Petrov A.M.Financial University under Government of Russian Federation, Moscow, Russian Federation palmi@inbox.ru
Lymar' M.P.Financial University under Government of Russian Federation, Moscow, Russian Federation lymarm@mail.ru
Importance The research analyzes disclosure of notes to financial statements in Russia and China. This research continues a series of articles reviewing the specifics of accounting in both countries, differences in main forms of financial statements, etc. Objectives The research identifies the specifics of preparation and contents of notes to financial statements, analyzes them in terms of their compliance with International Financial Reporting Standards (IFRS), and reviews their information value for users. Methods Information on items under study was obtained by comparing the main provisions of legislative regulation, and on the basis of theoretical views of researchers, and our own comparative charts. Results As a result of the analysis, we systematized the main requirements to content of notes to financial statements in Russia, China and in accordance with recommendations to IFRS for ordinary entities and small businesses. Conclusions and Relevance Upon comparison of two systems, we find out that the Chinese entities disclose notes to their financial statements in general, while the Russian ones provide more specific information in them. However, the Chinese financial statements tend to IFRS more than the Russian ones. Financial statements of leading entities in both countries are the main source of information on business activities of entities, financial results and development prospects. The outcome of the research may be used to develop a reporting system of joint Russian-Chinese ventures in trade, investment and other. The materials herein may also be utilized for educational purposes.
Keywords: China, Russia, accounting, financial statements, notes to financial statements
References:
The Seventh Council Directive 83/349/EEC of 13 June 1983 on consolidated accounts. Official Journal, 1983, no. L193.
Kuznetsova E. Primechaniya k otchetnosti: kak pravil'no predstavit' nuzhnuyu i poleznuyu informatsiyu [Notes to financial statements: how to present relevant and useful information]. MSFO na praktike = IFRS in Practice, 2011, November, no. 5. Available at: Link. (In Russ.)
中华人民共和国国际私法示范法. 法律出版社，2000年. 第88页。
《企业会计准则第30号——财务报表列报》2014年1月16日，财政部.
企业会计准则第 32 号——中期财务报告. 2006年2月15日. 财政部。
证券投资基金信息披露编报规则第3号《会计报表附注的编制及披露》中国证监会.
《小企业会计制度》2004年4月27日. 财政部.
Liu Yuting, Alan Thomson. Chinese Accounting Reform: Towards a Principles-based Global Regime. The Institute of Chartered Accountants of Scotland, June, 2010.
Petrov A.M., Lymar' M.P. Obshchie voprosy metodologii i organizatsii bukhgalterskogo ucheta v Rossii i Kitae [General issues of methodology and organization of accounting in China and Russia]. Sovremennyi bukhuchet = Contemporary Accounting, 2014, no. 1.
