Home  Journals  International Accounting  23(317) - 2014 June

Disclosures in the financial reporting of worker's compensation in accordance with IFRS requirements

Available online: 21 June 2014

Subject Heading: On the way to international standards

JEL Classification: 

Pages: 2-8

This article describes the kinds of remunerations and financial compensations paid to an employee in accordance with the requirements of international standards of financial reporting (IFRS). The authors identified problems of accounts of remunerations according to the international standards and the Russian regulations on accounting (Russian Accounting Standards) and they provide the recommendations on information disclosure in the financial statements taking into account the urgency of their payments by all kinds and forms of remuneration.

Keywords: financial reporting, employee benefits, long-term compensation, short-term interests, provisions, estimated liabilities

References:

1. Gavrikova I.А. Vyplachivaem premiiu po itogam goda [Paying of the annual bonus]. Zarplata – Salary, 2009, no. 1, pp. 99–116.
2. Endovitskii D.A. Finansovye rezervy organizatsii: analiz i kontrol' [The financial reserves of an organization: analysis and control]. Moscow, KnoRus Publ., 2007, 304 p.
3. Milkovich G. Sistema voznagrazhdenii i metody stimulirovaniia personala [Compensation]. Moscow, Vershina Publ., 2005.
4. Order of the Ministry of Finance “Accounting Regulations on estimated liabilities, contingent liabilities and contingent assets” of December 13, 2010 № 167n (RAS 8/2010). (In Russ.)
5. Accounting for employee benefits. Draft of the Federal standard. Official site of the Ministry of Finance. Available at: Link. (In Russ.)

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

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