Home  Journals  International Accounting  5(203) - 2012 February

Accounting errors correction according to russian and international regulations

Available online: 30 January 2012

Subject Heading: PROBLEMS OF THE ACCOUNT

JEL Classification: 

An algorithm for errors correction in accounting and financial statement according to Russian accounting standards is presented. A parallel between Russian and international guidelines is made. There are differences in the category «error» identification (IFRS deal only with prior period errors), as well as in the procedure of error correction (IFRS regulate only financial statement errors correction procedure and its disclosure, unlike Russian standards, which in addition describe the procedure of errors correction accounting).

Keywords: accounting errors, prior period errors, materiality, prospective application, retrospective application

View all articles of issue

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

Journal current issue

Vol. 27, Iss. 4 April 2024

Archive