Home  Journals  International Accounting  16(166) - 2011 April

The use of MBS in the transformation of Russian statements in statements prepared in accordance with IFRS

Available online: 19 April 2011

Subject Heading: REFORMING OF THE REPORTING

JEL Classification: 

The paper considers the standards applied during the transformation of IAS 29 «Financial reporting in hyperinflationary economies « and IFRS 1 «First-time Adoption of International Financial Reporting Standards, as amended in 2009». The author is a practical example shows the procedure for converting balance sheet items accounting for hyperinflation.

Keywords: transformation of Russian accounting, Generally Accepted Accounting Principles (GAAP), Full conversion, Phased conversion, Opening balance, Accounting policies

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ISSN 2311-9381 (Online)
ISSN 2073-5081 (Print)

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