Home  Journals  International Accounting  15(309) - 2014 April

On expediency of use of the IAS 18 Revenue requirements when developing the federal accounting standards

Available online: 13 April 2014

Subject Heading: On the way to international standards

JEL Classification: 

Pages: 2-12

The RF federal standards of accounting are being developed in Russia nowadays. The International Financial Reporting Standards are obvious to become the basis of the Russian federal standards. For all the essential harmonization of the IFRS and RAS requirements during the reformation of the national account system, still there is a considerable difference between them. On the basis of a comparative analysis and review of the IFRS and RAS requirements for revenue accounting, the authors prove some IFRS requirements are not expedient to consider for the federal standards development.

Keywords: IFRS, federal standards, revenue, financial reporting

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