Abstract:
IFRS became global standards of the financial reporting last years, process of convergence IFRS and national GAAPs is going. However, Russia always was the country with specific historical destiny. Accounting reforms in Russia come in special way. It is process transition from the Soviet accounting system in planned economy to the system in market economy. The paper deal with review of accounting reform, which took place during 1992-2014 years. This reform showed that Russia has not just copied IFRS but it has chosen the way of reasonable and prudent their application. The essence of this approach is following: convergence with IFRS and RAS: the financial statements are drawn up in accordance with RAS which in turn are developed under IFRS; introducing a mandatory requirement of drawing up consolidated statement under IFRS, as well as its mandatory audit and publication: consolidated financial statements of public companies are formed under IFRS. This paper review real applications IFRS in Russia de-jure and the de-facto. It is drawn conclusion that influence of IFRS methodology affected to accounting and, as a consequence, on its analysis. We have concluded that the main changes in national standards consist in appearance of professional judgment and economic interpretation of economic life facts. In the paper shows influence of IFRS adoption in Russia on conceptual framework of financial reporting: assets, liabilities, capital, income, expenses, and others.
