Approaches to the Organization of International Accounting in Russian Enterprises

• Main Authors: Ekaterina V. Surkova, Galina A. Skachko, Larisa K. Nikandrova, Maria M. Starkova, Nina F. Sakharova
• Format: Article
• Language: English
• Published: UIKTEN 2021-02-01
• Series: TEM Journal
• Subjects: ifrs; ras; reporting transformation; consolidated reporting; international accounting; parallel accounting method; translation method
• Online Access: http://www.temjournal.com/content/101/TEMJournalFebruary2021_249_258.pdf
• ISSN: 2217-8309; 2217-8333

The article discusses current issues of transformation of accounting information in accordance with international financial reporting standards (IFRS). This study is primarily aimed at developing approaches that determine the need for Russian enterprises to provide accounting information comparable at the international level. The authors analyze methods of transferring data from the Russian Accounting Standard (RAS) to IFRS. The methods used to form financial statements in accordance with IFRS are discussed. The issues of the application of these methods, as well as their advantages and disadvantages, are discussed. The author's approach to the selection of the optimal method of transformation is proposed taking into account the individual needs of organizations.