Abstracting and IndexingРИНЦReferativny Zhurnal VINITI RAS Worldcat Google Scholar Online availableEastvieweLIBRARY.RU Biblioclub |
Assessing the prospects for application of IFRS for small and medium-sized businesses in Russia
Available online: 21 November 2013 Subject Heading: ON WAY TO THE INTERNATIONAL STANDARDS JEL Classification:
In connection with reforming the Russian accounting system according to IFRS, acquaintance with new standards is considerable interest for researchers and practitioners, from the point of view of accounting development prospects and the reporting for small and medium-sized enterprises. In this article the main simplifications of IFRS for small and medium-sized business concerning recognition and an assessment of assets and obligations, the income and expenses, requirements for representation and information disclosure were considered. In article the main merits and demerits of these standard and also key problems connected with transition to a new reporting form are identified. It is concluded that application of IFRS for small and medium-sized business in Russia will simplify preparation process of the reporting by the nonpublic companies, which also will have an opportunity to make financial statements with smaller expenses and shorter term. Keywords: small and medium-sized business, financial instruments, investment |
ISSN 2311-9381 (Online)
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