scholarly journals International Financial Reporting Standards Implementation into the Russian Accounting System

2014 ◽  
Author(s):  
P.A. Aletkin
Keyword(s):  
Financial Reporting ◽  
International Financial Reporting Standards ◽  
Accounting System ◽  
Reporting Standards ◽  
Standards Implementation ◽  
Financial Reporting Standards

scholarly journals Financial statements of banking institutions under IFRS as the main element of accounting

2020 ◽  
pp. 38-40
Author(s):  
Liubov SHEVCHENKO ◽  
Maryna Trokhymivna SHENDRYHORENKO ◽  
Vitaliia LIADSKA
Keyword(s):  
Financial Reporting ◽  
Financial Statements ◽  
International Financial Reporting Standards ◽  
Main Element ◽  
Accounting System ◽  
Reporting Standards ◽  
Important Indicator ◽  
Financial Reporting Standards ◽  
Banking Institutions ◽  
National Bank

The paper consider the stage of preparation, functions and essence of the financial statements of banking institutions, as well as its purpose. It is established that a necessary condition for the operation of each bank is a unique accounting system. The most important indicator that reflects the activities of banking institutions and financial institutions, as well as information of internal and external users for financial decisions is the financial report. Effective bank management depends on the integrity, reliability and reliability of the information provided. The financial statements of each bank reflect the results of activities for the light period. The bank must prepare financial statements in accordance with the requirements of International Financial Reporting Standards and regulations of the National Bank of Ukraine and submit statistical reports on operations, liquidation, solvency, guidance and information. The effective functioning of the bank depends on various factors affecting its financial stability. All bank operations are exposed to risks, so customers, investors and their partners need certain guarantees of return on investment in banks. Especially important in modern conditions is the openness of all market participants, especially credit institutions. This is achieved by complete financial information about their activities. Notice of financial statements, which gives the participant a complete picture of financial stations, the results of its activities at the moment and in the future. Such information is easy to compare with the reporting data of foreign counterparties. The preparation of such reports should be regulated and enshrined in the legislation of Ukraine. However, now we have some discrepancies in the reporting of banks for IFRS in the requirements of the NBU and the requirements of the IFRS Committee. The paper examines the features of the financial statements, which are present banking institution, in accordance with International Financial Reporting Standards Reporting (IFRS) and requirements of the National Bank of Ukraine, differences between these requirements, as well as the benefits of the transition on IFRS for the banking sector and enterprises of Ukraine as a whole together with the problems of implementation in the Ukrainian banking system of International Financial Reporting Standards. The approach to the implementation of IFRS in banking institutions will ensure the creation of a new level of trust in potential partners, as well as attract foreign investment and loans, which will help solve national banking problems.

Institutional Characteristics of Market Economy in International Financial Reporting Standards

Auditor ◽  
2020 ◽  
Vol 6 (10) ◽  
pp. 48-52
Author(s):  
N. Mislavskaya
Keyword(s):  
Market Economy ◽  
Financial Reporting ◽  
Financial Statements ◽  
International Financial Reporting Standards ◽  
Institutional Characteristics ◽  
Accounting System ◽  
Reporting Standards ◽  
Methodological Issues ◽  
Financial Reporting Standards ◽  
Methodological Component

The article analyzes the influence of the fundamental characteristics of a market economy on the methodological component of International Financial Reporting Standards. On the basis of a comparative analysis of the principles of market and organization functioning, the causes of modern problems in the presentation of accounting (financial) statements are identified, and options for solving complex methodological issues are proposed. The author is inclined to the need to reform the accounting system on the principles of not copying, but adapting to International Financial Reporting Standards.

scholarly journals Accounting for Financial Investments in View of International and Local Financial Reporting Standards

2020 ◽  
Vol 31 (2) ◽  
pp. 437-462
Author(s):  
Ayad Jumaah Khalaf ◽  
Omar Mohammed Arkad
Keyword(s):  
Financial Reporting ◽  
Financial Statements ◽  
Business Environment ◽  
International Financial Reporting Standards ◽  
Accounting System ◽  
Reporting Standards ◽  
Financial Reporting Standards ◽  
Financial Investments ◽  
Accounting Rules ◽  
Similarities And Differences

The transformations in the business environment and the opening of markets have led to increased interest in financial investments to revive the national economy and with the emergence of international business and multinational companies، accounting work has become more extensive and complex، which requires improving local accounting standards and in line with international requirements، where the research problem is that Iraq is one of the countries It seeks to use accounting that is largely consistent with the international financial reporting standards through its keenness to apply the unified accounting system and accounting rules and that studying financial investments in the light of both international financial reporting standards and Iraqi accounting regulations and knowing and identifying similarities and differences between them can improve the process of increasing Harmony and increased compatibility Where the importance of research lies in improving the unified accounting system and the Iraqi accounting rules through which financial investments are accounted for and shown in financial statements and communicated to users of financial reports in a way that reflects on the enhancement of investment decisions، and with this the aim of the research is to identify financial investments in the light of each of the reporting criteria International and local financial and accounting treatments in addition to conducting a comparative analytical study to find out the similarities and differences between them and proposing the necessary basis and procedures to help increase harmony and consensus، as the two researchers used the theoretical side and the comparative analytical method based on the sources and references as well as the international and local financial reporting standards related to the research topic Also، tables and illustrations were used، many results were reached، the most important of which is a wide gap between international and domestic financial reporting standards in relation to accounting for financial investments. Financial statements، and among the recommendations of the researchers is the necessity to issue a separate accounting rule for financial investments and another rule for investments in real estate، as well as an accounting base for investment in associates and joint ventures in order to classify financial investments according to what came in the international financial reporting standards.

International Financial Reporting Standards: Going Concern Assumption

Auditor ◽  
2020 ◽  
Vol 6 (8) ◽  
pp. 60-65
Author(s):  
N. Mislavskaya
Keyword(s):  
Financial Reporting ◽  
Information Society ◽  
Critical Assessment ◽  
International Financial Reporting Standards ◽  
Accounting System ◽  
Reporting Standards ◽  
National Interests ◽  
Philosophical Foundations ◽  
Going Concern ◽  
Financial Reporting Standards

The article analyzes the philosophical foundations of scientific accounting knowledge - assumptions about the continuity of the organization. The relevance, the need for a critical assessment of the modern accounting paradigm in the formation of the information society, in the formation of which a certain role is assigned to accounting and accounting (financial) reporting, is substantiated and proved. The author is convinced of the need to reform the accounting system, taking into account national interests. It is proposed to begin this process by clarifying the underlying accounting assumption.

scholarly journals Information content of a sports undertaking’s statements serving different purposes – particularly with reference to the player rights

2015 ◽  
Vol 9 (1-2) ◽  
pp. 119-133
Author(s):  
Réka Szőke ◽  
Zoltán Bács ◽  
Ildikó Dékán Tamásné Orbán ◽  
Tamás Dékán
Keyword(s):  
Financial Reporting ◽  
Western Europe ◽  
International Financial Reporting Standards ◽  
Accounting System ◽  
Reporting Standards ◽  
Balance Sheets ◽  
Financial Reporting Standards ◽  
Property Income ◽  
The Difference ◽  
The Government

In the 21st century, sport is not just a fun, social cohesive force but also a business; it has become an independent industry by now and several countries possess developed sport markets. According to estimates, sport accounts for 4% of the EU’s GDP. The actuality of our research is given by the fact that the economic aspect of sports develops continuously which is also due to that more and more amounts already stream into sports in our days. In Hungary, sport is mainly state aided and has mostly financing problems while the sport businesses existing in the more developed Western Europe are principally sponsored by the private sector. The government considers sport as a strategic branch (HERCZEG et al, 2015) and manages as such because they see the international breakthrough potencies in sport as well. Sport companies must also adapt the business-based thinking, which requires the strategic planning and operation (BECSKY, 2011). The research covers the subject of economic approach of the players’ rights. The task of accounting is to give a true and fair image about the property, income and financial situation of an undertaking. Information provided by accounting is essential for both the management decisionmaking and the market operators. In Hungary, the sports undertakings, as each managing entity, have to prepare their statements according to the Act C of 2000 on Accounting (AoA.) (NAGY – BÁCSNÉ BÁBA, 2014). The purpose of this research is to examine how a domestic sports undertaking demonstrates the value of available players in the books and how the incomes and expenditures incurred with the players are accounted for, based on the regulations of the Hungarian, international associations and the Union of European Football Associations (hereinafter: UEFA). In order that the leaders of the businesses can make quick and appropriate economic decisions, it is essential in this intensively changing world that an enterprise should have a well-functioning accounting system based on up-to-date information. International Financial Reporting Standards (hereinafter: IFRS) are intended to provide the comparability across borders. Firstly, we deal with the accounting reporting system, both the Hungarian, international financial reporting standards and, relating to UEFA, the investigation of the intangible assets to a great extent during analysing the balance sheets. Then, we examine the income statements from the viewpoint player transfers. To what extent the rules of a statement laid down by UEFA differ from the ones of a statement prepared according to AoA? What is the difference in domestic and international relations? In this study, we search after the answers for questions mentioned before.

scholarly journals Barriers in Adoption of IFRS in Developed and Developing Economies: TIFS Framework

2019 ◽  
Vol 8 (4) ◽  
pp. 506-512
Keyword(s):  
Financial Reporting ◽  
Developing Economies ◽  
Qualitative Content Analysis ◽  
Research Work ◽  
Developing Nations ◽  
Multinational Companies ◽  
International Financial Reporting Standards ◽  
Accounting System ◽  
Reporting Standards ◽  
Financial Reporting Standards

Purpose- International Financial Reporting Standards (IFRS) has mustered enough attention from accountants, bankers, Multinational Companies, Government and social scientists, with many glorifying it over the antiquated financial reporting system. Despite the acceptance and all the initiatives; the execution of International Financial Reporting Standards have to encounter certain challenges, influencing its fruitful execution across developing nations. Moreover, no attempt has been made to create a conceptual framework for strengthening the existing research work. Methodology- The present research initiative underwent an indepth review of literature pertaining to the various barriers impeding the effective execution of International Financial Reporting Standards for understanding and managing the business affairs keeping a parity between the national and global accounting aspects. Scholarly papers were reviewed from standardized and peer-reviewed journals and open sources. Almost a total of 100 papers were ascertained, published between 2001 and 2019. The data-driven qualitative content analysis and Hermeneutics were used for defining 30 barriers. Findings- The 30 barriers were thematically assorted into 4 conceptual categories, i.e. Technological Infrastructure (T), Individual, (I), Financial Constraints (F) and Supportive Environment (S). These categories formed the foundation to conceptualize the ‘TIFS’ framework that depicts the unique aspects impeding the successful execution of International Financial Reporting Standards. The findings reflect that majority of the articles only acknowledged briefing of such challenges. Practical Implications- The proposed ‘TIFS’ framework provides a way for the accountants of Multinational Companies, Strategists, Software developers, business intellectuals and experts as well as researchers. It enables the multiple stakeholders to have a bird-eye-view of the various hindrances for execution of International Financial Reporting Standards in the developing nations. Originality/Value- The paper fulfills the requisite to have a welldefined framework, which summed up the present research pertaining to barriers for execution of International Financial Reporting Standards accounting system.

Pengaruh Konvergensi International Financial Reporting Standards (Ifrs) Terhadap Penghindaran Pajak(Tax Avoidance)

2018 ◽  
Vol 26 (2) ◽  
pp. 158-169
Author(s):  
Umi Wahidah ◽  
Sri Ayem
Keyword(s):  
Financial Reporting ◽  
Tax Evasion ◽  
Stock Exchange ◽  
Control Variable ◽  
Tax Avoidance ◽  
Sampling Technique ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Control Variables ◽  
Financial Reporting Standards

This research aimed to examine the effect of the convergence of International Financial Reporting Standards (IFRS) on tax avoidance on companies listed in Indonesia Stock Exchange. Tax avoidance that used in this research was Cash Efective Tax Rate (CETR). This research is also use the control variable to get other different influence that different such as CSR, size, and earning management (EM. This research used populations sector of transport service companies that listed in Indonesia Stock Exchange. The data of this research taken from secondary data that was from the Indonesia Stock Exchange in the form of Indonesian Capital Market Directory (ICMD) and the annual report of the company 2011-2015. The method of collecting sample was purposive sampling technique, the population that to be sampling in this research was populations that has the criteria of a particular sample. Companies that has the criteria of the research sample as many as 78 companies. The method of analysis used in this research is multiple regression analysis. Based on regression testing shows that the convergence of International Financial Reporting Standards (IFRS) has a positiveand significant impact on tax evasion. This shows that IFRS convergence actually improves tax evasion practices. The control variables of firm size and earnings management also significantly influence the application of IFRS in improving tax avoidance practices, while CSR control variables have no role in convergence IFRS in improving tax evasion practice.

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