scholarly journals HARMONIZATION OF UKRAINIAN ACCOUNTING AND FINANCIAL REPORTING STANDARDS IN ACCORDANCE WITH THE ACCOUNTING DIRECTIVE (2013/34/EU) REQUIREMENTS

2014 ◽  
Vol 9 (1) ◽  
pp. 290-294
Author(s):  
Svitlana Zubilevych
Keyword(s):  
Financial Reporting ◽  
Financial Statements ◽  
Reporting Standards ◽  
Consolidated Financial Statements ◽  
Association Agreement ◽  
Financial Reporting Standards ◽  
Current Classification ◽  
The Eu

The paper considers the possible impact of the Directive 2013/34/EU on the annual financial statements, consolidated financial statements and related reports of certain types of undertakings on reporting in Ukraine with reference to signing the EU-Ukraine Association Agreement. The author then suggests possible changes in the current classification of companies, formats and components of financial statements, as well as accounting methods.

scholarly journals The influence of culture on disclosures in financial statements prepared under International Financial Reporting Standards

2019 ◽  
Vol 2019 (101 (157)) ◽  
pp. 111-132 ◽  
Author(s):  
Jerzy Gierusz ◽  
Katarzyna Koleśnik
Keyword(s):  
Financial Reporting ◽  
Comparative Studies ◽  
Financial Statements ◽  
Arab Countries ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Consolidated Financial Statements ◽  
Financial Reporting Standards ◽  
Financial Disclosures ◽  
The Impact

The primary objective of this article is to investigate the impact of culture (as measured by Hofstede) on disclosures in financial statements prepared under International Financial Reporting Standards (IFRS) by firms from different countries. The sample comprises 2011−2013 consolidated financial statements of stock companies (excluding banks, insurance, and other financial institutions) from four countries repre- senting different cultural areas: the United Kingdom (Anglo), Germany (Germanic), Poland (Central Eastern Europe; CEE) and Kuwait (Arab). The research material came from 312 annual consolidated financial statements from 104 companies. The results reveal that cultural values have a significant impact on financial disclosures even after the use of IFRS. The paper is one of the few comparative studies attempting to assess the effects of culture on financial disclosures in Western Europe countries, CEE countries and Arab countries. Most of the international comparative studies in this research area have neglected CEE and Arab countries.

scholarly journals TAX RISKS IN THE OIL AND GAS SECTOR OF THE RUSSIAN ECONOMY 

2019 ◽  
Author(s):  
А.Х. Цакаев ◽  
А.Р. Батукаева
Keyword(s):  
Financial Reporting ◽  
Oil And Gas ◽  
Financial Statements ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Consolidated Financial Statements ◽  
Financial Reporting Standards ◽  
Russian Economy ◽  
Oil And Gas Companies ◽  
Oil And Gas Sector

Представлены результаты оценки налогового риска ПАО НК Роснефть , ПАО Газпром и ПАО ЛУКОЙЛ согласно общедоступным критериям самостоятельной оценки рисков для налогоплательщиков Концепции планирования выездных налоговых проверок, исходя из данных консолидированной финансовой отчетности, подготовленной в соответствии с международными стандартами финансовой отчетности, позволившие сделать вывод о предложении по преобразованию данной Концепции под международные стандарты финансовой отчетности. Сформулированы предложения по обеспечению снижения уровня налоговых рисков в деятельности российских нефтегазовых компаний Results of assessment of tax risk of PJSC Rosneft, PJSC Gazprom and PJSC Lukoil according to public criteria of independent risk assessment for taxpayers of the Concept of planning of exit tax audits, proceeding from data of the consolidated financial statements prepared according to International Financial Reporting Standards, allowed to draw a conclusion on the offer on transformation of this Concept under International Financial Reporting Standards are presented. Offers on ensuring decrease in level of tax risks in activity of the Russian oil and gas companies are formulated.

IFRS Adoption in the EU and the Challenge of Nomenclature Evidence from the UK, France, and Germany

2016 ◽  
pp. 134-143
Author(s):  
Matthias Nnadi ◽  
Sailesh Tanna
Keyword(s):  
Financial Reporting ◽  
Balance Sheet ◽  
Financial Statements ◽  
Stock Exchanges ◽  
The European Union ◽  
Consolidated Financial Statements ◽  
Financial Reporting Standards ◽  
Ifrs Adoption ◽  
The Uk ◽  
The Eu

Since the adoption of International Financial Reporting Standards (IFRS) and the subsequent directive by the European Union (EU), all companies operating in the EU are required to report their consolidated financial statements in line with the IFRS. This study examines the consolidated financial statements of the top 170 listed companies in three major EU stock exchanges (UK, France and Germany) and uncovered a disparity in the use of common nomenclatures. The findings reveal that the inconsistencies in the application of terminologies such as statement of financial position instead of balance sheet and sequence of arrangement of assets in order of liquidity constitute the main differences for entities operating in the three countries. Such differences pose an imminent challenge in the comparability and interpretation of financial results.

scholarly journals PROCEDURES FOR PREPARATION OF CONSOLIDATED FINANCIAL STATEMENTS

2021 ◽  
pp. 217-226
Author(s):  
Лэйля Камаровна Мусипова
Keyword(s):  
Financial Reporting ◽  
Financial Statements ◽  
Reporting Standards ◽  
Consolidated Financial Statements ◽  
Reporting Standard ◽  
International Financial Reporting Standard ◽  
Financial Reports ◽  
Financial Reporting Standards ◽  
Business Structures ◽  
Performance Results

Помимо обычной финансовой отчетности некоторые предприятия Казахстана обязаны формировать и предоставлять консолидированную финансовую отчетность согласно требованиям международных стандартов финансовой отчетности. Статья посвящена особенностям составления и представления консолидированной отчетности в соответствии с международным стандартом финансовой отчетности 10 (IFRS) «Консолидированная финансовая отчетность». Целью исследования является рассмотреть понятие консолидированной отчетности, требования по ее составлению, порядок формирования и провести анализ потребность в составлении и представлении консолидированной финансовой отчетности. Наряду с этим представлена практика полной консолидации на условном примере с учетом требований международных стандартов финансовой отчетности, а также проблемы, с которыми сталкиваются представители бизнес-структур при формировании и представлении консолидированной финансовой отчетности. Научная новизна полученных результатов заключается в разработке приемов и методов составления и совершенствования консолидированной отчетности, которая позволит преодолеть сложности при формировании результатов деятельности за определенный отчетный период группы в целом. Along with the standard financial reports, some enterprises in Kazakhstan are required to form and submit consolidated financial reports in accordance with the requirements of international financial reporting standards. The article is devoted to the peculiarities of creating and presenting consolidated financial reports in accordance with International Financial Reporting Standard 10 (IFRS) «Consolidated Financial Reporting». The aim of the study is to examine the concept of consolidated financial statements, the requirements for its formation, and the analysis of the need for the preparation and presentation of consolidated financial statements. In addition, the practice of full consolidation was studied and presented on the example of all the consolidation requirements of IFRS 10 (IFRS) «Consolidated Financial Reporting», as well as various issues business structures deal with during the process of formation and presentation of consolidated financial statements. The scientific novelty of the results obtained is the development of techniques and methods for the preparation and improvement of consolidated reporting, which makes it possible to overcome the complexity of the formation of performance results for a certain reporting period of the group as a whole.

scholarly journals Disclosure of Subsidiaries with Non-controlling Interest in Accordance with IFRS 12: Case of Materiality

2016 ◽  
Vol 64 (1) ◽  
pp. 275-281 ◽  
Author(s):  
Tereza Gluzová
Keyword(s):  
Financial Reporting ◽  
Value Relevance ◽  
Stock Exchange ◽  
Financial Statements ◽  
Parent Company ◽  
Reporting Standards ◽  
Consolidated Financial Statements ◽  
Financial Reporting Standards ◽  
Disclosure Requirements ◽  
Definition Of

Consolidated financial statements present aggregated information for parent company and its subsidiaries. For non-wholly owned subsidiaries, International Financial Reporting Standards require non-controlling interest to be presented within consolidated equity to distinguish it from the amount of equity attributable to the shareholders of the parent. Since 2014, new standards on consolidation introduced broadened disclosure requirements for subsidiaries with material non-controlling interest. Definition of material non-controlling interest however is not included in the standards. The article provides the analysis of the financial statements published by companies listed on Prague Stock Exchange. Main focus is given to assessment criteria applied to identify material non-controlling interest. Consequently, study of compliance with the disclosure requirements for selected companies has been undertaken. The results of the analysis indicate whether value relevance of financial statements has been improved as a result of the new disclosures.

International Financial Reporting Standards

2021 ◽  
Author(s):  
Viktor Get'man ◽  
Ol'ga Rozhnova ◽  
Svetlana Grishkina ◽  
Vera Sidneva ◽  
Mihail Litvinenko ◽  
...  
Keyword(s):  
Financial Reporting ◽  
Financial Statements ◽  
Cash Flows ◽  
International Financial Reporting Standards ◽  
Federal State ◽  
Reporting Standards ◽  
Consolidated Financial Statements ◽  
Financial Reporting Standards ◽  
Statement Of Cash Flows ◽  
State Educational

The textbook analyzes the system of international financial reporting Standards (IFRS): its principles, formation, advantages and feasibility of implementation. All IFRS are considered: presentation of financial statements; inventories; statement of cash flows; accounting policies, changes in accounting estimates and errors; contracts, etc. The financial lease is also reflected in the lessee's statements under RAS and IFRS, etc. Meets the requirements of the federal state educational standards of higher education of the latest generation. For students studying in the areas of "Economics" and "Management", as well as for everyone who wants to improve their level in the field of preparing consolidated financial statements.

scholarly journals The Methods and evaluation of RIC Integrated Business Indicators

2019 ◽  
Vol 8 (10) ◽  
pp. 1889-1894
Keyword(s):  
Financial Reporting ◽  
Institutional Analysis ◽  
Financial Statements ◽  
Reporting Standards ◽  
Consolidated Financial Statements ◽  
Financial Situation ◽  
Financial Reporting Standards ◽  
Express Analysis ◽  
Key Indicators ◽  
Coefficient Method

In the conditions of transition to international financial reporting standards (hereinafter – IFRS), the issues of developing a methodology for analyzing of the Russian consolidated financial statements, prepared in accordance with the requirements of the international format, are of particular relevance. In order to develop a methodology for analyzing of consolidated financial statements, the authors developed key indicators RIC of integrated business, based on the application of institutional analysis, as well as the coefficient method of relative indicators. The key RIC indicators, presented in the article, are intended to perform express analysis of consolidated financial statements, since they will provide a basic picture of the financial situation of a group through a series of simple calculations. The research results can be used in the transformation of statements, as well as in the construction of consolidated financial statements, generated in Russia in accordance with the IFRS requirements

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

2020 ◽  
pp. 36-42
Author(s):  
Mohammad Tariq Jassim
Keyword(s):  
Financial Reporting ◽  
Financial Statements ◽  
International Financial Reporting Standards ◽  
International Accounting ◽  
Reporting Standards ◽  
Financial 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.

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