with international financial reporting standards

Economics Entrepreneurship Management ◽

10.23939/eem2020.02.022 ◽

2020 ◽

Vol 7 (2) ◽

pp. 22-32

Author(s):

T Davydiuk ◽

◽

S Syrtseva ◽

V Endres ◽

V Nadraga ◽

...

Keyword(s):

Financial Reporting ◽

Methodological Approach ◽

Accounting Standards ◽

Scientific Work ◽

Financial Statements ◽

Reporting Standards ◽

Advantages And Disadvantages ◽

Methodological Aspects

In order to ensure that warranty repair and maintenance costs are included evenly in accordancewith National Accounting Standards and International Financial Reporting Standards, entities are entitled to create provisions under warranty. Creation of such provisions allows to adjust the income and expenses for warranty repair and maintenance and to reasonably distribute expenses between the reporting periods, which helps to optimize the tax burden. The purpose of the article is to review the methodological aspects of accounting of warranty provisions in accordance with International Financial Reporting Standards.The achievement of the stated goal necessitated the following tasks: to disclose the nature and conditions of recognition of provisions for warranty in accordance with international accounting standards; to present the methodology for accounting in the accounting and tax accounting and financial statements of the provision for warranty in accordance with IFRS; to propose methods of calculating the warranty provisions to determine their main advantages and disadvantages. The main general scientific methods of research were the analysis (for conducting the research of the main essential characteristics of the research object and peculiarities of its functioning in the context of the topic of scientific work). Analogy method, dialectical method and systematicapproach were used to reflect the methodological approach to accounting and to show in the financial statements the provisions for warranty. Comparison method was used for evaluating the techniques for calculating warranty provision for entities that prepare IFRS financial statements.

Implementation IFRS in Russia

Auditor ◽

10.12737/1998-0701-2020-23-26 ◽

2020 ◽

Vol 6 (5) ◽

pp. 23-26

Author(s):

S. Puchkova ◽

T. Tkachenko

Keyword(s):

Financial Reporting ◽

Accounting Standards ◽

Financial Statements ◽

Reporting Standards ◽

Financial Reporting Standards

This article is devoted to the transition of Russia to International Financial Reporting Standards and the development on their bases of Russian Federal Accounting Standards. Th e article covers the key institutions’ activity involved in the implementation of IFRS in Russia. Approved standards have a great impact on the quality of the presented financial statements, its comparability and usefulness.

The Practice Of Preparing Financial Statements On The Basis Of IFRS

The American Journal of Management and Economics Innovations ◽

10.37547/tajmei/volume03issue01-11 ◽

2021 ◽

Vol 03 (01) ◽

pp. 47-50

Author(s):

Hayrulla Karimovich Sheraliev ◽

Keyword(s):

Financial Reporting ◽

Accounting Standards ◽

Financial Statements ◽

Reporting Standards ◽

National Accounting ◽

Multi Stage ◽

Business Entities

IFRS regulates the preparation of financial statements, and the standards reflect only the rules for the preparation of financial statements in accordance with IFRS. The transfer of banks’ financial statements from National Accounting Standards (NAS) to International Financial Reporting Standards (IFRS) is a multi-stage and time-consuming procedure. Thus, the standards define and define the issues of recognition, measurement and publication of various reporting items in all business entities, including banks. Therefore, it is necessary to study the methods of preparation of financial statements in accordance with IFRS and in practice to choose the most appropriate of these methods for the bank.

Composition and characteristics of the financial statements elements in accordance with IFRS

Buhuchet v zdravoohranenii (Accounting in Healthcare) ◽

10.33920/med-17-2005-04 ◽

2020 ◽

pp. 36-42

Author(s):

Mohammad Tariq Jassim

Keyword(s):

Financial Reporting ◽

Financial Statements ◽

International Accounting ◽

Reporting Standards ◽

Current Trends ◽

Similarities And Differences ◽

Qualitative Characteristics

In a market economy, the role of International Financial Reporting Standards is increasing. In order to understand their significance in modern conditions it seems necessary to consider the peculiarities of evolution of IFRS formation. The article reflects actual issues concerning the role and significance of International Accounting and Reporting Standards in modern conditions. The author has defined the necessity of applying International Accounting and Reporting Standards by Russian companies. The article highlights the main elements and users of financial statements prepared on the basis of IFRS, and analyzes the similarities and differences that exist in the formation of financial statements, based on the requirements of IFRS and RAS. The main qualitative characteristics of financial statements are considered in detail. Based on the results of the research, the author has identified current trends in the transition to international financial reporting standards.