TRANSFORMATION OF RUSSIAN ACCOUNTING IN ACCORDANCE WITH IFRS: HISTORICAL ASPECT
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Author(s): | Ermakova O. V., |
| Number of journal: | 4(69) | Date: | November 2024 |
| Annotation: | The reformation (and in fact, the formation) of accounting in Russia begins in the 90s of the last century. Under the influence of global trends, the Ministry of Finance of the Russian Federation has taken a course to introduce the principles of IFRS into domestic practice. The new federal accounting standards being issued are completely based on analogous IFRS. Work on writing draft standards and discussing them is carried out in accordance with the program adopted by the Ministry of Finance of the Russian Federation, which is updated every 2 years, constantly pushing back the release date of the next FSB. At the beginning of this century, adherence to international principles was obvious and indisputable. Russia has moved to building a market economy, which required the creation of a new actual system of economic indicators characterizing the development of the country, which entailed the construction of a new accounting and statistics system. The accession to the WTO and the strengthening of our country’s positions in this union could not take place without the standardization of accounting according to international principles. After entering global markets, Russian companies began to prepare consolidated financial statements in accordance with IFRS under the influence of market requirements. However, recent economic and political events have called into question the relevance of further transformation of Russian accounting toward its compliance with IFRS. The standards produced are difficult to apply because they do not contain as detailed instructions as their international counterparts; they do not meet the needs of the Russian economy; they are redundant and complex. All these events are systematized and analyzed in the article, as a result of which five historical factors are identified that determine the popularity and relevance of international standards in our country. | ||
| Keywords: | accounting transformation, International Financial Reporting Standards / IFRS, federal accounting standards, accounting standards, influence of IFRS, history of Russian accounting, convergence with IFRS, accounting system, bookkeeping reform program, consolidated financial statements, accounting reform program |
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| For citation: | Ermakova O. V. Transformation of Russian accounting in accordance with IFRS: historical aspect. Biznes. Obrazovanie. Pravo = Business. Education. Law. 2024;4(69):130—135. DOI: 10.25683/VOLBI.2024.69.1152. |
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