Home  Journals  International Accounting  43(193) - 2011 November

Formation of estimated obligations according to the Russian Statement of Accounting Practice (SAP) and the International Financial Reporting Standards (IFRS)

Available online: 23 November 2011

Subject Heading: ON THE WAY TO THE INTERNATIONAL STANDARDS

JEL Classification: 

In the article it is justified application of terms and concepts in Russian accounting practice according to IFRS (International Financial Reporting Standards) 37 “Estimated obligations, conditional obligations and conditional actives”. Application of SAP (Statement of Accounting Practice) 8/2010 “Estimated obligations, conditional obligations and conditional actives” should allow the organizations to generate necessary obligations (reserves) under certain kinds of activity and thus to generate the authentic financial reporting.

Keywords: estimated obligations, estimated reserves, size of the estimated obligation, accounting reporting

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

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